Does anyone know of a good insurance agent/company for a 2024 BMW iX 50 in New Jersey?
Aiming for 100/300 bodily injury, 100 property, 100/300 uninsured motorist, 2500 deductible.
Any leads would be much appreciated!
You just need to shop it around. 2 people with the same car in the same ZIP might not have the same rate.
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Isn’t max deductible for BMW $1000, or has inflation changed that number since '21.
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Insurance guy here (no…not an agent. I build statistical models at insurance company to price insurance and agents just use numbers without having full knowledge of how they were derived)
My advice for you is to get as many quotes as possible. For newer EV models, insurances companies haven’t figured out or accumulated enough data to price insurance accurately yet. It’s honestly all over the place, and tesla seems to be the most volatile one. iX is also priced using approximation at many companies. Use this to your advantage and go with a company that underpriced iX. The price variability you will see among insurers will be a lot more than what you are used to seeing with older ICEs.
Companies underpricing iX will lose money short term and will likely to raise price at renewal if they figure it out. In the meantime, you can enjoy the cheaper price for a couple year.
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Appreciate this color as I’ve had some major EV insurance sticker shock and was wondering why but high var with the small data sets totally makes sense.
Is there a good way to get a bunch of quotes at once anymore or is it still semi-manual?
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you can try googling but insurance marketplace is not really a thing in the US unlike other countries unfortunately. I’m a digital guy so I’ve never tried but you can try calling or finding an independent agent (as opposed to captive agent who only work for one insurance company) to get multiple quotes. I’ve never done it before but that’s what I learned in theory lol
I’m also in NJ and have iX delivery coming in 1-2 weeks, so I will have to go through this too. My plan is to get a quote from bigger players like geico, progressive, allstate, AAA (?), and maybe smaller ones like metromile or plymouth rock if they are available. At one point I will get tired and the time spent getting individual quote will not be worth it but it could be worth it to check 4-6 asides from my current insurance company.
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Got it makes sense!
I was interested in some of the EQS deals that have been floating around but 1 call to my current insurance co talked me out of that (vs my current X5 45e).
EQS to iX risk relativity should be relatively stable (either both are high or both are low) within the same insurance company. EQS is likely to be higher than iX but if your current company gave you scary looking number for EQS, your iX number has good chance of being pretty high for you. Definitely try getting quote from 3-4 new ones for the same amount of insurance coverage. It should take only like 5-10 mins each if you have VIN. Skip some of tricky questions (revisit them later) like options and focus on doing apples to apples comparison on coverage amount, deductible you get to customize in the later step.
100% call an insurance broker that can shop it for you. They will know who has the best rates on higher end EV vehicles.
NJ licensed insurance broker here. Yes, get as many different quotes as possible. Use an independent but also check out the captive companies (State Farm, Allstate, Farmers). The auto insurance market is an absolute sh*tshow right now, and rates over the last 2ish years have skyrocketed, so now more than ever all of the factors they use to determine your rate are under a microscope and rated different by each company (credit, location, vehicle, driving history, prior insurance history, etc)
Would be happy to answer any questions you may have, feel free to shoot me an email.
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I work for a few companies where collision on a Tesla is 3-4x those of other companies….the disparity is pretty wild.
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Probably from the inability to get parts and fix anything Tesla in a timely manner
A while ago we were entertaining a partnership with Jerry, an auto insurance comparison platform, but didn’t end up moving forward due to resource constraint. You can let us know what your experience is with them. Hope it would help.
Jerry is garbage. I’ve used them to get quotes every 6 months for the last few years (cuz it only takes a few seconds), but all their quotes are 30-40% higher. Even within the same company if I get a quote directly, its much cheaper than jerry
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Thanks a lot for your replies here! Very helpful. @justblaze24 I will reach out to you to understand the process better 
Thanks for your contact info.
I guess I will resort to shopping around for insurance as widely as I can
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I just tried to get a quote for both my old 2007 Honda and a prospective new vehicle, their rates were extremely high, from smaller insurers.
Unfortunate!
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