Insurance pricing me out of an M4 at 29 YRs old??
Discussion
£200 a month/£2k a year does not strike me as a ridiculous insurance cost for an M4 for a sub-30 year old.
That's not to say it's not a lot of money, but I came to this thread expecting the OP to be (reasonably) complaining about 5 figure quotes.
Work out if it's worth that to you over an alternative car that might have cheaper insurance but be less fun/desirable for you.
That's not to say it's not a lot of money, but I came to this thread expecting the OP to be (reasonably) complaining about 5 figure quotes.
Work out if it's worth that to you over an alternative car that might have cheaper insurance but be less fun/desirable for you.
mubariz said:
I was hoping for the £1.5k mark but from a reputable provider rather than one I'd never heard of before with nearly £1k of excess. Is that a valid concern?
Our M-lite is insured through them (and has been for the last couple of years) and I’ve no complaints about our interactions with them.Chris
I’m a few years older than the OP, and in my (very casual) research, the M4 is over double the price of an M2 to insure (£1800ish vs £900ish), and has a huuuge excess.
It’s put me off M4s, so may turn to a Mustang (£800 or so to insure) for my “fast convertible with 4 seats” solution.
It’s put me off M4s, so may turn to a Mustang (£800 or so to insure) for my “fast convertible with 4 seats” solution.
I know this isn't your question, but try looking at Porsches. My 718 was only £650ish when I was 24. When I contacted my insurer to change from our BMW i3 over to that they told be I would be refunded £30, madness really.
As others have said, try stuff that is unusual as there's less statistics about them getting crashed etc.
As others have said, try stuff that is unusual as there's less statistics about them getting crashed etc.
20 something and a newish M car is ticking a lot of insurance red flags.
2 grand odd doesn't seem too bad for something where there's not an unreasonable chance it'll be in a ditch within the year.
It wouldn't surprise me if more powerful dedicated sportscars are cheaper. Basically anything that doesn't have the council element attached.
2 grand odd doesn't seem too bad for something where there's not an unreasonable chance it'll be in a ditch within the year.
It wouldn't surprise me if more powerful dedicated sportscars are cheaper. Basically anything that doesn't have the council element attached.
I ran a 17 plate non comp for 2 years at 22y/o. This was 3 years ago.
First year was £1500, second year was £900 - however it's worth noting both premiums were with Admiral. Nobody else was sub 2k at renewal.
I moved up to an F90 M5 afterwards. Initially it was more expensive than the M4 by a few hundred, however I ran a quote on my old M4 out of interest the other day and was surprised to see it would now cost me more to insure than the M5 - cheapest quote was 1800 and I'm now 26.
Sadly I think as the M4s have depreciated, more and more have been written off. You see lots of CAT cars for sale.
A shame really as I'd love another.
Worth noting you can get non-comps right through the production run, I've seen a few 20 plate non-comps for sale. They tend to be cheaper to insure than the comps are.
First year was £1500, second year was £900 - however it's worth noting both premiums were with Admiral. Nobody else was sub 2k at renewal.
I moved up to an F90 M5 afterwards. Initially it was more expensive than the M4 by a few hundred, however I ran a quote on my old M4 out of interest the other day and was surprised to see it would now cost me more to insure than the M5 - cheapest quote was 1800 and I'm now 26.
Sadly I think as the M4s have depreciated, more and more have been written off. You see lots of CAT cars for sale.
A shame really as I'd love another.
Worth noting you can get non-comps right through the production run, I've seen a few 20 plate non-comps for sale. They tend to be cheaper to insure than the comps are.
If it's any help I went from an M140i (£600 a year) to a 69 plate M4 Comp a couple of years ago.
First year was £800, it then jumped up to £1500 and it's looking like the next renewal will be >£2000. 37years old, on the outskirts of London.
It's a difficult pill to swallow but if you can afford it, I would highly recommend the car though and you only live once!
As others have said, it is a desirable car to the wronguns so that combined with the general insurance increases unfortunately results in them becoming more out of reach.
First year was £800, it then jumped up to £1500 and it's looking like the next renewal will be >£2000. 37years old, on the outskirts of London.
It's a difficult pill to swallow but if you can afford it, I would highly recommend the car though and you only live once!
As others have said, it is a desirable car to the wronguns so that combined with the general insurance increases unfortunately results in them becoming more out of reach.
QuickQuack said:
When I was your age and looking for a new car, I realised that insurance premiums were massively different if I had the start date when I was 29 years 364 days old or if was 30 years old, so it might be worth waiting for an extra year. However, M4 is a fast, powerful and expensive car which can cause a lot of expensive damage to other objects and people. It's never going to be cheap to insure.
I wondered the same. Insurance has probably changed since I was in my 20s/30s 
but turning 25 and then 30 both made a notable difference to my premiums.OP do a quote as if you were 30 to see if it makes a difference?
They get nicked and you gave a BD postcode. It may he a nice BD postcode but the thieving scum in the not so nice postcodes know where to go to find the nice cars. And most of them have a nice car to go there in. Usually top end BMWs and Audis with a bit of weld around the chassis number.
Might just be the price of the car. How much is the insurance for the older M4? I know it's not the same but I was messing with insurance quotes - new Gallardo ~£2500, 2005 Gallardo ~£600. Sure, there is a difference from an insurance perspective but to me, I'd be happy driving either!
oliverloxley said:
I know this isn't your question, but try looking at Porsches. My 718 was only £650ish when I was 24. When I contacted my insurer to change from our BMW i3 over to that they told be I would be refunded £30, madness really.
As others have said, try stuff that is unusual as there's less statistics about them getting crashed etc.
Would echo this; At about the same age, a 911, was almost 1/2 the cost of an M4 or a C63. As others have said, try stuff that is unusual as there's less statistics about them getting crashed etc.
Do look at the F Type, there seems to be some real bargains out there, and should be more favourable in terms of risk.
Mr Tidy said:
I think it's probably a reality check on a combination of the car, location and your age given the statistics the insurers have for those features sadly.
I think this is the likeliness. I know and was shocked how much difference post codes can make to quotes but also factor in the car itself. It's not even the outright speed but the risk involved (obviously) and I'm guessing M4s and I'm sure other fast cars pique the interest of the riskier drivers and potentially theft. It's not to say all fast cars will be as high. Was some time back but I bought my CLS63 and was amazed to find despite being double the power, it cost me no more to insure than my previous RS Megane. Yet I suspect if it had been the lairier C63, the insurance quote could have been quite different.
Sometimes it's the left field cars that sneak under the radar and are notably better to insure.
mubariz said:
I was hoping for the £1.5k mark but from a reputable provider rather than one I'd never heard of before with nearly £1k of excess. Is that a valid concern?
I probably will end up still getting an M4 comp pack but I've noticed its 25% cheaper if I get a 2016 non comp instead.. unfortunately I've falled in love with a San Marino Blue spec ??
I’ve never heard of Marshmallow either but a quick Google indicates they are primarily for people with little UK driving experience ?!I probably will end up still getting an M4 comp pack but I've noticed its 25% cheaper if I get a 2016 non comp instead.. unfortunately I've falled in love with a San Marino Blue spec ??
Irrespective , your age , experience of “ higher powered cars “ , location and car itself will all be conspiring against you.
As an annual price of circa £2k and an excess of £1k whilst expensive per se isn’t necessarily out of kilter with the market.
I would give a true broker a call ( Howdens formerly A Plan ) and perhaps start from there.
Good luck.
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