Insurance

O

ocrx8

Active member
 Essex
Has anyone renewed insurance for their M recently?

As I get older I've been used to the premium coming down each year. Last year I was 28 and paid £340, which I thought was excellent. The renewal came in recently £418, so naturally I went straight to the comparison sites thinking this was a ludicrous price. However, I'm really struggling to find anything lower.

I just wondered whether anyone else has noticed a general upward trend in insurance premiums :x
 
I found all the assurances of "it'll be cheaper next year" to be a load of bollox.

Almost every year I'd see an increase in my renewal - like-for-like cover, but with an extra year's driving experience & NCB - and would have to hunt around for another insurer, which would then bring me back to about the same premium I had the year before.

After 30 years of that, I'm resigned to the fact that it's what I have to do every year. I get no loyalty discount from an insurer, so I don't offer any loyalty either.

But despite all the above, I haven't noticed the last couple of year's premiums/renewals getting any larger.
 
I wasn't going to gloat, but since you're asking:

///M Roadster, 8k miles per year, Social, domestic and commuting cover, fully comp. Me and Mrs R, both with clean licences and full no claims.

Last year paid Admiral £246

Renewal just come through £218

:) :) :) :) :) :) :) :) :) :) :) :)
 
Last September was my renewal with admiral. Came through about £25 higher, but after a phone call got it back down. Currently paying £205. Csn5 see me getting it any lower.
 
I'm 33 so similar to yourself, kind of! Just renewed the other day, mine comes down every year after a 10 minute call every year saying I'm not happy with the renewal, politely of course, they're always great on the phone to be fair.

With Admiral, renewed for £197 a year for the M and £180 for a SEAT Ibiza both fully comp multi car policy. No-one else could even get close to that.

No idea how they do the maths but you don't generally get the best offer unless you call up and have a little lets get you the best quote possible chat.
Not the best reputation insurance company wise, but they've always been ok for me. That's with all mods delcared etc. Worth a shot.
 
The only watch out with Admiral, is that whilst they want you to declare all mods, their policy states they'll only pay for returning it to standard...and will not replace the mods.

So if you've got expensive mods, it may be worth getting an agreed value policy (to include the cost of the mods), or go somewhere that will replace like-for-like.

Saying that, I'm with Admiral on a multi-car policy, but I've got a fairly recent £14k claim (albeit with 12 years protected NCB), and the policy covers up to 30,000 miles of fully comp, SDPC & B1, parked on the road in Liverpool.

Mine is £900 a year (for the BEAST and the slightly tweaked Z4MC) - which is about the same as it was for my modified Corrado VR6 (before it was modified & after), 3.6 M5, 3.8 M5.

XJ6 was £160 (in 2006) , Metro was £600 (in 1990)
 
Both my 3.0 z4 and my missus' fiesta st180 were cheaper this year, even with a non fault claim on her insurance from last summer.

Mine was £60 less (£320) than last year her's was about £200 less (£415).
 
Wow. We were paying £305 for the M but in a high risk post code. Although the car was garaged.

Moved all our cars to A plan and saved £500.

Thatcham office is wonderful.
 
Ive just had a quote with Admiral. I am 40yo. I have 4 year NCB, a SP30 from 2.5 years ago and my Z4MR is garaged (currently SORN'd). I had to declare a claim that wasn't my fault and didn't incur any NCB loss and the cover is for under 4k miles a year. The quote was for £461.44. Marginally cheaper than what it was last year, but nothing to call home about. Definitely not the £200 that somebody mentioned here! :(
 
I’m not even going to mention mine, except to say it creeps up and needs beating down every year (in the same manner some others have mentioned). 36, 6 yrs NCB but 10 mins from central London so :cry:
 
MrPT said:
I’m not even going to mention mine, except to say it creeps up and needs beating down every year (in the same manner some others have mentioned). 36, 6 yrs NCB but 10 mins from central London so :cry:
Click to expand...

I'm in a similar jam, 17 years NCB but the location kills the price! :headbang:
 
ocrx8 said:
Has anyone renewed insurance for their M recently?

As I get older I've been used to the premium coming down each year. Last year I was 28 and paid £340, which I thought was excellent. The renewal came in recently £418, so naturally I went straight to the comparison sites thinking this was a ludicrous price. However, I'm really struggling to find anything lower.

I just wondered whether anyone else has noticed a general upward trend in insurance premiums :x
Click to expand...
Renewal of £418 :rofl: don’t know what people are moaning about, that’s pennies. Was paying about 15 hundred for my M policy alone. 3 years time, those with the early cars will be eligible for classic car insurance.
 
Admiral for me, elderly gent with max no claims and very safe postcode; multi car policy with 4k miles on the Z4MR... £89 this year.
 
Mines just dropped from £1100 with Elephant to £600 with Hastings. I’ve recently turned 25 but still have an at fault accident on my policy from a few years ago, on my old Z.
 
BradleyB said:
Mines just dropped from £1100 with Elephant to £600 with Hastings. I’ve recently turned 25 but still have an at fault accident on my policy from a few years ago, on my old Z.
Click to expand...
Check the vehicle value!!!!!!!!!!!!!!!!!!!!
Hastings are on a scam at the moment, they tried insuring mine at the book value of 4K. The policy then doubled when I corrected it. If you correct the value online, there is an auto default value that will be put in without your knowledge!!!!
 
dannytheduck1985 said:
BradleyB said:
Mines just dropped from £1100 with Elephant to £600 with Hastings. I’ve recently turned 25 but still have an at fault accident on my policy from a few years ago, on my old Z.
Click to expand...
Check the vehicle value!!!!!!!!!!!!!!!!!!!!
Hastings are on a scam at the moment, they tried insuring mine at the book value of 4K. The policy then doubled when I corrected it. If you correct the value online, there is an auto default value that will be put in without your knowledge!!!!
Click to expand...

Same happened to me when I looked at Hastings this year.
 
dannytheduck1985 said:
BradleyB said:
Mines just dropped from £1100 with Elephant to £600 with Hastings. I’ve recently turned 25 but still have an at fault accident on my policy from a few years ago, on my old Z.
Click to expand...
Check the vehicle value!!!!!!!!!!!!!!!!!!!!
Hastings are on a scam at the moment, they tried insuring mine at the book value of 4K. The policy then doubled when I corrected it. If you correct the value online, there is an auto default value that will be put in without your knowledge!!!!
Click to expand...

Wow.. thanks for the heads up! I’ve just given them a call and the value was defaulted to £4250. Needless to say I’ve cancelled my policy and I’m now with Admiral.. for £590, with a proper market value!
 
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