Londoners - what’s you insurance premiums for M3?

[Blueskye]

£1,783 oh my the price of insurance is brutal for you under 30’s. Given the premium level it’s presumably unlikely that the policy holder would make a “minor claim”, as no doubt the excess will harsh and you wouldn’t want to lose your NCD except for an extreme claim I guess.

It is brutal... did you miss the part where it originally was £2550? !!
I’m crying in advance for next year that I won’t have the black box discount no more!

 

[Blueskye]

Other factors to consider to help lower your premium include:
Add your bride as a named driver
Choose parked on drive rather than garaged overnight
Buy your policy around 21 days pre renewal (optimal time apparently)
Job description is critical
I'm sure most of you knew that already!

Why is a secure garage worse than drive?! that makes no sense!
Or am I missing something?

I live in a block... so can’t really say on a drive ​

 

[MrBadger]

also the insurance prices started going up noticeably for the M3 (and others?) after September 2019 so I am expecting a significant increase at renewal.

Ours came down slightly (comparing daily pro rata figure), but only because I haggled it back down which I have to do on several things. On renewal It was previously up more than I would have liked, but not by a huge amount. Unusually for Direct Line, it took 2 phone calls to get them to shift so the first guy was playing hard ball.

 

[Blueskye]

I'm in London zone 2 (NW3) and paying £928 a year with Churchill. The Model 3 LR is my first car and I have zero no claims bonus so that's not likely to have helped, although I'm not in my 20s so that might have helped.

Woah! That’s some policy!
I live in zone 4... east.. I think e east part doesn’t help as ppl do know how to drive here!
But I’ve run a quote yesterday on some comparison site and it came at like £3000+ and a compulsory excess of £1K!!!!

you won’t believe it but there was one lesser known (to myself) insurer that wanted £12.5K plus a 3K compulsory excess!!!! (Yes. You read it right. £12,500.00!!!!!!)
I didn’t know I was insuring a private jet and a yacht together... just my Tesla!

 

[Blueskye]

Move further north ... mine was £230!

That can’t be true.... or... can it?

 

[Blueskye]

Ours came down slightly (comparing daily pro rata figure), but only because I haggled it back down which I have to do on several things. On renewal It was previously up more than I would have liked, but not by a huge amount. Unusually for Direct Line, it took 2 phone calls to get them to shift so the first guy was playing hard ball.

I’ve had 2 calls with direct line which usually were fantastic at price matching and discounts... but this time they weren’t moving...
They said that I got the Max discount available so I guess that was it... but I don’t know...
Will try some other comparison sites and see...
But so far it seemed that DL was the cheapest by far after the discount.... and my policy renews on 16/5 so still some time left I guess...

 

[Mr H]

Move further north ... mine was £230!

Sorry but i have to balance cost with sunshine

 

[Mr H]

Mr H I’m despising your premium right now. (They need to add a crying emoji because that’s what I’m doing right now! )

but on the funny side... I do spend quite a bit of time up north..

If you put an elderly relative on that helps quite a bit, obviously they need to have a clean driving record

 

[TheManofMead]

Why is a secure garage worse than drive?! that makes no sense!
Or am I missing something?

I live in a block... so can’t really say on a drive ​

I'm told people often have 'accidents' resulting in claims going into/out of their garage. With large cars and small entrances (especially on single garages) I can understand the reasoning.
Like you my thought had always been secure in a locked garage must be better, but apparently not. Maybe becuase cars tend to have such good security these days, so tend not to get stolen then the "crash into the garage" risk is higher than the theft risk...or maybe someone more knowlegeable in the industry can tell us...

 

[Adopado]

That can’t be true.... or... can it?

Well the truth is that the quote I had at the end of July was originally £216 and only went up to £230 when I had to refresh the quote on the phone because more than a month had passed when I actually picked up the car (early September 2019). This was through Churchill for a SR+. Others were getting prices in the same ball park last summer but there was a rapid change later in the year so I'm not expecting to renew at a similar price.

 

[Godsense]

Is this maybe down to insurers having a better idea of repair costs etc now?

 

[zayn]

what is your post code OP ?

 

[Russinating]

Im a director too and can never find my field as one in the sites... have to decide which one of a few I need to tick! maybe we’re in the same field?? ​

Video production here. Sometimes Film Producer or similar is listed but even that's not accurate. In the past they've listed me as a Photographer because that's the closest they could get. Else it's a pick between all the Company Director ones and their subs "Art/Design/Fashion", "Sales/Marketing", "Proprietor", "Owner" etc which always seem to work out better and come with business use as standard with Direct Line and others.

 

[Chalks99]

Hi everyone!
Looking for comparables on insurance premium...
Just coming up for renewal on my previous Direct Line insurance and just wanted to see if it’s comparable to others.
I had a small car previously, and had a telematics policy which bagged me a 30% discount...
So I’m under 30 but over 25 ... 4 years NCB, live in zone 4... no kids..6K-8K miles on policy and I was quoted £1783 (after discount.. before discount was a whopping £2550).
Quite a good and responsible driver, since I’ve bagged myself the max discount available... but I feel like the insurance is really high without the discount...
Heard of many people mentioning premiums of £600-£800

Also... deductible was their standard £500.
No voluntary excess chosen..

what do you guys think are these quotes a good deal?

not sure if it matters but the car is SR+ no FSD, 20 plates.

What are you paying?

M3P South Birmingham 52 YO, 10 years NCD, clean license £540 with LV (+ ALA Gap Insurance which works out at £50 per year)

 

[Blueskye]

I'm told people often have 'accidents' resulting in claims going into/out of their garage. With large cars and small entrances (especially on single garages) I can understand the reasoning.
Like you my thought had always been secure in a locked garage must be better, but apparently not. Maybe becuase cars tend to have such good security these days, so tend not to get stolen then the "crash into the garage" risk is higher than the theft risk...or maybe someone more knowlegeable in the industry can tell us...

It actually makes sense now that I’m thinking...
Mine is an underground car park so not exactly narrow entrance but not a drive either...

 

[Blueskye]

M3P South Birmingham 52 YO, 10 years NCD, clean license £540 with LV (+ ALA Gap Insurance which works out at £50 per year)

Definitely very different age range and NCD...
That’s some good policy on you.

making myself happy by justifying to myself that you had £2,000+ quotes in you late 20s- early 30s too (I know u didn’t...coz money were different back then.. just don’t tell me. Let me prosper in my blissful ignorance!)

 

[Chalks99]

Definitely very different age range and NCD...
That’s some good policy on you.

making myself happy by justifying to myself that you had £2,000+ quotes in you late 20s- early 30s too (I know u didn’t...coz money were different back then.. just don’t tell me. Let me prosper in my blissful ignorance!)

I've been fortunate with insurance costs, my previous ICE cars include Maserati Ghibli S, C63 AMG, Audi RS3 and a fantastic BMW 335xD and I can't remember paying over £600 (but I was over 35 when I started my passion for 'proper' cars with decent NCB and no points) for any of them, I really think though that they've got you over a barrel in London as far as costs go. I do worry for the future costs though as they seem to be getting disproportionately high on EV's (especially Tesla's) but hopefully, as parts become more available and options to repair increase, then the price will come down.