F10 M5 - insurer insists on cat 5 tracker

[Harris_I]

Need some urgent help guys. Collecting my car on Saturday and having insurance issues. Insurance broker initially confirmed any Thatcham approved tracker should be installed, but subsequently changed that to Thatcham 5. As you may know the jump from 6 to 5 is masssive (5 costs around £800 as opposed to £200).

BMW Financial Services' own insurer can offer me a very reasonable insurance premium providing (again) I install a cat 5 tracker. I find this ironic given that the difference between 6 and 5 is the addition of a driver recognition fob - ie BMW don't believe their own keys are secure enough and therefore insist on cat 5!

Can anyone recommend an insurance firm who can offer me a decent quote without resorting to this ludicrous requirement? I'm willing to fit category 6 or 7. A contact name and number would be most helpful. (BTW, I'm with Chaucer at the moment through Sky Insurance).

[Harris_I]

Even more curiously, I've just discovered the dealership (Vines in Guildford) only fit a cat 6 and a cat 7 device! So the dealer fit tracker does not meet the requirements of their own insurance co....

[Andy M]

Privilege never requested this of me? May be worth getting a quote?

[Harris_I]

Much obliged Andy. They prove to be the cheapest and don't require a tracker. I'll have to transfer the no claims from one of my cars on the family fleet policy so here's hoping that goes smoothly.

Grrr, insurance really winds me up.

[HoHoHo]

Mine is insured through Tesco's at £350 ish per year and they didn't insist on a tracker but I had one fitted for my own peace of mind.

[Harris_I]

£350!! That's some risk profile you must have!

[HoHoHo]

Harris_I said:

£350!! That's some risk profile you must have!

I'm assuming you mean + rather than -!

[Harris_I]

Exactly. I thought my risk profile was good!

[HoHoHo]

Harris_I said:

Exactly. I thought my risk profile was good!

I was surprised when the M5 was cheaper to insure than my old 911 or 335i

[mondie]

Just go Tescos. No need for a tracker and it cost less than 300 quid.

[W8PMC]

Tesco's here too & no request for a Tracker. Is the least i've paid for insurance in many years

[Harris_I]

I've just come out at £595 but that was with 4 years NCB (6 is with another car). No tracker reqd.

Ordinarily I would be whooping with joy but it's funny how hearing you guys mention numbers around the 300 mark leaves me going "meh"!

[pjv997]

Based on others comments I tried comparethemarket last week.

Got quotes from £303 to £13,000 with at least 10 quotes below £400 but eventually paid about £425 and stayed with my current insurer as I wasn't entirely happy with terms. Tracker wasn't an issue though

Edited by pjv997 on Thursday 6th March 22:39

[Andy M]

Just to add, when I requested a quote from Tesco they were not only more expensive than Privilege, their quoted price did not include protected no claims.

[2010spy]

Just went with Tesco today (£388). However, they said that this includes GAP for Year 1 - so can I cancel my ALA Gap Insurance?

[HoHoHo]

2010spy said:

Just went with Tesco today (£388). However, they said that this includes GAP for Year 1 - so can I cancel my ALA Gap Insurance?

No, you need to keep your ALA gap so that once the tesco one runs out your covered.

From memory you only have 180 days to obtain gap cover on a new vehicle so if you cancel you won't be able to reinstate.

[Tonyc32]

2010spy said:

Just went with Tesco today (£388). However, they said that this includes GAP for Year 1 - so can I cancel my ALA Gap Insurance?

I thought that ALA insist that you have bought the car within 90 days to give out GAP insurance....so while you may be OK for the first year you may not be able to buy GAP insurance next year if your insurance policy doesn't offer it....

[2010spy]

OK - thanks for the advice. Will ask them what the score is, but as you say, I suspect you can't do after 90 days - that's the first question they ask. Edit: Just checked and they won't do GAP Insurance after 180 days. Got mine for £212.00 for two years.

Edited by 2010spy on Thursday 6th March 21:39

[paulmc]

I went with BMW inusrance. Very good quote. No tracker needed.

[Harris_I]

??

On an M5? They insisted on a category 5 in my case. (I live in rural Surrey, btw, not Moss Side).