'95 M3 on Classic Policy?

[Windymiller]

I've just bought a '95 M3 that's going to be a track car. I won't be using it on the road other than to drive to/from a track (can't store a trailer/tow-car combo) so the mileage will be tiny.

So, is it worth trying to insure it on a classic policy, or is it too 'new'?

Any other suggestions? Because it's a second car, there's no NCB to use which is making it a bit expensive. Ta!

[NicoG]

Windymiller said:

I've just bought a '95 M3 that's going to be a track car. I won't be using it on the road other than to drive to/from a track (can't store a trailer/tow-car combo) so the mileage will be tiny.

So, is it worth trying to insure it on a classic policy, or is it too 'new'?

Any other suggestions? Because it's a second car, there's no NCB to use which is making it a bit expensive. Ta!

I believe I can help you, as I do precisely what you're asking on a newer car.

I have a 98 Evo and I insure it on a classic policy through Peter best INsurance (broker) the actual policy is with ''Eclisiastical Insurance''

I pay less than £400 / year and that it for 3K miles. I can and will extend this to 5K miles for about another £160.

The best news is yet to come; THEY DONT USE YOUR NO CLAIMS, it's just you and the car, so this means you are free to use the NCB for your daily driver....

Lastly, I have never had a single problem with them and would whole-heartedly recommend, for me and my car, and the mileage I do, nothing comes close !!

HTH - Nick.

[mmm-five]

I put my e34 M5 on a classic, limited mileage policy when I bought the Z4MC, so I used the NCB on the Z4 and only had to pay about £200 for the M5 (and they didn't load the premium for modifications, they simply wanted a list of what was fitted and an agreed value).

[Windymiller]

Cheers guys. I've had a quote of Flux for £499.50 with no NCB, £250 excess, 5k per year which ain't too shabby!

[okgo]

What denotes a classic policy?

Could I put a 1998 528 on one? I do literally no miles...

[NicoG]

okgo said:

What denotes a classic policy?

Could I put a 1998 528 on one? I do literally no miles...

From the point of view of my policy I see no reason why not !!

I started my policy originally with my E30 Sport Evo, when I sold it I transfered it to an 840Ci and now the E36 M3...

If you want agreed value you have to post off 6 photos, (left right front back engine interior) and hope they agree with you but Peter Best is a small enough company I ended up speaking to the MD who was more than aware that a Sport Evo was not any old 20 year old 3 series...

Give them a try, but the real benefit comes from the value of the car vs the value of the policy, ir how cheap the premium seems.

Don't take it the wrong way but I reckon I could insure an E39 528i for less than £300 with unlimited mileage on a normal policy...
The benefit for you might be that you can use your NCB for another car

[Ash From Flux]

The normal terms for classic insurance are:

It has to be a second car (you have annother every day car)
Limited milage (less than 5000)
Vehicle kept in a garage
It has to be over 10 years old and has to be deemed as a classic car (not an old banger)

Thats not all set in stone but they are usually what you need to be looking at.

Ash