E46 M3 Insurance

[HairyChineseKid]

Hi peeps.

Looking at getting an E46 M3 as my next car, found one local for around £12k.

Rang my insurers today (Adrian Flux) to change my current car for the M3 until my Policy ends May Next year, they want around £5k to change, i obviously put the phone down.

Im currently 24, had my liscence 3 years, 2 years No claims, 3 points SP60.

I am 25 in April next year and after looking on a few comparison websites my premium fully comp starting from when i am 25 will be around £1k.

Just wondered if anyone can reccomend some insurance for the time being otherwise i will just garage the car.

Thanks

Nick

[Ruskie]

Wait till your 25 and save £££?

[anonymous-user]

What quotes did you get when you put in your age as 24?

[frosted]

Ate you seriously looking to buy a car and storing it till next year ?

Trust me , having an m3 parked is not a good idea when you decide to go for a quick blast up the road with no insurance

[fatboy b]

Shop around AF have hiked their prices of late. I've switched from AF to Audi insurance and saved £200 over what AF offered. Maybe BMW offer a similar insurance service.

[HairyChineseKid]

Graham Sykes quoted me £7k

Comparison websites best was AA £2800 fully comp £600 excess with my Mum on there.

TPFT i was getting £1300 £500 excess quotes but dont really want to drive a £12k car on tpft.

The car i was looking at was a guy from work, Manual, 44000 miles, Individual midnight blue, recent discs pads all round, powdercoated wheels £12k.

Unsure what to do at the moment.

[itsnotarace]

HairyChineseKid said:

Unsure what to do at the moment.

Build up NCB on a stter like everyone else

[gj88]

itsnotarace said:

HairyChineseKid said:

Unsure what to do at the moment.

Build up NCB on a stter like everyone else

This.

If you cant afford to insure it then dont buy it. Simple really

[8400rpm]

Even with 8 years NCB and over 25 I wouldn't entertain the idea of trying to insure an M3.

Just isn't worth the outlay.

[RobM77]

I found a few weird insurance situations when I was in my 20s. I could afford to insure am E36 325i quite easily (1320kg, 192bhp, £5k), but a 200SX had stratospheric insurance (1320kg, 197bhp, £5k). The guy at the broker I use just told me that four door BMWs are bought by a different sort of person to the 200SX. I tried to tell him that that didn't matter because I was a fairly unhinged 24 year old that liked to drive really fast, but it didn't change the insurance Insurance is very odd basically, and seems to survive on bonkers statistics that make no sense at all. Personally, I'd either wait till you're 25 and get the M3, or look out for those insurance anomilies like I did.

[mat205125]

itsnotarace said:

HairyChineseKid said:

Unsure what to do at the moment.

Build up NCB on a stter like everyone else

If your policy runs to next May, then it's barely started in my eyes. Cancel your Flux policy, and take up one of the quotes for £1000 that you have seen.

I'm with Flux on my M3. Sadly I'm no longer south of 30 years old, however they were the most competetive for me to insure my car which is no longer factory standard.

[Oakey]

You haven't said what your current car is. Most insurers like to see some history of performance cars, at least they all have when quoting me. If you're going from a 1.3 Ka to an M3 then those quotes are understandable really.

[HairyChineseKid]

Cars i have insured with them are my old 106 GTI and current Astra GSi Turbo which is heavily modified.

I have emailed [e-mail] to see what they can do for me and if it would be worth starting a whole new policy, i would of had 3 years NCB but RAC robbed me with their 1 years NCB for 9 months cover BS!

cheers for the replies peeps.

[Ry_B]

Oakey said:

You haven't said what your current car is. Most insurers like to see some history of performance cars, at least they all have when quoting me. If you're going from a 1.3 Ka to an M3 then those quotes are understandable really.

I've never been asked what previous car I drove.

[Ian974]

M3 insurance is just daft really. I looked into it before, while I love the cars, I just can't justify the insurance costs.

[Paul_M3]

8400rpm said:

Even with 8 years NCB and over 25 I wouldn't entertain the idea of trying to insure an M3.

Just isn't worth the outlay.

Ian974 said:

M3 insurance is just daft really. I looked into it before, while I love the cars, I just can't justify the insurance costs.

It's not cheap, but I don't think it's THAT bad.

When I took out my latest policy it was £698 with a few mods declared (brakes, CSL wheels, suspension). That's fully comp with protected NCB and I was 30 when I took it out. (So not mega old)

[snorkel sucker]

cancel the current policy and lose 3 months NCB and a bit of cash. either that or wait and save up - its not like M3s are rare!

dont rush either. ive wanted an M3 for a long time now, but there are plenty of other cars out there which offer similar thrills but cost less to insure and run

[bromers2]

http://www.competition-car-insurance.co.uk/

Give these guys a call - they cover track days too (x5)

[NumberoftheBeast]

Last year I looked at getting an E46 M3 (and even the M5) but with little luck.

Male, 26 at the time, 4 years NCB, car garaged and 3 points (now cleared).

I was either getting refused or quoted 4 - 6 grand upwards. I refuse to pay it. Though I am fond of the M3, I found that for me, I could insure myself on a quicker/meaner/better car for less money.

In the end I opted for an RS6 (4.2 V8 Bi-Turbo which I mapped to 500bhp) which, in spite of the ridiculous running costs, was a fraction of the cost to insure and a LOT quicker. It was also, in my view, more prestigious than an M3. Now in a 911 Turbo (yes - it is insured) and haven't looked at any M3s since!!!

[HairyChineseKid]

Got it done to 2200 so far, bit better than £7k, online comparison sites say if i put my details in as if i was 25 i can get fully comp for just over a grand