holy insurance!!!!
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Joined: Aug 2002
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holy insurance!!!!
Ok, I just priced an 2003 E430 (they dont have it for the E500 yet, but those have to be close) and it came out to a whopping 9k a year! Isn't that abnormally high considering I have a perfect driving record, good grades discount, etc? And thats in Georgia! Something seems wrong...
Member
Joined: Dec 2002
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From: Bal Harbour, FL
E500W '03, Porsche Cayman S '06
Age and Marital Status make a BIG difference!
If you are under 25 and unmarried you will pay a premium.
When I was 20 I bought a VOLVO 740 and they wanted 14K per year to insure, admittedly I had a less than perfect record (hadn't paid a speeding ticket, not recommended!), but had NEVER made a claim.
Under 20 and it will be extremely expensive to insure you for a luxury car.
Unfortunately, the REAL statistics for auto liability are ignored and the most apparently high risk drivers are penalized.
Best bet is to buy a less valuable car and tweak it to perform the way you want, but if you have your mind set on the new E, it will be pricey to insure regardless.
I'm over 30 and my rates for the E500 are less than $1500 per year.
When I was 20 I bought a VOLVO 740 and they wanted 14K per year to insure, admittedly I had a less than perfect record (hadn't paid a speeding ticket, not recommended!), but had NEVER made a claim.
Under 20 and it will be extremely expensive to insure you for a luxury car.
Unfortunately, the REAL statistics for auto liability are ignored and the most apparently high risk drivers are penalized.
Best bet is to buy a less valuable car and tweak it to perform the way you want, but if you have your mind set on the new E, it will be pricey to insure regardless.
I'm over 30 and my rates for the E500 are less than $1500 per year.
Senior Member
Joined: Nov 2002
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From: Fort Myers, FL
'23 EQE 350 4MATIC
Re: holy insurance!!!!
Originally posted by androza
Ok, I just priced an 2003 E430 ....... And thats in Georgia! Something seems wrong...
Ok, I just priced an 2003 E430 ....... And thats in Georgia! Something seems wrong...
Something is wrong!!! There is no 2003 E430
How can the insurance company give you a quote on a non-existent model?
Nevertheless, that is a very, very expensive insurance premium. As already mentioned above, single and under 25 can be a very expensive proposition for insurance purposes.
Last edited by saintvir; Jan 17, 2003 at 11:20 PM.
Member
Joined: Dec 2002
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From: Bal Harbour, FL
E500W '03, Porsche Cayman S '06
Most insurers don't have the E500 built into their systems yet.
Most insurers have all models limited by the systems they use to quote. If there is no match they may use the most similar previous year's model.
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Joined: Dec 2002
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From: Irvine, CA
07 M6, 05 Noble, 01 S4, Smart ForTwo
My quote:
I'm 21, ordered an E500, live in So Cal, 2 speeding tickets in last 36 mos, $1550/6 month policy with 21st Century. Includes slight multicar discount. I currently have an A4, and it only went up 90 dollars. Hope this helps
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Its weird, I just put in 3 other cars (BMW 330 sedan, Jag S4.2, E320) and all of them came with $200 of each other, even when I changed them from my GA residence to my CT residence. I think theres something wrong with my quote...
Newbie
Joined: Jan 2003
Posts: 12
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From: Good Old New York City
E500 Sport
E500 NYC Rates
Wow... I guess Brooklyn, NYC is still one of the most expensive places for car insurance.
I am 34, have a perfect driving record for 16 years and my insurance rate for the e500 was $4800 a year. My 2.8 Audi A4 was $2600 per year.....
I am 34, have a perfect driving record for 16 years and my insurance rate for the e500 was $4800 a year. My 2.8 Audi A4 was $2600 per year.....
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From: .
08 GL450
I pay $900/year on my new Porsche 996 Twin Turbo - it's complex -all calculated by the vehicle loss history , driver demographics , driver record , claim history ,zip code and how much other insurance biz you give them . 
Last edited by MKW; Jan 18, 2003 at 11:38 AM.
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Member
Joined: Jan 2002
Posts: 216
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From: San Diego, CA
02 CLK 430 Coupe
Originally posted by androza
Does anyone think that something is wrong with the Geico thing that I priced it at? I dont think 4 cars ranging from 40-65k should all come within $200 of themselves...
Does anyone think that something is wrong with the Geico thing that I priced it at? I dont think 4 cars ranging from 40-65k should all come within $200 of themselves...
Member
Joined: Sep 2002
Posts: 235
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From: NY
2003 s500 sport
Ed I am also insured in Brooklyn and my insurance is like $3400.
I am insuring 98 e430. It is a ridiculous how they have those statistics that for some reason cars in Brooklyn command such high premiums. Same insurance in Queens would be at least $1000 less. I am moving to Queens!
Iam 28 and perfect record.
I am insuring 98 e430. It is a ridiculous how they have those statistics that for some reason cars in Brooklyn command such high premiums. Same insurance in Queens would be at least $1000 less. I am moving to Queens!
Iam 28 and perfect record.
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John Deere
Originally posted by 6.3
Ed I am also insured in Brooklyn and my insurance is like $3400.
I am insuring 98 e430. It is a ridiculous how they have those statistics that for some reason cars in Brooklyn command such high premiums. Same insurance in Queens would be at least $1000 less. I am moving to Queens!
Iam 28 and perfect record.
Ed I am also insured in Brooklyn and my insurance is like $3400.
I am insuring 98 e430. It is a ridiculous how they have those statistics that for some reason cars in Brooklyn command such high premiums. Same insurance in Queens would be at least $1000 less. I am moving to Queens!
Iam 28 and perfect record.
Move a bit further...to NJ. For the same car I pay about $800 per year with max coverage..
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John Deere
Nope. Around $1600 for 2 cars (equally charged). $500 deductable.
But, it helps when you are married, and also carry homeowners on the same plan, and also own part of the insurance co.
just kidding about that last part.
But, it helps when you are married, and also carry homeowners on the same plan, and also own part of the insurance co.
just kidding about that last part.
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Joined: Sep 2002
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2004 E500
Re: Re: holy insurance!!!!
[QUOTE]Originally posted by saintvir
Something is wrong!!! There is no 2003 E430
How can the insurance company give you a quote on a non-existent model?
Well, Kemper (my current insurer) quoted me on the same vehicle (an '03 E430) for my then future E500 because their database didn't recognize either an E500 model OR my VIN (which I thought was ridiculous)! But because they said that is normal with a new model, and the quote given to me was just "ok" (about $2000/yr w/$500 ded.), I went ahead and bought my car.
Now the good part - after buying the car I of course called them to tell them so... and they proceeded to quote me $3000 (a 50% increase). I told them that there was no way that I was going to pay that rate in the long-term, so they better reconsider their position. After being put on hold for a few minutes, the rep told me that "that's the correct rate - sorry", after which I responded that I was going to shop for another insurer (but accepting the rate for the next 30 days or so)!
And later, when I actually received the paperwork, the model (yes, that same 2003 E430) and the VIN they recorded was just flat wrong! So here I am now, driving some non-existent car!
I've already shopped around (my current policy expires in about a week) and have received much a better (and accurate) quote from Liberty Mutual. So unless I can get Kemper to be competitive, I'm going to be insured by a company that at least acknowledges the existence of the E500 (and doesn't want to otherwise screw me in the process).
Sorry for the rambling, but it has been quite an experience!
Something is wrong!!! There is no 2003 E430
How can the insurance company give you a quote on a non-existent model?
Well, Kemper (my current insurer) quoted me on the same vehicle (an '03 E430) for my then future E500 because their database didn't recognize either an E500 model OR my VIN (which I thought was ridiculous)! But because they said that is normal with a new model, and the quote given to me was just "ok" (about $2000/yr w/$500 ded.), I went ahead and bought my car.
Now the good part - after buying the car I of course called them to tell them so... and they proceeded to quote me $3000 (a 50% increase). I told them that there was no way that I was going to pay that rate in the long-term, so they better reconsider their position. After being put on hold for a few minutes, the rep told me that "that's the correct rate - sorry", after which I responded that I was going to shop for another insurer (but accepting the rate for the next 30 days or so)!
And later, when I actually received the paperwork, the model (yes, that same 2003 E430) and the VIN they recorded was just flat wrong! So here I am now, driving some non-existent car!
I've already shopped around (my current policy expires in about a week) and have received much a better (and accurate) quote from Liberty Mutual. So unless I can get Kemper to be competitive, I'm going to be insured by a company that at least acknowledges the existence of the E500 (and doesn't want to otherwise screw me in the process).
Sorry for the rambling, but it has been quite an experience!
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Joined: Dec 2002
Posts: 64
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From: Chicago suburbs
2003 E500
I just received a quote from my insurance company for the E500 I have on order. Annual premium is $1,122 for max coverage with $500 deductible. The part I don't understand is that the premium for the MB is only $383/yr. more than what I'm currently paying for a 1992 Lexus ES300.
Go figure!!
Go figure!!
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"Nope. Around $1600 for 2 cars (equally charged). $500 deductable.
But, it helps when you are married, and also carry homeowners on the same plan, and also own part of the insurance co."
Oh, ok, I thought you were saying NJ is worse, when you were actually saying it was better.
But, it helps when you are married, and also carry homeowners on the same plan, and also own part of the insurance co."
Oh, ok, I thought you were saying NJ is worse, when you were actually saying it was better.
Senior Member
Joined: Feb 2003
Posts: 420
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From: Los Angeles
2003 E320
There might be a difference among insurance companies, too. I priced insurance before I bought the car, and my insurance company's quote on the E500 was very significantly higher than for the E320. They told me that any car with over 300 hp had a very significant impact on the premium.
