Insurance rate in Canada
- Thread starter Herr Blitz
- Start date
I do not have my BMW yet but I have inquired about the insurance cost.
For your reference, I had 5 years of clean record.
For 330i, I was quoted about C$200 / month or about C$2,500 per year. However, I live in a small city in Ontario of about 40k people. If you are in a busy city, expect to pay up to 60% more (ie. Toronto).
Most insurance companies can give you a quote over the phone so go find out!
For your reference, I had 5 years of clean record.
For 330i, I was quoted about C$200 / month or about C$2,500 per year. However, I live in a small city in Ontario of about 40k people. If you are in a busy city, expect to pay up to 60% more (ie. Toronto).
Most insurance companies can give you a quote over the phone so go find out!
Ouch MRX - $2,500.00 per year. In Alberta I will be paying aprox $1,100.00 per year for a new 330i. My driving record is spotless and perhaps there is some difference with the coup vs. my sedan. I have heard that insurance rates have gone up substantially in Canada, mine however have remained the same.
Blitz,
I have a 2000 323i and I pay about $2200 a year, for pleasure driving, with a 25% discount. Add a couple of hundred more for business use.
If you don't know what your discount is, call ICBC and they will tell you. Then call an autoplan broker, tell them your discount and what type of car you plan to buy. They will also will want to know where in the city you live, if the car has an immobilizer/theft deterant (which it does). If you can avoid it, don't pay monthly, they charge around 8% interest, which they don't tell you unless you ask. Cheaper to use a line of credit or even a loan.
Good luck, and enjoy!
I have a 2000 323i and I pay about $2200 a year, for pleasure driving, with a 25% discount. Add a couple of hundred more for business use.
If you don't know what your discount is, call ICBC and they will tell you. Then call an autoplan broker, tell them your discount and what type of car you plan to buy. They will also will want to know where in the city you live, if the car has an immobilizer/theft deterant (which it does). If you can avoid it, don't pay monthly, they charge around 8% interest, which they don't tell you unless you ask. Cheaper to use a line of credit or even a loan.
Good luck, and enjoy!
My buddy lives in Toronto and was quoted $3800-4000 Cdn. for his 2004 330Ci M-Sport!!! He's 23, never had speeding tickets, never been in an accident and has 2 or 3 parking tickets in the last 5 years.
He just put the car under his dad's name and pays $1800 Cdn. instead.
Insurance is outrageous in Toronto. I know people paying $4K for their ricers.
He just put the car under his dad's name and pays $1800 Cdn. instead.
Insurance is outrageous in Toronto. I know people paying $4K for their ricers.
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I have a friend that lives in Toronto and he has a 2001 325Ci. He is 25, has been licensed for 4 years, no speeding tickets, no claims, nada. He takes the subway to work, so he only drives about 10,000 km/year. He pays CAD$4600/year with a $1000 deductible.
Now take me: I'm 24 and had a 2000 323Ci in Atlanta. I paid US$1536 (~CAD$2100) with a $500 deductible, and drove 20,000 miles/year on average. Insurance in Canada is insane.
Now take me: I'm 24 and had a 2000 323Ci in Atlanta. I paid US$1536 (~CAD$2100) with a $500 deductible, and drove 20,000 miles/year on average. Insurance in Canada is insane.
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I have a 1997 528i (for sale BTW !) and just rec'd my insurance renewal yesterday. My monthly cost went from $142/month , to $138/month ... can you believe it ??? ... a REDUCTION !!!! What's a couple of dollars ... it's the concept that counts.
I'm in the process of purchasing a 2003 330i c/w M sports package , and I have been quoted $172/month for coverage. I am in NS , but the ins. co.s haven't realized yet that we have lots of winding roads , not all that much traffic conjestion on seconary roads , which all adds up to some pretty good driving conditions (i.e. 'spirited' driving).
Hope this helps ....
I'm in the process of purchasing a 2003 330i c/w M sports package , and I have been quoted $172/month for coverage. I am in NS , but the ins. co.s haven't realized yet that we have lots of winding roads , not all that much traffic conjestion on seconary roads , which all adds up to some pretty good driving conditions (i.e. 'spirited' driving).
Hope this helps ....