Matt 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?

dmp

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

czr

iTrader: (3)

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

Cam

iTrader: (1)

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

mysql101

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)

jgibbons

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.

MI_FamilyMan

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".

Ajax

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

draco067

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

Luftwaffle

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.

Nick

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.

mysql101

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.

NomisR

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.

eclps0

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

mysql101

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....

Gambit

2300+ a year I hate nj insurance too

adim_x

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

davesaunders300

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.

Brandon

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.

salituro64

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.

Paul_in_DC

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

Ti Driver

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.

Wurmfist

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.

r8ped8

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 (****'s)
Definitely shop around.............
Gary

davesaunders300

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.