[Q3User]

I've seen this happen with other cars+people but never had it happen to me.
When we added the Q3 to replace our 4 year old Merc GLK, it reduced our yearly premium by ~ $400!

Not sure how insurance works when a $40+ car is insured for less than a 4 year old car with a possible resale value of $25K.

Needless to say, it was quite a pleasant surprise.

I am more of an Audi fan now!:laugh:

 

[cableguy]

I replaced an 11 year old Mini Cooper S that had a trade in value of about $6k with a vehicle worth $40k+. My insurance went up $80 per 6 month policy period.

 

[Q3User]

I replaced an 11 year old Mini Cooper S that had a trade in value of about $6k with a vehicle worth $40k+. My insurance went up $80 per 6 month policy period.

That's not bad. $160 over a 12 months period.

I am not sure how mine went down.
We both had a couple of "non-positive" traffic incidents in 2014.

Insurance is crazy.

 

[AudiFox]

Insurance rate depends on a few other factors besides which car you bought so that may be why yours went down and his went up. The color of your Q3 (sporty colors like red usually raises insurance rate), age, neighborhood you live in etc.
But that aside, $400 in reduction is amazing!

 

[rnlabas]

I've seen this happen with other cars+people but never had it happen to me.
When we added the Q3 to replace our 4 year old Merc GLK, it reduced our yearly premium by ~ $400!

Not sure how insurance works when a $40+ car is insured for less than a 4 year old car with a possible resale value of $25K.

Needless to say, it was quite a pleasant surprise.

I am more of an Audi fan now!:laugh:

It's really more a cost of repairing a car than its value. Total losses (overall value) are only about 15-20% of claims. The Merc simply costs much more to fix anything that is likely to need than a new Q3...even though the new Q is worth more. For example a new fender for the GLK prolly costs twice what a Q3 fender does, and similarly for bumper parts, lights etc.

 

[Q3User]

It's really more a cost of repairing a car than its value. Total losses (overall value) are only about 15-20% of claims. The Merc simply costs much more to fix anything that is likely to need than a new Q3...even though the new Q is worth more. For example a new fender for the GLK prolly costs twice what a Q3 fender does, and similarly for bumper parts, lights etc.

I considered that intuitively but I then just assume all German fenders costs the same.

 

[JR86]

I just got my Q3 last night and the same thing happened to me!
My insurance went down by over $500.00 (I was driving a Mitsubishi Lancer Raliart before which they considered a sports performance car).

Not sure exactly how they came to that but to say I was happy would be a understatement lol

 

[AudiFox]

Congratulations on the purchase and the insurance reduction! And welcome to the forum!
Has anyone tried haggling with their insurance company to get it down a bit more?

 

[rnlabas]

...
Has anyone tried haggling with their insurance company to get it down a bit more?

Hah ! That's a good one - do you then expect to haggle what they cover when you need them - you prolly will anyway. But insurance is NOT like buying a car or a shirt - it's actuary-based statistics and risk management. Premiums are essentially mitigation-based contingencies. I cannot imagine anyone successfully haggling them - you CAN reduce or manage your coverage more efficiently - but do it with your eyes WIDE OPEN, and with reason - or you will be very unpleasantly surprised when you least need or expect it.

That being said, underwriters are CONSTANTLY reviewing their risk management plans against claims ALL over the country and becoming much more competitive - but then they are also insisting on cheaper, 3rd party or used parts for repairs, monitoring/challenging your everyday driving behavior, etc. to achieve them. Little by little they are making progress towards lower more competitive costs - and many folks are very happy with that, even in the wake of losing some personal liberties - caveat emptor !

 

[cableguy]

I haven't asked why mine went up $80 a 6 month term but as noted it's probably because a covered repair would cost more and certainly the replacement value is much higher. On the other hand I would think that the Q3 ranks as safer than the Mini S..... I certainly don't plan to do any haggling though

 

[AudiFox]

One can only hope but I guess it won't do me much good to haggle. Still won't give up on red cars even if it could potentially raise my insurance!

 

[DampDuffer]

Still won't give up on red cars even if it could potentially raise my insurance!

You're the third person this week that I've heard mention "red" and increased insurance and increased police scrutiny....

I'm considering buying a red car next spring (it wouldn't be my first), but I see no correlation between color and cost.

Is it because people in red cars have wild personalities and drive more recklessly?

 

[nickjs1984]

Mine also went down - by about $30/mo over the Volvo S60. The obvious response is "Really, it's safer than a Volvo?!" but I'm sure it's much more to do with the availability of interchangeable VW/Audi parts and the expense of getting Volvo parts in since they are less prevalent.