M3 Insurance

[scratch pervert]

Hi guys,

Who do you use to ensure your M3?

I'm looking at buying a 2004 M3 convertible but have had nothing but silly quotes due to 10 years of driving under policies in my fathers name and not having any no claims bonus of my own

[E36GUY]

elephant.co.uk were about 50% cheaper than anyone else I tried. And a full 12 month policy not that 10 month accelerator nonsense

[JezF]

^^^^^^^^^^

APlan! They were genuinely the cheapest - £480 for an E36 Evo with Class 1 business use and on-street parking.

[scratch pervert]

I've tried both of them and the cheapest of the 2 was £2200!!

[Vesuvius 996]

Sounds about right.

I pay 2k for a 911 in East London with full NCB.

[djohnson]

scratch pervert said:

I've tried both of them and the cheapest of the 2 was £2200!!

In terms of running a car like the E46 M3 £2k is not the end of the world. I was paying £1,300 for mine and that's with a full no claims. Buy the car, pay the insurance and enjoy it. BTW - the M3 is a really great car. I had mine about 18 months and really enjoyed it. Go on get it bought. You know you want to.

[Vixpy1]

£250

[petrolhead76]

I pay £700 with elephant which is based on £250 excess - just sorted out today to pick up the M3 tomorrow

ETA This includes my wife on the policy - she is younger than 30yrs old which probably bumps up the premium

Edited by petrolhead76 on Friday 23 November 17:07

[Vixpy1]

I've got a 10% excess

[E36GUY]

£1145 for me with Elephant. Parked on the street in SW17. That's what kills it. If I was PE28 like the rentals it would be £650!

Try putting your Dad on as a named driver. I did and premium went down by £40! Christ only knows why but I ain't arguing

[petrolhead76]

I was debating whether to activate the tracker on the soon to be acquired M3...reduces the premium by £40, but costs £30 a year to do.....not sure if I want my car found if its been stolen so may give that a miss !!!!!

[sjp63]

petrolhead76 said:

I was debating whether to activate the tracker on the soon to be acquired M3...reduces the premium by £40, but costs £30 a year to do.....not sure if I want my car found if its been stolen so may give that a miss !!!!!

Tracker is more than £30 a year!

[djohnson]

BTW - did I mention that you should stop worrying about insurance and buy the car?

[petrolhead76]

sjp63 said:

petrolhead76 said:

I was debating whether to activate the tracker on the soon to be acquired M3...reduces the premium by £40, but costs £30 a year to do.....not sure if I want my car found if its been stolen so may give that a miss !!!!!

Tracker is more than £30 a year!

No idea - its what the garage guy said - but like I said before I take everything with a pinch of salt what comes from traders mouths!!

So how much is it out of interest (the tracker is fitted just needs to be activated)?

[taffyracer]

Female on the policy, especially one over 30 is worth its weight in gold for reducing premiums

[sjp63]

petrolhead76 said:

sjp63 said:

petrolhead76 said:

I was debating whether to activate the tracker on the soon to be acquired M3...reduces the premium by £40, but costs £30 a year to do.....not sure if I want my car found if its been stolen so may give that a miss !!!!!

Tracker is more than £30 a year!

No idea - its what the garage guy said - but like I said before I take everything with a pinch of salt what comes from traders mouths!!

So how much is it out of interest (the tracker is fitted just needs to be activated)?

Its £30 to activate the (already fitted) tracker in your name plus £125/year subscription.

[scratch pervert]

taffyracer said:

Female on the policy, especially one over 30 is worth its weight in gold for reducing premiums

The quote I've had includes my mum and dad as named driver.

Putting mum's name on bought the premium down by about £200!!

[Lynx21]

i was quoted 1090 quid for a 330ci M-tech then 2400 quid for an m3. Thats with 3yrs NCB and being 21. Gonna carry on shopping aroud to see if i can get a better price, but the way it's looking, i'm just gonna have to stick my hand in my pocket and stump up 2400 :|


To be fair i was expecting it to be like 4k, so 2400 was a nice suprise...

[Collaudatore]

I also can recommend Elephant. Around 750 if I remember.
I also noted playing about with the options saved me a couple of hundred or so - by which I mean I really figured out what my actual mileage would be (approx) instead of my habitual sticking down 10k a year
Also adding parents is a good move and use of another car I think brought it down.
The next nearest quote I received was 1300 or so
I never got so far as to try the hi-performance insurers. I was happy with 700ish.
I would also agree with the guy above - GET IT! It's what money was invented for

[paoloh]

When I insured my cars privately, I used Admiral. They also allow you to build NCB quicker by using 10 months policies and then giving you a years NCB. THis can also be transferred to other insurers. I now have a trade policy for my business that covers all stock, mine and my wifes cars, premises, burglary, windscreen etc etc £1800 and there is no limit on cars that can be driven. I have over 10 staff and 2 under 25 who are covered on this policy!!