Insurance nightmare!

[ClawHammer]

I had same issue a few weeks back. I got insurance quotes on my then current vehicle and compared the monthly payments. I knew I needed 1 or 2 months before the M arrived so I went with a policy that was cheapest for those two months. It was something like £50 for the first payment followed by 11 instalments of £40. So the most I would pay was £90 for 2 months. That same policy jumped up by £600 if I wanted them to cover the M so I knew I would not be using them.

I've never heard about being penalised for cancelling a policy early and I haven't been penalised. I'm 39, 3 points and paying £440 for the M. Some companies wanted ‚£1k and some £2k. I went with Direct Line.

Incidentally, my premium was reduced by £50 when I added my wife as a second named driver.

Good luck!

CH.

[ajfoggy]

Originally Posted by ClawHammer

I had same issue a few weeks back. I got insurance quotes on my then current vehicle and compared the monthly payments. I knew I needed 1 or 2 months before the M arrived so I went with a policy that was cheapest for those two months. It was something like £50 for the first payment followed by 11 instalments of £40. So the most I would pay was £90 for 2 months. That same policy jumped up by £600 if I wanted them to cover the M so I knew I would not be using them.

I've never heard about being penalised for cancelling a policy early and I haven't been penalised. I'm 39, 3 points and paying £440 for the M. Some companies wanted ‚£1k and some £2k. I went with Direct Line.

Incidentally, my premium was reduced by £50 when I added my wife as a second named driver.

Good luck!

CH.

where do you live roughly?

I'm 39, full no claims, clean license....

cheapest £650ish unless I go with admiral on multi car then I can get it for £560.

CAR INSURANCE! STUPID, JUST STUPID!

[Steveo]

Another direct line customer here, £220

[ClawHammer]

Originally Posted by ajfoggy

where do you live roughly?

I'm 39, full no claims, clean license....

cheapest £650ish unless I go with admiral on multi car then I can get it for £560.

CAR INSURANCE! STUPID, JUST STUPID!

Roughly I'm in the a North West of England and not too far from Liverpool. I didn't even need a tracker either. I have over 15 years no claims. I know most companies max out at 9 and above. Might not be relevant but it's the only other anomaly I can think of. Also, the last car I had was a 3ltr v6 engine. Again, not sure but maybe they see a person going from a 2ltr engine to 3ltr twin turbo and that makes it a higher risk.

CH.

[ClawHammer]

Originally Posted by Steveo

Another direct line customer here, £220

OMG! Now that's cheap. Where in country are you? You must be in your 60's I'd guess to get insurance that cheap?

[dopper99]

I'm with Direct Line but I dont think I'll be staying with them as they dont insure/list the M3 CP.

When I queried this with them they said I would need to insure it as a standard M3 and add individually the extras that the CP has such as the 19bhp increase and changed suspension!!! WTF?!

Not messing about doing that, I'll be going elsewhere where they list and recognise the CP as a different model. Pretty much every insurance website I've been on lists the CP apart from Direct Line and Privilege.

[scottc]

Originally Posted by dopper99

I'm with Direct Line but I dont think I'll be staying with them as they dont insure/list the M3 CP.

When I queried this with them they said I would need to insure it as a standard M3 and add individually the extras that the CP has such as the 19bhp increase and changed suspension!!! WTF?!

Not messing about doing that, I'll be going elsewhere where they list and recognise the CP as a different model. Pretty much every insurance website I've been on lists the CP apart from Direct Line and Privilege.

Have you tried getting a cp registration and seeing if it finds it that way?

Couple on auto trader and Sytner website

[dopper99]

Originally Posted by scottc

Have you tried getting a cp registration and seeing if it finds it that way?

Couple on auto trader and Sytner website

Yes I tried someone's from here last night (who left their reg visible!)

No joy - Direct Line's system say they dont recognise the car and the enter the car details manually. Either it is too new to show up on their insurance DB or they just dont recognise the model.

[jbtco]

What is the problem with declaring options including the comp pack. I use Privilge and have always listed all the options. A bit of a bore but when I was involved in a motorway pile up and seriously damaged my E92 comp pack Privilge were great and even more so when years later a spurious whiplash claim appeared related to the same accident. It is what happens when you need to claim that really counts.

[MB London]

Originally Posted by sos

No tracker with DirectLine.....and no change fees either now.

£355 fully comp with all extras - 38yr old

yes but I guess living in Devon, the only thing to worry about would be getting hit by the milk man

[Ade_7]

And relax!

Sorted with Direct line. Oddly when I called them before the prices were high but I did some online quotes today and then called to follow and they were extremely helpful.

M3 inc mods for £550 with no problems starting the policy with 330d (still oddly higher cost than the M3 but not by much and only for few weeks so i'm not so bothered) and then changing to the new car, no admin charge for doing that either

Thanks very much everyone for all of your help and hints, much appreciated.

[ajfoggy]

Originally Posted by ClawHammer

Roughly I'm in the a North West of England and not too far from Liverpool. I didn't even need a tracker either. I have over 15 years no claims. I know most companies max out at 9 and above. Might not be relevant but it's the only other anomaly I can think of. Also, the last car I had was a 3ltr v6 engine. Again, not sure but maybe they see a person going from a 2ltr engine to 3ltr twin turbo and that makes it a higher risk.

CH.

So basically within 10-20 miles of me, with the same no claims, experience, etc.etc. Yet mine cost £200 more. Really pisses me off insurance.

[Karlj]

Great to hear you managed to sort it out in the end! The best part of the buying process is when the only thing left to worry about is the drive home from the dealer.

[rjwojcik]

Hooray! Another tick in the box, panic over.

[dopper99]

Originally Posted by jbtco

What is the problem with declaring options including the comp pack. I use Privilge and have always listed all the options. A bit of a bore but when I was involved in a motorway pile up and seriously damaged my E92 comp pack Privilge were great and even more so when years later a spurious whiplash claim appeared related to the same accident. It is what happens when you need to claim that really counts.

No, there is normally no problems telling them about usual options such as electric seats, xenons or whatever and this does not make any difference to the price typically.
But .......... you tell them about a 19bhp increase and changed suspension (the CP is different to standard) then the price starts escalating to whatever they fancy ripping you off for.

[jbtco]

Originally Posted by dopper99

No, there is normally no problems telling them about usual options such as electric seats, xenons or whatever and this does not make any difference to the price typically.
But .......... you tell them about a 19bhp increase and changed suspension (the CP is different to standard) then the price starts escalating to whatever they fancy ripping you off for.

Will find out in a (hopefully) few weeks as am swapping current M for a comp pack. Didn't have any problem with E92 comp pack I had before current F80 but think it was listed as a separate model. I suppose it may be a timing thing and F80 comp pack will appear as a separate model.

[dopper99]

Originally Posted by jbtco

Will find out in a (hopefully) few weeks as am swapping current M for a comp pack. Didn't have any problem with E92 comp pack I had before current F80 but think it was listed as a separate model. I suppose it may be a timing thing and F80 comp pack will appear as a separate model.

To be honest not really found and problem with any other insurers and nearly all have the 2016 CP listed.
It just bloody Direct Line dont seem to want to list the CP as a separate model.

This is all you are offered:

[Ade_7]

It's ironic that I was struggling with the opposite problem. Direct line was the only online quote system that had the normal M3 at all.

All the other sites (BMW insurance included) only list the CP and not the normal models!!

[AlanYoro35i]

Why not just renew the insurance, pay it by months and cancelled a month later. Total cost would be 1+ month payment plus cancellation fee. And then you can buy insurance for new M3 elsewhere.

[Karlj]

Originally Posted by AlanYoro35i

Why not just renew the insurance, pay it by months and cancelled a month later. Total cost would be 1+ month payment plus cancellation fee. And then you can buy insurance for new M3 elsewhere.

Because usually the insurance monthlies are weighted so that the first month is ~300% of the rest of the year, specifically to avoid people cancelling in the first few months.

[Jimbooo]

I'm in stotfold only 40 mins from MK. 35 yrs old m4 with mpe and aero kit. All listed on insurance with admiral and 1500 ish on a multicar to include a 2016 X5 3.0d msport. They were by far the cheapest I found