Insurance keeps rating VIN of M5 as two door M3 - The Unofficial BMW M5 Messageboard (m5board.com)

swb3 · 27th January 2006, 17:49

I have now received my fourth insurance statement classifying my car as a 2006 two door M3.

Each time I have gone back to my insurance agent and he has attempted to straighten the insurance company out.

Its my understanding that the insurance company pulls the information off a system which is populated with vehicle information from the manufacturer regarding the VIN.

He basically told me the VIN is correct in my policy, his file is full of the proper documentation, all forwarded to the insurance company so enjoy the M3 rate.

Has anyone else experienced this problem?

frylord · 27th January 2006, 17:59

Uum you should have this sorted out. I don't know how this works in the states but does your VIN relate to your licenceplate? If so then when cop tries to check your registration and gets 2 door M3 instead of M5 then that could cause you a whole lot of headache.

rjp71 · 27th January 2006, 18:15

I had the same problem but got it straightened out.

jfenley · 27th January 2006, 18:22

same problem - car was showingup on policy as M3 - rate is good. They eventually got it straightened out and policy mow reads 2006 M5.

swb3 · 27th January 2006, 18:34

Thanks for the feedback. I like the rate, and as long as I never have any problems it would be fine, but if I could predict that I would be in a different line of work.

I dread a situation where I find myself trying to collect on my policy and they want to pay for M3 parts and repairs. (That would be an interesting looking car)

I guess I will keep trying to force them to charge me for the car I have.

PPG4 · 27th January 2006, 18:40

AAA insurance got mine pegged as a 2006 M5 right off of the bat. When it replaced my E46 M3 on my insurance policy, my premium jumped about $1k per year.

MEnthusiast · 27th January 2006, 20:28

Who is the insurer? Mine is Chubb and I believe it is correct.

MRichmond · 27th January 2006, 20:39

Quote:

Originally Posted by PPG4

AAA insurance got mine pegged as a 2006 M5 right off of the bat. When it replaced my E46 M3 on my insurance policy, my premium jumped about $1k per year.

If you have not already done so, it may be worth your time to shop around. My E60 M5 replaced an E36 M3, and my insurance rate increased by no more than $100 or $200 per year. In fact, the coverage on the M5 is slightly less expensive than the 2004 E320 wagon that my wife drives. When I checked rates there were vast differences.

swb3 · 27th January 2006, 22:16

My insurance company is Allied. I have my home and three other cars on it. I don't have the policy with me, but it was just over $900 for six months, however apparently under the M3 designation. I guess I had expected the M5 to be between $1,400 and $1,700 for six months.

M3Racer · 27th January 2006, 23:11

Quote:

Originally Posted by MRichmond

If you have not already done so, it may be worth your time to shop around. My E60 M5 replaced an E36 M3, and my insurance rate increased by no more than $100 or $200 per year. In fact, the coverage on the M5 is slightly less expensive than the 2004 E320 wagon that my wife drives. When I checked rates there were vast differences.

Funny you should mention the e36 M3. I have a '99 M3 with 114k miles on it and I pay roughly the same insurance premiums as the '06 M5...about $1600 each.