# Insurance rates for M3



## Zappo (Sep 18, 2002)

m3again said:


> It really does vary by company. I'm paying about $950/yr for the 996, compared to $850/yr for an M3 coupe. So some companies have higher rates for 996s, some are higher for M3. Who knows?
> 
> Now I need to shop around for a company that gives good rates on Porsches.
> 
> So stupid question, if you have 2 drivers and 3 cars, and both drivers drive all 3 cars, can you still have two different insurance companies?


No, companies generally avoid overlapping coverage on cars.
:bawling:


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## MG67 (Aug 19, 2003)

Douge said:


> I'm 37 married with 3 cars but I have a colorful history, I think only 1 ticket will show on my DMV but I have two accidents :yikes: in the past three years. I have dreaded asking this question as it may make me rethink the M3, I have been quoted a very reasonable rate for a C32 but not the same car as an M3. Anybody have any guesses?


I just checked with Safeco and they quoted me $2346 per year for a 2003 M3 Coupe. I'm paying $1523 per year for my current 325it Sportwagon...


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## Jeff_DML (Mar 13, 2002)

mgorgel said:


> I just checked with Safeco and they quoted me $2346 per year for a 2003 M3 Coupe. I'm paying $1523 per year for my current 325it Sportwagon...


Sounds about right 

Do you also have safeco for your home insurance? I do, How do you like them for auto insurance?

thx


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## MG67 (Aug 19, 2003)

Jeff_DML said:


> Sounds about right
> 
> Do you also have safeco for your home insurance? I do, How do you like them for auto insurance?
> 
> thx


Yes we do have Safeco for home insurance too, we have both our 325it and the 330ci on the auto insurance. Sofar no problems and very nice service. Since I'm from the Netherlands I'm on my wife's auto insurance and that saves me a lot of money. Because of my reimbursement from work for my car I must have the best insurance possible. 
I think it's still worthwhile when I trade my touring for a M3 to be paying about $195 per month... it's still cheaper then my $250 per month for a Ford Focus 
Do you have bad experiences with Safeco..?


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## MG67 (Aug 19, 2003)

Jeff_DML said:


> Sounds about right
> 
> Do you also have safeco for your home insurance? I do, How do you like them for auto insurance?
> 
> thx


By the way you have the same car as me... :thumbup:


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## Jeff_DML (Mar 13, 2002)

mgorgel said:


> Yes we do have Safeco for home insurance too, we have both our 325it and the 330ci on the auto insurance. Sofar no problems and very nice service. Since I'm from the Netherlands I'm on my wife's auto insurance and that saves me a lot of money. Because of my reimbursement from work for my car I must have the best insurance possible.
> I think it's still worthwhile when I trade my touring for a M3 to be paying about $195 per month... it's still cheaper then my $250 per month for a Ford Focus
> Do you have bad experiences with Safeco..?


no problems with safeco, just have them as my home insurance but my car insurance is 21st century. Thinking of changing to safeco since they give a discount if the insure you for both. Thanks for the info.

yeah nice looking wagon


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## vahan1 (Nov 4, 2003)

Found Cheap Insurance!!!

ok - I'm almost 26, 2 points on the record, single. Own a '02 M3 Cab.

Everyone's been quoting me around $5000 / year. (i checked dozens of companies)

Mercury Insurance came up with $2333/year (WOW!!!!) Going in next week to have the policty started.

just something to look into, good luck!


-vahan


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## Zappo (Sep 18, 2002)

vahan1 said:


> Found Cheap Insurance!!!
> 
> ok - I'm almost 26, 2 points on the record, single. Own a '02 M3 Cab.
> 
> ...


I'll trade you my $496/year rate on my '02 M3 for 25 of your youthful years any time! ..... I'd gladly pay $5000/year and be 25 again


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## Stuka (Jul 17, 2002)

vahan1 said:


> Found Cheap Insurance!!!
> 
> ok - I'm almost 26, 2 points on the record, single. Own a '02 M3 Cab.
> 
> ...


Hate to rain on your parade, but I have to tell you that Mercury is second/third tier insurance company.

Being involved in the insurance biz, I can tell you that the adjusters for Mercury, Progressive, Infinity, and joints like these are not known for approving a well written estimates from a good shop. :thumbdwn:

In fact, some high line bodyshops might even send you on your way because they would rather not deal with the hassle of being nickled and dimed for everything, and having to fight for using OEM parts.

In short, you get what you pay for. Which in Mercury's case, is NOT very much. :tsk:

Andy
02 M3 CB/Cloth SMG
88 325is Black/Cinnamon


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## vahan1 (Nov 4, 2003)

hehe thanks 


...about the mercury being cheap _asses. I think i'll keep them for a year until one point falls off my record. After that's done I'll switch back to someone more respectable.

...it's still more then $2500/year difference ! 

thanks for the info!
-v


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## Zappo (Sep 18, 2002)

vahan1 said:


> hehe thanks
> 
> ...about the mercury being cheap _asses. I think i'll keep them for a year until one point falls off my record. After that's done I'll switch back to someone more respectable.
> 
> ...


And to be sure they give you the best rate ask for a $1000 deductible for Collision and a $250 or $500 deductible for Comp/Theft. :thumbup:


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## vahan1 (Nov 4, 2003)

Zappo said:


> And to be sure they give you the best rate ask for a $1000 deductible for Collision and a $250 or $500 deductible for Comp/Theft. :thumbup:


Thanks. They're also giving me 25% discount because i've had continuous insurance coverage for the last 5 years - 5% for each year, 5 years max.

I don't know of anyone else who does that 

-vahan


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## SupraRZ (Apr 16, 2003)

I have Wawanesa Insurance, it's a Canadian ins. company underwritten to do business in CA. On the Calif. insurance bureau webpage it was rated #1 or #2 over all of the other "big boys" like snake farm or AAA.

However if you have more than 2 tickets they will not cover you.


wawanesa.com


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## MD2b (Dec 20, 2002)

$2300 Cdn/yr for a '03 M3 -- 24, male, single, sole driver, 2 massive speeding tickets, 0 accidents, $500 deductible, $3 mil coverage plus our house is with the same company: The Co-operators Insurance. My previous car was a S4 and the increase was only $300.

Edit: If colour matters, mine is LSB -- listed as "blue" with the insurance company.


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## bozo (Dec 14, 2003)

In Los Angeles with aaa it's about 2200 a year and for the record my 2000 carrera cost more then the '03 m3. i'm 30 with no dings on my record


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## Beowoulf (Aug 30, 2003)

SupraRZ said:


> I have Wawanesa Insurance, it's a Canadian ins. company underwritten to do business in CA. On the Calif. insurance bureau webpage it was rated #1 or #2 over all of the other "big boys" like snake farm or AAA.
> 
> However if you have more than 2 tickets they will not cover you.
> 
> wawanesa.com


I use to have wawanesa until I found out they only pay for non OEM parts and they have a lot of other restrictions in the fine print. Read your policy carefully. I switched to AAA. $900/yr for $500 deductible. That price is due to multiple car discount and they also cover my house. Another nice thing about AAA is that they said they will cover me on the track as long as it is a DE course. Aren't they all?


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## Riuster (May 21, 2003)

*rates applies to where you live....yes?*



Beowoulf said:


> I use to have wawanesa until I found out they only pay for non OEM parts and they have a lot of other restrictions in the fine print. Read your policy carefully. I switched to AAA. $900/yr for $500 deductible. That price is due to multiple car discount and they also cover my house. Another nice thing about AAA is that they said they will cover me on the track as long as it is a DE course. Aren't they all?


Since many of the M3 owners on this board live in an area probably with less auto crimes your rates should be less. I live in NYC and pay 2200, over 25, under 34, single, 2 speeding tickets outside the state, so NO POINTS..hahahaah and no accidents, (knock on wood), and 2200 is DIRT CHEAP for where I live. Actually im very proud of my rate and my driving record. :angel:

NYC people should be paying 3500 to 5000 dollars on an M3, I know one guy who lives in Queens NYC, and pays 5200.00 dollars for a year.

Arent you guys lucky to live in places with less auto crimes....boonies....has its benefits..... :thumbup: (applies to some, not to all, jk)


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## bymer (Dec 28, 2003)

*thats really low for NYC*



Riuster said:


> NYC people should be paying 3500 to 5000 dollars on an M3, I know one guy who lives in Queens NYC, and pays 5200.00 dollars for a year.


wow, some of my brooklyn buddies pay more for 330's and even used cars - you really got a good deal


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## Riuster (May 21, 2003)

bymer said:


> wow, some of my brooklyn buddies pay more for 330's and even used cars - you really got a good deal


well Im old and I have a good record.....well is over 35 being old...I guess for Insurance companies, IM OLD...


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## Riuster (May 21, 2003)

Riuster said:


> well Im old and I have a good record.....well is over 35 being old...I guess for Insurance companies, IM OLD...


well over 34..uhhmmm...


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## Jever (Apr 16, 2003)

16hr Day said:


> Yes, I have my home & auto together. I also get multicar discounts since I have 4 cars and only my wife and I drive! But most of all I am 40 and married. Insurance companies like guys like me. You, they are not so keen on. But don't worry. When you turn 30 they will give you a break. Get married and BAM another break. Good luck! :thumbup:


bah, 3 more years! Oh well. I'll have to see if I can find a friend that wants to get married so we can get ourselves some breaks!


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## dfunk (May 7, 2004)

Jever said:


> bah, 3 more years! Oh well. I'll have to see if I can find a friend that wants to get married so we can get ourselves some breaks!


You might also want to ask these guys what type of coverage they have etc, collision the works. I posted my rates earlier one of the reasons mine are higher is because I live in Las Vegas. On my old cars when I moved from san diego to Las vegas my rates doubled. Lots of drunk people exiting the casinos during commute time and its a very transient town so when New Yorkers meets Oklahoma drivers bad things happen.


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## LoneStarM3 (May 12, 2005)

Zappo said:


> I'll trade you my $496/year rate on my '02 M3 for 25 of your youthful years any time! ..... I'd gladly pay $5000/year and be 25 again


Yeah, me too. (But then us old goats need fun too!)


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## cjwheeling (Jan 26, 2006)

I have had State Farm for over 12 years, their rates are consistantly 10 -20% lower than everyone else. I have 1 accident and 3 seperate claims in the past 3 years. Granted, I have a 325, but I'm only paying $700/yr living in SoCal.


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## Stuka (Jul 17, 2002)

The M3 is a high claim car because idiots crash them so darn frequently that it's not even funny.:thumbdwn: 

When I was single, my insurance for the E46 M3 was more expensive than for the Turbo. And this for a car that has an MSRP of less than half of the Turbo. It's all about the claims.:thumbdwn:


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## cjwheeling (Jan 26, 2006)

I just spoke to guy yesterday at my kid's basketball game. He was driving a '04 M3. He said that he was spending about $50/mo or $600/yr for full coverage with Farmers. He had a multiple discount, but other than that, nothing special as far as he could recall.


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## DJ_INHALE (Mar 15, 2006)

Zappo said:


> Next best suggestion is if there are teenage drivers in the household is to keep them from getting driver's licenses until they move out at 18, but that's going to be a tough nut to crack.
> :


imagine this..you are 16 again... your father comes to you. "Son You arent getting your D.L. till your 18 so I can have cheaper car insurance on my 60,000 sports car."

Thats not very grateful. not very cool. I would do some gay porno to get back at you


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