insurance

[matt86]

Hi everyone, I'm new to the club, nice to meet you all.

I have a question about insurance and which the cheapest companies are to insure a 320i 91 convertible, no mods, don't have any no claims bonus yet and have a dr10 drink drive conviction from 5 years ago, also I'm 25.

I'm currently with admiral and changed my car from a audi a4 2.8 v6 quattro estate to the bmw and strangely it went up, I thought it would go down a fair bit.

I'm currently paying 180.00 pounds a month as I pay it monthly, which I think is ridicoulous as that works out at over 2000 a year, surely I should be able to get it for closer to 1000, I know the drink drive thing doesn't help, but I am 25 and been driving 6-7 years.

Thanks

Matt

[SimonTemplar]

Many companies immediately class a convertible as a sports car, so on paper they will have you down as owning a convertible sports car, which is probably the reason why the premium went up.

I have a group classic car policy, and was not allowed to add my E30 ('93 Touring) to that as it was too modern for them. Once you are not under classic rules you are classed as driving a modern car - in your case with six cylinders, two litres, a convertible roof and a premium badge. Dial in the drink drive conviction and the fact that you are under 30 and I am afraid that while you might shave a little off by shopping around I doubt you will get too close to £1000. Your previous car, although poweful, was a four wheel drive estate so I am not surprised that it was cheaper to insure than the current one, profile is a lot of the equation to insurers, in my experience.

You could look at extra security on the car, ask them which immobilizer would help, garaging it in a lockable garage overnight if you do not already? Or you could look to limit the mileage per year, which can be done without the car being classed as a classic?

To give you a point of reference, I pay just under £140 a year to insure a standard spec 1993 E30 318i Touring which is kept overnight in a locked garage, I live in a very low crime postcode, I am 37 years old, married with small kids, own my own home, am an ex-civil servant and have the car on a limited mileage policy as it is not a main car. I have a clean licence and have never had a criminal conviction.

A friend of mine - who is still a civil servant - who pays £1500 to insure a 1.6 litre Ford Fiesta..!

So with the industry the way it is, I am afraid that I am not surprised that they are charging you so much for that profile of car, particularly with your history.

I would look at garaging, security on the car and limiting the mileage, but frankly I don't think that much will help other than waiting until you are over 30 and having the DD conviction get even older. Or buy a car without the soft roof and with two fewer cylinders, but I am assuming that that option is not on the table.

Sorry not to have been more positive - it's tough out there at the moment in the insurance industry, and you are exactly the profile of driver they like to penalize, unfortunately.

ST

[Rich320I]

give footman james a try im with them fully comp bmw e30 320i cost me about £216 per year adn im 28

[SimonTemplar]

They are good - I'm with Footman James, too.

[Rtaylor2208]

The cheapest way to ensure an E30 is on a classic policy, mine was £89 with lancaster after cashback for the year when I went through quidco about 3 months ago.

Downsides are limited mileage of 4K per year, no agreed value, you have to have anoter car as a daily driver and it must be garaged.

Ive a clean licence (for the first time in about 10 years), 31 years old and no no claims bonus as it doesn't matter on a classic policy anyway.

Out of curisosity I did get a quote for it as a daily and it was just under £350 for the year with the same restrictions as above but with 9 years equivalent company car no claims.

[Alex]

Convertibles cost an arm and a leg for young drivers.

I turn 21 in two weeks and have got a quote of £700 with flux direct and £800 with Ecar insurance i have 4 years no claims though

[matt86]

Cheers lads for everyones advice especially the footman james insurance! Just got it for £650.68 fully comp with them limited to 3000 miles a year, best quote before that was 1750 and rang a lot of places so almost a third of the price can't believe it! I did ask them to double check every last thing as it seemed to good to be true, but he said its because its classic car insurance.

Nice one lads you've saved me 1000, more money for restoration and upgrades now : )

Cheers

Matt

[SimonTemplar]

Always a fantastic moment when something turns out much cheaper than you expected!

[Rich320I]

Im surprised more people don’t use footman james, the where by far the cheapest quote I could find. Best tip for insurance is avoid comparison websites like the plague unless you feel the need to get ripped off.

[SimonTemplar]

Agreed, we have put a number of old cars with them over the years and they have always served well. Have had to use the recovery thing a couple of times, too, once from the continent, and they were spot on, so cheap prices don't always equate to poor service.

[matt86]

Only small downside to the policy is they don't give you no claims as its on a classic policy, but planning on hanging on to me e30 for quite a few years as has taken me since I wanted one when I was 17 to get one and now 25, just goes to show there not actually that bad to run if you search in the right areas.

[matt86]

Manged to get it down from 650 to 580, but telling them I'm a member of e30 zone too, so worth doing that if you havent already or are thinking of getting a quote with them.

Thanks

Matt

[adit]

i just received my insurance renewal with Swinton Specialist Vehicles (from when i first insured my Tech1 Sport two years ago).
it was £289 and due in a week's time. thay phoned me and said that if i renewed it by the end of this month, i could have it for £249.
i rushed to the local branch first thing this morning and was about to pay when i noticed that it said "NCD 0 years" Eh?
when i queried it, i was told that you don't get No Claims Discount with classic vehicle insurance
i asked what would happen if i renewed for another year. i would lose all my 10 years NCD! except for two or three firms (Axa and Aviva iirc) who would allow "old" NCD from up to three years ago.
i requested a "normal car" (my 318i Touring) quote from a company, without NCD and was told the cheapest was £880!!

i then asked for a quote allowing my full NCD, before it ran out, which was actually two days before this year's renewal, was quoted initially £388, queried that amount and then got it for £295 Fully Comp, with full protected NCD


BTW: forgot to say "clean licence and 29 years old, ahem" (shut it Ravster!)

[Rav335uk]

BTW: forgot to say "clean licence and 29 years old, ahem" (shut it Ravster!)

Tell the truth.

[polsta]

Cheers lads for everyones advice especially the footman james insurance! Just got it for £650.68 fully comp with them limited to 3000 miles a year, best quote before that was 1750 and rang a lot of places so almost a third of the price can't believe it! I did ask them to double check every last thing as it seemed to good to be true, but he said its because its classic car insurance.

Nice one lads you've saved me 1000, more money for restoration and upgrades now : )

Cheers

Matt

3000 miles isnt a lot if this is your only car and youl be driving it all the time all year round..