[Egrunt]

We are considering a new M2 as the wife’s next vehicle. Posted this on the M2 portion of this forum since a topic for insurance was already created. Having owned an 18 M5 since August of 2018 it is interesting to see how much an outgoing 23 M5 (F90) would cost compared to my 18 M5. Currently paying $608 every 6 months, a 23 M5 Comp would cost me $1,778 for the same coverage for 6 months. I thought this could not be correct and inputted a different 23 M5 Comp VIN into the quote system on the USAA web page and came up with the same cost. I was pleasantly surprised last year when the premium for our 18 M5 was reduced from just over $800 every 6 months to $608. It is my belief since the M5 was now 5 years old the premium was reduced by almost $200 every 6 months.

We have been with USAA for over 29 years. We are both in our late 50’s with clean driving records. Location does play a part and we reside in San Diego County (California). Here are some other vehicles I inputted into the USAA insurance quote program. All quotes are for 6-month premiums with the same limits of coverage that I carry on all my vehicles.

Most expensive to insure too least expensive:

24 Porsche Panamera Turbo S: $2,167 ** MSRP over 200k***
24 Alpina B8: $2,007
24 X6M Comp: $1,875
23 M8 GC: $ $1,859
23 M5 Comp: $1,778
24 Porsche 911 GT3: $1,347
24 Porsche 911 S Coupe: $1,215 MSRP 155k
24 Porsche Cayenne Coupe Turbo S: $1,187
23 M3 Comp: $1,134
24 X5M Comp: $1,128
23 Corvette Z06 3LZ: $1,119 MSRP 155k
23 Audi RS3: $969
24 M2: $952
23 Dodge Challenger Hellcat Red Eye: $881
24 X3 M: $850
23 Cadillac CT-5 V Black Wing: $848
24 Porsche Cayman GT4 RS: $824
23 Cayman GTS: $793
23 Cadillac CT-4 Black Wing: $777
23 Boxster GTS: $771
23 Cayman S: $770
24 M340i: $759
24 X3 M40i: $753
23 Corvette Z51 2LT: $729 MSRP 96k
24 Porsche Cayenne S: $716
24 Toyota Supra: $699
24 VW Golf R: $689
23 Porsche Macan GTS: $657
18 M5: $608 My vehicle
24 Honda Civic Type R: $583
24 Acura Integra Type S: $567

Interesting take away for me is how much a 23 M5 cost to insure ($1,778) compared to my 18 M5 ($608), $1,170 difference with the same coverage. The Cadillac CT5-V Black Wing is $848 and to me it comparable to the F90 M5 platform. As a whole it appears with USAA, BMW M products cost more for auto insurance. The two vehicles that stick out to me is the C8 Z06 at $1,119 and Cayman GT4 RS comes in at $824. The performance bargain as it pertains to cost for auto insurance for me is the 23 C8 Corvette Z51 coming in at $729.

This was more of a fun project for me and intended as information only.

[pbonsalb]

24 Porsche Cayenne S looks like a good buy for insurance. Now has the twin turbo 4.0L V8 instead of the twin turbo 2.9L V6 in my 21 Cayenne S. For sedans, I would not compare the CT5-V to the M5; maybe a Blackwing. I have USAA also, but not in a big city.

[Greer]

Thanks for posting, very informative.

[Alberta]

This reminds me how expensive are insurances in Europe compared to US...

$608 for a 2018 M5 is a hell of a bargain!

I'm paying 3.5k/year for mine.

[crypto]

I have USAA too and they have been increasing the insurance on my M5 CS since I got it. Their system is using new numbers all the time. When I first got it — the premium was as cheaper than my M550i. $716 every six months. Then it went to like $1400. Now you made go look.. it’s over $2000 every six months now. WTAF. I haven’t had any accidents or tickets. This is just the market/algortihms fking me. Jesus I need to maybe go shop around.

[smbsocal]

Originally Posted by Egrunt

We are considering a new M2 as the wife’s next vehicle. Posted this on the M2 portion of this forum since a topic for insurance was already created. Having owned an 18 M5 since August of 2018 it is interesting to see how much an outgoing 23 M5 (F90) would cost compared to my 18 M5. Currently paying $608 every 6 months, a 23 M5 Comp would cost me $1,778 for the same coverage for 6 months. I thought this could not be correct and inputted a different 23 M5 Comp VIN into the quote system on the USAA web page and came up with the same cost. I was pleasantly surprised last year when the premium for our 18 M5 was reduced from just over $800 every 6 months to $608. It is my belief since the M5 was now 5 years old the premium was reduced by almost $200 every 6 months.

We have been with USAA for over 29 years. We are both in our late 50’s with clean driving records. Location does play a part and we reside in San Diego County (California). Here are some other vehicles I inputted into the USAA insurance quote program. All quotes are for 6-month premiums with the same limits of coverage that I carry on all my vehicles.

Most expensive to insure too least expensive:

24 Porsche Panamera Turbo S: $2,167 ** MSRP over 200k***
24 Alpina B8: $2,007
24 X6M Comp: $1,875
23 M8 GC: $ $1,859
23 M5 Comp: $1,778
24 Porsche 911 GT3: $1,347
24 Porsche 911 S Coupe: $1,215 MSRP 155k
24 Porsche Cayenne Coupe Turbo S: $1,187
23 M3 Comp: $1,134
24 X5M Comp: $1,128
23 Corvette Z06 3LZ: $1,119 MSRP 155k
23 Audi RS3: $969
24 M2: $952
23 Dodge Challenger Hellcat Red Eye: $881
24 X3 M: $850
23 Cadillac CT-5 V Black Wing: $848
24 Porsche Cayman GT4 RS: $824
23 Cayman GTS: $793
23 Cadillac CT-4 Black Wing: $777
23 Boxster GTS: $771
23 Cayman S: $770
24 M340i: $759
24 X3 M40i: $753
23 Corvette Z51 2LT: $729 MSRP 96k
24 Porsche Cayenne S: $716
24 Toyota Supra: $699
24 VW Golf R: $689
23 Porsche Macan GTS: $657
18 M5: $608 My vehicle
24 Honda Civic Type R: $583
24 Acura Integra Type S: $567

Interesting take away for me is how much a 23 M5 cost to insure ($1,778) compared to my 18 M5 ($608), $1,170 difference with the same coverage. The Cadillac CT5-V Black Wing is $848 and to me it comparable to the F90 M5 platform. As a whole it appears with USAA, BMW M products cost more for auto insurance. The two vehicles that stick out to me is the C8 Z06 at $1,119 and Cayman GT4 RS comes in at $824. The performance bargain as it pertains to cost for auto insurance for me is the 23 C8 Corvette Z51 coming in at $729.

This was more of a fun project for me and intended as information only.

That sounds about right. My M5 is slightly over 1k and C8 is half of that.

Unfortunately the M5 costs so much to repair. Just look at the 'bad day in houston' thread and some road debris caused damage to the oil cooler which blew the engine. The insurance company is luckily paying for a new engine but the engine itself, without labor, is $55k.

[TheRealBob]

My 2018 M5 with USAA was 850 last year and 1387 this last 6 months. I only drive 7500 miles a year with liability at 1,000,000. We also have a '23 i4 which was 1250 this last 6 months. You would think a car would get cheaper as it ages.

[Rafichicago]

My wife and I are in our early 40s with clean driving records. Ridiculous quotes are the reason we have never been with any insurance provider for more than 3 years. I shop few insurance companies every time ridiculous quote from my current arrives. I currently pay $1400 for 4 cars for 6 months I just got quote from Allstate (we have great new quotes for our previous customers ) The quote was for over $2200 for 6 months. So my advice is always shop around. Seems like certain vehicles are considered higher risk from one insurance provider to another.

[Egrunt]

Update: Compared 2018 to 2023 M5 insurance premiums through USAA for 6 months of coverage, 10k a year mileage and full coverage:

18 M5 currently owned since 8/2018: $608
18 M5 if added with my current 18 M5: $745
19 M5 Comp: $1,154
20 M5 Comp: $1,230
21 M5 Comp: $1,253
22 M5 Comp: $1,308
22 M5 CS: $1,784
23 M5 Comp: $1,778

Model year 2018 seems like the sweet spot, it will be interesting to see in January of 2024 if the 2019 model decreases in price once it hits the 5 year mark.

[Egrunt]

Originally Posted by TheRealBob

My 2018 M5 with USAA was 850 last year and 1387 this last 6 months. I only drive 7500 miles a year with liability at 1,000,000. We also have a '23 i4 which was 1250 this last 6 months. You would think a car would get cheaper as it ages.

Just did an update comparing 18 - 23 M5 insurance premiums. If I were to add a additional 18 M5 to my policy it would cost $745 every 6 months and driving 10k a year, even though I pay $608 for our current 18 M5. I know location plays a part in the equation.

[TheRealBob]

Originally Posted by Egrunt

Just did an update comparing 18 - 23 M5 insurance premiums. If I were to add a additional 18 M5 to my policy it would cost $745 every 6 months and driving 10k a year, even though I pay $608 for our current 18 M5. I know location plays a part in the equation.

It might be that at 78 I'm considered a higher risk, but strange that just last year I was at only $850. I might give them a call next week to see what triggered the increase.

[M5KEITH]

Originally Posted by Alberta

This reminds me how expensive are insurances in Europe compared to US...

$608 for a 2018 M5 is a hell of a bargain!

I'm paying 3.5k/year for mine.

I pay $850 per year full coverage on my 2018 $100-300K personal injury, 1,000 deductible and only 1 ticket iin Massachusetts.

[Egrunt]

Originally Posted by pbonsalb

24 Porsche Cayenne S looks like a good buy for insurance. Now has the twin turbo 4.0L V8 instead of the twin turbo 2.9L V6 in my 21 Cayenne S. For sedans, I would not compare the CT5-V to the M5; maybe a Blackwing. I have USAA also, but not in a big city.

Found our way into the Porsche dealership today and test drove a new Macan GTS. I am not a performance SUV person but this will be a vehicle for my wife. At 109k MSRP it was nice but I told her I would like to look at the BMW X3 M Comp if we are going in that direction for her vehicle. The dealership had several 24 Cayenne S's in stock but the wife of over 37 years of marriage did not care for the size of the vehicle. I liked the Cayenne S but as they say, happy wife, happy life.

[Rafichicago]

Originally Posted by Egrunt

Update: Compared 2018 to 2023 M5 insurance premiums through USAA for 6 months of coverage, 10k a year mileage and full coverage:

18 M5 currently owned since 8/2018: $608
18 M5 if added with my current 18 M5: $745
19 M5 Comp: $1,154
20 M5 Comp: $1,230
21 M5 Comp: $1,253
22 M5 Comp: $1,308
22 M5 CS: $1,784
23 M5 Comp: $1,778

Model year 2018 seems like the sweet spot, it will be interesting to see in January of 2024 if the 2019 model decreases in price once it hits the 5 year mark.

I noticed that every m5 you got quoted was a Comp. I wonder what would it be if it was regular M5.

[mtndog]

USAA rates have gone up while their dividends have gone down...

[pbonsalb]

Originally Posted by Egrunt

Found our way into the Porsche dealership today and test drove a new Macan GTS. I am not a performance SUV person but this will be a vehicle for my wife. At 109k MSRP it was nice but I told her I would like to look at the BMW X3 M Comp if we are going in that direction for her vehicle. The dealership had several 24 Cayenne S's in stock but the wife of over 37 years of marriage did not care for the size of the vehicle. I liked the Cayenne S but as they say, happy wife, happy life.

The X3M and X5M are known to ride rough. Test drive on some bumpy roads. My wife would not have been happy. We test drive an X5 40i drive MSport twice but each time we thought it drove like a truck compared to the Cayenne, though we liked the price at about 20% less. The Macan is supposed to drive even more car-like than the Cayenne, but it was too small for our needs.

[pbonsalb]

Originally Posted by mtndog

USAA rates have gone up while their dividends have gone down...

Maybe they have suffered losses due to hurricanes, tornados and floods.

[smoox]

$250/mo in Texas with Geico

[jphcbpa]

Originally Posted by crypto

I have USAA too and they have been increasing the insurance on my M5 CS since I got it. Their system is using new numbers all the time. When I first got it — the premium was as cheaper than my M550i. $716 every six months. Then it went to like $1400. Now you made go look.. it’s over $2000 every six months now. WTAF. I haven’t had any accidents or tickets. This is just the market/algortihms fking me. Jesus I need to maybe go shop around.

USAA member too and our home owners keeps jumping as well. I just recently did some comparison shopping and the results were not any better sadly.

[916_M5]

CA is going through a really tough time for auto insurance. MANY insurance companies have left CA due to legislation. It is a weird (expensive and difficult) time for auto insurance in CA.

I too in CA, drive a 2018 M5 and pay $700 for 6 months, full coverage, OEM parts, and VERY high bodily injury limits.

[pbonsalb]

Originally Posted by 916_M5

I too in CA, drive a 2018 M5 and pay $700 for 6 months, full coverage, OEM parts, and VERY high bodily injury limits.

Why not lower bodily injury limits to the minimum required to also buy an umbrella policy that would effectively provide much greater coverage?

[adeuel]

Not sure if it has been brought up yet, but premium on a specific vehicle is also dependent on how many other vehicles and drivers you have on the policy.
The ins companies realize you can only drive one car at a time, so the more cars on the policy, the lower any subsequent premiums will be.
I priced out adding a new 911 and it was only $430 for 6m. Lol