RoShamBo

iTrader: (1)

My wife just bought a new car and I have taken on her old car - a lovely 1999 BMW E36 Cab 323i - as a project / 2nd car - need a bit of work etc. Market value around £1,000
I own and run my own car and this would be a second sunny day car, so low annual mileage etc.

Just tried to insure it and the quotes I am getting are £800 + ! More than I pay for my current BMW X5 which is way more valuable etc.

I have a 3 pointer CU80 from 2011 so cannot believe that bumps it up. I'm 44 and the car is worth less than a grand !

My current policy on my current car does not allow multi-car, so effectively taking a new policy with 0% NCD (have 15 years on current car but cannot use that in any way for this second car)

That's the only thing I can think is bumping it up so high ?

Any thoughts / ideas ? Move to a multicar policy with a new insurer ? Are there any specialist insurers out there that do low mileage 2nd car type policies ?

Any help appreciated !

Cheers

Ro.

davyboy

I've been through this.

Could you get it on a classic car policy? I did this with my 944 turbo, and was less than £300 a year.

stilover

Think it's because it's worth soo little, that they expect you not to give a f*ck about it, and bash it about.

RoShamBo

iTrader: (1)

Just bumped up the car value quite a bit and quote was higher.
I have also changed the NCB to 10 years, reduced the annual mileage, even done a 3rd party fire & theft quote - none of that makes virtually any difference (the 10 years NCB knocked it down to £500 a year)
I was just trying to see what was making it so high. Really, 44 years old, car worth less than a grand.....I am priced out of the market. God help my 16 year old when she comes to insure a car !

Different companies class "classic cars" in different ways - none I have spoken to class a 99 Bmw as a "classic"

Ro.

davyboy

I used these:

http://www.classiclineinsurance.co.uk/classic-car/

dpb

Admiral ??

alcazar

iTrader: (2)

Compare the meerkat.

But TBH you are on a loser. I have eveidence that insurance companies are making it up as they go along

Last year, insurance quote for a Corsa 1.3 CDTi:
6 year's NCD: £140
NO NCD: £180

So how's THAT work? Even the company rep could not explain it.

Further evidence:

I later wanted my youngest on the insurance. It was with Co-Op via Post Office.
Co-Op declined him on the policy....BUT, if I cancelled the policy and took out another with him on, at no loss to me, the SAME COMPANY quoted me cheapest.
Go figure.

RoShamBo

iTrader: (1)

Have to agree.

I am a named driver on my wife's policy (have been for years)
At renewal time they quoted a renewal of £ 350.00 then they removed me as a named driver and then added me in again....and the renewal premium went DOWN by £15 !

Even the agent couldn't explain it ! lol

Not complaining of course - but where is the logic in that !

Ro.

RoShamBo

iTrader: (1)

Thanks Davyboy - called Classic Line Insurance and all sorted for less than £200 per year ! It wasn't strictly a "classic" but they went away, spoke to the underwriters and sorted it. Great service.

Cheers,

Ro.

davyboy

Result!

andy97

iTrader: (1)

Insurance brokers take the ****. I had to inform them my daughter had passed her test. The insurance went from £280 (she was on it provisional) to £3K. I told them to cancel and instantly it dropped to £1500. The following year they tried to up it despite no claims. I shopped around and it's is now £800.

zip106

Not so sure about that - we have a 2003 Forester with 135k miles on it, value about £1500 on a good day.

Fully comp for two of us is £195 with protected NCB. (Which is less than the RFL...)

dpb

Chancers the lot of em,like our MP's


Thankfully you can tell em where to stick every year