Insurance on fast saloons

[chuno]

Right, unfortunaly one of the toys (Ferrari 348) had to go recently due to our first baby that is due later this year.
I managed to keep the other (VX220), but am looking for a fast everday family car. I have been looking at the E39 M5 and possibly an S4 (B6)
I am 30, married, own my own home etc, no points or accidents etc etc, basically a model citizen as far as car insurance is concerned. I am currently paying just under £300 for the VX and paid about £400 for the Ferrari (although on a classic policy). Have had a look around at insurance and the cheapest i can get the M5 for is about £1100! The S4 isn't much cheaper at over £800.
I have always thought that one of the only few benefits of becoming that little bit older was chaeper car insurance - it's been many years since i have paid over £1k for insurance. WTF is going on?? Can anyone recoment anyone for me to try? The cheapest is Admiral so far.
At this rate i'll end up with a stty oil burning eurobox!

[TopCAD]

You must be doing something wrong as I had a B5 S4 this time last year (at 21 years old) and that was only £1400 for me. And I live in a bad postcode (Manchester)

Have you tried Bell/Elephant/Admiral?

[VolvoT5]

If you can afford to buy and run the type of cars you mention, why would you be fussed about 800 quid for the insurance?

[chuno]

Er, because i'm not a millionaire and haven't got money to just throw away?? Or am i a rare case on PH??

FFS, why bother even posting with such an unhelpful comment?

[mrmr96]

Have you tried some specialist brokers?
e.g. Knowell Richards, Eggar Lawson, Pace Ward, Keith Michaels, Competition Car Insurance, MORIS, Adrian Flux etc

[V88Dicky]

chuno said:

Er, because i'm not a millionaire and haven't got money to just throw away?? Or am i a rare case on PH??

FFS, why bother even posting with such an unhelpful comment?

Give him a break, I don't think there is any malice in what he said, in fact, he has quite a valid point.

According to your profile, until recently you could afford to run TWO weekend cars/toys, as well as two more mundane vehicles. As a relatively new dad myself, I know how lucky I am to be able to keep and run a weekend car as well as my daily heap. And yet you seem to lust after a really rather expensive to run car as a daily driver(fuel/tax/initial price), but are shocked at having to pay £800 for insurance?

Just my humble opinion, maybe I can't see where you're coming from?

[mrmr96]

V88Dicky said:

Just my humble opinion, maybe I can't see where you're coming from?

He's selling one of his cars because money's tight. Besides, this isn't a thread about the OP's personal finances and us judging him. No. It's a thread about how to insure fast saloons more cheaply, so contributions would be better received if they were i) useful, or at least ii) on topic.

[StottyZr]

V88Dicky said:

Just my humble opinion, maybe I can't see where you're coming from?

He pays £300 on a VX220 and paid £400 on a Ferrari and you can't see why he's miffed that an M5 will cost him £1100 to insure?

Me thinks you need to take some maths lessons

[Froomee]

Try SKY insurance they only quote over the phone. It took me about 10 minutes to get a quote and they were the cheapest by a long way.

[V88Dicky]

StottyZr said:

V88Dicky said:

Just my humble opinion, maybe I can't see where you're coming from?

He pays £300 on a VX220 and paid £400 on a Ferrari and you can't see why he's miffed that an M5 will cost him £1100 to insure?

Me thinks you need to take some maths lessons

I appreciate that, but it is well known that insurance premiums have increased by something like 40% in the last year.

Of course, this should'nt stop anyone from shopping around though.

ETA the Ferrari being on a classic policy may have helped considerably.

[OMNIO]

Its probably to do with the cars assosiated risk.

I would have thought there would be more claims accross the board related to M5s and S4s than Ferrari 348s. Plus the 348 is on a classic policy.

Its like when i was hunting for insurance. The 2.6 A4 i drive at the moment is £1000 a year but on a 1.2 corsa its £3500. The only reason i could think of for it is that most new drivers have something like a corsa so there are thousands of claims assosiated with corsas. There are probably fewer claims on the audi.

[rsv gone!]

Remember that insurance prices have increased across the board this year. 35% increase is the average, or so I read somewhere.

[chuno]

Ah, thank you, some people can see some sense!

Thank you for the reccomendations, i will give them a try, hopefully will get ait a bit cheaper.

Yes, whether you beleive it or not, up until recently i managed to run 4 cars (one being the wife's) on a fairly moderate salary by PH standards (as it seems that if you earn under £100k and are not a company director you are a pauper on here).

And for the record, the 348 was by far the cheapest car that i have owned. Yes, perhaps it was a financial risk not being a millionaire, but if you want something bad enough, you will take that risk, and i must say that i don't regret it! (perhaps if it wasn't such a good example i might have done)
Anyway, back on topic please - enough of my financial situation as this is not what i wanted to discuss.

EDIT: Just read the last few posts - perhaps you are right and it is down to insurance premiums increasing. My old man was moaning at me the other day that his renewal went up 50% - I just told him it was probably becaus eof his age - he didn't like it! :-)

Edited by chuno on Tuesday 31st May 10:23

Edited by chuno on Tuesday 31st May 10:25

Edited by chuno on Tuesday 31st May 10:26

[V88Dicky]

Have you considered an S-type R? The good lady wife and I are both insured for her S-type for around £420 (through Admiral Multi-car). Postcode's nowt flash!

[anonymous-user]

£550.00 fully comp with aviva for me on M5... 36 years old and not brilliant postcode.(parked on road)