Insurance Rates on RX8
 

Insurance rates on the RX8 are kind of high.

My insurance company quoted me $425 for six months.
I'm also shopping for a BMW 330i with performance package (235hp car) and the rate is only $325 and the car costs 15K more.

Why are the rates on the RX8 so high?

It's your age + your insurance company....I pay about $65/month for my 8 - not bad, imo.

$200 over 12 months is not that big of a difference. Those are really low quotes.

Youre not going to get much sympathy around here bitchin about a $71 a month premium. Do a search and you'll understand why.

That does seem odd.

My RX-8 costs LESS to insure than a ford mustang convertable and a saturn SL1 (4 door) (worth maybe $2000)

Rx-8
 

Rates are low on this car b/c the Insurance Industry classifies it as a four door sedan, not a coupe.

My father is an Executive with State Farm and he informed that b/c of that fact, and the relatively inexpensiveness of fixing a Mazda -- the rates are lower than most other sport coupes.

Shop around. My 8 costs less in insurance than the VW Jetta VR6 I had. I think my company classifies the 8 as a "sedan".

I'm at 165 a month until april, when I turn 25.. so you could be much worse off.

425/6 months? I'd kill for that. I pay 1700/year.

There was another thread about this somewhere, I can't find it. Anyway, I hate you all with the fire of a thousand suns. $2800/year.

The wide range of quotes in just the few replies so far show that it's infintely more complex than we would ever think... They not only take into account your history and the generalizations they can make from your age, status (married or not), etc., but they take the same factors from the car - how many accidents in this vehicle? or rather, how much has the company payed out for this car? how much has it payed out for accidents in cars LIKE this car? Who buys this car? What are their histories like? That's one reason for the big difference between a Ford Mustang and the RX-8 - a Mustang is more likely to be driven and wrecked by some high-testosterone, low-maturity teenager, than an RX-8, which is usually purchased by a more mature group.

I think the fact that the rx8 is a new car means it's not yet a junker, helps the rates. In a few years when you can buy a used rx-8 for under $10,000, you may find the rates going up.

My rates are approximately the same as your's and I don't consider it expensive at all, on the contrary, I've quoted it against other cars I've considered, G35C, TL, TSX, etc and they noticibly higher.

LOL u call that high I pay 6500 a year on my rx8 i am 20 soon to be 21 have no accidents nor points. But i do have full coverage, and a safty net of 1 million dollars if anything were to happen and if i were to get sued.


p.s its nj Insurance

rates also vary widely depending on what kind of coverage you have. I could cover my rx8 for about $15 a month if I wanted....

2300+ a year I hate nj insurance too

Insurance companies not only take your driving record, and the vehicle safety into account. Some also take your credit rating into account. I read this on some MSN auto tip page. They have proven that people with a worse credit rating tend to have more insurance claims then people with excellant credit. Not to say that if you have bad credit you are a bad driver, but through the modern wonder of statistics, you are statistically proven to cost insurance companies more money. I think the rates you got quoted rock. They are far better than mine, and I consider mine pretty low. I would not worry about 10 bucks here 20 there. I would just make sure you shift before the rev limiter :D

$425 for 6 months is high?
 

I'm surprised you consider this high. I pay about $400/6 months and I'm 55 with discounts for multiple vehicles, accident free, and defensive driving training. This is only about $10 more than I pay for a 98 Honda Prelude. I was pleasantly surprised that the rates on the RX8 weren't much higher than the 6 year old Prelude. I live in a large, metropolitan area so this may be why my rates are higher than what some of the others mentioned.

Exactly the same deal here. I'm 28 and live in Minneapolis with a clean driving record. '97 Prelude was ~$820/6 months and the RX-8 is ~$860/6 months.

RX8 is rated very weel w/insurances and is also listed as a 4 door sedan. My 2004 RX8 costs me less to insure than my 2001 Altima.

I'm gonna be really unpopular here...

Over 40
Divorced
1 child (non-driving)
2 vehicles
Clean record (mostly)
Same insurance company for 20+ years

- Less than 600/year for the 8

I think most of you are missing Machan's point. Forget about the actual cost to insure (although interesting in it's own right, really a factor of: type of coverage, where you live, age, gender, driving record, how far you commute...) but focus on the point that the cost to insure a new BMW that costs almost 50% more is almost 25% less to insure, presumably with the same coverage for the same person.

This is actualy contrary to my actual experience (had a 12 year old 318i, which I replaced with the RX-8, that was only a couple dollars less to insure than my RX-8). I have also seen from the forum that most comparable cars are significantly more to insure than the RX-8. Though no expert, I thought that the BMW was always a little bit of a premium to insure on a per $ purchased basis due to parts expense and some other requirements like flat-bedding. Volkswagens and Honda Accords are also expensive to insure but for different reasons.

So my conclusion is that you getting juiced on your RX-8 quote or perhaps someone has under quoted you on the BMW.

Yeah 56 dollars a month here, better than my Jeep Cherokee was at 80 dollars a month.


Be sure when you are compairing insurance rates you think about deductables though. That can make a large difference.

69.00 per month State Farm-- 500,000 300,000, 100,000 (100.00 deductible)
Includes:

multi line discount(homeowners)
multi car discount
15 year accident free discount
0 deduct for windshield
free towing and roadside assist
uninsured/underinsured
200/week lost wages
No one under 25 years old

4 doors was way good--this is one dollar a month cheaper than the 5 year old 2 door Mitsubishi I traded out of for my rx8
I currntly have 3 speeding tickets attained prior to rx8 purchase (nazi's)
Definitely shop around.............
Gary

Rates in DC!!!
 

That's amazing for DC. I moved from Georgia to DC a number of years ago and I was shocked by how much higher the insurance rates were in DC.

Age: 23
1 Traffic Violation
1 Insurance Claim ( my Motorcycle)
Metro Atlanta Area
$1600 / Six months...
how's that for an Ass raping!
Geico..best rate I could find...and trust me..I searched a lot

I pay about $185 a month and I am under my dads policy and he has a perfect record. and I am listed as the second driver, and I am listed as driving under 10,000 miles a year.
but its still pretty high because I am a 17 year old male, with a bright red rx-8 sports car. :(
but the car is so worth it. :D

Well, truth be told I'm just outside of DC (Fairfax County) and there's much less crime in this area. I wouldn't want to think of what it would be if I lived downtown! :eek:

Note to everyone - check if your insurance company gives better rates if the car has a theft system. It might help.

That what I was getting at, why is the RX8 more than the bimmer.

Same insurance agent, same drivers.

Married couple (me 34 wife 36)
Clean records
Multiple Car + they do our homeowners
Nice neighborhood in a safe suburb of Chicago

I think the difference might be down to safety equipment but it is probably due to driver profiles for the two vehicle.


Thanks for all the flames and hate from everyone else :p . If makes you feel any better back when I was about 25 I used to pay $300/month for a $17,000 Ford Probe GT (*powered by a Mazda engine).

Hello fellow former Probe-owner!

(yes I realize what it sounds like when you say it out loud).

Hi.

That was the first new car that I owned and still one of my favorites. Mine was a 1994 Ford Probe GT, 5-speed. The color was rio red. It was a great little car for me.

Now, everytime I autocross, I use #94 for my car in honor of the old Probe that I had.

I have my insurance through allstate and I pay $100/month for the 8plus an f-150. I am 23,
married, have excellent excellent credit, and a clean record. I also get a deal because I have my homeowners insurance through them as well. The most I ever paid for insurance on the 8 was $175/month.

Price all the companies and see what you can get. If you look long enough you will find a great deal. It just takes a little time and attention to details.

I'm in NJ and 49 years old. Clean record. I was paying 1,500 per year until I sold my (trade in ) car. Now my 22 year old daughter was put onto my car's policy. So now I pay 2,200 per year. The Insurance companies really suck here. They have a liscense to steal. The real kicker is that my daughter is a student in Manhattan and doesn't even drive a car. I can't take her off my policy until she graduates. So now those of you not living in NJ will get no sympathy from me. I'd still rather drive an 8 than get some piece of junk and pay less on the insurance.

^^aboslutely!! I hate seeing people complain about paying over 1000 less than I have to pay. Come to NJ for a while, you'll see how good you have it.

Were you ever a member of probetalk.com? Darin (username: dmp), who is a member of this board (owns a silver RX-8) owned a 93 GT (with a custom turbo) and he and I got to know each other through that board... now we both own RX-8s :)

As for me, I still have my 91 Probe GL, sitting outside getting snow piled on it. It was my second car, and the reason for my interest in cars as a hobby today.

Sorry, but you have to be a sadist to live in NJ, it just comes with the territory :)

Nope I wasn't a member of that board, actually I wasn't even aware it existed.

I also used to live in Northern VA (Alexandria) and my insurance went up quite a bit by moving to rural Minnesota. It then went up further when I went into Minneapolis. I figured there must be more weather related fender benders in MN than elsewhere. But maybe VA is unusually cheap for some reason.

Wow, I know someone is paying more than me... My RX8 insurance is $285 a month! Anyone? If not, who do you have insurance through?

Well I'm with Geico and it comes out $584 per 6 months for me just for the 8. That's with 25k/50k all across adn 250 deduct on comp/coll/mbi and with my beater car on same policy. Sounds reasonable for a 28yr old male. I know I deserve cheaper though, I have a clean record.

Beater car is 105 per 6 months, totals 689.

I pay $1584 every 6 months from progressive. My driving record blows 3 speeding tickets and 2 fail to obey hwy signs. I have never had an accident with this insurance carrier. It is going to get better I hope I am only 24 years old.

My Gawd, I'm right there with you people. I'm paying $284 a month! I think part of it us due to 2 previous speeding tickets (both ticks are almost 3 yrs old!) and living in California. By the way, Progressive absolutely sucks.

I'm currently looking for a new insurance carrier. Any suggestions?

I used to have Progressive (this before I owned my RX8) and switched to All State. So far, I'm very happy with them. I pay a little bit less than $80 per month (full coverage). Really, there are many factors that are going to affect your premium (age, tickets, marital status,etc.). I'm not sure how much premiums vary from state to state (I live in west Texas), but there are many things that will affect what you pay.

Anyway, in my opinion, Progressive is way too expensive....research with All State

heh
 

585/Yr for me

30
Married
1 Kid (7 months old)
2 Vehicles
Totally Clean Record
Same insurance for 14 years and counting for cars and house

you whiny whinertons...when I first got my 8 I was paying ~$400 CDN a month :( (for the first 6 months)

now it's down to about $180 after an insurance reform and a switch to a better broker

whoa, too much for insurance. my insurance is: $378 every 6 months ($63 per month)

yamajj
ps it's good to be 38