M5 due in 10 Days (Advice)

[2010spy]

Just a quick one and I am sure it has been asked before but not all in one place…

a) Best price found for 1,500 mile run-in service?
b) Best insurance quotes or problems?
c) Best price for Gap insurance for two years?

Sorry if a bit boring, but would be good to have in place…

Mant thanks - getting closer now!

[-Z-]

Running in service: I'm paying £390, not the cheapest but they're round the corner.

Insurance: just try compare the market or the others. If it's a lease make sure you fill in the boxes correctly, some insurers can be funny about that.

Gap: I'm using www.ala.co.uk £200 for £25k cover for 2 yrs, also gonna take out their alloy wheel insurance, it's a very wide car so you always feel obliged to tuck right up against kerbs or it sticks out a long way!

[2010spy]

Thanks -Z- very helpful indeed...

[JMBMWM5]

By the way the service is @ 1200 miles not 1500.
I am with LV and they want £328 fully comp this year, not too bad if you ask me..

[Tonyc32]

-Z- said:

Running in service: I'm paying £390, not the cheapest but they're round the corner.

Insurance: just try compare the market or the others. If it's a lease make sure you fill in the boxes correctly, some insurers can be funny about that.

Gap: I'm using www.ala.co.uk £200 for £25k cover for 2 yrs, also gonna take out their alloy wheel insurance, it's a very wide car so you always feel obliged to tuck right up against kerbs or it sticks out a long way!

ooo I have lots of questions!

- Is PCH classed as private lease?
- Gap insurance - maybe a silly Q but do you take out gap insurance for the amount of.....well......I dunno. Explain! Why 25k cover?
- Are you getting back to invoice or return to invoice GAP on that website?
- I like the sound of the alloy insurance as I guarantee I will kerb them all...I mean I guarantee i will lend the car to the missus who will kernb them all! So I guess you can get any kerbed wheels re coated as long as you pay the £250 excess?

[2010spy]

Thanks - will look at LV as well.

[Palmball]

Guys, unless your M5's are coming with the standard 19" wheels (which I believe are painted), you're probably not going to be able to get alloy wheel insurance from ALA, or anywhere for that matter. They'll probably take your money but if you read their T&C's, you won't be covered.

The 20" wheels are diamond cut and all policies I've seen specifically exclude diamond cut and other 'special' finishes due to the cost and relatively limited places that can fix such wheels (they're not something that can be fixed by the side of the road with a man and a spray can!)


On GAP insurance, the level of cover (i.e. £25k) is the claim limit and max they'll pay out. You only need to 'insure' the difference between it's potential market value (that you'd receive on a payout) and the cost of getting a new one or paying off your finance/lease. £25k is sufficient on an M5 as any payout should never be more than £25k less than it'll cost you to pay it off.

HTH

Edited by Palmball on Thursday 6th February 00:57

[-Z-]

Tonyc32 said:

ooo I have lots of questions!

- Is PCH classed as private lease?
- Gap insurance - maybe a silly Q but do you take out gap insurance for the amount of.....well......I dunno. Explain! Why 25k cover?
- Are you getting back to invoice or return to invoice GAP on that website?
- I like the sound of the alloy insurance as I guarantee I will kerb them all...I mean I guarantee i will lend the car to the missus who will kernb them all! So I guess you can get any kerbed wheels re coated as long as you pay the £250 excess?

PCH is a private lease if you personally took the lease out, if the lease is in the name of your business or you used a self employed status to access business lease rates then it counts as a business lease. On insurance this is usually called "lease business".

You also have to answer 'no' to the question asking you if you own the car and also to the question asking if you're the registered keeper.

Gap insurance is recomended/essential if the car is leased. For example if the car is stolen then apparently the lease company can ask for all remaining monthly payments to be made of they want to. Gap insurance will pay this and also any shortfall in the value of the insurance pay out. The claim limit is £25k but you can go for less if preferred.

The type depends on the way you are getting your car. If PCH then select this one http://www.ala.co.uk/contract-hire-gap-insurance.h...

The alloy wheel insurance seems useful because there is no excess! They will fix the alloys a maximum of 3 times per policy year. I need to check that they use mobile repairers, if you have to take it to a centre then its a waste of time IMO.

Palmball makes a good point about the 20's, diamond cut alloys are excluded, I've got the 19s so I'm OK. As I said though, I need to call them to make sure they use mobile repairers and to get it in an email, otherwise its not worth it.

Edited by -Z- on Thursday 6th February 01:10

[2010spy]

Thanks - will look at LV as well.

[2010spy]

Thanks - will look at LV as well.

[djtex]

I can confirm that ALA do use mobile repairers as i have a policy and used them.

As long as you can provide them with access to electricity all is fine.

[Tonyc32]

-Z- said:

Tonyc32 said:

ooo I have lots of questions!

- Is PCH classed as private lease?
- Gap insurance - maybe a silly Q but do you take out gap insurance for the amount of.....well......I dunno. Explain! Why 25k cover?
- Are you getting back to invoice or return to invoice GAP on that website?
- I like the sound of the alloy insurance as I guarantee I will kerb them all...I mean I guarantee i will lend the car to the missus who will kernb them all! So I guess you can get any kerbed wheels re coated as long as you pay the £250 excess?

PCH is a private lease if you personally took the lease out, if the lease is in the name of your business or you used a self employed status to access business lease rates then it counts as a business lease. On insurance this is usually called "lease business".

You also have to answer 'no' to the question asking you if you own the car and also to the question asking if you're the registered keeper.

Gap insurance is recomended/essential if the car is leased. For example if the car is stolen then apparently the lease company can ask for all remaining monthly payments to be made of they want to. Gap insurance will pay this and also any shortfall in the value of the insurance pay out. The claim limit is £25k but you can go for less if preferred.

The type depends on the way you are getting your car. If PCH then select this one http://www.ala.co.uk/contract-hire-gap-insurance.h...

The alloy wheel insurance seems useful because there is no excess! They will fix the alloys a maximum of 3 times per policy year. I need to check that they use mobile repairers, if you have to take it to a centre then its a waste of time IMO.

Palmball makes a good point about the 20's, diamond cut alloys are excluded, I've got the 19s so I'm OK. As I said though, I need to call them to make sure they use mobile repairers and to get it in an email, otherwise its not worth it.

Edited by -Z- on Thursday 6th February 01:10

Thanks for all the info, I have the 19's also.

On their comparison page for alloy insurance is does say ALA = £250 excess contribution. Is this not the excess? EDIT: no, i'm reading GAP comparison!

Let me know how much the alloy insurance is as i will kerb mine for sure!

Thanks

[JMBMWM5]

Palmball said:

Guys, unless your M5's are coming with the standard 19" wheels (which I believe are painted), you're probably not going to be able to get alloy wheel insurance from ALA, or anywhere for that matter. They'll probably take your money but if you read their T&C's, you won't be covered.

The 20" wheels are diamond cut and all policies I've seen specifically exclude diamond cut and other 'special' finishes due to the cost and relatively limited places that can fix such wheels (they're not something that can be fixed by the side of the road with a man and a spray can!)

Edited by Palmball on Thursday 6th February 00:57

SPOT ON, No Cover for the 20" BMW M5 wheels.

[2010spy]

I wonder what is 'acceptable' wear and tear when it comes to returning these cars after two or three years? Should they expect wheels to be kerbed and the odd scratch...

[HoHoHo]

2010spy said:

I wonder what is 'acceptable' wear and tear when it comes to returning these cars after two or three years? Should they expect wheels to be kerbed and the odd scratch...

If it's anything like the tower contracts I've had, they will provide a document detailing exactly what's acceptable.

Some scratches with a maximum number on each panel and the odd wheel curb is fine.

Pile of ste dumped isn't.

[HoHoHo]

To add from memory I paid £320 for my service and it the original deal was reduced by that amount so I actually didn't pay anything at all.

[2010spy]

Got some quotes today - £371 for insurance (not garaged). There are some benefits to getting old!

[Tonyc32]

2010spy said:

Got some quotes today - £371 for insurance (not garaged). There are some benefits to getting old!

Nice, i'm looking at £2k once I factor in GAP insurance

[2010spy]

One quote came back at £12,000 so it could be worse!

[Andy M]

Tonyc32 said:

Nice, i'm looking at £2k once I factor in GAP insurance

For comparison, More Than have quoted me £815 on a new M5. I'm 32, clean license, and in a good postcode. £2k...wow!