I was considering buying a used m3 for around 40k but got turned off by the outragous insurance cost i was quoted by my ins company (21st century). does 4600 a year for 25 year old male, clean driving record, and multi car/ good driving discount sound about right? and if so is there anyway to lower it...

Call another insurance comapny is the best advice I can give you... they would be better able to give you quotes... because it depends on the coverages you want, your location, the location where your car will be stored, the type of use you plan on using, whether it's leased or financed, your age, you maritial status, your past driving record and past driving vehicles...

You can see that there are a variety of factors there... all that being said, if insurance is still high for these cars.

Blame all the other male drivers, age 18-25 for that one. Its their crappy records that are causing your elevated price. The other thing that could be affecting it, believe it or not, is that you haven't had an accident or ticket! Statistically, you are due for an "event".
True story: when my Dad was around your age, his insurance company cancelled him without explanation. He called them and was told that because he had a clean record he was due for an accident or ticket and they wanted out before it happened. That particular experience still ticks him off. To this day, forty years later, he has yet to experience an at-fault accident or ticket.

At age 36, with a fairly clean driving record and rather serious claim history over the past three or four years, I'm paying $1300/year with Progressive. Although I have preferred State Farm in the past (when I could qualify for their Mutual, that is), I'm really sold on how easy it is to deal with Progressive. I explained why I had claims activity - four in two years totalling well over $50,000 that were not my fault, yet they still took me and gave me an incredible rate for my M3. Plus, almost all their local adjusters in my area are really good looking girls.

You should try them. They will also compare their rates to three other carriers just for your benefit. If the rates are still high, try a broker. Just be prepared for carriers that go out of business in mid-policy, and difficult claims and payment arrangements.

I'm 22, I've had a flawless driving record for well over 5 years, full coverage, a small discount for home ower's insurance and I pay ~$2,300 a year for my 2003 M3. I'd say you can do better.

RyanM3,

what company are you insured with and are is your m3 the only car on your insurance?

I'm with State Farm. As far as cars go I only have The M3 with them right now, but I recently purchased a house and used them for Home Owner's Insurance. That dropped my car insurance about $200/yr due to a muli-line discount. I inquired about adding a Merc Benz ML55 or a Hummer H2 to my policy last week and was told the multi-car discount would be about $100-$150 off/yr.

I am 44, own three cars (clean record) and my 02 M3 is billed at 1250 a year. I made the deductible 500 bucks which lowered my annual cost about 150 dollars. Also, since BMw provides the Roadside Service I could drop any towing riders.

I am 44, own three cars (clean record) and my 02 M3 is billed at 1250 a year. I made the deductible 500 bucks which lowered my annual cost about 150 dollars. Also, since BMw provides the Roadside Service I could drop any towing riders.

Roadside Assistance, as far as I remember, doesn't cover accident tows. At least I don't think it did when my 98 was wrecked back in 2001.

In any case, make sure you have rental car reimbursement. That little rider goes a long way towards mking your life easier. I screwed up and forgot to get it, and ended up $1500 poorer. :(

im 21, clean record, just bought an 04 m3, my insurance on my old 97 maxima was 4500/year w/some no name company, but then i called geico when i was looking to buy an m3, and for some reason, my insurance is only 3500/year with the m3!

Maximas are big theft targets. The M3 is quite a bit harder to steal, and thieves don't really go for the whole car - they just like to take the mirrors and grilles. :mad:

im in the most expensive insurace market in the country, im 20 years old and i have an e46 m3, i only pay 1121 a year for full comprehensive coverage. and i have 1 speeding ticket.

go with farmers, they are hands down the best company to be with.

I was considering buying a used m3 for around 40k but got turned off by the outragous insurance cost i was quoted by my ins company (21st century). does 4600 a year for 25 year old male, clean driving record, and multi car/ good driving discount sound about right? and if so is there anyway to lower it...


I plugged your basic info into Geico's website and came up with about $1800 a year for a 2002 M3 (dunno what year your looking at).

$500 collision ded - all the other basic stuff including rental coverage, towing coverage, uninsured driver converage, etc - pretty solid policy.

No accidents in the past 5 years helps - no tickets helps - etc, etc.

$4600 is fekking outrageous. Shop around some.

I plugged your basic info into Geico's website and came up with about $1800 a year for a 2002 M3 (dunno what year your looking at).

$500 collision ded - all the other basic stuff including rental coverage, towing coverage, uninsured driver converage, etc - pretty solid policy.

No accidents in the past 5 years helps - no tickets helps - etc, etc.

$4600 is fekking outrageous. Shop around some.
just plugged in some test numbers into the GEICO website and came out to 1500 for 6 months for a 2004 330ci, which should be half as much of what a 2002 m3 would cost to insure. I entered 0 for accidients/tickets and selcected standard coverage option. Is it this expensive because i live in So Cal?

Haha, I am 16 and the insurance company won't even sell me insurance without one of my parent's names under the account.

just plugged in some test numbers into the GEICO website and came out to 1500 for 6 months for a 2004 330ci, which should be half as much of what a 2002 m3 would cost to insure. I entered 0 for accidients/tickets and selcected standard coverage option. Is it this expensive because i live in So Cal?


That might be it... my number is for PA.