What's your insurance costing you?

[FRIENDLYMONKEY]

Hey all...

So, Interested what others pay for their car insurance, I'm under 20, have had one claim in the past year and pay only $409 annually for full comprehensive on agreed value for 28k.

What's your thoughts on this? What do you
Pay for your E31.

Cheers

[BruchaBmw]

$409 a month ? or year ?

[FRIENDLYMONKEY]

$409 a month ? or year ?

Sorry dude post corrected, annually��

[PabloRock]

$34 a month is a great price. I am paying a little less ($32 for the same $25k), but I am also 54 and haven't had an accident/ticket in over 30 years, with 3 other cars, homeowners and an umbrella policy through them.

[spikec]

Comprehensive is cheap - it's the collision that you'll pay through the nose for being under 25 and male. Fwiw I'm 56 and mine is $369/6 mos with $500/$1000 deductible for comp/coll.

[FRIENDLYMONKEY]

Comprehensive is cheap - it's the collision that you'll pay through the nose for being under 25 and male. Fwiw I'm 56 and mine is $369/6 mos with $500/$1000 deductible for comp/coll.

Comp in NZ includes collision "accidental damage" coverage, no extra excesses... I also have a $400 excess with $200 under 25 age excess additional though.

[dancerst]

$180.00 per months for 3 cars.

[BruchaBmw]

lol yea i figured you would say annually, Well for reference, I have 0 Accidents, 5 years Driving, age 25, and I'm paying 250$ a month for 1Million liability nothing else. Welcome to Ontatrio.

[FRIENDLYMONKEY]

lol yea i figured you would say annually, Well for reference, I have 0 Accidents, 5 years Driving, age 25, and I'm paying 250$ a month for 1Million liability nothing else. Welcome to Ontatrio.

idk what to say, that's expensive!

[henryc]

Having lived in Virginia before Vancouver Canada, car insurance was relatively inexpensive for me in Virginia. Now that I live in British Columbia, have no accidents on my driving record or comprehensive claims since I've been driving (since 1970) or traffic tickets- 1991 850i basic liability coverage with $1M is $1,000.00 annually / per year here in Vancouver. If you add $500 deductible on collision and comp, you can add another $700.00 making it $1700.00/ year. That is just for 1 car. I own 7 cars. You don't get discounts for multiple cars here. So to reduce the costs, January 2, 2016 I obtained BC Collector plate status for my 91 8-Series- that makes the basic liability insurance just under $300.00/ year (you are required to purchase basic insurance from ICBC- the Insurance Corporation of British Columbia. No shopping around. But you can shop around for comp and collision. ). Then I got a collectors policy from Hagerty Collector Insurance- got extra liability coverage, plus comp and collision coverage, stated value coverage, got a discount for adding multiple collector cars to the policy and now pay approximately $460.00 annually for this coverage......... for FOUR collector cars. That's just $115.00/ year for each car. For the 8 Series, the $300.00 plus the $115.00, makes it a more realistic number for insurance costs. I feel sorry for E31 owners who have had a ticket or a recent claim. Their rates in British Columbia must be really high.
You guys in the U.S., I hope you are appreciating those low insurance premiums for your E31 !

- - - Updated - - -

Hey, Bruchabmw in Kitchener-- have you looked into collector coverage for your E31 in Ontario? Here in BC you can qualify if your car is 25 years or older and appears to look as it did on the showroom floor. No custom mods and modern radios with a trunk full of speakers. The catch in BC is that you have to have one regular car to drive (company car, lease car / owned car) and you can't drive collector cars to work or school- pleasure use only. / HenryC

[dbarton62]

lol yea i figured you would say annually, Well for reference, I have 0 Accidents, 5 years Driving, age 25, and I'm paying 250$ a month for 1Million liability nothing else. Welcome to Ontatrio.

Having lived in Virginia before Vancouver Canada, car insurance was relatively inexpensive for me in Virginia. Now that I live in British Columbia, have no accidents on my driving record or comprehensive claims since I've been driving (since 1970) or traffic tickets- 1991 850i basic liability coverage with $1M is $1,000.00 annually / per year here in Vancouver. If you add $500 deductible on collision and comp, you can add another $700.00 making it $1700.00/ year. That is just for 1 car. I own 7 cars. You don't get discounts for multiple cars here. So to reduce the costs, January 2, 2016 I obtained BC Collector plate status for my 91 8-Series- that makes the basic liability insurance just under $300.00/ year (you are required to purchase basic insurance from ICBC- the Insurance Corporation of British Columbia. No shopping around. But you can shop around for comp and collision. ). Then I got a collectors policy from Hagerty Collector Insurance- got extra liability coverage, plus comp and collision coverage, stated value coverage, got a discount for adding multiple collector cars to the policy and now pay approximately $460.00 annually for this coverage......... for FOUR collector cars. That's just $115.00/ year for each car. For the 8 Series, the $300.00 plus the $115.00, makes it a more realistic number for insurance costs. I feel sorry for E31 owners who have had a ticket or a recent claim. Their rates in British Columbia must be really high.
You guys in the U.S., I hope you are appreciating those low insurance premiums for your E31 !

- - - Updated - - -

Hey, Bruchabmw in Kitchener-- have you looked into collector coverage for your E31 in Ontario? Here in BC you can qualify if your car is 25 years or older and appears to look as it did on the showroom floor. No custom mods and modern radios with a trunk full of speakers. The catch in BC is that you have to have one regular car to drive (company car, lease car / owned car) and you can't drive collector cars to work or school- pleasure use only. / HenryC

Try Lant Insurance and their Silver Wheels program for antiques and collectibles. For reference I had a "Kit Car" insured with a 45k appraisal for less than $500 a year. Certain restrictions of course but with a 100% appraisal value coverage.

[henryc]

Looking at the Lant website, they partner with Hagerty. And not sure if Lant is licensed to sell insurance in BC- maybe only in Ontario. For folks in Ontario, worth looking into!
/HenryC

[jef]

$528 a year, $20K agreed upon, through Hagerty.

[kiwiCSi]

Hey all...

So, Interested what others pay for their car insurance, I'm under 20, have had one claim in the past year and pay only $409 annually for full comprehensive on agreed value for 28k.

What's your thoughts on this? What do you
Pay for your E31.

Cheers

That's a pretty low premium for an under 25 comprehensive policy with recent claim history.
Mine is $330 pa for AMI Classic & Vintage cover (no glass) and the agreed value is of course much higher for the CSi.

[adamnur]

I do love finding out how we get screwed in BC by ICBC.

With 2M liability coverage, $500 deductible, no accidents and in the highest discount bracket, I paid $1,800 for one year.

Definitely going Hagerty come Spring time. M3 is over $2000...even my POS 2000 Xterra is $1400. But even then, we can only go to an outside provider for optional coverages. Basic insurance is by far the majority of the insurance cost.

[MHambrice]

Hey all...

So, Interested what others pay for their car insurance, I'm under 20, have had one claim in the past year and pay only $409 annually for full comprehensive on agreed value for 28k.

What's your thoughts on this? What do you
Pay for your E31.

Cheers

Who's it with, just got my renewal from Hagerty and its a little more than that, but agreed amount is 12. I have no deductables.

[Bronickishere]

I just discovered Hagerty today (wish I discovered them 5 years ago). I work in insurance specifically for hail claims and it's amazing to see pretty much new cars getting totaled out. That being said, anything like 8 years or older is toast. Most car policies use ACV (actual cash value) which takes mileage, age, and condition into account. So what I see most is people with nice older cars like tuners or just low mileage ones get totaled all day and it's depressing as hell.

Now that I found Hagerty's, as soon as the hail season picks up again this year I'm switching both my M3s to them. They quoted me $1948 a year for both with limits WAY above what I currently have through Allstate. In comparison, it's laughable really. Currently I'm way overpaying for decent at best insurance. But most important of all is the fact that these are AGV (agreed value policies). I set my 95 M3 at 10 grand and my 01 M3 at 25 grand and somehow it's STILL $500 cheaper a year for both cars. Amazing really. A company actually offering more for less.

[B12.50C]

I have a collector's number (my B12 is probably the only one in Germany with such a number, let alone any other 8 series).

Third Party is like 100 USD/yr, part insurance cover (which also includes theft and damage caused by game animals) is 0.45% of the cars value (I'm debating with the insurance company at the moment how much that is, but should be ~400 - 450 USD/yr ).

Back in 2005 I paid like 850 USD for TP and part insurance cover (I never insured it collission damage as I deemed it not to be necessary for my driving style)...

[Major Cheese]

I have a stated value with Grundy Insurance and they are comparable to Hagerty.

[Joe850V12]

With just liability, it is cheapest in the fleet, about 190 per yr, need to put collision on with hagerty or somone, shouldnt be too bad if I can pay only 8 months that its driven.

[olinjohnston]

With just liability, it is cheapest in the fleet

You drive an E31 with only liability insurance???

[tvjake2]

You drive an E31 with only liability insurance???

It's called a "throw-away"car. After the wreck you throw it away.

[toomann]

4 cars, including the 840, I pay $35 a month per car. Don't even ask me what I payed on my sports cars back when I was 20. When I look back I can't believe I thought it was a good idea to pay what I did.

[PabloRock]

4 cars, including the 840, I pay $35 a month per car. Don't even ask me what I payed on my sports cars back when I was 20. When I look back I can't believe I thought it was a good idea to pay what I did.

Back in the day (87 I think), a friend at work bought a new 5.0 LX Mustang. Went LX to lose some weight and special ordered with the upgraded diff. He was paying more for insurance than the car! Forget how old he was (mid 20s I think). He finally had to sell it to a guy down the block from him (who manged to total it within a month).

[wolfebrian2120]

hmm... I don't understand why insurance has to be so complicated. Just based on what you guys from BC have described, I'm glad I don't live there. that is way over complicated. While I live in NJ, one of the worst states for insurance, I pay $860 every 6 months through Geico for my tahoe and the 850. The 8 is a bit more than the tahoe, but I have collision on the 8. I also took a defensive driving class to get a discount. Weird how SUV's cost so much to insure. It amazes me how some ppl pay next to nothing for insurance and others pay through the roof. I'm also a pretty good driver, since I was 16 and only 1 semi-at-fault accident. Yet I still pay a lot for insurance.

When I lived in PA my insurance was like $60 a month for 1 car, with liability only. But that wasn't an 850. i think price really comes down to driver history, location and any agreed upon amount to repair the car if a collision occurs.