03-20-2016, 04:19 AM | #1 |
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UK insurance for Competition Pack car?
I'm having a problem sorting out acceptable insurance for a CP M5. I was supposed to have collected the car (an AUC) on Friday, but haven't yet as I've not sorted out insurance beyond the complimentary 7 day period.
On the web sites, I have a choice of the following:
I have been selecting "M5 COMPETITION" and am being quoted around £1000 with £600 or more excess. Most insurers decline to quote because of the type of car, or the lack of tracker, some even want a nannying "black box" to monitor my driving. However, I'm being quoted £395 with a £100 excess for a standard M5 with the same declared options and no tracker. When I select the car is a Jahre, again with options, the quote is £475 with £210 excess, again without a tracker. If I say the car is as the M5 with declared options and say it also has a 0-10% BHP increase and lowered suspension, the quote is £445 with £210 excess which is around the sort of amount I was expecting and prepared to pay. Therefore, what are other people selecting? I want to make sure I'm doing this right as cannot afford to have invalid insurance, but similarly insurers rip us off, so I don't want to be paying more than I have to. Is the "M5 COMPETITION" they list actually the competition pack, or is it another limited special edition like the Jahre and M5 M Performance Edition as this currently makes no sense to me? |
03-25-2016, 04:17 PM | #3 |
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I have 2014 CP and insured with Admiral, they may be worth a try.
I pay slightly less than £500 per year but have tracker fitted, max no claims and I am in late fifties age group. Also limit mileage to 8000 per year, keep in garage etc. which all may help to keep cost down? Best to get a quote with and without tracker as the annual cost of tracker may well be more than the difference you pay in the insurance premium. The cars V5C will state the car is 'M5 Competition' (at least mine does) and when you quote the reg. number to Insurance Company this will automatically be flagged up so there would be no way of getting quote for something other than that specific vehicle. |
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03-26-2016, 07:41 AM | #4 |
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Sorry for the lack of update. A broker came through with a quote for £424 on Thursday morning. I phoned the dealer and they had sold the car I was looking at.
One positive is that I now know I can get the insurance for a reasonable price, so whilst I'm not specifically looking for a CP car, if one comes up with all the options I want, I will be straight over to see it. |
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