Just got my own insurance...questions

[jht3]

I've been covered under my mom's policy, but now i've broken off since i am 25 and am financially independent. oh yea, a speeding ticket in december =(

i've always had USAA, so i went with them and basically transferred everything over in 10minutes on the phone. i have 2 cars ('95 4runner and the m) with the 4runner as the daily and m3 as a weekend fun car. roughly 12k and 5k mileages set on both. i have $500 deductibles on both. as for the other numbers, i don't know much about but they seem very high and should cover almost any accident.

one thing that i am worried about is they said since my m3 is over 15yrs old, they don't usually offer collision insurance, only liability. they ended up giving me collision, but wtf? i told him this isnt any normal 15yr old beater car and that they are worth significantly more on the market than blue book.

i'm paying roughly $200 for the m3 and $400 for the 4runner every 6mo. i obviously don't want to pay MORE, but i also want my cars covered. i searched but didn't find much. what are your coverages?

[Mmark]

91 m3 Full coverage $271 every 6 mo.
I'm 18 years old :cool:
m

[blyguy]

Your rates are pretty spot on - I'm 29 and live in Falls Church, and pay $500 total every six months for the M3 and a 1997 Honda Accord. Same mileages per year roughly. BUT, I don't have collision on the M3 yet. With collision, I would be looking at around 600-650.

Mmark - where do you pay that ridiculous insurance amount? N dakota?

Bryant

[aaronmjr]

Originally posted by Mmark
91 m3 Full coverage $271 every 6 mo.
I'm 18 years old :cool:
m

you have to be under your parents or something.. thats crazy.

BTW...your only 18? i thought u were like 40. haha.

i havent had insurance on my M3 since like august of last year but geez i feel like i was getting screwed... i was paying around $1000 every 6 months for liability.... one speeding, one stop sign and i was 21 at the time.

[ydubbs4]

As I have a loan on my 88 M3 (from USAA no less) I have to have both liability and collision. With middle of the road coverages, I sport and annual bill of $1150, and that is with a safe driver discount of over $400 per year. Mind you it is insured as a 2nd car (I have a company car) at 7500 miles per year. Gotta love living in Mass. I am 25 BTW.

Will

[Mmark]

Originally posted by aaronmjr
you have to be under your parents or something.. thats crazy.

BTW...your only 18? i thought u were like 40. haha.

Heh, Heh...
Trying to get JHT wound up :ha:
m

[jht3]

my fear is that if my m3 does get damaged, insurance won't pay out to either fix or replace it. i think my rates are about right for my age, area, driving record, etc. my m3 isn't a perfect example, but it's in pretty good shape for an old car

[Mmark]

They'll pay once, then dump you right afterwards.
Once you hit 26 things should be more stable and it is easier to get insurance.

I was 24, single and I tried to insure a financed brand new RX7. Farm bureau basically to me to F8ck off ($950 every 6 mo).
State farm let me(current customer) insure for the paltry sum of $450 per 6mo.

needless to say, that with the car payment, insurance, rent that I ate very little.
m

[pt///m3]

I also have USAA (not from me, my dad). Had them for a long time. I pay $283 / 6 month for collision and liability. $500 deductible. Clean driving record, married, over 25. Not primary driver.

They are good with payouts for damage, but I am less than impressed in getting them to do OEM parts. I had to replace a windshield on an E36 and had to go through hoops to get them to agree to pay for an OEM piece. They did eventually though (and I sold the car before I put the window in - new owner wanted to do it with his shop)

They do provide collision and liability, just need to ask them. Also may want to call them up and see what the price would be for classic insurance though their partner ( I think it is hagerty).

If, heaven forbid, something happens to your M3 USAA starts at a book value of about $10,000 for these. They are "open to listen to your thoughts on price" though.

[slowguy]

Or (for more $$, of course) they will insure the car for an agreed value. I did this with my more pristine M3. Went to a dealer, had them fill out an appraisal, and sent it off to the company. I hope I never find out if it really works.

[jht3]

Originally posted by slowguy
Or (for more $$, of course) they will insure the car for an agreed value. I did this with my more pristine M3. Went to a dealer, had them fill out an appraisal, and sent it off to the company. I hope I never find out if it really works.

how much more did it cost for agreed value? $20 or $200?

[roberte]

"i've always had USAA, so i went with them and basically transferred everything over in 10minutes on the phone."

You guys may think I’m being a prick about this, but it always chaps my butt when I hear of people who have USAA for car insurance and they didn't earn the right to get it on their own. You need to consider yourself lucky that you are allowed to keep them as an insurance provider. A lot of people do not realize is that USAA originally was created to give ONLY Military Officers a way to get car insurance more reasonably and to address the special needs of the members of the Armed Forces. Nowadays, they have opened their doors to include Senior NCOs and certain DOD civilians, but I know for sure they have not opened it up to the general public as a choice of insurance companies.

I earned the right to become a member of USAA in 1983 and have had very good service with them ever since. If you feel your car is worth a certain price, they do have a program where you can insure it for an amount that you declare. Granted, it will cost you more than standard insurance, but you are going to have to ask yourself what your car is really worth to you. I have yet to meet anyone who didn't appreciate the level of service they get from USAA versus other insurance companies, but who knows, you may be the first.

Personally, my biggest complaint with USAA is their “windshield” program that they have with Safelight. Basically, they want Safelight to do all of their windshield replacements for them using their parts. I called Safelight on this and they stated that they didn’t have a separate part number for E30 M3 vs the standard E30. This little detail and a previous horror story I had from them made me chose to replace the windshield for my M3 out of my own pocket.

If you look hard enough, you will find people who have had horror stories with just about every insurance company out there. I personally had a bad experience with State Farm. In my experience, I have discovered that most of the time you get what you pay for. What I am trying to say is that you can probably find cheaper insurance out there for your car, but you are going to have to ask yourself if they will stand behind you if you do have a problem and will they keep you after it is resolved?

[jht3]

Originally posted by roberte
"i've always had USAA, so i went with them and basically transferred everything over in 10minutes on the phone."

You guys may think I’m being a prick about this, but it always chaps my butt when I hear of people who have USAA for car insurance and they didn't earn the right to get it on their own. You need to consider yourself lucky that you are allowed to keep them as an insurance provider. A lot of people do not realize is that USAA originally was created to give ONLY Military Officers a way to get car insurance more reasonably and to address the special needs of the members of the Armed Forces. Nowadays, they have opened their doors to include Senior NCOs and certain DOD civilians, but I know for sure they have not opened it up to the general public as a choice of insurance companies.

I earned the right to become a member of USAA in 1983 and have had very good service with them ever since. If you feel your car is worth a certain price, they do have a program where you can insure it for an amount that you declare. Granted, it will cost you more than standard insurance, but you are going to have to ask yourself what your car is really worth to you. I have yet to meet anyone who didn't appreciate the level of service they get from USAA versus other insurance companies, but who knows, you may be the first.

Personally, my biggest complaint with USAA is their “windshield” program that they have with Safelight. Basically, they want Safelight to do all of their windshield replacements for them using their parts. I called Safelight on this and they stated that they didn’t have a separate part number for E30 M3 vs the standard E30. This little detail and a previous horror story I had from them made me chose to replace the windshield for my M3 out of my own pocket.

If you look hard enough, you will find people who have had horror stories with just about every insurance company out there. I personally had a bad experience with State Farm. In my experience, I have discovered that most of the time you get what you pay for. What I am trying to say is that you can probably find cheaper insurance out there for your car, but you are going to have to ask yourself if they will stand behind you if you do have a problem and will they keep you after it is resolved?

i took a huge rock hit to my 4runner's windshield in November and they sent Safelite out to "fix" it. well it's repaired, but it looks like shit. i didn't feel like paying out of pocket for a new windshield on a utilitarian vehicle. good to know about your experience w/ USAA on the m3 windshield.

also when i rear-ended a car in my 4runner, USAA didn't want to replace my busted parts with new oem parts because it was over 5 years old at the time. they tried to find junkyard parts to fix it with, but thankfully they weren't able to and i got all new parts. surprising to me, they replaced my aftermarket bumper and fog lights as well as the front mud tires.

in regards to your chapped ass, i "earned" the right to have USAA because of my dad's 43 years of military and government service. yes, it's true that i am not an officer. i think it is commendable of them to "grandfather in" former dependants like me.

i'm not trying to find cheap insurance. the intent of my original question was if "normal" collision and liability coverage is enough on our m3's.

[mssVT98]

I had to get my M3's windshield replaced through USAA, and at first they tried to go through Safelite. Fortunately for me, they had the wrong part (even though I asked specifically if they had the M3 windshield) and had to order it. In the meantime, I called up USAA, explained that Safelite sucks and why, and they allowed me to go through the glass guys I wanted to use. I got BMW glass too. No problem at all really, but part of it may have been that I let Safelite try first.

This was my first experience with USAA (I get it through my fiance, so I'm "earning" it by getting married), and all in all it was positive. Very flexible if you just ask nicely.

[roberte]

Marrying a service member and getting on their policy is in no way the same as keeping USAA because your father, brother, uncle, etc. once was a service member. I laud you in your choice of marrying a member of the armed services and wish you all the best. My point is if you or your spouse have never served in the military and really feel that you have "earned" the right to some of the benefits, why dont' you take a trip down to either Bethesda Naval Hospital or Walter Reed Army Hospital and ask one of the patients if they agree with your assessment?

As for being a member of USAA, all I can say is that they have changed their business model as to who they are serving. What started out as a "military only" service company will eventually end up as a public service company like all of the rest. Do I like it? - No. Am I going to do anything about it? - No. Am I entitled to my opinion and can I vocalize it? - Yes. Do you have to agree with me? - No. Lets just agree to disagree and move on.

I'm sure that there are other veterans in this forum who feel the same way as I do regarding this matter and some that disagree with me. This thread needs to get back to the original subject or be dropped altogether. The point of this forum is to discuss M3s.

Thank you.