[Fishr]

Hi peeps,

I was wondering what insurance companies can you guys recommend for a new M2C? What is everyone using?

Thanks in advance!

[Conissah]

Originally Posted by Fishr

Hi peeps,

I was wondering what insurance companies can you guys recommend for a new M2C? What is everyone using?

Thanks in advance!

In the US, so not sure if it's relevant. 23, Male, Single, clean record with no tickets, I pay $132 a month with Progressive.

[Bumpinjeep]

In the US, i'm 37 and bundle my insurance with my homeowners and my wife's car. For the M2C, I pay something like $80 a month.

[chmura]

I pay about $90 bucks a month with 3 vehicle on the insurance policy. $250/500k coverage.

[nomoracin]

I bundled with Geico and pay about $80/mo. I chose them because of the Mechanical Breakdown Insurance. It's like getting extended warranty from the dealership except it's much much less.

[M2Cmtl]

Quoted 750 per year from my upcoming M2C up here in Canada. But I’m 37 and every car is the same price basically now. My insurance has an online tool that you can check prices quickly and everything is within 100$ a year. Not like when I was 18 and was quoted 5k for a used Corado VR6!

[NEfan508]

Originally Posted by f31mtl

Quoted 750 per year from my upcoming M2C up here in Canada. But I’m 37 and every car is the same price basically now. My insurance has an online tool that you can check prices quickly and everything is within 100$ a year. Not like when I was 18 and was quoted 5k for a used Corado VR6!

37, good record (I really drive like an old man now) so much traffic! $1550 and that's with a bundle discount ford f150 $2900 per year

Still peanuts compared to what I payed $4500 per year on my 02 330xi back then so anything less still feels like I'm getting a deal...

I guess it depends on where your car is registered and not so much your driving record?

[MMMBRAP]

Originally Posted by NEfan508

37, good record (I really drive like an old man now) so much traffic! $1550 and that's with a bundle discount ford f150 $2900 per year

Still peanuts compared to what I payed $4500 per year on my 02 330xi back then so anything less still feels like I'm getting a deal...

I guess it depends on where your car is registered and not so much your driving record?

I have a clean driving record (haven't had any speeding tickets, or even a parking violation, *knock on wood* in over 8 years) but I'm paying $116/month via GEICO.

I think it a lot depends on where you're registering it; the driving record gives you a bit extra discounts, but not by much.

[Thescout13]

Originally Posted by MMMBRAP

I have a clean driving record (haven't had any speeding tickets, or even a parking violation, *knock on wood* in over 8 years) but I'm paying $116/month via GEICO.

I think it a lot depends on where you're registering it; the driving record gives you a bit extra discounts, but not by much.

Where the car is housed and annual miles are the two biggest cost shifters for insurance. For example, in NC for 15k annual miles my wife and I paid ~$90/month for the two of us. In TX we for 7500 annual miles we paid ~$385/mo. In CA with 7500 annual miles we now pay ~$235/mo.

[Conissah]

Originally Posted by Thescout13

Where the car is housed and annual miles are the two biggest cost shifters for insurance. For example, in NC for 15k annual miles my wife and I paid ~$90/month for the two of us. In TX we for 7500 annual miles we paid ~$385/mo. In CA with 7500 annual miles we now pay ~$235/mo.

To this point, if the M isn't the only car in your name on the policy, can't it be considered a 'pleasure' car and therefore lower mileage, which in tern lowers the monthly premium?

[bri1042]

Only if you actually do lower mileage. I ran my insurance at 7500-or-less rates for years but once I moved further out of the city, my insurance company started demanding mileage readings to keep the coverage. I was fine for several years, then was cutting it close and they kicked off the discount. They weren't wrong to do so...the next year. I am doing more than 7500 miles a year now, but not by a ton (just hit 10k miles last weekend in 15 months). My SO's car and the house are on the same policy and it would be a pain in the tail to change companies. My SO's car is cheap on the policy, and mine still isn't costing THAT much ($94 a month), but the demands for mileage proof were really obnoxious and not handled in a friendly way so I have considered having us switch companies.

[MMMBRAP]

Originally Posted by Conissah

To this point, if the M isn't the only car in your name on the policy, can't it be considered a 'pleasure' car and therefore lower mileage, which in tern lowers the monthly premium?

That's the thing. My car is covered in Texas, and I had it insured as a weekend only car (less than 5000 miles a year), and I'm STILL paying $116.

Texas, imo, has really expensive insurance. But for a good reason. Everyone drives crazy there. I used to live in Connecticut and was paying no where near $116/month for full coverage.

[Poochie]

Originally Posted by MMMBRAP

That's the thing. My car is covered in Texas, and I had it insured as a weekend only car (less than 5000 miles a year), and I'm STILL paying $116.

Texas, imo, has really expensive insurance. But for a good reason. Everyone drives crazy there. I used to live in Connecticut and was paying no where near $116/month for full coverage.

Funny you say that; I use to believe that congested NYC and NJ metro area had the countries worst drivers but lately I heard that Texas have some real aggressive, degenerate motorist. Who knew.. :

I also learned that Florida is not far behind in higher risk insurance premiums. Which is ironic because just a couple of years ago, FL use to the place you go to register your vehicle for cheap auto insurance.. I guess the demographic is changing under our noses.

[Chopper731]

I believe the insurance rates in Texas has more to do with storms than driving ability.

[Poochie]

Originally Posted by Chopper731

I believe the insurance rates in Texas has more to do with storms than driving ability.

Actually, that's only one aspect; there are more than one reason..

The increase in the population equals more drivers, which increase the accident rate, as a result, increases the overall insurance risk.


https://cover.com/blog/why-is-auto-i...sive-in-texas/

[Chopper731]

Originally Posted by Poochie

Actually, that's only one aspect; there are more than one reason..

The increase in the population equals more drivers, which increase the accident rate, as a result, increases the overall insurance risk.


https://cover.com/blog/why-is-auto-i...sive-in-texas/

Nice article. Thanks.

[Silpher]

40, good driving record, $34/month with Ameriprise in California. Very low mileage though, 2k miles per year.

[pizza240]

Insurance in Ontario Canada is a scam so with a clean record I paid $1100/year.
That quickly turned into $3500/year because police around here don't like when you steer with the rear wheels.

[baege]

Originally Posted by pizza240

Insurance in Ontario Canada is a scam so with a clean record I paid $1100/year.
That quickly turned into $3500/year because police around here don't like when you steer with the rear wheels.

oh man can you share the full story?

[MMMBRAP]

Originally Posted by Poochie

Actually, that's only one aspect; there are more than one reason..

The increase in the population equals more drivers, which increase the accident rate, as a result, increases the overall insurance risk.


https://cover.com/blog/why-is-auto-i...sive-in-texas/

Yep; my insurance guy told me because I am insuring it in TX, and TX has a far higher accident rate than CT, I have to pay higher premiums.



I paid literally half the amount while in Connecticut, same coverage, same insurance company.

[GerryM5]

Under 7500 mi/yr my insurance is $53.00/month. I haven't had a ticket that counts in 25+ years. California has a program that if you take a weekend driving school class, they expunge the ticket. I've taken advantage of it several times.

[Poochie]

Originally Posted by MMMBRAP

Yep; my insurance guy told me because I am insuring it in TX, and TX has a far higher accident rate than CT, I have to pay higher premiums.



I paid literally half the amount while in Connecticut, same coverage, same insurance company.

Here in downstate New York City metro area, just using a rural upstate NY address drops the rate by up to 200% within the same state and exact tags.

I'm not even exaggerating a little.

Beside your driving record, your location plays a major factor in determining your overall risk profile and by extension, the rate you pay.