Quote:
Originally Posted by Ric in RVA
Insurance companies price for the typical claim for most of the premium and for the max claim on a small part. This is why the rate doesn't drop as the car ages.
So the typical claim is left front fender, head light and hood. $3500 on a new car.
Guess what? same thing costs $3500 on a 10 year old car.
The newest cars are becoming a huge issue. The cost of the electronics stashed in the bumper and grill are astronomical and don't always prevent a claim. This is raising rates right now.
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Not quite the case. Shop times don't change with the age of a car, but parts prices to drop (and often substantially) with an older car. That's why I said increase more slowly. If you price insurance with all the same variables (insurer, location, claims history, driver experience, driver demographics) and use a 2005 328i and a 2015 328i, you will get a lower quote on the older vehicle (although better anti-theft tech and horsepower differences muddy the waters a bit).