Car Insurance M2 / M240i

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HN1989x
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Car Insurance M2 / M240i

Post by HN1989x » Wed Feb 07, 2018 2:08 pm

How much does everyone pay for insurance on the above cars?

I've just gotten a quote from my insurer for my new car and they want £1072 from me :shock:

I was expecting an increase but not almost quadruple the price of my current insurance!!

I'm 28 with 7 years NCB and I live in London.

Bmw_ire_2012
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Re: Car Insurance M2 / M240i

Post by Bmw_ire_2012 » Wed Feb 07, 2018 2:22 pm

£1200 a Year, however my car is highly modified from standard and a high spec.
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Re: Car Insurance M2 / M240i

Post by Jcarr18322 » Wed Feb 07, 2018 8:25 pm

Last year with home insurance, car insurance on both me and the Mrs car (mine was a 240i hers a fiesta) named drivers on each other's it was £750. This year exactly the same except mine is now an M2 £840 for the year. Last year was a multi policy offer from admiral but this year they wanted nearly £1200. Shopping around got us to the £840 total but home insurance and car insurance are with different companies now.
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HN1989x
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Re: Car Insurance M2 / M240i

Post by HN1989x » Thu Feb 08, 2018 9:59 am

Bmw_ire_2012 wrote:
Wed Feb 07, 2018 2:22 pm
£1200 a Year, however my car is highly modified from standard and a high spec.
Did you ever get a quote without the mods?
Jcarr18322 wrote:
Wed Feb 07, 2018 8:25 pm
Last year with home insurance, car insurance on both me and the Mrs car (mine was a 240i hers a fiesta) named drivers on each other's it was £750. This year exactly the same except mine is now an M2 £840 for the year. Last year was a multi policy offer from admiral but this year they wanted nearly £1200. Shopping around got us to the £840 total but home insurance and car insurance are with different companies now.
£840 isn't bad. Who are you insured with?

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Re: Car Insurance M2 / M240i

Post by Bmw_ire_2012 » Thu Feb 08, 2018 10:05 am

HN1989x wrote:
Thu Feb 08, 2018 9:59 am
Bmw_ire_2012 wrote:
Wed Feb 07, 2018 2:22 pm
£1200 a Year, however my car is highly modified from standard and a high spec.
Did you ever get a quote without the mods?
I didn't no, I think £1200 it very high myself but it was the best I could get.
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CynicalRobot
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Re: Car Insurance M2 / M240i

Post by CynicalRobot » Fri Feb 09, 2018 2:05 pm

See if you can add anyone on as a named driver who is older than you, say 40+.

You will still be listed as the main driver.

I hear stories of people doing this and it bringing down their premium massively.
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.Griff.
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Re: Car Insurance M2 / M240i

Post by .Griff. » Fri Feb 09, 2018 2:09 pm

£340 protected no claims.

As we're all unique, with so many variables, and all live all over the UK asking what people pay for insurance is never an exact science.
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Re: Car Insurance M2 / M240i

Post by RA23 » Fri Feb 09, 2018 2:15 pm

Although I have no knowledge of this, I've also heard of people taking out the highest possible excess they can and then covering that excess (paying small monthly amounts) with a 3rd party company if that makes sense. This of course lowers your policy because of the high excess. I am sure people on here can elaborate on what I am saying :)
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Re: Car Insurance M2 / M240i

Post by GeoffCollins » Fri Feb 09, 2018 2:52 pm

.Griff. wrote:
Fri Feb 09, 2018 2:09 pm
£340 protected no claims.

As we're all unique, with so many variables, and all live all over the UK asking what people pay for insurance is never an exact science.
Couldn't agree more, I'm only 23 and mine is £600 on my M135i
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Re: Car Insurance M2 / M240i

Post by Jcarr18322 » Sun Feb 11, 2018 11:50 am

Jcarr18322 wrote:
Wed Feb 07, 2018 8:25 pm
Last year with home insurance, car insurance on both me and the Mrs car (mine was a 240i hers a fiesta) named drivers on each other's it was £750. This year exactly the same except mine is now an M2 £840 for the year. Last year was a multi policy offer from admiral but this year they wanted nearly £1200. Shopping around got us to the £840 total but home insurance and car insurance are with different companies now.
£840 isn't bad. Who are you insured with?
[/quote]

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Re: Car Insurance M2 / M240i

Post by Mike_N55 » Mon Feb 19, 2018 2:15 pm

I suspect a symptom of the postcode lottery - I used to live in Birmingham then moved outside of the city limits and my premium dropped by ~40% :shock:
Have heard some success stories with the ‘adding Mum on’ tactic but would definitely use any associated insurers via the forum if they’re offering discount. Make sure you’re not over-egging your mileage too.

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Re: Car Insurance M2 / M240i

Post by robsta555 » Mon Feb 19, 2018 2:45 pm

M2 LCI with 2 years NCB, 3 points, 41 years old and based in Herts is just over £1000 with esure.

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Re: Car Insurance M2 / M240i

Post by HN1989x » Tue Feb 20, 2018 3:38 pm

.Griff. wrote:
Fri Feb 09, 2018 2:09 pm
£340 protected no claims.

As we're all unique, with so many variables, and all live all over the UK asking what people pay for insurance is never an exact science.
Of course. I am just comparing the crazy increase from my current cars to the M2.

BMW 116i SE - £265 p/a
Audi A5 3.0 TFSI - £420 p/a

There just seems to be no logic behind how they have arrived at this price, considering the A5 is a bigger car, same size engine and just slightly less HP.
Mike_N55 wrote:
Mon Feb 19, 2018 2:15 pm
I suspect a symptom of the postcode lottery - I used to live in Birmingham then moved outside of the city limits and my premium dropped by ~40% :shock:
Have heard some success stories with the ‘adding Mum on’ tactic but would definitely use any associated insurers via the forum if they’re offering discount. Make sure you’re not over-egging your mileage too.
I've set my annual mileage to 5k p/a as I don't do much more than that each year. Last year I only did 2706 miles but I plan on getting my RIS done as soon as poss so have planned a few long distance trips.

BMW Insurance/Allianz outright refused to insure me. :o
robsta555 wrote:
Mon Feb 19, 2018 2:45 pm
M2 LCI with 2 years NCB, 3 points, 41 years old and based in Herts is just over £1000 with esure.
esure quoted me almost £3k. :(

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Re: Car Insurance M2 / M240i

Post by Japper69 » Tue Feb 20, 2018 3:43 pm

HN1989x wrote:
Wed Feb 07, 2018 2:08 pm
How much does everyone pay for insurance on the above cars?

I've just gotten a quote from my insurer for my new car and they want £1072 from me :shock:

I was expecting an increase but not almost quadruple the price of my current insurance!!

I'm 28 with 7 years NCB and I live in London.
I pay £380 each for the M2 and M140i but 4K miles on M2 and 15k miles on M140i both including business use for half that mileage. This is with one year NCB as been out of country for previous 6 years.
M140i 5dr Manual, white - 'The van'
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HN1989x
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Re: Car Insurance M2 / M240i

Post by HN1989x » Tue Feb 20, 2018 4:02 pm

Japper69 wrote:
Tue Feb 20, 2018 3:43 pm
I pay £380 each for the M2 and M140i but 4K miles on M2 and 15k miles on M140i both including business use for half that mileage. This is with one year NCB as been out of country for previous 6 years.
That is very low! Who are you insured with? I can't seem to find anything cheaper than £1k!

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