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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > General E90 Sedan / E91 Wagon / E92 Coupe / E93 Cabrio > My insurance premium sucks!



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      08-25-2014, 09:15 AM   #1
els_86
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My insurance premium sucks!

So I am paying like 230 a month for my insurance. I have all the basic coverage. I am 27 and the only thing hurting me is I had an accident like 2 years ago. Other than that, no accidents, speeding tickets or anything like that.

I live in a suburb right outside of philadelphia, but basically right on the border of philadelphia. I know I am paying a very high premium, could one accident cause it to be that high or is there something I'm missing?
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      08-25-2014, 09:51 AM   #2
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Quote:
Originally Posted by els_86 View Post
So I am paying like 230 a month for my insurance. I have all the basic coverage. I am 27 and the only thing hurting me is I had an accident like 2 years ago. Other than that, no accidents, speeding tickets or anything like that.

I live in a suburb right outside of philadelphia, but basically right on the border of philadelphia. I know I am paying a very high premium, could one accident cause it to be that high or is there something I'm missing?
That's pretty crazy high, I'm 26 with 1 total loss in the past 2 years and I'm paying 137/month, but "limited use" since it's not my primary car. If i changed my usage it would still only be an extra 30 more per month.
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      08-25-2014, 10:10 AM   #3
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That one collision is most likely the culprit. That being said, shop around and see if you can't get a better price...
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      08-25-2014, 10:17 AM   #4
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Which company?

I personally would recommend either GEICO or Liberty Mutual.

Liberty Mutual has some discount deal going on for BMW drivers, and GEICO has just been all around great to me.
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      08-25-2014, 10:30 AM   #5
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Wow! That's very high. If you don't have GEICO I would recommend them. I pay a little over $900 a year for my car.
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      08-25-2014, 10:36 AM   #6
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Have you looked at your full premium notice to see what the charges are for? A lot of insurance companies will break out the accident surcharge. So if you look at all the line items, you can see where the cost is. But it never hurts to shop around.
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      08-25-2014, 10:37 AM   #7
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You location is probably a big factor in your cost as well.
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      08-25-2014, 11:39 AM   #8
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Quote:
Originally Posted by MiniXP View Post
You location is probably a big factor in your cost as well.
+1
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      08-25-2014, 11:43 AM   #9
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If you ever called your insurance to potentially use it they use that against you. If you've been in accident that's not your fault they use that against you even though they're not supposed to. They use your credit score against you. The use being a new customer against you. They use any method they can to maximize profits. I would not use big corporate insurance companies you see on tv. I would find an insurance broker and get quotes from a mom and pop broker house.
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      08-25-2014, 12:10 PM   #10
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There's a lot of factors when it comes to insurance. (Alot of BS as well), like what others said on here shop around and try to find a better price. Because right now you're getting by your insurance company
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      08-25-2014, 12:16 PM   #11
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No worries..

I pay 370 a month lol

But I also have a terrible driving record...no accidents though
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      08-25-2014, 12:50 PM   #12
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I'm 28, one accident last year only involving my car, haven't had a ticket in about 7 years and I pay around $85 per month for full coverage, $250 collision deductible, $100 comprehensive deductible. State Farm.
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      08-25-2014, 01:13 PM   #13
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29yo - totaled one car a year and a half ago because of ice/snow & DUI 5 years ago - $97 a month full coverage ($250 comprehensive & $500 collision deductibles)

I live in the boonies though...
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      08-25-2014, 01:45 PM   #14
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+1 to Geico.

I live on Long Island, am 28 years old, one stop sign ticket, one claim on my insurance about 3 years ago for $26,000 worth of damage.

$500 deductible with collision, full glass, comprehensive, etc. Minimum property damage and bodily injury.

6 month premium with Geico = $634.30

I've shopped around at every other reputable insurer. None came even close. Geico ftw. Good service too.
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      08-25-2014, 05:03 PM   #15
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So - great news. I just cut my insurance premium in half with Geico. No joke.

They matched my insurance from Progressive and more (I had bare minimum across the board with progressive). With Geico, I got above minimums for the coverage levels, and comprehensive. No dice on collision though - nearly doubled my cost. I'm a careful driver...
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      08-25-2014, 05:19 PM   #16
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Call AIS...you probably hear them all over radio. They're a broker for many diff ins companies. They hooked me up with Mercury and lower my payment from $214 to $120 with same full coverage and $500 deductible. Its weird becuz they got me a policy that's significantly cheaper than the number I got quoted directly from Mercury themselves.
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      08-25-2014, 05:35 PM   #17
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I pay $90 a month for my e90 and wife's forester. We're both 28. I think mine is $50 and hers is $40
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      08-25-2014, 05:39 PM   #18
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Quote:
Originally Posted by mythek View Post
Call AIS...you probably hear them all over radio. They're a broker for many diff ins companies. They hooked me up with Mercury and lower my payment from $214 to $120 with same full coverage and $500 deductible. Its weird becuz they got me a policy that's significantly cheaper than the number I got quoted directly from Mercury themselves.
That's who I go through as well, except I pay $96 a month with a deductible of $2k...
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      08-25-2014, 06:30 PM   #19
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Quote:
Originally Posted by Whateva View Post
If you ever called your insurance to potentially use it they use that against you. If you've been in accident that's not your fault they use that against you even though they're not supposed to.
Depends on the insurer. I've been into 2 accidents that weren't my fault. My insurance hasn't increased at all.
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      08-25-2014, 06:34 PM   #20
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wish i lived in the states for insurance… 23yrs old paying $4000 a year. thats with university alumni discount and multi vehicle discount. next lowest quote was $7000 a year

and thats with a perfect driving record. minus one speeding ticket 4 years ago that isn't on my record anymore
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      08-25-2014, 06:45 PM   #21
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Quote:
Originally Posted by MuffinMan910 View Post
wish i lived in the states for insurance… 23yrs old paying $4000 a year. thats with university alumni discount and multi vehicle discount. next lowest quote was $7000 a year

and thats with a perfect driving record. minus one speeding ticket 4 years ago that isn't on my record anymore

Damn dude, that's a good portion of a car payment!
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      08-25-2014, 06:57 PM   #22
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Try progressive, and also get a beater car for $400 bucks and change your primary car to that with liability only and put your BMW on pleasure"
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