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      03-06-2019, 08:19 PM   #1
Spencenyc
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M850i Insurance

Hi everyone,

Wondering what 850i owners (or prospective owners) are doing about securing fully comprehensive insurance? I’m upgrading from a fully loaded 2017 750i (msrp $108k) to a 2019 850i (msrp $118,845)

I’ve had a clean driving record and been insured with Allstate for 25 years and my yearly insurance is currently $1850 a year and now they’re quoting $4800!?

Why is this the case? Because the car is so new? If so, will it go down? Any ideas or suggestions would be extremely helpful!

Thanks in advance!
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      03-06-2019, 09:14 PM   #2
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Quote:
Originally Posted by Spencenyc View Post
Hi everyone,

Wondering what 850i owners (or prospective owners) are doing about securing fully comprehensive insurance? I’m upgrading from a fully loaded 2017 750i (msrp $108k) to a 2019 850i (msrp $118,845)

I’ve had a clean driving record and been insured with Allstate for 25 years and my yearly insurance is currently $1850 a year and now they’re quoting $4800!?

Why is this the case? Because the car is so new? If so, will it go down? Any ideas or suggestions would be extremely helpful!

Thanks in advance!
That is a lot. I had an i8 and the quote for M850 is less. Went from 1600 to 1500/yr. I'm in FL.
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      03-07-2019, 08:04 AM   #3
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The premium for my 850 was only slightly higher than it had been for my 440 ‘vert. That was with Hartford. Something isn’t right with the quote you received from Allstate.
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      03-08-2019, 06:29 AM   #4
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That sounds crazy high. I checked with USAA, and my X5, 650 quote from $1800/yr to $2600/yr when replacing the 2014 650 GC with an 850. I would certainly shop around.
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      03-09-2019, 01:29 PM   #5
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Hi all, just an update... i got it down to $2000 w Geico with Full coverage...
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      03-11-2019, 12:56 AM   #6
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Quote:
Originally Posted by Spencenyc View Post
Hi all, just an update... i got it down to $2000 w Geico with Full coverage...
If you're not leasing make sure you get the mechanical break-down insurance. It's a fraction of the price (as in 1/20th the price) of BMW's extended warranty..... and windshield replacement is covered with a deductible of only $50.
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      03-11-2021, 06:09 AM   #7
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This car is very expensive, so you shouldn't try to save some money on insurance. I think that every broken detail is very expensive. I drive an old Honda Civic Type-R, but I have the most expensive honda civic car insurance . I found a site where I can put the name of the car, and find places in the state I live where I can insure it at the best price, having all the priorities. I pay for it for already ten years. Luckily I never used it. I am very attentive while I am driving and I don't like to drive faster than it is allowed. This is very dangerous.

Last edited by TimInce; 03-16-2021 at 03:34 PM..
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      03-11-2021, 08:19 AM   #8
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MSRP has proven to be irrelevant for me. My M8 lease is less than my M3 lease was for the same coverages. I currently pay $1222 per year for the M8 and $804 for my X7. If I recall correctly, my X5 was about $200/year more expensive than the X7 which had an MSRP of about $20k more, and my M3 was about $300/year more than the M8 which had an MSRP of about $55k more. This was a new gen in both situations, so of course safety and recoverability features came into play, plus I'm sure their actuaries have some statistics around how horrible people drive in an M3 vs most other cars.

I would say that it is sometimes worth having your current carrier re-quote as a new policy with them from time to time while you're hunting out other companies too. All of their risk calculations on you as a person are basically frozen when your policy was written in most situations. Sure they'll be surcharges they could add then remove for an accident, discounts they apply then take away for a clean driving record, etc., but overall it's still based on the same rates. So things like your credit score and overall personal situation as it was at the first time they wrote your policy will hold true until they write you a new policy.
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      03-11-2021, 02:33 PM   #9
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We use Progressive and it's less than $800 a year for the M8
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      03-11-2021, 03:11 PM   #10
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Quote:
Originally Posted by Wolfman64 View Post
We use Progressive and it's less than $800 a year for the M8
I'd imagine this has a little something to do with that low of a price ----> Location: Upper Midwest
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      03-11-2021, 03:27 PM   #11
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Quote:
Originally Posted by unfoundnemo View Post
I'd imagine this has a little something to do with that low of a price ----> Location: Upper Midwest
I am sure some areas of the country are pricier but bloozemanAZ ended up with a similar deal in Arizona after paying significantly more via Allstate for his M850.

Here is a link to our prior discussion:
https://f92.bimmerpost.com/forums/sh...ight=insurance

It's easy to check. At least you have another reference point...
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      03-11-2021, 05:19 PM   #12
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Quote:
Originally Posted by Wolfman64 View Post
Quote:
Originally Posted by unfoundnemo View Post
I'd imagine this has a little something to do with that low of a price ----> Location: Upper Midwest
I am sure some areas of the country are pricier but bloozemanAZ ended up with a similar deal in Arizona after paying significantly more via Allstate for his M850.

Here is a link to our prior discussion:
https://f92.bimmerpost.com/forums/sh...ight=insurance

It's easy to check. At least you have another reference point...

Yes, thanks to that thread I went from $2500 every 6 months with Allstate for my wife's 2017 X5 and my 2020 M850i ($129K MSRP) to $710 with Progressive. If memory serves with Allstate my wife's X5 was ~$700 so that put the M850i at ~$1800. I had been with Allstate for close to 20 years as well so similar experience as the OP.
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      03-11-2021, 11:37 PM   #13
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Quote:
Originally Posted by Wolfman64 View Post
We use Progressive and it's less than $800 a year for the M8
That is making me cry.
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      03-14-2021, 10:45 AM   #14
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I use full load insurance, even though I drive a Honda Civic. You never know what can happen with your car. I won't get upset if something happens with my Honda because it is a cheap car, and the details are also very cheap. The BMW of eight series is a very expensive car, and if I would have such a car, I would have fully loaded insurance. It is quite expensive, especially for such a car, but if something happens with the car, the insurance can cover the costs of reparation, so it barely can save you a big amount of money, because the details for this car are very expensive.
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Last edited by MegansIons; 03-19-2021 at 12:58 PM..
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