An insurance trick = decent insurance rate + cheap toy?
Super Member
Joined: Feb 2003
Posts: 694
Likes: 0
From: Long Island, NY
08' BMW E92 Coupe
Sounds like a good plan, but we all know how plans look good on paper but then never pan out. My insurance company offers something similar for classic cars and high end sports cars, but there is a mileage limit on it. So say you want to insure a Lambo but theres no way you can afford the insurance. There is a plan to allow you a some what modest insurance rate but when signing the policy you are saying that you will keep the mileage on the car under x amount of miles a year, meaning it isn't your daily driver.
Super Member
Joined: Feb 2003
Posts: 694
Likes: 0
From: Long Island, NY
08' BMW E92 Coupe
my insurance with progressive, full coverage for my car is 102 a month, for my e 55 it is 140. my other car is in a different state, calif, and its not driven much so I wont go into that one.
the trick is to say you are comparing rates, and make up numbers, say company x overs this coverage, but I want to go with you guys because of your reputation etc... Initially with my e 55 the quoted me a price that came to 280 a month and I got it to 140, just by doing what I described above. I was in grad school at the time, and I told them I had a 3.9, I faxed that in and that took a lot of, but I graduated. And the rate is the same, even when I added the C they quoted my a much higher price, so I went into the whole I got a quote from geico that was X amount, but I trust your company... They can come down quite a lot... just talk to em, and keep mentioning other companies and their rates..
Hope this helps.
Oh I am 26 by the way, so I think if you are 25 or younger some other rules apply..
the trick is to say you are comparing rates, and make up numbers, say company x overs this coverage, but I want to go with you guys because of your reputation etc... Initially with my e 55 the quoted me a price that came to 280 a month and I got it to 140, just by doing what I described above. I was in grad school at the time, and I told them I had a 3.9, I faxed that in and that took a lot of, but I graduated. And the rate is the same, even when I added the C they quoted my a much higher price, so I went into the whole I got a quote from geico that was X amount, but I trust your company... They can come down quite a lot... just talk to em, and keep mentioning other companies and their rates..
Hope this helps.
Oh I am 26 by the way, so I think if you are 25 or younger some other rules apply..
Super Member
Joined: Feb 2003
Posts: 694
Likes: 0
From: Long Island, NY
08' BMW E92 Coupe
As a business owner, the last thing you want to tamper with are your insurance coverages. It's the one thing that will protect your assets. Shell out the extra hundred or two for the year and do it the right way. That way should you have a claim, you won't be changing your underwear worrying for a week or two while the insurance company is investigating your claim and driving routines. I can tell you that we had a client a year and a half ago who put his uncle as the primary driver on his BMW and himself as the primary driver for his uncle's Volkswagon (new client, we were unaware). Rear ended another vehicle in the BMW and they immediately wanted to know what was wrong with his Volkswagon? He told the company the BMW is his and it started a huge thing. Finally he paid the damages up front b/c it was taking too long, and about 2 months later the company agreed to pay damages but pro-rated the premium policy back to inception date with the vehicles showing the correct drivers.
Junior Member
Joined: Apr 2008
Posts: 58
Likes: 0
1995 E420
There seems to be some insurance people here, maybe they can help explain my insurance to me. I have a terrible drivers record and im not married and young. I'm paying $270 a month with $1000 deductibles, for a 2003 Audi A4 1.8 Turbo. I figured I'll get a cheaper car and put money into it and save money on car insurance. Instead, the quote for the same policy on a 1995 E420 I just bought came to $360 a month. ??????????
Member
Joined: Mar 2008
Posts: 105
Likes: 1
From: Seattle
2001 R129 SL500, '08-'20 W204 C350
