Crazy insurance

Stinger77 · 11-20-2023, 08:02 PM

46 years old
Have bundle with statefarm insuring 2 houses and 4 cars in total including my M4
Set as a low mileage driving car since is not my daily
Had an accident on my R8 totalled and i was found at fault, no other accidents no tickets
Live in Metro Hotlanta

I am paying about 180 USD a month for my 2024 M4 G82, does this sound like an average rate or I'm I getting ripped off?

How much are you fellas paying a month in your insurances for your M3/M4 cars?
Thank you in advance!

DanG · 11-20-2023, 08:47 PM

Have to add age, driving record, and miles driven per year to get any relevant data.

Pheonix · 11-20-2023, 08:48 PM

There are many things affecting insurance rates! Mainly location, driver histories and type of vehicles,amount of mileage driven/period,etc...not knowing any of those can't help us to know if your rate is crazy or not. Be glad you are not like my 62 years old, Female Coworker with clean records whom is paying $175/month for her Tesla Model Y.

Stinger77 · 11-20-2023, 08:54 PM

Appreciated you guys input did not know there were that many factors.

ppointer · 11-21-2023, 05:32 AM

Quote:

Originally Posted by Stinger77

46 years old
Have bundle with statefarm insuring 2 houses and 4 cars in total including my M4
Set as a low mileage driving car since is not my daily
Had an accident on my R8 totalled and i was found at fault, no other accidents no tickets
Live in Metro Hotlanta

I am paying about 180 USD a month for my 2024 M4 G82, does this sound like an average rate or I'm I getting ripped off?

How much are you fellas paying a month in your insurances for your M3/M4 cars?
Thank you in advance!

Here in South FL that is about the going rate. There are some no-fault laws down here that really hurt rates. In Ohio your rate would probably be cut in half. So, your location and history are working against you.

cmyx6go · 11-21-2023, 05:59 AM

I pay a lot more than that and I am 60, female and in NYC. Clean driving record, discounts for accident free and safe driver. In addition to all the other factors people have mentioned, your coverage limits also need to be considered.

Chihuahua · 11-21-2023, 06:46 AM

Quote:

Originally Posted by DanG

Have to add age, driving record, and miles driven per year to get any relevant data.

yep, credit history can also be a factor.

Quote:

Originally Posted by Stinger77

46 years old
Have bundle with statefarm insuring 2 houses and 4 cars in total including my M4
Set as a low mileage driving car since is not my daily
Had an accident on my R8 totalled and i was found at fault, no other accidents no tickets
Live in Metro Hotlanta

I am paying about 180 USD a month for my 2024 M4 G82, does this sound like an average rate or I'm I getting ripped off?

How much are you fellas paying a month in your insurances for your M3/M4 cars?
Thank you in advance!

I'm also in Hotlanta area. 180 for an M4 sounds about right, especially since you have a totaled R8 on your loss history. That said, if you feel it's high get with an agent that you trust and see what your options are.

Bc2005 · 11-21-2023, 09:09 AM

State laws and claims rates can also have a significant impact. When I moved from San Antonio, TX to Alexandria, VA my insurance dropped by about 40% for the same vehicles.

At that time (2012) Texas had very loose laws about keeping liability insurance on vehicles, which led to a lot of uninsured drivers. I assume that was one of the factors. The irony is that I now had to drive in DC metro traffic, which was way crazier than anything in San Antonio.

LogicalApex · 11-21-2023, 02:04 PM

A lot of factors go into pricing insurance as many posted here. You can’t really get good data on a forum like this as we are all extremely varied.

The general thing to keep in mind. Always shop around at insurance renewal. It is the only way for you to learn if your insurance rates are reasonable for your market and details.

Also, remember insurance companies are very limited in their ability to say “we don’t want you as a customer” so they do this in the one legal way they can — with rates! So if your rates are far out of line your insurer may be telling you that they don’t want you in their risk pool. For whatever reason. Their actuaries have decided their optimal risk pool should be.

alex2364 · 11-21-2023, 02:45 PM

This is why you should shop around every few years or when they raise your rate.

M-technik-3 · 11-21-2023, 04:29 PM

We just did a 8 page insurance rant. Good old inflation. Do a quick search it was good and bad.

11-20-2023, 08:02 PM	#1
Stinger77 Enlisted Member 44 Rep 40 Posts Drives: Kia Stinger Join Date: Jul 2022 Location: Jacksonville iTrader: (0)	Crazy insurance 46 years old Have bundle with statefarm insuring 2 houses and 4 cars in total including my M4 Set as a low mileage driving car since is not my daily Had an accident on my R8 totalled and i was found at fault, no other accidents no tickets Live in Metro Hotlanta I am paying about 180 USD a month for my 2024 M4 G82, does this sound like an average rate or I'm I getting ripped off? How much are you fellas paying a month in your insurances for your M3/M4 cars? Thank you in advance! Last edited by Stinger77; 11-20-2023 at 08:53 PM..
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11-20-2023, 08:47 PM	#2
DanG Major General 10662 Rep 6,938 Posts Drives: 2018 M2 AW DCT Join Date: Aug 2012 Location: Seattle, WA iTrader: (1) Garage List 2018 BMW M2 [7.68]	Have to add age, driving record, and miles driven per year to get any relevant data. __________________ BMWCCA member Puget Sound Chapter
	Appreciate 1 Stinger7743.50 Quote

11-20-2023, 08:48 PM	#3
Pheonix Major 378 Rep 1,001 Posts Drives: 2007 Z4 M Coupe 2012 e93 M3 Join Date: Sep 2008 Location: Bay Area, CA iTrader: (8) Garage List 2007 BMW/Z4MC [0.00]	There are many things affecting insurance rates! Mainly location, driver histories and type of vehicles,amount of mileage driven/period,etc...not knowing any of those can't help us to know if your rate is crazy or not. Be glad you are not like my 62 years old, Female Coworker with clean records whom is paying $175/month for her Tesla Model Y.
	Appreciate 1 Stinger7743.50 Quote

11-20-2023, 08:54 PM	#4
Stinger77 Enlisted Member 44 Rep 40 Posts Drives: Kia Stinger Join Date: Jul 2022 Location: Jacksonville iTrader: (0)	Appreciated you guys input did not know there were that many factors.
	Appreciate 0 Quote

11-21-2023, 05:59 AM	#6
cmyx6go Colonel 15763 Rep 2,043 Posts Drives: 2022 X6///M Comp Join Date: Aug 2015 Location: NYC iTrader: (2) Garage List 2019 X6 ///M [10.00]	I pay a lot more than that and I am 60, female and in NYC. Clean driving record, discounts for accident free and safe driver. In addition to all the other factors people have mentioned, your coverage limits also need to be considered. __________________ I thought I was a good person but the way I react when people drive slowly in the left lane would suggest otherwise
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11-21-2023, 09:09 AM	#8
Bc2005 First Lieutenant 317 Rep 395 Posts Drives: 2021 M340i Join Date: Jun 2021 Location: Virginia iTrader: (0)	State laws and claims rates can also have a significant impact. When I moved from San Antonio, TX to Alexandria, VA my insurance dropped by about 40% for the same vehicles. At that time (2012) Texas had very loose laws about keeping liability insurance on vehicles, which led to a lot of uninsured drivers. I assume that was one of the factors. The irony is that I now had to drive in DC metro traffic, which was way crazier than anything in San Antonio.
	Appreciate 1 Stinger7743.50 Quote

11-21-2023, 02:04 PM	#9
LogicalApex Colonel 2026 Rep 2,946 Posts Drives: 2020 BMW 530xe Join Date: Jul 2019 Location: Farmington, NY iTrader: (0) Garage List 2020 BMW 530xe [0.00]	A lot of factors go into pricing insurance as many posted here. You can’t really get good data on a forum like this as we are all extremely varied. The general thing to keep in mind. Always shop around at insurance renewal. It is the only way for you to learn if your insurance rates are reasonable for your market and details. Also, remember insurance companies are very limited in their ability to say “we don’t want you as a customer” so they do this in the one legal way they can — with rates! So if your rates are far out of line your insurer may be telling you that they don’t want you in their risk pool. For whatever reason. Their actuaries have decided their optimal risk pool should be.
	Appreciate 1 Stinger7743.50 Quote

11-21-2023, 02:45 PM	#10
alex2364 Colonel 2874 Rep 2,759 Posts Drives: 2020 M4 ZCP / 2023 X3 M40i Join Date: May 2005 Location: Northern VA iTrader: (2) Garage List 2020 BMW M4 [10.00] 2023 BMW X3 M40i [10.00]	This is why you should shop around every few years or when they raise your rate.
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11-21-2023, 04:29 PM	#11
M-technik-3 Major 2091 Rep 1,479 Posts Drives: E30 M3, E36 M3, 328iT, 335i Join Date: Mar 2020 Location: western Ma iTrader: (0) Garage List 1995 M3 [9.00] 2007 E91 [7.25] 1988 M3 [9.50]	We just did a 8 page insurance rant. Good old inflation. Do a quick search it was good and bad.
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