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General E46 Forum
This is the place to get answers, opinions and everything you need related to your E46 (sedan, coupe, convertible and wagon) BMW!

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Old 11-16-2012, 11:41 AM   #21
jxs0402
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Keep in mind that even with liability coverage you can bump up your um/uim coverage and your BI coverage as well. The UM/UIM would be for you if the other person has low BI limits and the BI coverage is for anyone you might hurt. Being 18yrs old w/either of these models this would be a smart thing. This will not change your permiums that much. Also some states do offer UMPD coverage (i know VT is one) where if you are involved in an accident and the other person leaves the scene (providing they are at fault) or a parked hit and run - this would cover your vehicle. The prior adjuster that responded to this maybe able to tell you if your state offers the UMPD coverage. Another thing to remember is you can add just comp coverage to a liability policy. You do not have to have collision coverage. Comprehensive coverage will cover things like animal hits (deer), fire and theft, if a tree limb blows down on your parked car, etc etc.

Bottom line is get multiple quotes for liab, "full coverage", and just comp. So get 3 different quotes from each carrier you look into and way your options from there. No one here knows how much money you have, just you do. Good luck kid! Be safe but have fun!

Last edited by jxs0402; 11-16-2012 at 11:42 AM.
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Old 11-16-2012, 11:44 AM   #22
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Originally Posted by peytonracer4 View Post
Accidents are accidents. Not "ha did that on purpose" accidents happen to the best drivers I promise. No matter how careful you are there will always be that moron soccer mom doing her makeup and on her cell phone while yelling at her kids in the SUV she thinks she can see out of
Which is exactly why having full coverage on a non-disposable car is a good thing.

There is also nature and people who are just looking to mess with your car.
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Old 11-16-2012, 11:55 AM   #23
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I'd rather be able to maintain my car and pay for anything I cause than have to pay $500+ more a year being so young. I was actually thinking e36m3 coupe and zhp sedan so this helps greatly.
Yah, the premium will increase with the full coverage. But think of it this way, if something happens and you hit a curb, or a lamp post then you will be out of the whole amount for your car off your pocket. So, 500 a year seems to be a logical amount to spend to have a peace of mind.

Being a teenager doesnt help, but having only liability insurance doesnt help either. I assume you will be driving to school, and god knows how many door dings and scratches you will get, not to mention getting keyed or getting your car broken into. You dont want those costs to come out of your pocket. If it was a beater then liability makes sense but for an e46, liability alone is not enough.
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Old 11-16-2012, 11:56 AM   #24
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The joys of owning a M3 being 17 years old.

The premium for full coverage is probably more than the car is worth, at least in certain areas even with a clean record.

Seriously being under 25 your premiums will always be expensive, especially being male.
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Old 11-16-2012, 12:15 PM   #25
Jesse M
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I owned a 99' M3 in my name when I was 19. Insurance under parents was 80 for full coverage.

My current 05 ZHP is $140, also in my name. That is with seven speeding tickets and one prior accident btw, good student discount, multiple car/policy discount..etc 23 now.

Just to give you an idea, also live in RI.
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Old 11-16-2012, 12:43 PM   #26
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Originally Posted by Jesse M View Post
I owned a 99' M3 in my name when I was 19. Insurance under parents was 80 for full coverage.

My current 05 ZHP is $140, also in my name. That is with seven speeding tickets and one prior accident btw, good student discount, multiple car/policy discount..etc 23 now.

Just to give you an idea, also live in RI.
Jesse M:

You need to tell this kid who your insurance company is!!
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Old 11-16-2012, 12:53 PM   #27
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It's more important for you to buy a Honda, and then switch insurance companies every year.
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Old 11-16-2012, 01:00 PM   #28
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It's more important for you to buy a Honda, and then switch insurance companies every year.
Who
The fvck
Are you.
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Old 11-16-2012, 01:06 PM   #29
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Who
The fvck
Are you.
The person with the best Honda you've ever seen. Don't you wish your car was like mine? Is that not what you want?
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Old 11-16-2012, 01:07 PM   #30
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I hope your Honda falls off the white cliffs of Dover.
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Old 11-16-2012, 01:27 PM   #31
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It's more important for you to buy a Honda, and then switch insurance companies every year.

Now I have a sneaking suspicion on who you are.


Still laughing on the name you have chosen.
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Old 11-16-2012, 01:38 PM   #32
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your better bet would be to buy a car you can afford to maintain and have proper insurance coverage on.
This.

Trust me OP, it's going to suck when someone hit's and runs your car, key's the s*** out of it, you hit a deer, a tree falls on it, etc... and you have no coverage. Hell, I'm calling my agent today because a damn rock cracked my windshield on the highway yesterday

Quote:
Originally Posted by Jesse M View Post
I owned a 99' M3 in my name when I was 19. Insurance under parents was 80 for full coverage.

My current 05 ZHP is $140, also in my name. That is with seven speeding tickets and one prior accident btw, good student discount, multiple car/policy discount..etc 23 now.

Just to give you an idea, also live in RI.
How the hell have you had SEVEN speeding tickets? Slow down/pay attention...
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Old 11-16-2012, 02:20 PM   #33
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Jesse M:

You need to tell this kid who your insurance company is!!
Allstate!
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Old 11-16-2012, 02:22 PM   #34
Jesse M
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How the hell have you had SEVEN speeding tickets? Slow down/pay attention...
Lead foot / running late to places / and a combination of the need for speed. I do pay attention. All of them were completely unavoidable, ie: cop stake out behind a bridge at night.

edit: well that sounds childish. It would have been completely avoided if I wasn't speeding.
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Old 11-16-2012, 02:29 PM   #35
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Lead foot / running late to places / and a combination of the need for speed. I do pay attention. All of them were completely unavoidable, ie: cop stake out behind a bridge at night.

edit: well that sounds childish. It would have been completely avoided if I wasn't speeding.
I lol'd, then I saw you realized your mistake and showed some rare-for-e46f maturity

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Old 11-16-2012, 02:38 PM   #36
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For the money I wasted buying full insurance coverage for 30 years, I could have bought the car several times over. Not any more.
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Old 11-16-2012, 02:39 PM   #37
webster
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insurance will be higher for the ZHP since it's newer and worth more.

you should not buy a BMW with only liability coverage. what happens if someone hits your car while it's parked and smashes it up pretty good? all of a sudden you have a totaled car worth nothing and no coverage. have fun DIYing that.
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Old 11-16-2012, 02:39 PM   #38
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Peace of mind is worth it to me
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Old 11-16-2012, 02:48 PM   #39
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Peace of mind is worth it to me
I have total peace of mind. If the car gets smashed I'll buy another one. For me it's a probabilities game, and if I happen to lose, I can afford it. If you can't, then you should get insurance.

Remember that insurance companies make money. What they collect in premiums exceeds what they pay out, so over a long enough period you're better off without it. Same goes for extended warranties.
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Old 11-16-2012, 02:51 PM   #40
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Sounds like your financial situation allows you to replace your vehicles worry free

Mine does not. The peace of mind is forth it for me.

All companies make money, the ones that don't are either out of business or non-profits.
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