Here's a new article in the Wall Street Journal which says the costs of insuring smaller cars like the MINI are offsetting the lower fuel costs.
A MINI is compared in the first few paragraphs.

From my perspective, the article fails to consider the "Fun Factor". So, I feel I'm still ahead!

http://online.wsj.com/article_email/...zcyMTMxWj.html

 

"A 40-year-old male driver would pay an average of $1,704 to insure a 2009 Mini Cooper that gets 37 miles per gallon on the highway, according to a study by Insure.com, an online insurance broker. That same driver would pay only $1,266 -- a difference of $438 -- to insure a Toyota Sienna Minivan, which gets 23 mpg."

LMAO so I guess we should run down to the Toyota dealers and wait for great deals on used MINI's.

Really who buys a MINI "just" for higher MPG? I like the Wall, but they missed the mark on this one and a little more research would have been helpful.

 

My BMW was much lower then my MINI, ?

 

I'd like to know where the heck are they paying those kinda figures for insurance? Or did that 40 year old male have points off his license for moving violations? I don't pay nowhere near that for my MCS and its a few bucks cheaper than what I was paying for my last vehicle, a 2003 Rav4.

 

I'm curious too - I don't have my insurance policy in front of me, but I know I only pay $2400/year for *two* 2006 MCS convertibles, a 1998 Ducati motorcycle, a 1972 Dodge Charger, and a 1983 Dodge 4WD pickup. And that's with full coverage/low deductibles on everything except the truck.

(38-year old married male)

 

Hows about we use real numbers? Same deductibles, same drivers, comparing 6 month premiums, mileage, and fuel preferences and costs (vehicles selected because they're in our extended family "fleet" - wish I could own 4, but...):

2002 Honda Odyssey costs $241
2006 MCS costs $275
2001 VW Cabrio costs $200
2001 Toyota Camry costs $265

At 12000 miles/year, using current fuel mileage factors, factoring in premium gas for the MCS (+ $0.40/gal), midgrade for the Camry (+0.20/gal), and regular for the cabrio and van ($3), the total annual costs are as follows:

Odyssey: $2200
MCS: $73 cheaper
Cabrio: $504 cheaper
Camry: $37 cheaper

The minivan also compared favorably to some Minis during a recent autocross (in times, anyway - steering feel, body lean and looks are another story!). The cabrio is slow, but fun (hey, the bloody roof comes off!). The Camry is, well, a really nice long distance car. I still prefer the MCS, but that Odyssey does drive well! Of course, it's got H&R springs, KYBs all around... and hauled 5 people and a camper back from a recent track event...

This time the WSJ didn't quite get it right, but YMMV, it depends on your area, driving habits, vehicular needs, etc.

 

All I know is that with full coverage and low deductibles, my 09 MCS costs $1200 to insure yearly in NJ, vs. $800 for liability alone on a '93 Mustang GT

 

MINI is $719/year @ work/school rate and Camery is $528/year @ pleasure rate.

Difference is $191/year, but rates are different (lower for "pleasure").

 

Another point the WSJ missed is they did not say if the car was a MC or MCS. Another part of rating is the performance rating , Standard , Intermediate, Sports and high performance. All else being equal, a standard car is the least moving to the high performance being the most expensive to insure. The MC has standard rating, MCS is intermediate, a base Corvette is sports and the Hemi Dodge Challenger would be High. But in an odd twist of things a Toyota Rav4 with a v-6 is high performance rating. I am not suprised that DARMOG's MCS was less than his Toyota RAV4. Also as the MC goes it is an expensive small car.

I will add to DixonL2 list of underwriting factors - your insurance score which is based on your credit score, the performance rating of the auto, miles driven. When purchasing a new policy they even care about your previous policy limits, length of time with present carrier and number of days in advance you purchase the policy.

WSJ also missed the fact that your policy pays for your car and injuries you cause to others. Since a small car will cause injuries to others, the SUV should cost more to insure and some insurers cost do charge more for SUV's. The WSJ used a few examples to over simplify the issue. Travelers Ins company gives a 10% discount on Hybrids.

If you are purchasing a new car, call your agent before you purchase if the cost of insurance is going to effect your decision to purchase.

 

580.00 6 months
2006 BMW
2000 S2000

 

$610/6 mos full coverage. No moving violations, excellent credit, homeowners with same company.

2003 MINI Cooper
2008 Clubman S

 

Note the article source: WSJ. I'm not saying they may have an agenda, but they may have an agenda.

 

My previous vehicle was an s-10 PU truck. My insurance for the MINI (same coverage) went up only $40 a YEAR. Not sure where these bozos are getting their numbers.

 

I pay $90 per month,for a 08 MCS and 88 911 Carerra both are fully covered

I did not buy the MINI for the mpg, but for the fun factor the MPG was

 

Does anyone know the total number of factors considered by the insurance company? I can name a few but not all, please add to list:

- Driving record
- Age
- Gender
- Driver's Education
- Multi-car discount
- Credit history
- Car type and category...

 

- Geographic location
- Antilock Brakes
- Airbags
- AntiTheft Protection
- Distance to Work or School
- Location Location Location

 

Bingo.

 

True, there are 101 things that factor in to the total cost. But that (the total premium) is not the issue here. What the WSJ says is that all else being equal changing from a larger car to a MINI will increase your premium about 30%! That is hog wash. Mine went up about 7%!

 

MINI is $719/year @ work/school rate and Camery is $528/year @ pleasure rate.

Difference is $191/year, but rates are different (lower for "pleasure").

Above difference is 36%

Don't know how much is due to "Work/School" vs "Pleasure" but otherwise coll/comp are $1,000 deductable on both policy's (Teachers Insurance, 'lowest rates')
and values are $20k for Camery and $21k for MINI.

 

Call your agent and see what it would be if you changed the MINI to "pleasure rate".

 

I have 3 2006 JCW's. They cost 50-55 per month with full coverage (collision, rental car, towing, comprehensive). 59 yrs old in central MD. For comparison my 2006 Acura TSX is down as my daily driver and its about $5 a month cheaper for same coverage

 

With multicar and full coverage, my 2005 justa runs me $808 a year, single male homeowner in his mid 40's. The MINI is a pleasure car though, not my daily.

 

I recall my first 2002 Mini as they were reintroduced to the US market. No major insurance company would insure it since it was too small, consider a death trap, and they were so new! Much, much easier now.

 

I just checked and my Mini costs $120 more per 6 month policy then my 4x4 F150 does... My Mini has collision coverage and the truck does not. Pretty sure my fuel savings far outweighs the increased insurance cost vs driving my truck 100 miles a day.