Insurance gone up quite a chunk this year on both BMWs...
Discussion
Afternoon chaps
Just wondered if any of you had noticed this also?
I have 2x old BMWs, a 2005 5 series runabout and a 2002 M3.
I renewed the 5 series around February time and the price was around 20% higher than the previous year, and there was nothing I could do about it.
Just had my renewal through for the M3, and that's the same. I questioned it at the time of insuring the 5 series and got other quotes but they were all a good chunk higher than last year.
The M3 is not quite standard so I'm not going to waste time on comparison websites, but the broker again told me that their insurers all seem to have put a premium on BMWs especially over the past few months
So is this happening to everyone, or am I just not getting enough quotes?
Cheers
Just wondered if any of you had noticed this also?
I have 2x old BMWs, a 2005 5 series runabout and a 2002 M3.
I renewed the 5 series around February time and the price was around 20% higher than the previous year, and there was nothing I could do about it.
Just had my renewal through for the M3, and that's the same. I questioned it at the time of insuring the 5 series and got other quotes but they were all a good chunk higher than last year.
The M3 is not quite standard so I'm not going to waste time on comparison websites, but the broker again told me that their insurers all seem to have put a premium on BMWs especially over the past few months
So is this happening to everyone, or am I just not getting enough quotes?
Cheers
I lowered the mileage on mine (e91 330d) from 12k to 8k per year half of which is business use.
I think it came down by about £80 - and the renewal without lowering the mileage was within £5 of the previous year.
Not sure I buy that "all BMWs have gone up". Some of the comparison sites now have a section for mods, worth a look.
I think it came down by about £80 - and the renewal without lowering the mileage was within £5 of the previous year.
Not sure I buy that "all BMWs have gone up". Some of the comparison sites now have a section for mods, worth a look.
It seems to vary every year!
Renewal for my 2005 330i came through from Churchill at £262 last month. I tried websites, LV and Aviva but they didn't get close.
Being an old fart I called Saga - result, £241 with a much smaller excess than Churchill!
I'll no doubt have to do it all again for my other BMW next month though.
Renewal for my 2005 330i came through from Churchill at £262 last month. I tried websites, LV and Aviva but they didn't get close.
Being an old fart I called Saga - result, £241 with a much smaller excess than Churchill!
I'll no doubt have to do it all again for my other BMW next month though.
Thanks for the feedback chaps. Not normally one to make an insurance post but just hearing both my insurers say it this year got me thinking...
I'm still 'only' at around £430 with them on the M3 - which is still cheaper than the 5 series was, so it will do for now. Up from £360 last year however.
I'm still 'only' at around £430 with them on the M3 - which is still cheaper than the 5 series was, so it will do for now. Up from £360 last year however.
Interesting, there was a report recently I read saying car insurance generally had droppd by 10% or something this last year due to fewer claims.
I insured my new to me 2015 528i a few weeks ago for £175 fully comp with LV for 8k miles a year so there are some good deals out there if you are old and live in a low risk area.
Even the 535i was only a few £'s more at just over £180.
I insured my new to me 2015 528i a few weeks ago for £175 fully comp with LV for 8k miles a year so there are some good deals out there if you are old and live in a low risk area.
Even the 535i was only a few £'s more at just over £180.
Monkeylegend said:
Interesting, there was a report recently I read saying car insurance generally had droppd by 10% or something this last year due to fewer claims.
I insured my new to me 2015 528i a few weeks ago for £175 fully comp with LV for 8k miles a year so there are some good deals out there if you are old and live in a low risk area.
Even the 535i was only a few £'s more at just over £180.
That's interesting, not often they pass the saving back on to us though eh I insured my new to me 2015 528i a few weeks ago for £175 fully comp with LV for 8k miles a year so there are some good deals out there if you are old and live in a low risk area.
Even the 535i was only a few £'s more at just over £180.
Well curiosity got the better of me so I compared some meerkats this morning...
Cheapest price was with Hastings Direct "youdrive" - £338 with a blackbox fitted
- next price again was Hastings at £375. Although they were valuing my car at about 1/3 of the going rate.They do have a 'mods' section on the comparison sites now as the chap above said so I tried that too. They don't have an option for 1x Recaro seat and a harness but managed to get the bulk of it in - prices doubled!
Not too surprised about the M3 price from yesterday, it was more the 5 series that was annoying
Admiral went up massively for me when I wanted to swap from an older 330D to a newer 320D.
I was prepared for a small increase due to the difference in value, but 4x the price was taking the pish, and was more than the Z4MC (with declared mods on the same usage basis)!
Called to ask if they could do anything, as I had other cars on a multi-car policy with them, but nothing.
Did a few online quotes and got it back to almost the same price I was paying previously for the older/cheaper car. Left the other cars with Admiral as they were around the same prices as the comparison sites.
I was prepared for a small increase due to the difference in value, but 4x the price was taking the pish, and was more than the Z4MC (with declared mods on the same usage basis)!
Called to ask if they could do anything, as I had other cars on a multi-car policy with them, but nothing.
Did a few online quotes and got it back to almost the same price I was paying previously for the older/cheaper car. Left the other cars with Admiral as they were around the same prices as the comparison sites.
S54B32 said:
Monkeylegend said:
Interesting, there was a report recently I read saying car insurance generally had droppd by 10% or something this last year due to fewer claims.
I insured my new to me 2015 528i a few weeks ago for £175 fully comp with LV for 8k miles a year so there are some good deals out there if you are old and live in a low risk area.
Even the 535i was only a few £'s more at just over £180.
That's interesting, not often they pass the saving back on to us though eh I insured my new to me 2015 528i a few weeks ago for £175 fully comp with LV for 8k miles a year so there are some good deals out there if you are old and live in a low risk area.
Even the 535i was only a few £'s more at just over £180.
Well curiosity got the better of me so I compared some meerkats this morning...
Cheapest price was with Hastings Direct "youdrive" - £338 with a blackbox fitted
- next price again was Hastings at £375. Although they were valuing my car at about 1/3 of the going rate.They do have a 'mods' section on the comparison sites now as the chap above said so I tried that too. They don't have an option for 1x Recaro seat and a harness but managed to get the bulk of it in - prices doubled!
Not too surprised about the M3 price from yesterday, it was more the 5 series that was annoying
Age also makes a difference, I am in the sweet spot at the moment, old enough to be considered a lower risk but not quite old enough to be considered a liability, only a few more years for that
S54B32 said:
Monkeylegend said:
Interesting, there was a report recently I read saying car insurance generally had droppd by 10% or something this last year due to fewer claims.
I insured my new to me 2015 528i a few weeks ago for £175 fully comp with LV for 8k miles a year so there are some good deals out there if you are old and live in a low risk area.
Even the 535i was only a few £'s more at just over £180.
That's interesting, not often they pass the saving back on to us though eh I insured my new to me 2015 528i a few weeks ago for £175 fully comp with LV for 8k miles a year so there are some good deals out there if you are old and live in a low risk area.
Even the 535i was only a few £'s more at just over £180.
Well curiosity got the better of me so I compared some meerkats this morning...
Cheapest price was with Hastings Direct "youdrive" - £338 with a blackbox fitted
- next price again was Hastings at £375. Although they were valuing my car at about 1/3 of the going rate.They do have a 'mods' section on the comparison sites now as the chap above said so I tried that too. They don't have an option for 1x Recaro seat and a harness but managed to get the bulk of it in - prices doubled!
Not too surprised about the M3 price from yesterday, it was more the 5 series that was annoying
I think it's more about the next renewal - if you've been logging data that you've been tanking about at 50 in a 30 then it'll impact.
Also I think they use it if there is an incident.
Just had to get finalised quote for a change from a 2008 E91 330d to a 2016 F31 335d - 8 k miles, both me and my wife with business use (4k miles a year business use) both clean licenses and 12 years NCB. Gone up from £290 per year to £600.
Much higher value car and more susceptible to theft.
Also I think they use it if there is an incident.
Just had to get finalised quote for a change from a 2008 E91 330d to a 2016 F31 335d - 8 k miles, both me and my wife with business use (4k miles a year business use) both clean licenses and 12 years NCB. Gone up from £290 per year to £600.
Much higher value car and more susceptible to theft.
So, I recently changed a 6yr old 6 series GC for a 3 yr old G30 (5 series) - and Direct Line wanted to increase my premium by about £40.
Checked on comparison web site and LV were over £200 cheaper! so worth paying Direct Lines £40 cancellation charge and switched.
It is worth looking as all insurance is going down - check out this article: https://www.moneysavingexpert.com/news/2021/05/che...
Ref BMW theft: I used to work in the security industry and tried to sell theft prevention concepts to insurers, but UK insurers don't care about theft as it is a relatively low risk cost to them - Your money mainly goes on whiplash claims, etc
One reason that Beemers and other top motors are more expensive is the repair costs - When you have special aluminum bodywork and masses of electronic gizmos, the repair bills are much higher (try buying an adaptive headlight unit from BMW and it will be the wrong side of £1k!)
Checked on comparison web site and LV were over £200 cheaper! so worth paying Direct Lines £40 cancellation charge and switched.
It is worth looking as all insurance is going down - check out this article: https://www.moneysavingexpert.com/news/2021/05/che...
Ref BMW theft: I used to work in the security industry and tried to sell theft prevention concepts to insurers, but UK insurers don't care about theft as it is a relatively low risk cost to them - Your money mainly goes on whiplash claims, etc
One reason that Beemers and other top motors are more expensive is the repair costs - When you have special aluminum bodywork and masses of electronic gizmos, the repair bills are much higher (try buying an adaptive headlight unit from BMW and it will be the wrong side of £1k!)
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