02-15-2024, 02:20 AM | #221 | |
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I have a got a few more quotes, BMW £1170!!, Direct Line £1250!!! and LV wouldn't quote unless I fit a tracker. So, based on those quotes, and the figures that others on here are quoting, I guess I can't complain too much at £687. |
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02-15-2024, 02:32 AM | #222 |
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I think some of the problem is BMW parts prices.. for instance I have always been a VW Group man and out of curiosity I quoted for a 2 month old Skoda Superb L & K estate 280 BHP petrol with loads of extras cost £43000
Based on my BMW getting quoted £500 (£700 old company) this was £330 for the same policy with the same company I am with now! Insurance is one big rip off! and a car valued about £15-20K more and more powerful
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02-15-2024, 08:27 AM | #223 | |
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It's interesting that reducing the insured value to market value didn't seem to have an effect...bugger! Was hoping that may have influenced it! The broker I use has been with RSA for as long as I can remember but have now changed to ERS as apparently RSA are pulling out of the motor insurance business altogether. I'm hoping that when my renewal comes up in July they won't insist on a Tracker otherwise I'll be seriously p*ssed off! |
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02-15-2024, 12:57 PM | #224 |
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In the end, mine went up by 42% to just shy of £800. It would have been more, but I dropped business use as I'm only working at home at the moment.
This article has some interesting stats: https://www.abi.org.uk/news/news-art...rivers-mobile/ I thought theft would be a bigger proportion of the total, but it's only around 8%, whereas repairs and courtesy cars account for two thirds of payouts. So if everyone stopped driving like a twat, insurance would be peanuts. |
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02-15-2024, 02:46 PM | #225 | |
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02-17-2024, 03:32 AM | #226 |
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Insurance is indeed a huge con - with no real oversight or governance (IMHO) to prevent the biggest players from controlling the market (and prices). Admiral is UK's largest, and happily state in their annual report that they increased their premiums ahead of the market to avoid any impact of inflation - they have 9.5m customers, and still made £234m pre-tax profit. Got to keep the shareholders happy....
Couple that with lack of ability to challenge outrageous repair quotes for minor damage... Example: I 'walking speed' went into (under, really) an evoque with a tow bar in my F31 330d MSport 4 years back. Split the bumper so it was replaced and resprayed at BMW (because original insurer approved workshop didn't touch it in their car park for 4 weeks). £2800 was the cost of my repair. The evoque had no visible damage - thanks to the tow bar - and their insurer claimed £11,200 which mine paid out. Mine could not provide any detail on what that comprised. It's all balls....can't wait for my renewal quote... |
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02-26-2024, 09:50 AM | #228 |
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Well to add to the "they make it up as they go along" lunacy.
I collect my M340i tomorrow (72 plate touring, declared value of £50k). I'm trading in my F31 340i which is worth £25k for insurance purposes. 6 months left on my current policy. So, I was expecting to have to pay a bit if only to cover their admin costs. Erm no, I'm getting a £45 rebate. |
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02-26-2024, 09:55 AM | #229 |
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When I looked round last year tracker or not didn't seem to make a difference to premiums, only to the range of insurers who would quote. Thought that was a bit odd at the time, like you I would have imagined it would reduce the cost.
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02-26-2024, 10:07 AM | #230 | |
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Doesn't seem to reduce the cost of the premium but with some insurance companies appears to influence their possible expectations of not having to pay out for a total loss weighed up against the likelihood of recovering the vehicle, although in what state doesn't seem be something they consider either. Insurance premiums at present are an absolute sh*tshow. |
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03-11-2024, 03:47 PM | #231 |
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Well I got my renewal through and was £980. Comparison sites all around the £1500 mark and then somebody told me to try Quotemehappy. £850 so snapped it up.
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03-13-2024, 05:09 AM | #232 |
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03-13-2024, 05:54 AM | #233 |
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03-13-2024, 05:34 PM | #236 |
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03-20-2024, 02:35 AM | #237 |
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When the car was brand new I paid 1369pa. Last year it went up to 1988. Just had the renewal - £4319. What the actual. Three points I got in 2021, and central london with freelance business use. Shopping around and the best I can find is £3850. What is going on?!
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03-20-2024, 03:56 AM | #238 |
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At a guess: business use, you live in London (lots of targeted car crime if the press is to be believed), have a PHEV (expensive to repair, more likely to get written off) and have points on your licence. Maybe there are other factors like where you park overnight, miles/year etc. as well. All excuses for them to hike your premium I'm afraid.
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03-25-2024, 04:33 PM | #239 |
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So here we go again
I'm the OP and it's been 12 months and guess what insurance has gone up yet again So now hitting £1K average Taking the pi$$ now |
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03-25-2024, 04:58 PM | #240 |
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Yup! I was advised that at least part of the reason for this is that apparently a higher percentage of BMW drivers are involved in accidents. Whether that is true or not I could not say.
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03-25-2024, 05:08 PM | #241 |
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I've just renewed mine again and it's gone from £400 in 2022 to £700 in 2023 to now £970 and I've now got more instances of some companies won't even insure me. 58 years old with 10 years no claims.
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03-25-2024, 05:12 PM | #242 |
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Insanity, I hope that's for your 340d, not the 320d, but still...
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