[RAM_F30_F87]

If you garage your M2 during the winter, check if your insurance company will give you a discount. I'm with Erie and they'll discount for a quarter.

[mokrunka]

It will be ~$60 to add it to my full coverage policy with my 335 through GEICO.

[omasou]

Originally Posted by RAM_E90_F87

If you garage your M2 during the winter, check if your insurance company will give you a discount. I'm with Erie and they'll discount for a quarter.

I was going to ask but what happens if you have a nice day and want to take the car out?

[nopslide]

Yea I got hosed on my M2 insurance w/ amica too. I always have higher rates than anyone I speak to though. No tickets, no accidents, good credit. I just assume the insurers know something I don't. I'm 30 too, so its not like I'm young/high risk.

[David1]

Originally Posted by omasou

I was going to ask but what happens if you have a nice day and want to take the car out?

With USAA you can not take it out on a nice day. You can not turn insurance on and off. I have to keep the storage insurance on for at least 30 days before it can be switched on again. If I take the storage coverage off after the 30 days to drive it on a "nice day" I can not put back on storage coverage again for a while. So storage coverage is just that.

[omasou]

Originally Posted by David1

With USAA you can not take it out on a nice day. You can not turn insurance on and off. I have to keep the storage insurance on for at least 30 days before it can be switched on again. If I take the storage coverage off after the 30 days to drive it on a "nice day" I can not put back on storage coverage again for a while. So storage coverage is just that.

Thought the answer might be all or nothing. Thanks!

[David1]

Originally Posted by nopslide

Yea I got hosed on my M2 insurance w/ amica too. I always have higher rates than anyone I speak to though. No tickets, no accidents, good credit. I just assume the insurers know something I don't. I'm 30 too, so its not like I'm young/high risk.

I have two young kids on my policy so I get screwed on the M2 until they have their policies or move out of the house.

[doug_999]

Originally Posted by omasou

I also don't carry BS insurance like medical, uninsured/underinsured (also medical) and limited tort. You may feel differently.

Lastly, keep your coverage to [Edit]state minimums <- your insurance provider may have higher "minimum" coverage amounts [/Edit] and buy an umbrella.

As an FYI, State Farm made me adjust all of my insurance limits before they would write the umbrella (including having max uninsured/under-insured).

[omasou]

Originally Posted by doug_999

As an FYI, State Farm made me adjust all of my insurance limits before they would write the umbrella (including having max uninsured/under-insured).

hummm...need to find out why I have the medical listed?

FYI... Maybe IL is different?

BTW, some of my limit or costs (forget the details) are grandfathered. Perhaps that's the difference?

• Liability - Bodily Injury / Property Damage
  • $250,000 each person / $500,000 each accident
  • $100,000 each accident
• Comprehensive Deductible, $100
• Collision Deductible, $500
• Emergency Road Service, Yes
• Car Rental and Travel Expenses, 80% of Cost Max $1,000
• Funeral Benefits, $2,500
• Medical Payments, $5,000 each person
• Extraordinary Medical Payments, No Coverage
• Death, Dismemberment, and Loss of Sight, $5,000

[Tralfaz]

Originally Posted by nopslide

Yea I got hosed on my M2 insurance w/ amica too. I always have higher rates than anyone I speak to though. No tickets, no accidents, good credit. I just assume the insurers know something I don't. I'm 30 too, so its not like I'm young/high risk.

I was floored when I heard my increase with Amica. I'm not sure how much of it has to do with having to get my 135i repaired after I discovered someone had backed into it in a parking lot (without leaving a note, of course). So, uninsured motorist claim my policy had to pay for which likely increased my rates.

[omasou]

Originally Posted by Tralfaz

I was floored when I heard my increase with Amica. I'm not sure how much of it has to do with having to get my 135i repaired after I discovered someone had backed into it in a parking lot (without leaving a note, of course). So, uninsured motorist claim my policy had to pay for which likely increased my rates.

I learned something today, I have never heard of uninsured paying for collision. Seems some insurances in some states will use it to recoup for hit and run.

Of course talk w/your agent b/c this is just some guy on the Internet but it does discuss a lot of scenarios.

http://livingstingy.blogspot.com/201...e-its-not.html

And this is from SF since we were talking about them...

https://learningcenter.statefarm.com...eductible-faq/

BTW, see comments about a collision and using uninsured insurance.

[MMMBRAP]

Originally Posted by doug_999

So I thought I had read that many people were getting really good insurance rates on their M2? Apparently not with State Farm! My $55K M2 is about 1/2 of the cost of my former 650GCxi and yet, the insurance is MORE!

Wow - blown away.

And yes, I know there is a lot more to insurance premiums than the cost of the car - but wow! (did I say that already? )

PS - I'm in my 40s on top of it! (maybe that is the issue, old guys should not own this car? )

State Farm and AllState have always been higher than most other insurance companies, imo.

I've honestly never had good dealings with them.

For me, GEICO and Progressive offer better rates.

[atxsk8r]

Originally Posted by David1

I have two young kids on my policy so I get screwed on the M2 until they have their policies or move out of the house.

Darn kids! Kick em out, problem solved

[M3 Adjuster]

Originally Posted by omasou

I learned something today, I have never heard of uninsured paying for collision. Seems some insurances in some states will use it to recoup for hit and run.

Of course talk w/your agent b/c this is just some guy on the Internet but it does discuss a lot of scenarios.

http://livingstingy.blogspot.com/201...e-its-not.html

And this is from SF since we were talking about them...

https://learningcenter.statefarm.com...eductible-faq/

BTW, see comments about a collision and using uninsured insurance.

Some states in the US allow U-BI only rather than UBI and UPD.

Some states also are no Fault and there is no U coverage at all.

[M3 Adjuster]

Originally Posted by nopslide

Yea I got hosed on my M2 insurance w/ amica too. I always have higher rates than anyone I speak to though. No tickets, no accidents, good credit. I just assume the insurers know something I don't. I'm 30 too, so its not like I'm young/high risk.

It's not like it has nearly 370hp or something and there aren't videos of M cars hopping curbs ...

[M3 Adjuster]

Originally Posted by doug_999

As an FYI, State Farm made me adjust all of my insurance limits before they would write the umbrella (including having max uninsured/under-insured).

I rather doubt it was to the MAX - unless you have base limits of 2 million or something.

I'd bet the request was to increase your U-BI LIMITS to match your individual liability limits.

They also may have requested you increase your liability limits to a certain level - for example . 250/250/250 ... they then add the umbrella policy above that, however that's a completely separate item.

Aloha Joe was spot on

" Umbrella policies for the majority of us, is a good thing to have, but depending on your state and carrier. You may need to get higher coverage than the state minimums on your auto policy, plus your homeowners policy will be looked at as well."

[Tralfaz]

Originally Posted by omasou

I learned something today, I have never heard of uninsured paying for collision. Seems some insurances in some states will use it to recoup for hit and run.

Of course talk w/your agent b/c this is just some guy on the Internet but it does discuss a lot of scenarios.

As much as I hate effectively paying for other peoples insurance, it's most likely been a bigger benefit than liability for me. Since I moved to Texas I've been hit 5 times, 3 by uninsured or hit and run motorists. My wife was also hit by a hit and run. Unfortunately the police will not help with hit and run accidents (and usually that driver is uninsured) so you're just stuck getting those repaired yourself.

The one time I was hit by a driver for more than just minor damage that did have insurance, I had to get Amica to pay to repair it and bill his insurance because they were so horrible.

[Destroya]

Originally Posted by M3 Adjuster

I rather doubt it was to the MAX - unless you have base limits of 2 million or something.

I'd bet the request was to increase your U-BI LIMITS to match your individual liability limits.

They also may have requested you increase your liability limits to a certain level - for example . 250/250/250 ... they then add the umbrella policy above that, however that's a completely separate item.

Aloha Joe was spot on

" Umbrella policies for the majority of us, is a good thing to have, but depending on your state and carrier. You may need to get higher coverage than the state minimums on your auto policy, plus your homeowners policy will be looked at as well."

Yes. Umbrella coverage is quite cheap because you have to carry high underlying limits. The insurers know where all the sweet spots are on profitability.

[Kid Eh]

Mine went from $175/m (2013 335is) to $116.00/m (2017 M2). I'm saving about $700 a year. Canadian money. Not too bad.

[nopslide]

Originally Posted by M3 Adjuster

It's not like it has nearly 370hp or something and there aren't videos of M cars hopping curbs ...

I drive like a dickhead so I'm not complaining. I just don't know how my insurance company knows. I never get ticketed/in accidents.

Edit: Just noticed your name is relevant. Do you think its because I carry pretty high insurance limits? Do insurers think people with high levels of coverage are planning on wrecking some shit?

[doug_999]

Originally Posted by M3 Adjuster

I rather doubt it was to the MAX - unless you have base limits of 2 million or something.

I'd bet the request was to increase your U-BI LIMITS to match your individual liability limits.

They also may have requested you increase your liability limits to a certain level - for example . 250/250/250 ... they then add the umbrella policy above that, however that's a completely separate item.

Actually the limits went (on everything) to the highest you could get on an auto policy. THEN they wrote the Umbrella.

As pointed out by Destroya, they don't want the umbrella coming into play until it really has to (thus the relatively low cost for it).

Originally Posted by MMMBRAP

State Farm and AllState have always been higher than most other insurance companies, imo.

I've honestly never had good dealings with them.

For me, GEICO and Progressive offer better rates.

By "good dealings" do you mean price or service? State Farm has taken incredible care of me over the years. At the end of the day, I guess I subscribe to "you get what you pay for"

[azfootdoc]

So by way of comparison I have a 2016 M2 insured with State Farm. My policy runs $93.60 per month. This is cheaper than my wife's 2013 Infiniti QX56 which is $104.50. I have always loved State Farm and don't mind paying a little more for them.

Originally Posted by doug_999

So I thought I had read that many people were getting really good insurance rates on their M2? Apparently not with State Farm! My $55K M2 is about 1/2 of the cost of my former 650GCxi and yet, the insurance is MORE!

Wow - blown away.

And yes, I know there is a lot more to insurance premiums than the cost of the car - but wow! (did I say that already? )

PS - I'm in my 40s on top of it! (maybe that is the issue, old guys should not own this car? )