M4 insurance at 26

[Agm2992mga]

I've run so painfully many quotes to get insurance on an M4.

All coming back in excess of £2k+

Can't get my head around it as I'm sure people with worse credentials than mine are getting far cheaper quotes without problem in comparison.

26 years old. No claims. 8 year NCD. Coming from BMW M140i. No convictions - clean licence.

Any help greatly appreciated :|

[whp1983]

I had e92 M3 at your age.... (few years ago now!) went with Axa £800 a year with £5k excess, limited to 8000 miles a year.

Essentially they’ll cover you for total loss and not much else at that age. Just hold excess in bank account and job done!

[Brainpox]

The only insurer that covered me for sensible money when I had an M2 at 27 was LV. I found getting a quote directly through their website saved a decent chunk over comparison sites, too.

[Agm2992mga]

£5,000 excess
I hadn't considered setting excess that high to be honest.

Currently, I have mine around £500 total excess, with only a small voluntary to contribute to that. And my BMW M140i insurance has been very reasonable at that: £500-£900 has been the fluctuation of premium since ownership. (I've actually negotiated it down significantly this year).

Is having such a high excess really a good idea? I could probably get quotes down to ca £1,300 for year with £1,400 total excess (the max allowed to enter on comparison sites). Is this what people tend to do with these cars and I just wasn't aware?

[russy01]

I’m 30, 10yrs ncb, parked outside in a rural area and pay £580 with £500 excess.

Is it an safety/theft issue or price?

[Eddieslofart]

Put your Mum/Dad on as a named driver.

[Agm2992mga]

This is with named drivers, unfortunately. £3k+ without them...

[djc206]

Agm2992mga said:

£5,000 excess
I hadn't considered setting excess that high to be honest.

Currently, I have mine around £500 total excess, with only a small voluntary to contribute to that. And my BMW M140i insurance has been very reasonable at that: £500-£900 has been the fluctuation of premium since ownership. (I've actually negotiated it down significantly this year).

Is having such a high excess really a good idea? I could probably get quotes down to ca £1,300 for year with £1,400 total excess (the max allowed to enter on comparison sites). Is this what people tend to do with these cars and I just wasn't aware?

I never did it. Is where you live the problem? It’s not necessarily about living somewhere rough but if the local area has been hit with claims or thefts that could be an issue?

For reference I had an RS5 at 25 which was less than £1k to insure with an at fault claim two years previously. I bought an RS4 at 27 and that was £350! I’m sure the excess was only £500-600.

[Agm2992mga]

djc206 said:

I never did it. Is where you live the problem? It’s not necessarily about living somewhere rough but if the local area has been hit with claims or thefts that could be an issue?

For reference I had an RS5 at 25 which was less than £1k to insure with an at fault claim two years previously. I bought an RS4 at 27 and that was £350! I’m sure the excess was only £500-600.

Did you name any drivers on tactically?

This is the thing - I cannot understand where the sticking point is. I've played around with various postcodes eg current address and previous ones just to gauge an insight if it is my area now but the premiums are bad at all of them
Living in Manchester presently.
Could you give me an example postcode from near you that I can try for argument's sake as well then?

[djc206]

Agm2992mga said:

Did you name any drivers on tactically?

This is the thing - I cannot understand where the sticking point is. I've played around with various postcodes eg current address and previous ones just to gauge an insight if it is my area now but the premiums are bad at all of them
Living in Manchester presently.
Could you give me an example postcode from near you that I can try for argument's sake as well then?

I had my girlfriend named on them but it wasn’t really tactical it was practical.

My old one was SO31 1EG

Doesn’t Manchester generally have a bit of a problem with performance car theft?

[Theone8181]

Fwiw when I was 24 I insured a 996 911 (bet with me on this). It was 10 years ago but I'm sure the most unpaid was 1200 and I'm sure that was only a 500 quid or so excess. I seem to remember adding my mum on to it actually made it go up by 600 quid for some reason. I'd have thought you'd be able to get it under 2k with a 500 excess. Is it just you and your girlfriend in it? My postcode is hu17 9uw if you wanted to test that one with your details.

[Evanivitch]

Try some silly things on the configuration, like parking on street or on driveway. Sometimes it makes a big difference to the theft risk even if the damage risk is increased.

[Agm2992mga]

djc206 said:

I had my girlfriend named on them but it wasn’t really tactical it was practical.
My old one was SO31 1EG
Doesn’t Manchester generally have a bit of a problem with performance car theft?

Thank you for sharing area. I was only able to get a quote for around £1,400 there - obviously less but not as low as you indicated.

Theone8181 said:

Fwiw when I was 24 I insured a 996 911 (bet with me on this). It was 10 years ago but I'm sure the most unpaid was 1200 and I'm sure that was only a 500 quid or so excess. I seem to remember adding my mum on to it actually made it go up by 600 quid for some reason. I'd have thought you'd be able to get it under 2k with a 500 excess. Is it just you and your girlfriend in it? My postcode is hu17 9uw if you wanted to test that one with your details.

Thanks as well for sharing. Testing here was around £1,400 too.

Evanivitch said:

Try some silly things on the configuration, like parking on street or on driveway. Sometimes it makes a big difference to the theft risk even if the damage risk is increased.

Thank you - I assure you I've fiddled and tweaked like mad already to get to the perfect recipe of permutations as is. Just still so bleeding high but I think I have found the cheapest magic combination so far.
Maybe it's just M cars in particular. I'll have to test with a C63 or something and report back.

This is doing my head in unfortunately - the prospect of having to pay another £1,500+ for a year's insurance over the premium for car I drive now. For reference too, my current insurer (Hastings) won't even quote for that change of vehicle M140i -> M4.

[djc206]

Must just be “inflation” since I was in that position! I guess the RS4 and 5 were at least 4wd so a bit harder to stack than an M4, sure that helped.

[Agm2992mga]

djc206 said:

Must just be “inflation” since I was in that position! I guess the RS4 and 5 were at least 4wd so a bit harder to stack than an M4, sure that helped.

Think I must just be doomed with these premiums...! Dare I go for a very high excess..?

[usn90]

surely the m4 must have bad theft stats stacked against it maybe?

I’m 28 and insure a F355 for £700, just on the outskirts of having the M postcode myself

[ricisbest]

I'm mid/late thirties in SK9 postcode (car kept garaged), with 9 years NCB. I bought a used M4 comp pack earlier this month: https://www.pistonheads.com/gassing/topic.asp?h=0&...

My previous insurer quoted me nearly £2K but managed to get it for about £700 fully comp with Admiral on a multicar policy (with a few hundred quid excess)

[Andy M]

Agm2992mga said:

I've run so painfully many quotes to get insurance on an M4.

All coming back in excess of £2k+

Can't get my head around it as I'm sure people with worse credentials than mine are getting far cheaper quotes without problem in comparison.

26 years old. No claims. 8 year NCD. Coming from BMW M140i. No convictions - clean licence.

Any help greatly appreciated :

Do you have a tracker fitted? Many insurers now won't insure without one.

Try: https://www.bmw.co.uk/finance/insurance/car-insura... They were remarkably competitive on the insurance for my M5 Comp (however a tracker was required).

[Michaelbailey]

I believe Beemers are notoriously expensive to insure. Audi S4 at 22 cost me £675. I had a quote on an audi R8 and an Aston martin V8 vantage for around 1000 and 1100 respectively. 2k seems extortionate at 26 to me

[Michaelbailey]

ricisbest said:

I'm mid/late thirties in SK9 postcode (car kept garaged), with 9 years NCB. I bought a used M4 comp pack earlier this month: https://www.pistonheads.com/gassing/topic.asp?h=0&...

My previous insurer quoted me nearly £2K but managed to get it for about £700 fully comp with Admiral on a multicar policy (with a few hundred quid excess)

Small world im SK2... I believe stockport is a very cheap area to insure surprisingly. any M postcode is ridiculous. I have a co-worker who lives in Chorlton and he pays 1500 ish for a modded civic at 26. Most expensive post code in Britain I believe his is.