Insurance Premiums

[asimmalik]

As most of us will probably know, insurance premiums have increased across the board recently. It would seem however, BMWs have been affected worse than most.

I'm currently on the lookout for another BMW to add to the fleet. I'm currently with a specialist insurer as it works best for me with my Jap-mobile & they have always been very competitively priced even for my BMWs in the past. On enquiry, I was told within a few seconds that they were no longer covering BMWs due to their incredibly high rate of claims compared to other brands. He quoted something like 25% of BMWs they had covered in the last year had resulted in a claim, compared to 5-10% for the vast majority of others.

I took his comments with a pinch of salt and went to try the usual comparison sites, the results of which were rather eye watering. I decided to compare my quotes for the BMW with a Mercedes of similar age, a C class rather than a 3 series etc. The Merc is in group 39 compared to 29 for the BMW and is returning slightly cheaper quotes than the BMW. A 3 series in group 40 is returning 40-50% higher quotes than the aforementioned Merc. I know there's more to insurance quotes than just the insurance group but the results were shocking to me.

So it turned out he wasn't talking rubbish, BMW's really have been hit hard.

[DJMC]

asimmalik said:

So it turned out he wasn't talking rubbish, BMW's really have been hit hard.

...if they've been hit hard the damage will be more severe and the repairs will be more expensive, hence the increase.

[asimmalik]

DJMC said:

...if they've been hit hard the damage will be more severe and the repairs will be more expensive, hence the increase.

I see what you did there...

[sortedcossie]

The constant stream of them being stolen is the issue.