Insurance Rates on RX8
#1
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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?
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?
#3
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Originally Posted by Machan
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?
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?
#6
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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.
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.
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Originally Posted by Machan
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?
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?
#11
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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.
#12
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.
#13
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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.
#14
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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
p.s its nj Insurance
#17
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
#18
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$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.
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Originally Posted by 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.
#21
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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
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
#22
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.
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.
Originally Posted by Machan
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?
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?
#23
Originally Posted by dmp
It's your age + your insurance company....I pay about $65/month for my 8 - not bad, imo.
Be sure when you are compairing insurance rates you think about deductables though. That can make a large difference.
#24
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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
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
#25
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Rates in DC!!!
Originally Posted by 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
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