Don’t keep hopes too high. Mine only started going down after 5 years.
The insurance cost goes way down when you get old, assuming no accidents/dui. I pay $388 every 6 months (I am 43). On the downside, you get old.
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Has anyone obtained this $1k waiver in writing? If thats possible, I would be interested in raising my deductible (as Id never make even a $1k claim as it would be foolish financially).
I ask about getting it in writing as the BMW lease agreement clearly states the insurance requirements and a $1k deductible is noted. Check section 20.
I had my then girlfriend (now wife) as the primary on the insurance account when I bought my 18’ Audi S5. I was 24 at the time (got my license at 18, no accidents or tickets) and I was getting quotes from $300/mo to $800/mo. I put my gf first (same age and history) and me as a secondary and the rate dropped to $180/mo on esurance. I have also managed to keep my rate low by switching companies every 6 months to a year since the rates will raise. Many have a “conquest” program where you get a discount for switching even if you already had them previously. So I (26 now) have been switching between progressive and esurance with a $250 deductible (collision and comprehensive) and $3000 for custom parts for around $150/mo for two cars.
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Yes call bmwfs and ask to speak to a supervisor
This is good to know. I’m surprised they have the 1k requirement. Studies show your average BMW owner has a 5-6x salary over your average car brand buyer. You’d think they’d allow you to “self-insure” a little more than 1k.
Any citation for that statistic? Actually would be interested in reading that.
This is even dated a little. Those numbers have definitely increased. I first heard this information from my local F&I manager. Conversation started as a result of him saying how your average BMW buyer needs to be treated differently than XYZ, etc. Bla Bla.
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I have been with Geico for years, even when I didn’t own a car in NYC and had a non-owner’s policy (covered rentals and was required for umbrella liability policy).
Moved to LA, leased a car, and no one has been able to touch them on price. Service is great as well (no claims yet). Even recently got a quote from metromile (pay by the mile startup) and they couldn’t beat Geico traditional policy assuming 500 mi/month.
I’m also in NoCal and lease an m340i. Keep shopping around, and use a broker if you still don’t find something reasonable. I ended up switching to progressive from Geico and saved about $100ba month on the m340i.