As per title, I've had a right headache trying to find insurance on my M2, most mainstream insurance companies won't even ensure the car full stop, regardless of my age and my proud driving record as well as 20+ years no claims. Now get this, one insurance company would ensure the car even if I went ahead with an ECU remap as long as it was no more than a 10% increase but as soon as I told then I've had the roof wrapped the underwriters didn't want to know figure that out! I even declared that I have had dealership options such as my carbon trim accessories, those of you who have seen my car on here will know, even the M performance exhaust I've had fitted as deemed as a modification according to some underwriters. When I filled out the on line forms the mods list seems to unambiguous for me, how do you define a mod fitted to your car, is it from the dealership or third party? Four insurance companies did agree to ensure my M2 but they wouldn't replace like for like so for example they would replace the exhausts with the stock set and in turn would leave me out of pocket. All this experience has really surprised me. I have had to go to a specialist ensurer that deals in performance cars in which only seven came up. I am already bracing myself for renewal in 2018 as it looks like for as long as I own the M2 it's going to be these types of insurances I'll need to turn to. Have any of you been faced with this dilemma before? Oh and by the way I have a 14 day cooling off period so if any of you can recommend a particularly ensurer and I haven't checked them out then I will.
Too many to mention fella, I've done the usual go compare search, u switch, confused.com and it's thrown up loads of insurance companies and most of them won't ensure the vehicle with the mods I've had fitted, they would ensure the vehicle with stock parts but that's about it, then as you know the further down you go the more expensive it becomes, I've had up to £3,000:doublesho.
Insurers (and manufacturers) are just getting less tolerant of modified cars full stop. It's being guilty by association unfortunately that you are now reckless and going to speed through towns and do donuts in McDonalds, and as such they make it difficult for you to be insured.
It's all stemmed the amount of lowered, altered and remapped (VW group and BMW cars especially) that get taken back for warranty work (when the owners have not declared them) and then try to make out that the car is now a warranty issue as it's 'standard'
Lots of people don't declare mods for the issues you are finding or for the costs involved..
Insurers (and manufacturers) are just getting less tolerant of modified cars full stop. It's being guilty by association unfortunately that you are now reckless and going to speed through towns and do donuts in McDonalds, and as such they make it difficult for you to be insured.
It's all stemmed the amount of lowered, altered and remapped (VW group and BMW cars especially) that get taken back for warranty work (when the owners have not declared them) and then try to make out that the car is now a warranty issue as it's 'standard'
Lots of people don't declare mods for the issues you are finding or for the costs involved..
One of the insurance companies that sponsors the Babybmw site will not offer insurance to first time RWD drivers at the moment. They've been telling guys that their underwriters just won't accept it.
The M135/140i is one of the cheaper performance cars on the market at the moment due to PCP deals. I've a horrible feeling that claims are going through the roof due to amount of young guys jumping right in 320bhp+ cars and running out of talent.
Out of interest I just ran a quote for the M2 to see that I got. I'm getting quotes of £223, which is less than what the M235i is.
This insurance profiling works very strangely. There's obviously something in your profile that is harming you.
One of the insurance companies that sponsors the Babybmw site will not offer insurance to first time RWD drivers at the moment. They've been telling guys that their underwriters just won't accept it.
The M135/140i is one of the cheaper performance cars on the market at the moment due to PCP deals. I've a horrible feeling that claims are going through the roof due to amount of young guys jumping right in 320bhp+ cars and running out of talent.
Out of interest I just ran a quote for the M2 to see that I got. I'm getting quotes of £223, which is less than what the M235i is.
This insurance profiling works very strangely. There's obviously something in your profile that is harming you.
Try 1 Answer
REIS
Henderson taylor
A plan
All were very MOD friendly for my Lotus's one which had been converted to an Audi engine the other had a Honda engine from a CTR modified to about 350 with a jackson Supercharger.
When I watching these YouTube bloggers some are paying 4K. Schme150 said in a previous video his insurance is a 5-6 figure sum but he has millions worth of cars
Glad i didnt go down the M2 route now, think it cost me an extra tenner a month, do about 400 a year. I am the best part of 50 so you would think it would be less but i live in a dodgy area of a dodgy town, police helicopter over our flat most nights, parked on the road etc so i think i got off lightly to be fair.
Watch get royally fleeced when the renewal comes up now :lol:
had to do a quote out of curiosity, got a quote from my insurer for a M2 - £842, 30 year old with 5 years NCB and parents on as well and area is the lowest risk for insurance
if only i was in a position to be able to afford one :lol:, lovely looking car. This was just under my own insurer as they have been the cheapest more or less for several years now on both the Fiesta ST (£263) and the little mk6 diesel (£303). Just went through comparethemarket and the M2 came out at £477 with a 600 excess which surprised me
All sounds good Christian £477 that's until you delve deeper and start declaring mods or even dealership fitted options and then it all starts to go Pear shaped. I have now learn't that performance car specialist insurance is the way to go. Thanks for the kind comment by the way. £477 is basically factory spec and how many M2 owners are really not going to mod their cars up? especially with a tunable engine :thumb:
All sounds good Christian £477 that's until you delve deeper and start declaring mods or even dealership fitted options and then it all starts to go Pear shaped. I have now learn't that performance car specialist insurance is the way to go. Thanks for the kind comment by the way. £477 is basically factory spec and how many M2 owners are really not going to mod there cars up? especially with a tunable engine :thumb:
very true, shame they cant make it as simple as and extra box on the quote to quantify the cost of mods and dealer fit accessories and take that into consideration when pricing. I had to check when i got the ST what was and wasn't a modification in their opinion as the tick boxes were some what vague. The clear lens indicators to get rid of the fried egg look had to be declared but the shorter aerial so i can get it in and out of the garage didnt... its a crazy world as dont think if anything bad happened to the the car id be chasing the cost of either as it probably is less that £40.
Insurance is shocking now i have 20+ years no claims no points no mods only a Focus Zetec and my insurance is £550.
Your lucky you dont live in Northern Ireland.
Just renewed this evening for £1600 on a 30 year old with 2 years NCD on the mazda far better than aviva who suddenly bumped my premium from a £150/month to £470 after a no-fault accident.
Check your profile, certain jobs throw you out, e.g. Working in the automotive world, transport, catering or service industry etc.
Civil service and certain office jobs give you a better and easier quote.
The quote you have is not bad, but have a look at a company called "original" they guarantee that in case of an accident everything is replaced with original parts.
I get decent quotes every year.
Check your profile, certain jobs throw you out, e.g. Working in the automotive world, transport, catering or service industry etc.
Civil service and certain office jobs give you a better and easier quote.
The quote you have is not bad, but have a look at a company called "original" they guarantee that in case of an accident everything is replaced with original parts.
I get decent quotes every year.
I've checked out Original and one of the criteria you have to meet is to not have your car modified, it goes completely against my gripe with these insurance companies.
+1 for keith michaels, but you have to speak to the right guy.
One guy there, cant remember his name ( but specialised in Subaru insurance) insured me on my forester sti (jap import) with all mods declared and a like for like replacement and it was only £450 a year. This included Tein electronic adjustable coil overs, performance remapped and exhaust, intercooler and turbo upgrades, and bigger race spec brake upgrades. But when it come to switching to my audi s4 cabriolet it went up to over £1000 for a quote. so changed to direct line who quoted £320 for it.
What i did find with Keith Michaels, was you had to speak to them direct rather than submit an email enquiry and that could be easier said than done.
Speaking of insurance
Ive just got the renewal for my wife on her car, shes (not gonna thank me) 52, 20+ years of driving, 12+ years ncb, the car is an unmodified 2015 toyota aygo 1.0 excite value about £8500, parked on a locked driveway covered by cctv, shes a housewife and does less than 5000 miles a year. Last year she paid £229 (inc monthly installment fees basically it was just continued from her previous vehicle) the renewal from "More than" was £395! So some online searching and I've got it down to £195. I think there was one insurance company at the bottom of the page was happy to quote £5200 per year!
I am going to spend the entire morning speaking to:
Adrian flux
Keith Michaels
Footman James
Sky insurance
A-Plan
And see if they can better the £635 from performance direct. I'll let you know how I get on later today.
With mods, it doesn't matter if they are dealer parts...If they were fitter after leaving the 'Production Line' then its a mod.
I bought a Clio with loads optional extras on, I though they were there from factory...turns out they were fitted afterwards and are classed as a mod. Had to ring Renaut to get the original options list for the car to find out what was what.
+1 for REIS, very good with mods, but may not cover an M2 as they tend to steer towards track cars, but they did an excellent price for my Elise with many mods.
The main thing to ensure when taking out insurance is to ensure you know how much it is going to cost to insure the car you want to ensure you are able to drive.
£630 including with £150 excess, legal cover up to £100,000, windscreen cover, courtesy car, protected NCB and roadside assistance and they will replace like for like in an event of an accident, they have given me 5% discount on my dash cams also so all in all I an satisfied. I will make a note of all those other insurers that you guys have listed in readiness for 2018 renewal.
£630 including with £150 excess, legal cover up to £100,000, windscreen cover, courtesy car, protected NCB and roadside assistance and they will replace like for like in an event of an accident, they have given me 5% discount on my dash cams also so all in all I an satisfied. I will make a note of all those other insurers that you guys have listed in readiness for 2018 renewal.
Glad you got it sorted, next year will be better as you will have owned the car for a while, and this makes a noticeable difference high performance motors.
Out of interest, which insurance company did they put you with?
I've found it really difficult to declare mods to cars as some of the people you speak to just don't have a clue what stuff is and what it does.
I gave up trying to declare a DTUK pedal box on the Golf R as every single person I spoke to wanted to put it down as a power upgrade. It wasn't, it does nothing for the power of the car. It just adjust the throttle responsiveness. They couldn't understand so I gave up.
I managed to declare the extra power for the DTUK Tuning Box. The only way that was possible was to pay £26 for 25% more BHP. It's not listed as a specific modification, just a 25% power increase.
Reminds of a convo I had many years ago when I was declaring a stainless steel dump valve that replaced a plastic broken one.
"We don't cover cars with dump valves, sorry, we'll have to cancel your policy"
"You've covered me for three years while the car had a standard dump valve?"
"If we'd known the car had a dump valve we wouldn't have covered it"
"It's always had a dump valve since it left the factory"
"Sorry"
"So what's the situation if I get a new factory fit dump valve and fit that?"
"You've told us it has a dump valve so that's on file and we can't cover you any more"
"It's always had a dump valve since it left the factory"
"Sorry"
This went round in circles for some time then I gave up
I was not aware of this Alfie, I will give them a call and find out. :thumb:
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