Insurance

[Gus 5]

what are people paying for M325 insurance? not that keen to payt $2k+ a year or so....and who through? i know its been done before but im special...i need my own insurance thread....any replies helpful

[bimmer boy 21]

no one would cover me with my 320i

then again being only 17 and on my learners doesnt help

maybe go to a smaller type insurance company

[EeK 0]

if you're having trouble it's often a good idea to check out the company [or broker] that your parents insure with? some companies may consider insuring a vehicle where the driver or car doesn't fit their standard underwriting criteria as accomodation business, if your parents have all their insurances with them and are valued customers etc...

[Gus 5]

that is with them! Westpac, underwritten by lumley...i might try otherplaces, or else try insure for lower value...ellie u work in insurance? if you insure for a certain value, if you crash do you get paid that value or a book value?

[hybrid 1043]

the 330 costs 2500 per year through AMI ... and im 27

[CADMAX 0]

I can get it for about $1800 per year for a 328.

But I’m 22 and have my truck licence’s + road pilots + recovery.

Edited December 22, 2004 by CADMAX

[aliluya 0]

I belive at the moment it must be around $1500 insuring for $61K ...

But the excess is a killer .. around $5000 ..

[BMA 0]

u guys spend a lot of money on insurance hah

why not just have a race car and sh*t daily driver, save money hah

and have the best of both worlds

go third party with fire and theft, just keep it for the black day when u hit a lambo or something

[cage 0]

I pay 400 for mine

[cainchapman 0]

Bloody hell. Those are all expensive.

$800p.a. for the 540is and a $250 excess. With the AA.

[Juzzie Wuzzie 0]

$65 a month for the M3 - just for fire and theft - not even to take it on the road! Yes, I can multiply $65 x 12 = lots for a stationary object!

[Grant 4]

Bloody hell. Those are all expensive.

$800p.a. for the 540is and a $250 excess. With the AA.

Cain

Our age may have something to do with our lower premiums, I pay stuff all for my car either.

Cheers

[*sic 1]

damn insurance co's wont touch me with a 50 foot pole.

bastids.

look at andys comments in the other thread about insurance he recommmends

"Insure Direct" (by Inbroke Corp)

0800 505 885

never know

or pioneer insurance? somewhere in nelson or some sh*t... hmm ill try find out.

[m325i 709]

Some of you guys are getting swindled.

I used to pay $1500 pa for a turbo mazda, and i had had claims, (NZ auto club)

I was paying $450pa, then i claimed, now its $800 pa. Thats for full cover. AMI i think, (through a broker).

I had no trouble at all insuring the BMW. Try insuring a sub, or an evo. That's a real fun exercise, fool.

[EeK 0]

that is with them! Westpac, underwritten by lumley...i might try otherplaces, or else try insure for lower value...ellie u work in insurance? if you insure for a certain value, if you crash do you get paid that value or a book value?

depends on the type of policy you get - agreed value, premiums are generally a bit higher but you know the amount that you are insured for is the amount you'll get paid if you have a total loss, and then there's market value, where you get paid the market value of the vehicle immediately prior to the time of loss [or the amount your car is insured for, whichever is the lesser]. market value is ok provided you keep you policy up to date with the correct value, so you're not paying premiums based on an amount you're never going to get if you have a loss.

check with the company that you end up insuring with as to what kind of policy they're offering you tho... some don't do agreed value at all.

that's my understanding anyway - i don't work in claims tho

[shadowninja 0]

How old are you Gus, and what is your driving history (speeding tickets, fines, and accidents)?

I used to work claims, and still work in financial services. Ellie is spot on in her description of the covers. BTW some companies won't offer "agreed value" covers unless you supply a written vehicle valuation (at your own cost).

Looking at what companies pay in claims for under-25 males its amazing they can get cover at all (much less those with a substandard history).

[Guest Andrew]

Insure Direct might insure you gus - we essential have the same car in thier eyes (allthough mine has a lot more "modifications" and yours has "factory modifications" which make a diff). They would not insure me if I had any speeding tickets though.

[hybrid 1043]

yeah .. I dont have a no claims bonus + the vehicle is worth over 50k, so with full cover and all options (free car rental and accomadation blah blah blah) it sits around that ... I have shopped around. AA wouldn't insure me (even tho I have been with them three times before and even for the old e36)

sooo .. I was talking to several people about this.. and basically if you own a car of a certain value at a certain age bracket .. your fuxored.

I have a friend who has just bought a DB9 .. hes 32 and the car is worth around 350k .. imagine one could only what his insurance is worth :/

[aliluya 0]

Dads car was 250K and his insurance is about the same as mine .. and his excess is 1% value of the car ..

[CADMAX 0]

Well when I insure a car I do it for every thing (the lot).

thats why it cost so much.

[Gus 5]

ill talk to insure direct...im 19 and got an $80 ticket for 115 about 3 weeks ago...and one yesterday but i am going to seriously argue that one as the speed limit sign was covered, so had no way of knowing it was an 80 and not 100 (on open road so i presumed), and wrote a car off when i was 16 (yes, over the value of 10k) at the mo insured 3rd party Only, which is gay, but better than nothing....gonna look at changing it in the new year as im not driving over new years for comprehensive

[shadowninja 0]

Soz Gus, based on that Resume I don't think many insurers would provide you with full cover, especially not for a 'performance' european car... not without charging a third of the value of the car in premiums with a hefty excess to boot. In which case you have to wonder whether its worth it. Say $6k car, $2k premium, $2k excess... you'd only get $2k back if it fell off the road in the first year.

Merry Xmas.

[Gus 5]

yeah i thought as much.....haha i am the devil! merry xmas