Refused by insurance, need advice

[Yuen 16]

We recently got a E36 323is (coupe), and it's a M-Tech/M-sport version which has the M-Tech interior, wheels, and M bumpers.

Trying sort insurance out with ASB now, they are underwritten by IAG aka State, all was going well after telling them it was a 323i, with me and sister being under 25 being covered - insurance is under dad's name, he can get a significant discount, he's the main driver, we drive the car occasionally.

Then we say it's a Motorsport. The story changes completely from then on, IAG does not want to cover under 25 drivers because the Motorsport basically turns our car into a 'high performance vehicle'. I try to tell them what Motorsport has the same engine as a regular 323, but they don't know anything.

What should I do? To all you guys who have M-sport E36s, is your E36 considered a normal one... no need to mention the Motorsport? Thought full disclosure was best... seems to be a bad idea with people who don't know anything about the cars they are insuring.

For what it's worth, the registration only states the car as a 323i.

[M325is 0]

Call em back, chances are you wont get the same person. This time just dont mention it.

[my_e36 43]

I had that exact same car (e36 323i M-sport), no problem at all with AA. They don't need to know what they don't need to know. Motorsport is not exactly a "sport" model anyway. They should be more worried with M3s. Insurance companies are just so ignorant, worrying about the words on the model designation instead of the actual performance.

Sigh! Rant over.

[jpp 0]

Call em back, chances are you wont get the same person. This time just dont mention it.

Unless you mentioned your account?

Wouldn't want them to replace with a 'standard' e36 if something happens though would ya?

Wasn't someone on here in the insurance business?

[nz320i 0]

AMI

[entscheidend 0]

PM sent Yuen

[Gus 5]

State sucks balls

after writing off a car at 16, they insured me for a year and then turned around and said 1.8L primera was too big of an engine.

needless to say whole family changed insurance companys after that...f**kers

[Yuen 16]

Who are you with now Gus?

[FIRE 1 0]

HEY BOYS, I was a underwriter for NZI & STATE .The problem is not the car it is that you are under 25 years old.Your dad will get insurance no doubt ,any under 25 will find it hard to get insurance given the CAR it is a high RISK to Insurance Companies ,your best bet is to go through a Insurance broker ,u will defiantely get Insurance for your vehicles .Your worst mistake will be to lie about anything on your application ,Insurers can hold that against you ,and if u have a claim it can declined for the exact reason- DUTY OF DISCLOSURE .Iam a Insurance broker now I would help u out but I only deal with Commercial Insurances .You could try ACM in Takapuna.Cheers

[*Glenn* 854]

ACM are excellent...... They do all my commercial & personal Insurance

[Old_Skool_Bmw 0]

Hi Yuen.

Im an insurance consultant for Tower Insurance. I just checked and the 323i isn't classes as a hotlisted or 'performance' car. I can only think that the reason you were declined is bacause the Motorsport version is seen as a 'Modified' version of the standard 323i because the motorsport parts are optional from the factory standard 323i.

It's a really bad idea not to disclose all details when taking out the cover, so whoever yo go with, you need to tell them all the details about the car. If i was you i'd try an insurance brooker. I've had the same problem being under 25yrs with my Merc 190e because it was a 'cosworth' model.

You should try Insure Direct on 0800 505 885, they will do u25 on that car. or i'd just check your local paper and call a well known insurance brooker.

Let us know how you get on.

Laurence.

[M3_Power 636]

NZI classed my CSL as a Sport Sedan .... apparently all M3s and M5s are ... not a sports car .. a Sport Sedan ...

Then again I am not under 25 ...

[tibbs.james 1]

With any of the usual insurance companies I could not get insured for my dads 3.0 Subaru, as soon as he got me set up with a broker it wasn't a problem. I'm not even going to bother with companies like AMI or state when it comes time to insure my 300zx. Getting insurance for my 320i was hard enough through AMI with a clean record and no claims!

Again being under 25 sucks

I would hate to think what an insurance company would do if you had your car certified for particular mods

[Yuen 16]

Thanks everyone for the replies Does going through a broker cost more... and if so how much extra would we expect to pay (ballpark figure) for the 323i M-sport?

We're seriously considering selling it atm as a solution to the insurance.

Interesting how the CSL is classed as a 4 door.

[E30stz 0]

keep in mind sedan doesnt necessarly mean four door - dictionary.com ->

"an enclosed automobile body having two or four doors and seating four or more persons on two full-width seats"

going through a broker tends to save you more money in the long run. I dont personally know of the fees that might be incurred but they seem to find hte best deal for you.

Edited May 19, 2007 by E30stz

[Yuen 16]

keep in mind sedan doesnt necessarly mean four door - dictionary.com ->

"an enclosed automobile body having two or four doors and seating four or more persons on two full-width seats"

going through a broker tends to save you more money in the long run. I dont personally know of the fees that might be incurred but they seem to find hte best deal for you.

Haha, thanks Andy. I'll give a broker a call next week and see...

[Old_Skool_Bmw 0]

I would think that a broker would almost always be a bit more expensive, in the end they are just the middle man for some company in NZ or overseas that will cover your car...

Granted, sometimes it is just a lot easier to go with a broker and save yourself the hastle.

Best thing to do is:

a) Decide what you want to cover, Do you want a basic cover for cheep, or do you want a comprehensive cover that provides a bity more cover eg. what if you have an accident 200km's from home (does your insurance compnay cover you to get home again??, are you covered for repairs by a repairer of YOUR chioce??).

come up with an budget for your insurance. Have a ball-pack figure in mind, or talk to peole and see what they have cover for and what they pay.

c) RING AROUD. remember the cheepest cover is not always the BEST cover.. Decide what is important for you.

You may not always find the best cover on your first call, but if you know what you want and ask the right questions it can be really easy.

Laurence.

[Greg111 13]

i didnt seem to have that problem when i insured my e36 M3, the names under the oldmans and im the named main driver so i dont see why there would be a problem with a 323i, use a different insurance company if worse comes to worse.

[Grant 4]

What I found interesting today, is that I arranged cover (full insurance) for my 1997 5spd 328i. It is actually slightly cheaper to insure than my 1996 auto 323i. Both cars are unmodified 4 door's. Same company, and both cars are insured for the same amount.

What is also interesting is that both BMW's are cheaper to insure (by some margin) than our 1996 Saab 900s (2 litre auto)

Cheers

Grant

Edited May 23, 2007 by Grant

[Neal 512]

Thanks everyone for the replies Does going through a broker cost more... and if so how much extra would we expect to pay (ballpark figure) for the 323i M-sport?

We're seriously considering selling it atm as a solution to the insurance.

Interesting how the CSL is classed as a 4 door.

Yuen ,

Brokers shouldn't cost you anymore, and can often save you on premiums. I'd try giving John Baker insurance a call. I had the dilemma of trying to insure a motorcycle, with AMI the yearly was going to be $2800 with 3k excess (Was late 30's at the time). JB gave me a deal for the same level of cover with half the excess for $1200 yearly at the time. Needless to say , he's got more of my business. Was a few years back, but JB was driving a Bimmer at the time .

I notice on my policy's I'm covered for young riders , be it at a higher excess.

Give them a try, http://jbinsurance.com/ , they may be able to help with the car.

[*sic 1]

meh the moment i said rollcage + ~4K sounds (at the time) all companys ran for the hills.

never had insurance on the crx... so yea i wouldnt recommend it, but it did save me like 1800 a year for third party..

lol. 25 now so its gotta be good for something. insurance ... funny thing is i dont like cars anymore... damn age