Hi Everyone,

"a guy with no experience".. what is the best insurance company for my r56? any ideas or suggestions?

am thinking of progressive.com

 

The one that gives you the best price, and the best services, without sacrificing coverage.

I would also ask about gap insurance on any new car. Sometimes its expensive, but well worth if, if a wreck should occur with your new car.

 

Dubaian what part of socal do you live in? and what school do u go to?

 

Culver City ... i go to the AIU

 

I went with Progressive...best rate out of all the companies I checked out. Also, they include in their policy a provision that will pay 25% of whatever the cash value of your car is if it gets stolen so it's not Gap but close to it.

Good luck!

 

What do you mean by this? Sounds like a 75% loss.

 

I found the insurance to be very reasonable -- about $250/6months for full coverage here in rural Ohio. That is considerably less than our 2006 X3, but we did get a multi-vehicle discount on the MINI from the company (Nationwide Insurance). We also have our home and travel trailer on the policy and no accidents/tickets so additional discounts apply.

 

Do you plan on taking your car to any track days? If so, you'd want to make sure you are covered for that. Some do, some don't.

 

I live in Los Angeles area, and over here, the cheapest insurance is Mercury Insurance if you have no accidents and tickets. You can also try 20th Century Insurance and Wawanisa (sp?) Insruarnce. They are both very competitive but not as cheap as Mercury for me.

I am with Mercury for over 15 years, but I don't really filed any claim, I don't really know how their service is. They were quick to response, when someone hit me, but I went thru the other guy insurance to get my car fixed. I have to say I am impressed with the other guy's insurance which is AAA. They were helpful and paid premium price to fix my bumper. I got rental for over 2 weeks while they fix my car. The shop did a great job, my car came out better than original condition.

 

A little more than $200 per month (yes, you read that right) for my '07 MCS.

 

My family has used 21st Century Insurance since the 1960's (it was 20th Century). It is a SoCal company. Their rates seem reasonable. I've never had an accident, but other family members have, and I don't recall any problems.

I pay $1,804 per year for two cars. The MCS is $1,136 of that.

 

After reading what you all are paying I suddenly like living out here in the boondocks of Ohio!!!

 

You had to to rub that in, didn't you?

 

I have USAA insurance and will be paying $177 a month for full coverage.

 

Mini4minpin, thats good to know. I have usaa here in Fort Worth, and can pretty much subtract X from Cali rates and know what i will be paying.

 

I think the companies can really vary on price. For example, though Nationwide is very competitive on car insurance in Ohio (their home state), they quoted an enormous rate to insure my motorcycle. I went to Progressive for that at 20% of their cost. Progressive quoted higher on the cars. Go figure!

 

Sorry that was completely unclear! It's 25% on top of whatever the value of the car is at the time it gets stolen.

Hope it's clearer now

 

Haven't checked the insurance yet for the wifes R56, but I already know it will be less than what we were paying for her Honda Accord. We were paying $88.00 a month for the Accord.

On my 05, we are paying somewhere around $70 bucks a month for full coverage. I'm using State Farm here in TX. Been with the same agent for close to 20 years now.

 

$121 / mo total for both 2007 MCS and 2007 Honda Accord V6...$250 deductible with full replacement cost if totalled vehicle within first 3 years. Allstate.

John

 

I actually design rating software for insurance companies so these threads always kind of make me laugh. No intention of being insulting here.

There are far too many variables to compare insurance quotes with people. So many things are taken into account, from driving records, to age, to credit score, to location and the chances of finding someone on here with all the same exact information is quite low.

My best recommendation to you though is to find an agent who has access to several different companies and have them find you the best rate available for your situation.

One thing with progressive is that they say they will give you other companies rates as well. This is actually not true as they would need access to their rating systems for that which those companies are not going to give out to a competitor. The numbers Progressive will give for other companies I would think (Don't quote me on this) are forecasts based on information given by former insureds or by people declining quotes. Note that they always ask you why you are declining and who you have gone with and the rate.

Go see an agent or do a lot of on-line research with some of the agencies that have access to multiple companies, that is your best bet. Let these companies comparison shop for you.