A question for Vancouver 1 er's about insurance

[jimmy]

I have been doing my homework now for some time about the total cost to purchase/operate a 135i. Of course, we have to factor in car insurance, so my question is: Is the replacement cost insurance(model year #1) offered by ICBC worth including on my insurance coverage??

What do you all think??

thanx

[Bringinthewolf]

Yes. Without a doubt. The first year is fairly inexpensive but the cost does go up a bit on year two. The nice thing about ICBC's RC policy is that it can be purchased on a yearly basis instead of for three years like the private insurers.
Speaking of which, I do not recommend that you purchase the private RC policy. It's like buying a paint sealant or extended warranty.
I also would not purchase RC if I was leasing as it would only benefit the leasing company.
We, and I mean "we", recently had a very small claim in our 07 Mini Cooper. Because of the RC many items were replaced other than repaired so the car is back to perfect.

[Kiety]

i haven't asked yet but, how much are the insurance premiums on the 135i cabrio?

[Bringinthewolf]

Cabrio rates were not out last time I checked. I can check again tomorrow but as none have been delivered yet, I doubt they will be up.

[warmtoes]

My guess is going to be $2000 if you have full discount.

[Bringinthewolf]

Cabrio rates are not up yet but they shouldn't be too much more than the Coupe. The 335 Cabrio is about $50 more than the 335 Coupe so the 1'er should be the same spread.

The following are based on a 135 Coupe with 2,000,000 liability, 300 collision/comp, Replacement Cost and Licence fees with a level 20 Road Star discount.

Pleasure only $2154
Pleasure only (no drivers under 10 years experience) $1828
To/From work within 15K's $2341
To/From work within 15K's (no drivers under 10 years exp) $1998
Business Use $2377
Business Use (no drivers under 10 years exp) $2075

I hope you guys have good discounts and no young drivers in the house.

[warmtoes]

Is the level 20 RoadStar the maximum discount?

On your third line down did you mean To/From work beyond 15K's is $2341?

[Bringinthewolf]

Yes level 20 is the best you can get.
No the rate is within 15K. More than 15K is almost the same rate as Business Use.

[warmtoes]

Okay, good. I'm basically business use with no drivers under 10 years experience so my $2k guess looks pretty good.

[jimmy]

Thank you all for the replys. I went and got a quote the other day for insurance and it jives with what has been said previously.

Now I have only received one reply in favor of adding replacement cost insurance to the overall coverage, so is there anyone out there who thinks otherwise (ie. that it is not worth getting for the extra $$$)? The cost difference in my case is roughly $330 for the 1st year. While not being a huge sum of money, if it is not needed, why lay it out??

thanx again.

And one last note, a 128i was $125 less to insure with the same coverages as the 135i.

[warmtoes]

If I was buying (instead of leasing) I would definitely get replacement cost insurance. I did so for the last two vehicles I bought.

[Bringinthewolf]

"And one last note, a 128i was $125 less to insure with the same coverages as the 135i."

The price spread is about the same with the 335i vs 328i.
ICBC seems a bit concerned about those 2 little turbos :headbang:

[jimmy]

Originally Posted by Bringinthewolf

"And one last note, a 128i was $125 less to insure with the same coverages as the 135i."

The price spread is about the same with the 335i vs 328i.
ICBC seems a bit concerned about those 2 little turbos :headbang:

Yeah....quite funny actually. How they came up with that number is anyone's guess. I would have thought it to be more, but I am glad it is not:thumbup:

[jerico68]

Originally Posted by Bringinthewolf

Yes. Without a doubt. The first year is fairly inexpensive but the cost does go up a bit on year two. The nice thing about ICBC's RC policy is that it can be purchased on a yearly basis instead of for three years like the private insurers.
Speaking of which, I do not recommend that you purchase the private RC policy. It's like buying a paint sealant or extended warranty.
I also would not purchase RC if I was leasing as it would only benefit the leasing company.
We, and I mean "we", recently had a very small claim in our 07 Mini Cooper. Because of the RC many items were replaced other than repaired so the car is back to perfect.

It may be true that when you have a 0 down lease that it may not be worthwhile to purchase replacement policy. But it definitely is worthwhile when you have a big downpayment or if you are in the latter years of your lease.

[Bringinthewolf]

Originally Posted by MyBaby1

It may be true that when you have a 0 down lease that it may not be worthwhile to purchase replacement policy. But it definitely is worthwhile when you have a big downpayment or if you are in the latter years of your lease.

I don't know why anyone would want to put a large downpayment on something they don't own but you are right about wanting to cover that loss with RC.
Keep in mind that you can not purchase RC on the 3rd year unless you have purchased it for the first two years.