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      10-07-2013, 10:39 AM   #1
SpokenHands
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Insuring the 640d in UK

Hello:

I am finding that the 640d M-Sport attracts special attention by UK car insurance underwriters, as it falls into Group 49:

I have been asked to:
  1. Install a tracker, without which no insurer will cover for theft
  2. Have a compulsory excess of £700 added to any voluntary excess I already have?
  3. Had all excesses on other insurance areas increased to £700
  4. doubled my premium from the 5GT despite 8 years NCD/0 points

I have a specialist insurer on another car I run but didnt expect a stock BMW to attract this kind of attention. Any of you in the UK have to add trackers and pay an upgraded compulsory excess?

I reckon my current insurance provider, eSure is a bit like Aviva, not too keen to have expensive BMWs on their books. Any recommendations of alternatives I could get quotes from?

Many thanks all.

AR
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      10-07-2013, 10:49 AM   #2
RichardP
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Try Admiral, they were by far the cheapest for an M6GC.
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      10-07-2013, 02:38 PM   #3
dannym
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Hi, It must be postcode based as I just got a quote from Tesco for 267 fully comp with £500 excess. I get my 640d M Sport at the end of this month, the insurance is cheaper than my 2008 X6 that I'm trading in! I just used one of the comparison websites.
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      10-07-2013, 02:59 PM   #4
SpokenHands
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Thank you.

It's not likely to be the postcode as this is the first inflated quote I've ever been given, and I have had 3 specialist cars at this address since 2007, but more likely eSure not keen on expensive BMWs on their books. The car came in over £75,000 before discounts and that triggered manual underwriters getting in on the act.

Any other suggestions on trackers and insurance providers/quotes gratefully received!! Thanks all.
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      10-07-2013, 03:13 PM   #5
dannym
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would the insurance pay out the full 75k or just what they think its worth at the time of loss i.e. book value?
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      10-08-2013, 04:45 AM   #6
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I was advised by several parties that the car value quoted to the insurance company must be the full invoice value including options before any discounts applied.

If you do this, in the event of a write-off, the insurance company would provide a like-for-like vehicle for the age and options included.

If you quote the discounted value as the value of the car, the insurance company could repudiate the claim altogether in the event of a write-off or provide a proportionately lower value (less the % under-valued)

So though my car is listed as £60,000 on the agreement after the £2500 deposit and the £15,000 discount; the invoice list value is £77,500 for insurance purposes.
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      10-08-2013, 06:09 AM   #7
dannym
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It's an interesting issue. This is what the help box on the insurance website says:

We've estimated the market value of your car, based on a few assumptions. If you agree with the value displayed, please continue with the quote. If you believe this value is incorrect please type in the correct amount before continuing. Your car will generally be valued at market rate in the event at the point of a claim where your vehicle is stolen or written off.

I guess that's why they sell gap insurance to make up the difference
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      10-09-2013, 04:32 AM   #8
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Interesting neither Admiral (who we were with at the time) or Aviva who we ended up with demanded a tracker or large premium :/ Both were happy to insure on similar basis to my previous cars.

The only reason we switched to Aviva was Admiral wouldnt extend our Multicar policy over two addresses which they had done previously. This year they insisted on no more then 49% time at the secondary address, which given my erratic schedule I couldnt commit to in Advance. However, Aviva worked out significantly cheaper anyway and didnt mind full cover at both addresses regardless of time spent at each.

The only thing I can advise is to ask them to call the actual underwriter while your on the phone. Given the complex nature of our insurance requirement, we always do this and they are generally much more ameniable to be flexible. It also ensures we are able to provide full disclosure directly, as personally I dont like to leave any room for ambiguity.
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      10-09-2013, 04:53 AM   #9
SpokenHands
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I appreciate all views here and thank you.

Mentos: what 'value' did you quote for the car: did you use list price with options, or discounted price?

I was dealing with a young advisor at eSure who did a double-take when I told him about the car value, and started talking about Rolls-Royce options which is about 4 times the cost; and while he did speak to the underwriter while i was dealing with him, said to me that 'eSure' is a low-cost insurance provider and tends not to deal with this range very often. They took 3 hours to generate a quote and had to call me back!!

SO I am going to look into Directline, Admiral and Aviva this week. Aviva has a compulsory £500 excess on expensive BMWs the last time i spoke to them.

Mentos: have you needed to have a tracker fitted?
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      10-09-2013, 10:51 AM   #10
SpokenHands
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Drama sorted.

I am now insuring my new 640d with Directline and do not need a tracker, paying half of what I had been quoted by my current provider eSure, and without any adverse excesses added on to my policy for all contigencies. I wish eSure just told me they didnt take on cars more than £40,000 on their books and saved me a lot of hassle.

My suggestion to any new UK-based owners with 5+ to 8+ years NC and good postcodes would be expect quotes in the £400/year area for a Group 49 banding (640d) and insure with the following to avoid hassle:
1. Directline
2. Admiral
3. Aviva, Tesco, etc.
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      10-09-2013, 02:03 PM   #11
dannym
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Excellent thats more like it! And was that for the full £75k?

Tesco and Admiral were the cheapest for me to with in a few pounds
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      10-09-2013, 03:24 PM   #12
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Yes for a 75k list price value, Directline quoted me an excellent deal.
Plus only insurer to replace new car in y1 if bought new.
Most other insurers simply replace like for like at book value.
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      10-09-2013, 03:36 PM   #13
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eSure insured me on my GC640d March 13 reg for £500 with no need for a tracker and also only a £200 excess. I'm 34...

Strange how they wanted so much from you??...
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      10-09-2013, 03:45 PM   #14
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Quote:
Originally Posted by Mud View Post
eSure insured me on my GC640d March 13 reg for £500 with no need for a tracker and also only a £200 excess. I'm 34...

Strange how they wanted so much from you??...
ESure were very strange indeed. Agent on phone kept muddling his quote and numbers, took 3 hours to work out a quote manually (rang me back).

Is you £200 a voluntary excess in addition to the £700 compulsory excess? Have they not bumped up all your excess on various clauses.

I am really surprised the tracker didn't come up - the moment I quoted the car value with options before discounts, you could hear alarm bells ringing in eSure Towers. Noted with interest that ESure won't cover theft protection for cars valued over £40,000 not fitted with a tracker.

Anyway happy to return to Directline
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      10-09-2013, 04:23 PM   #15
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£200 voluntary on all the various things plus £350 compulsory.
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      10-11-2013, 06:35 PM   #16
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Quote:
Originally Posted by SpokenHands View Post
I appreciate all views here and thank you.

Mentos: what 'value' did you quote for the car: did you use list price with options, or discounted price?

I was dealing with a young advisor at eSure who did a double-take when I told him about the car value, and started talking about Rolls-Royce options which is about 4 times the cost; and while he did speak to the underwriter while i was dealing with him, said to me that 'eSure' is a low-cost insurance provider and tends not to deal with this range very often. They took 3 hours to generate a quote and had to call me back!!

SO I am going to look into Directline, Admiral and Aviva this week. Aviva has a compulsory £500 excess on expensive BMWs the last time i spoke to them.

Mentos: have you needed to have a tracker fitted?
No tracker required by either my Admiral/Aviva, although some of the companies did ask for one. I think the lowest excess they offered was £250, but we usually opt for the £400/£500 mark as I wouldn't likely claim for something small, therefore prefer to save on the premium instead.
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      10-13-2013, 07:18 PM   #17
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paid £629 for mine from Tescos, but I am 30 years old so that probably pushed it up a bit.
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      07-17-2014, 09:25 AM   #18
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Just bought mine, it came to 1200 insured through admiral, not bad for being 23
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      07-17-2014, 02:30 PM   #19
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Got mine through Elephant, £380 but had to include business related travel, just normal cover it was £275 pa and £600 excess. I've got a 640 msport. Someone ran into the back of me while I was stationary at a red light, they have been excellent in trying to sort everything out. Car is drivable, phew!!
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      07-25-2014, 06:52 AM   #20
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That is atrocious.

UK insurance is such a joke. I'm 24 and pay $411 every 6 months for my 650iGC. They'd want $10K out of me in the UK.
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      07-25-2014, 12:44 PM   #21
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Quote:
Originally Posted by 2009328i View Post
That is atrocious.

UK insurance is such a joke. I'm 24 and pay $411 every 6 months for my 650iGC. They'd want $10K out of me in the UK.
very very jealous...
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      07-25-2014, 03:33 PM   #22
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The cheapest quote i could find for a used 640d was £1,800 with a £1,000 excess
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