[White91]

Originally Posted by Average Golfer

The FCA introduced rules around fair pricing last year which was supposed to stop the issue of dual pricing where insurers were charging more for renewal customers and less for new customers. The reason for this was because there was concern that renewal customers who did not shop around were paying more than they needed.

The upshot of this was that the premium for a new and renewal customer must be the same which has resulted in premiums for a lot of people going up as clearly insurers are not going to wholesale reduce their prices. Alongside this has been the issue of inflation and lack of vehicles/parts which has caused a massive spike in claims costs. The lack of vehicles/parts means that people spend longer in courtesy or hire vehicles, the cost of which is all borne by insurers!

So essentially regulation has yet again worked against consumers it is supposed to benefit

[bmnut]

Originally Posted by Average Golfer

The FCA introduced rules around fair pricing last year which was supposed to stop the issue of dual pricing where insurers were charging more for renewal customers and less for new customers. The reason for this was because there was concern that renewal customers who did not shop around were paying more than they needed.

The upshot of this was that the premium for a new and renewal customer must be the same which has resulted in premiums for a lot of people going up as clearly insurers are not going to wholesale reduce their prices. Alongside this has been the issue of inflation and lack of vehicles/parts which has caused a massive spike in claims costs. The lack of vehicles/parts means that people spend longer in courtesy or hire vehicles, the cost of which is all borne by insurers!

I remember reading about that last year ensuring pricing parity and wondered if that was what the advisor was on about. Thank you for that!

[bmnut]

Originally Posted by White91

So essentially regulation has yet again worked against consumers it is supposed to benefit

So bloody true! No wonder us motorists get sick of being victimised. I'm feeling stressed now so I'll have to go on the sick!.....oh bugger!....I can't.... I'm retired. Where's the wine?

[Average Golfer]

In terms of my own pricing experience, I am picking up a new M340i Touring next week so have just done a change of vehicle with Admiral from my Golf R and the premium has gone down! My Golf R premium was about £450 so clearly they see the more expensive BM as a safer bet!

[seanblee]

Originally Posted by Average Golfer

In terms of my own pricing experience, I am picking up a new M340i Touring next week so have just done a change of vehicle with Admiral from my Golf R and the premium has gone down! My Golf R premium was about £450 so clearly they see the more expensive BM as a safer bet!

Funny you should say that - I just moved from a 2019 Golf GTI to a 2021 M340i Touring with Annual and the additional premium was about £50, so it does appear Admiral prefer M340s to performance Golfs!

[scottc]

I am changing from a m340d to a new G82 M4 and with admiral it added £9 which was the admin charge.

[Charlisdad]

I changed from a G20 320D to a G20 M340d and the increase from Admiral was around £30. It was when the renewal came in that it went t*ts up.

[xenon]

Originally Posted by willougs

Me too... but the quotes I am getting are quite frankly outrageous. It seems to me they just dont want the business so quote ridiculously high.

Late 40's, 9+ years NCB, bog standard 330e.
Premium last year: £409
Renewal quote from DirectLine: £602
Elephant: £1800!
Churchill: £1202

Trying to get DirectLine to "see what they can do" on an online chat at the moment. It's like pulling teeth. The advisors name has changed 3 times and I've had to explain the situation each time. There's 10+ mins gaps between any communication from them and after about an hour I'm still waiting for an updated figure.

Quote wise, the best so far is BMW Flex. But not by a great deal.

Well, mine wasn't 19%.... 100% in fact. Not too dissimilar to you: 55 yrs old, 19yrs NCB, unmodded 330i, last year 334 this year 687
Go Compare gives Tesco at best for 521.

[MAN15H]

Bloody cost of living nonsense..

Mine was £400 last year for fully comp with protected NCB with the renewal coming in close to £650 with the same insurer.

I'm 51 with over 20 years NCB
No accidents and clean license.
Garaged overnight and secure parking during the day.
2019 G20 330E

I've gone with BMW Flex insurance this year for the first time.. £50 per month fully comp with protected NCB. Runs until I decide to cancel or if BMW decides they want to cancel.. Lets see how that goes.

[scottc]

Just had my renewal thorough from Admiral..

Went from £805 for two cars to £2033.. Madness

Shopped around and saved about £500 without using multi car discount

[G82Dude]

Originally Posted by scottc

Just had my renewal thorough from Admiral..

Went from £805 for two cars to £2033.. Madness

Shopped around and saved about £500 without using multi car discount

Yes, Admiral have lost the plot this year. Individual insures are spanking them at the moment. Found Aviva very aggressive on pricing, oddly...

[beerglass007]

Just had another nightmare

My lad got a Citroen C1 and the insurance quote was £720 in Jan 2023 when he purchased the car. I was checking all sorts of first cars for him and the C1 was the cheapest and made the best sense

He's passed his test and can't get it any cheaper then £1300 now

Called a few companies and told same thing again, its gone crazy

They really don't want people driving

[srbs73]

Originally Posted by beerglass007

Just had another nightmare

My lad got a Citroen C1 and the insurance quote was £720 in Jan 2023 when he purchased the car. I was checking all sorts of first cars for him and the C1 was the cheapest and made the best sense

He's passed his test and can't get it any cheaper then £1300 now

Called a few companies and told same thing again, its gone crazy

They really don't want people driving

Does feel a bit net zero by the back door.

[vadimo]

Any recommendations for insurance that is mods friendly? I found Asmiral is good but concerned my August renewal may go up making me shop around.

I did try Aviva last week but they don't touch cars with suspension mods, spacers plus lower springs

[vadimo]

By the way I found PPF is good, I had self inflicted injury to the bumper, paintwork survived, went back to the body shop and they applied new PPF, no insurance needed, no claim, no excess and no history of accidents.

[MLite_Dad]

Originally Posted by vadimo

Any recommendations for insurance that is mods friendly? I found Admiral is good but concerned my August renewal may go up making me shop around...

Hi Vadimo, Everyone else. Can anyone assist with some advice please. I'm due to pick up my new M340i Touring on Wed 12 Jul (which is my first ever BMW) but still have not secured a reasonable quote (i.e. less than £1,500 with a well known insurer). I now only have tomorrow to sort it and I fear they'll now have me over a barrel. I plan to change the wheels and tyres as well as lowering the car on AC Schnitzer springs on Day 2.

Is it normal for Insurers to be asking for upwards of £1.5K as well as demanding a Tracker be installed? Have no probs with installing a Tracker although I was just planning on installing the AutoWatch Ghost II Immobiliser but the broker I spoke to said AW Ghost is not as highly regarded as I was thinking. If I had any hair, I'd be pulling out. Just fed up now and want the insurance issue resolved. Anyone know if Admiral insure modded cars as described above.

The quotes I got below £1,500 are from companies I've never heard of with appalling reviews on 'TrustPilot' so would prefer to avoid them.

Grateful for any advice folks and thanks all.

[vadimo]

Originally Posted by MLite_Dad

Hi Vadimo, Everyone else. Can anyone assist with some advice please. I'm due to pick up my new M340i Touring on Wed 12 Jul (which is my first ever BMW) but still have not secured a reasonable quote (i.e. less than £1,500 with a well known insurer). I now only have tomorrow to sort it and I fear they'll now have me over a barrel. I plan to change the wheels and tyres as well as lowering the car on AC Schnitzer springs on Day 2.

Is it normal for Insurers to be asking for upwards of £1.5K as well as demanding a Tracker be installed? Have no probs with installing a Tracker although I was just planning on installing the AutoWatch Ghost II Immobiliser but the broker I spoke to said AW Ghost is not as highly regarded as I was thinking. If I had any hair, I'd be pulling out. Just fed up now and want the insurance issue resolved. Anyone know if Admiral insure modded cars as described above.

The quotes I got below £1,500 are from companies I've never heard of with appalling reviews on 'TrustPilot' so would prefer to avoid them.

Grateful for any advice folks and thanks all.

The price will differ by tour age, claims history, NCB but M340i is in high insurance category plus when its modified it increases price and narrow down list of insurers that are willing to quote.

Admiral I found most friendly with mods.

I usually get the quote without mods then ask what if I add this mod or this mod how much will it go up by, gives me an idea also of they are taking the piss.

[RichardM]

Originally Posted by MLite_Dad

Hi Vadimo, Everyone else. Can anyone assist with some advice please. I'm due to pick up my new M340i Touring on Wed 12 Jul (which is my first ever BMW) but still have not secured a reasonable quote (i.e. less than £1,500 with a well known insurer). I now only have tomorrow to sort it and I fear they'll now have me over a barrel. I plan to change the wheels and tyres as well as lowering the car on AC Schnitzer springs on Day 2.

Is it normal for Insurers to be asking for upwards of £1.5K as well as demanding a Tracker be installed? Have no probs with installing a Tracker although I was just planning on installing the AutoWatch Ghost II Immobiliser but the broker I spoke to said AW Ghost is not as highly regarded as I was thinking. If I had any hair, I'd be pulling out. Just fed up now and want the insurance issue resolved. Anyone know if Admiral insure modded cars as described above.

The quotes I got below £1,500 are from companies I've never heard of with appalling reviews on 'TrustPilot' so would prefer to avoid them.

Grateful for any advice folks and thanks all.

The Tracker requirement has been discussed here, the suggestion is most insurance companies use the same underwriter and it is them requesting it.

I'm going with BMW Flex when I get my car next week as they didn't require one but they are not mod friendly. I was shocked at the price increase from my 330D

[Charlisdad]

Originally Posted by RichardM

The Tracker requirement has been discussed here, the suggestion is most insurance companies use the same underwriter and it is them requesting it.

I'm going with BMW Flex when I get my car next week as they didn't require one but they are not mod friendly. I was shocked at the price increase from my 330D

I've got an M340D with body Mods, (no performance ones), and a Trackster tracker fitted. I'm insured with Admiral and found them best although the tracker made no difference to my premium and wasn't required either. It was already on the car.

[beerglass007]

Originally Posted by beerglass007

Spent more time this year ringing around for car insurance than ever before and still no joy

BMW M340i 2020 worth £37K. 51 years old, 25+ no claims bonus, 10K miles a year and social use only

Last year with Admiral £390, this year £980. When asked why I was told cost of living, so told them to do one

A Plan - £1K
Carol Nash £1100
Adrianflux -£1K
BMW - £800 but that's without mods, I have M Performance kit fitted and when I told them they wouldn't quote





Spoke to a few others and told last year insurance companies got hammered. Lost money due to lack of parts, putting people in hire cars, EV cars getting written off due to cost of batteries.

The worse hit is German cars and the reason they have hit me hard is because they don't want you.

Also told it was the price of car, which I laughed because it was £60K new and now only worth £36K which is less so how has the price gone up.

If you put a M340i into go compare you get over 126 quotes, add the modded sides, front and boot spoiler and its 26 quotes and over £900. Some even £4K

Spoke to a mate of mine who has a M4, last year it was £750 with admiral and this year its £3K

It's a total rip off because they can charge what they like, you need insurance and it's not regulated correctly.

NIGHTMARE

The BBC have finally caught up and posted this

https://www.bbc.co.uk/news/uk-wales-66236110

They fail to mention it driven by EV cars as well as other factors

[xDrive320D]

I am a member if the Institute of advance motorists and used there scheme for the last 14 years.. always been competitive, and always got close to any quote off comparison sites..

Had my renewal come gone from £357 to £751

Got a quote from Quote me happy at £450 still a rise but not 100% rise....

Seems they no longer offer a price match service so after 14 years lost my business.. I will be trying them again next year to see how they compare..

Bit disappointed really as they were fantastic to deal with so I did not mind paying a few pounds extra, and when I spoke to the chap on the phone I think he was as Pxxxxx off as me.. some brokers must be loosing loads of business..

[Kleev]

I'm shocked, I got a quote for a new M340i touring at the end of May on comparethemarket, and was quoted £650 with Admiral. Which I was really happy with. I went ahead and ordered the car.

I have just run a new quote, not even 2 months later, and the cheapest quote is now £1200.

WTF? This is a total pisstake.

I don't understand how the quote was so much cheaper just 2 months ago. Now the car is ordered I am fked really. The only saving grace I can possibly think of, is that my car isn't due to arrive for another 4 or 5 months, so by then maybe the insurance will have dropped a bit. But it could be even higher.

I have to renew the insurance on my 3 year old 330i in a few days too. My current insurance was £670 or something in August 2022, and my latest cheapest quote on compare is £1029. How can that be justified when the car is now a year older? It's madness.

My only hope is Admiral who I am with at the moment will quote me a reasonable price when they send me their renewal, but I am not holding my breath.