Insurance issue

[ncrossy1980]

Hey guys, as a lot of you folk will have ///M's as a second car/weekend toy, I figured I could bounce this off you.

I've just rang up Chris Knox insurance, who've told me that my no claims bonus cannot be used against a second car... :headbang: WTF??

It's me that hasn't claimed, that's a fact, no claims bonus isn't a physical entity consumed by something else, it's just... RAH! This is utter BS and although I'm sure they can't tell me that without it being true, how the hell is this even a thing?! That's a total game changer for insurance costs on a car like a ///M! If you go to a comparison site and say you have 0 NCB they assume you've never driven before and the prices reflect that! I'm literally stunned at this, this is just as ludicrous as applying for a second job and being told your qualifications/experience cannot be used on this second job. Absolute BS.

I assume some of you guys have been through this, is there any advice to be offered or is it a case of bend over lube up

 

[DPG]

Same with me, I ended up going with Admiral as they gifted me 5 years no claims on my second car.

The whole insurance industry is a joke

 

[ncrossy1980]

Same with me, I ended up going with Admiral as they gifted me 5 years no claims on my second car.

The whole insurance industry is a joke

Yea currently I'm on the phone now to esure who are going to put my current policy onto a multicar deal. £250 for the Z4M as opposed to the comparison site which quoted me cheapest £600!!

 

[Darren M]

It's one of those things you only take out because you have to - otherwise I don't bother than any insurance or warranties (another type). Even on car insurance I tend to bump up the voluntary excess because any damage up to a certain amount to my own car I would especially I would rather pay for without involving the insurer, who more often than not are numpties to deal with to get the money.

Do share what you go with as I may be in a similar situation soon.

 

[ncrossy1980]

It's one of those things you only take out because you have to - otherwise I don't bother than any insurance or warranties (another type). Even on car insurance I tend to bump up the voluntary excess because any damage up to a certain amount to my own car I would especially I would rather pay for without involving the insurer, who more often than not are numpties to deal with to get the money.

Do share what you go with as I may be in a similar situation soon.

Right, jesus do I have a story.
So, Chris Knox (advertised on this site) quoted me over £600 originally claiming that my NCB couldn't be transferred. I then ran a comparison site check, probably with a few inaccurate details as I did it in a hurry, that came out at £510, Chris Knox then said we'll do it for £480.
So, I've just rang my current insurer, esure, who my 320d is insured with. They've 'mirrored' my NCB to a second policy, not multicar, this is a new policy starting up, and for the BMW Z4M Roadster they've quoted me and bearing in mind I'm paying £270 insurance for a 320d... £191.80p for the ///M

Honestly, I'm lost for words. I asked the guy how a 343BHP monster of a car is that much less to insure than a run-of-the-mill diesel, needless to say he couldn't give me an answer. I've snapped their hands off.

So the morale of this story is, ring your current insurer and ask about a second policy, existing customer with a mirrored no claims bonus deal

Wow, just... Wow. And to think, I nearly paid £600 for this.

 

[pvr]

In the beginning, I swapped insurance across cars to make sure that the cheapest car had the lowest discount percentage.

 

[Crusoe]

Honestly, I'm lost for words. I asked the guy how a 343BHP monster of a car is that much less to insure than a run-of-the-mill diesel, needless to say he couldn't give me an answer.

You are probably an old fart HTH oke:

Rep diesel driven a lot more miles and probably has a lot more accidents and claims, add in a few serious injuries and deaths and it really sways the figures. Not many Z4ms about and lots are sunny day only weekend cars that don't get in accidents very often.

 

[ncrossy1980]

Honestly, I'm lost for words. I asked the guy how a 343BHP monster of a car is that much less to insure than a run-of-the-mill diesel, needless to say he couldn't give me an answer.

You are probably an old fart HTH oke:

Rep diesel driven a lot more miles and probably has a lot more accidents and claims, add in a few serious injuries and deaths and it really sways the figures. Not many Z4ms about and lots are sunny day only weekend cars that don't get in accidents very often.

Haha I'm 34, arguably old, 1 SP30 conviction from 2012 with only 3 years NCB due to a company car blowing my full bonus!
I still haven't bought this car yet but I'm calling them back now to pay for this policy, this is too good to be true so I'm gonna buy it before someone changes their mind haha

 

[Crusoe]

Thought I was doing well with just under £300 for my ZMC at 37 years young and 10 years no claims, 10k miles and business use though so could get it down if I lowered the mileage and increased the £250 excess. Check the small print but sounds like a good deal.

 

[srhutch]

My insurance went down by 20% when I upgraded from my Z4 2.5si, now paying £250. Sub £200 is very good.

 

[ncrossy1980]

My insurance went down by 20% when I upgraded from my Z4 2.5si, now paying £250. Sub £200 is very good.

Haha yea if only this car was registered 24 hours earlier I'd be paying half the road tax as well! Registered 24/03/06 :headbang: haha I assume that was due to the new reg release dates or something along those lines, but it still stings.

 

[pvr]

The book value is going down as well of the Ms, probably insurance value not many above 10k now.

 

[AndyBeech]

Think I'm about £500 for the Z4M and a Seat Ibiza diesel with Admiral fully comp. No idea how they work the no clams discount but I've had a second car for 3 years and full no claims on the other, I guess! 31years old, reasonably happy!

 

[ncrossy1980]

The saga goes on, just rang them back up to pay for it... thinking the hell with it, I ain't got the car yet but I'm gonna pay this. Rep says the quote system has recalculated the premium to be £500!!! So they have to honor the original price and override it, the relief will be tangible once I get this settled.

However my original point is still kinda annoying, being unable to use NCB on 2 policies, that has to be something a watchdog/regulator needs to look into.

 

[srhutch]

If you get stuck try ClassicLine, they don't use NCD :wink:

 

[StevenH72]

The saga goes on, just rang them back up to pay for it... thinking the hell with it, I ain't got the car yet but I'm gonna pay this. Rep says the quote system has recalculated the premium to be £500!!! So they have to honor the original price and override it, the relief will be tangible once I get this settled.

However my original point is still kinda annoying, being unable to use NCB on 2 policies, that has to be something a watchdog/regulator needs to look into.

But then, presumably if you crash in the Z4M, you keep the NCB on the other policy?

If the policies mirrored each other, any incident on one would remove the NCB for both?

As PVR, I simply moved the NCB to the more expensive of the insurance risks.

 

[Anonymous]

Not second car related, but a note on Chris Knott as they appear to be active on the forum...

Called and went through all of my details, the lady had to come back to me after checking with the underwriters. Waited for a call back (granted it was in December run up to Xmas), nothing back for well over a week. I called again, only to be told that they couldn't cover me because it was the first RWD car I had owned.

That's fine and I understand, but why bother asking for experience in similar power and driven wheels (named driver on Dad's R8 for the last three years) and why state you'll match or beat any quote received if I match the criteria in the forum thread? Waste of my time and yours, to be honest. Would suggest an update to the criteria required!

That said, Direct Line promised my father they would match any car insurance quote as a "Premier" home insurance, just to get the business. Got to the point of giving bank details for the dd amount (a lot with three out of the five being performance vehicles on the multicar policy) and the guy turned around and said the underwriters had declined his "deal"...

The whole industry is an absolute shambles.

 

[Bing]

The saga goes on, just rang them back up to pay for it... thinking the hell with it, I ain't got the car yet but I'm gonna pay this. Rep says the quote system has recalculated the premium to be £500!!! So they have to honor the original price and override it, the relief will be tangible once I get this settled.

However my original point is still kinda annoying, being unable to use NCB on 2 policies, that has to be something a watchdog/regulator needs to look into.

But then, presumably if you crash in the Z4M, you keep the NCB on the other policy?

If the policies mirrored each other, any incident on one would remove the NCB for both?

As PVR, I simply moved the NCB to the more expensive of the insurance risks.

This is the problem with mirrored policies - if you have an accident (or however many your policy says you have until it's gone) the NCB will disappear for both cars and your insurance costs will go through the roof instantly.

 

[DPG]

So how can some insurance companies mirror NCB, some gift NCB as they did with me (5 years on the Tiguan) and others wont do a thing?

Maybe one for CK to answer

 

[Bing]

It does all seem a bit weird. I had to 'steal' my wife's NCB for my first Z as they wanted 3 years no claims to insure me, but I'd been in a company car. They just moved all 9 years to me - how does that work ? Meant that we got stiffed for a year on her car mind, then it dropped back by half. Now she's named driver in hers & building it back up, and I am the only driver on mine with 10yrs+. I guess my situation is slightly different though as both cars are daily drives, and the annual mileage on my policy - 15k - does most of the damage...

Oh and aero skirts are REALLY expensive to insure. Don't ever tell them you have them, because that crease down the middle of a bit of plastic can beggar you, on the off-chance an identical car parks next to yours, making yours more desirable to any thieves with a serious eye for detail that happen to be passing at that exact moment :x