Insurance on M3 vs 335

[saeyedoc]

curious how much rates went up for those that made the switch. Looking at M3 DCT vs Cayman-S PDK for next car (probably CPO '09 on both) for next car.
Affording insurance won't be a problem, just curious.

[radiantm3]

My insurance agency said the difference between my 135i and upcoming M3 is about $300 a year. I'm using Ameriprise (Costco)

[///Mperative]

As an insurance agent, I can tell you that yes there is an appreciable difference between the insurance on a 335 vs an M3. Personally, i didn't have a huge increase when I replaced my 335 with an M3 (in the range of $300 per year), but my experience is not the norm due to the fact that I have a commercial auto policy (as opposed to a personal auto policy that most people have). On a personal policy, the difference would have been much more substantial.

Caveat: rates vary GREATLY based on geographic location, insurer, prevailing rates, credit score, driving record, etc, etc, etc.

[hjhgj]

Originally Posted by saeyedoc

curious how much rates went up for those that made the switch. Looking at M3 DCT vs Cayman-S PDK for next car (probably CPO '09 on both) for next car.
Affording insurance won't be a problem, just curious.

I moved from 08 335i e92 to 09 M3 e92 (both same full option)

for 6 month, 335 was $600 and M3 is $714 with farmers

[skim]

Originally Posted by andrewlef

As an insurance agent, I can tell you that yes there is an appreciable difference between the insurance on a 335 vs an M3. Personally, i didn't have a huge increase when I replaced my 335 with an M3 (in the range of $300 per year), but my experience is not the norm due to the fact that I have a commercial auto policy (as opposed to a personal auto policy that most people have). On a personal policy, the difference would have been much more substantial.

Caveat: rates vary GREATLY based on geographic location, insurer, prevailing rates, credit score, driving record, etc, etc, etc.

credit score? how do they obtain that? every time i get a quote or get a new policy, they only ask for my driver's license num??

[301Bimmer9]

Originally Posted by skim

credit score? how do they obtain that? every time i get a quote or get a new policy, they only ask for my driver's license num??

Yes insurance companies use your social to get an "insurance score" it is a soft hit on your credit history. They can increase or decrease your premium based on your credit.

[///Mperative]

Originally Posted by skim

credit score? how do they obtain that? every time i get a quote or get a new policy, they only ask for my driver's license num??

They only need your name, dob and home address to pull your credit score aka insurance score. And credit has a VERY real impact on your insurance rates. Something like a 500% swing between the worst and best credit score.

[bobbyd1961]

Originally Posted by saeyedoc

curious how much rates went up for those that made the switch. Looking at M3 DCT vs Cayman-S PDK for next car (probably CPO '09 on both) for next car.
Affording insurance won't be a problem, just curious.

very little and the only reason was the car was new

[jdgamble]

My insurance decreased when I went from an 08 A4 to an 11 M3. I pay around 900/yr. I can't imagine a 335 being much less than that.

[crackberry]

Originally Posted by andrewlef

They only need your name, dob and home address to pull your credit score aka insurance score. And credit has a VERY real impact on your insurance rates. Something like a 500% swing between the worst and best credit score.

my parents have credit scores of 780+, and i am under their insurance. if both my dad and i own the car, but i am the primary driver, will they mostly base the rate off of my credit score even if they have much better credit? what if my dad is listed as the primary driver? thanks in advance.

[Neon01]

When I recently sold my '09 335i and bought a '09 M3, the cost of insuring that vehicle went up about 50-60%. I think the 335i was about $340/6 months, and the M is about $525. Clean record (last 5 years) and excellent (770+) credit. This is on a multi-vehicle, multi-person policy, of course.

[punksterz626]

mine is the same...in the 800s for full year...i have a scion xb also full coverage so i pay about 1400s for a year..same as when i had my 335i...i go thru wawanesa but its only for CA and OR..

[MDyDinanM]

i have USAA, they've been great.

I think rates also have something to do w/ engine size as well. I went from a M3 to a M5, and b/c it was a V10, my rate increased significantly.

You can ask your insurance agency what they would say w/ a V8

Thank goodness for a good driving record, and great credit, etc.

[saeyedoc]

Turbo matters also, that may be why the 335 isn't much less than the M3 to insure.

[geneatals]

difference from my 08 535i to M3 sedan I have on order is about $300 per yr (I'm with wawanesa)...it's what I expected and anticipated

[mdosu]

Great credit helps, I pay $55 a month for full comprehensive in VA, $250 deductible.

I'm 28 with good credit and no debt.

[clubspec330i]

I just renewed my policy with Wawanesa, been with them for about 12 years ever since I was in college.

So. Cal, live in the base of Foothill Mountain (I don't know if it has anything to do with it), 34, married, no accident in 7 years, 100k/300k

08 M3 Sedan - $543/year (me-sometime)
05 X5 4.4i - $794/year (wife)
95 Caravan ES - $136/year (liability) (work van)

Just paid $1473.00 - good until Oct 5, 2011.

[mrkbbd]

my insurance went down with a M3 from a X5 by about over 700/yr

[Robertyu]

I traded my '08 335i for a left-over 2010 M3 three months ago. My rates went up $106/year.

[shamoo]

Just chiming in here regarding credit score and insurance rates.

Credit score rating/tier can be based on where you live. Some insurance companies don't even ask you for your SS#. In that case, it's based off your address which is a generalization based off of marketing data and what the general credit score of that region is. My work does that. Your credit can be great, but if you live in a "generally low credit area", too bad so sad.

[mdosu]

Originally Posted by shamoo

Just chiming in here regarding credit score and insurance rates.

Credit score rating/tier can be based on where you live. Some insurance companies don't even ask you for your SS#. In that case, it's based off your address which is a generalization based off of marketing data and what the general credit score of that region is. My work does that. Your credit can be great, but if you live in a "generally low credit area", too bad so sad.

interesting, where do you work, or what kind of work do you do?

[shamoo]

Originally Posted by mdosu

interesting, where do you work, or what kind of work do you do?

Marketing analysis for Vonage. Some of the analysis we do revolves around trending the credit rating of our prospects and customers. We can see what type of promotions and offers drive what type of credit people, etc. We do the same with ethnicity. We don't actually know what ethnicity you are, but we can see your calling trends, blah blah.