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      04-08-2008, 08:01 PM   #1
Turbo2
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BMW insurance - ouch!!

Hey all, vert is coming up to one year old and just got the renewal for the BMW insurance I took out at the dealers.

No claims or anything, premium jumped from 1600 to 2800!!!

Whats that all about? subsidising new business to get you on board, then ramping it up and hope you stick with it I guess?

Obviously I'll be looking around now, aami always been good in the past, any recommendations?
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      04-08-2008, 09:25 PM   #2
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aami for the win. go for flexi premium if you want.
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      04-08-2008, 09:26 PM   #3
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I pay $680/annum , if i have accident and i will have to pay another $2000-$2500 , i take it as a gamble
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      04-09-2008, 12:48 AM   #4
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Yep, I am with AAMI too, they give me a great price considdering my age and car, modifications included. They charge me thousands less then any other company.
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      04-09-2008, 03:28 AM   #5
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Nah AAMI is the biggest ripped off, they want $1500 for our 2008 X3 3.0si!

Rung Allianz, now only paying $850 for the premium with $500 excess.
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      04-09-2008, 04:49 AM   #6
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Quote:
Originally Posted by Ninja333 View Post
Nah AAMI is the biggest ripped off, they want $1500 for our 2008 X3 3.0si!

Rung Allianz, now only paying $850 for the premium with $500 excess.
On my first year of insurance it was exactly the oposite for me... Allianz wanted $6500 per year, where as AAMI wanted $3000, and that isn't taking into account AAMI's felxi premiums, so now I am paying well under $2000
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      04-09-2008, 04:53 AM   #7
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It's funny, as BMW Insurance is underwritten by Allianz.
Also Just Car Insurance is underwritten by AAMI.
So price differences across each don't make much sense!
I found BMW Insurance offered me a great deal and my premiums have dropped every year.
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      04-09-2008, 05:18 AM   #8
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I am pretty happy with BMW Insurance too.

1. The price is reasonable (relatively)
2. They will actually insure me
3. Good terms, new car within 2 years
4. I know they use a good repairer in Melbourne
5. Windscreen replacement has no excess

Does anyone else with BMW Insurance have a clause stating that you can't park at train stations?
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      04-09-2008, 07:22 AM   #9
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BMW insurance is good for me, been with them for 6 years. Rating 1 and premium on e92 335 is $900.00 with $1000 excess. Choice of repairer and no excess on glass breakage
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      04-09-2008, 07:40 AM   #10
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Quote:
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BMW insurance is good for me, been with them for 6 years. Rating 1 and premium on e92 335 is $900.00 with $1000 excess. Choice of repairer and no excess on glass breakage
Wow, I might have to check this out !!
On the same car with NRMA-60% protected no-claim bonus, no driver under 30, I'm paying $1300 with $1000 excess, choice of repairer, if car a total loss within 2 years-replaced with new car.





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      04-09-2008, 07:41 AM   #11
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Yes BMW Insurance is underwritten by Allianz

I used to insure my E36 with BMW Insurance but changed it to Shannon cos i have too many mods which weren't standard like HID, Eibach lower spring, pod filter, sound system. etc
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      04-09-2008, 04:43 PM   #12
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Quote:
Originally Posted by Sparky66 View Post
Wow, I might have to check this out !!
On the same car with NRMA-60% protected no-claim bonus, no driver under 30, I'm paying $1300 with $1000 excess, choice of repairer, if car a total loss within 2 years-replaced with new car.
.
That seems about right, as insurance in sydney costs around 1.5x to 2x as much as it does in melbourne. Also in vic full comprehensive includes CTP, so there is no green slips either.
Check any of the online insurance quoting websites if you want to see for yourself.
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      04-09-2008, 06:09 PM   #13
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While we are on the subject of insurance, I'd like to make people aware of my recent experiance with Alliance.

I've had 2 car policies for over 15 years on each with them. I've only ever made 1 not at fault claim with them over that time. When I changed my wheels over from 17" to 19" they told me they were no longer able to insure me. The only way they would continue to insure me was if the 19" wheels were factory standard fit or reluctantly if they were genuine BMW accessory. They gave me a big story on ow "Conservative" they are when it comes to modifications.

Thats OK cause I shopped around and found 3 other insurance companies cheaper. AAMI had the cheapest premium but I ended up going with Suncorp as I bundled up both car policies with my existing home and contents.

Shame Allianz .... Shame..... I would have thought they needed more customers like me who never made claims.

As for AAMI, my son is insured with them and when he wrote off his Lancer last year, they were very quick to sort out the paperwork and pay us out. Good experiance with them all round.

So ... the moral of the story ....... If you are insured with Allianz and made modifications to your car without notifying them then you might not actually be insured. Better make sure any modifications are noted on your policy.
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      04-09-2008, 06:23 PM   #14
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^Thats ridiculous about not being able to do small mods.

My premium with NRMA is 1500k but thats partly due to my age and twin turbo factor. They are still cheaper then the rest and i also get the windscreen cover without any premium on that.
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      04-10-2008, 05:55 AM   #15
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I wrote to Alliance (BMW Insurance) listing my "proposed" modifications last week. They called today to say that they would not insure the vehicle with these modifications and further - they were canceling the policy and would provide 3 days to find alternate insurance. I reminded them that the modifications were "proposed" however I took the option to cancel the policy anyway. AAMI were more than helpful, had no issues with the modifications to muffler, wheels or suspension provided the suspension modification didn't significantly lower the car. Speaking with them about it - the concern was that is wasn't slammed! Quote was comparable to Alliance - but lower excess! Makes you wonder?
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      04-10-2008, 06:06 AM   #16
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Quote:
Originally Posted by BMW //MPOWER View Post
It's funny, as BMW Insurance is underwritten by Allianz.
Also Just Car Insurance is underwritten by AAMI.
So price differences across each don't make much sense!
I found BMW Insurance offered me a great deal and my premiums have dropped every year.
I looked at all of these companies...

Allianz I have already stated the price of the quote, but "BMW" quoted me around $1000 more then Allianz.

I also took the time to read the fine print on the Just Cars policies, and found that if you option it up to standard AAMI coverage, you would actually end up paying more then if you actually just signed with AAMI...

Go figure!

So to top it off, if i went with BMW, I would be paying like $5000 more! LOL, asif...

Quote:
Originally Posted by Sparky66 View Post
Wow, I might have to check this out !!
On the same car with NRMA-60% protected no-claim bonus, no driver under 30, I'm paying $1300 with $1000 excess, choice of repairer, if car a total loss within 2 years-replaced with new car.





.
How can you only be on a 60% NCB if there aren't even any under 30's driving the car?

I asked for the maximum bonus (70 or 75% I think...), and they added it on (AAMI)

Quote:
Originally Posted by vgr02 View Post
...I ended up going with Suncorp...
Suncorp wonl't unsure me due to my age and car
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      04-10-2008, 06:09 AM   #17
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BMW wont give me insurance, because im under 25. i went to ask just car insurance, they quote me $3500. then i choose aami for $680 only, BUT i am a second driver. haha who cares, i rarely use my car anyway. fortunately so far all goes well ( 6months already )
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      04-10-2008, 06:13 AM   #18
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Just use an insurance broker.
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      04-10-2008, 07:13 AM   #19
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Just use an insurance broker.
any recommendations?

i have my renewal coming up....might give BMW a try, although RACV online gives me about $1385 which isnt too bad, $500 excess.
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      04-10-2008, 08:33 AM   #20
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Quote:
Originally Posted by BBQWER View Post
BMW wont give me insurance, because im under 25. i went to ask just car insurance, they quote me $3500. then i choose aami for $680 only, BUT i am a second driver. haha who cares, i rarely use my car anyway. fortunately so far all goes well ( 6months already )
Why won't they insure you?
They insured me, when i was 23 and even carried across my rating 1 (max 65% no claim bonus) from JustCar that i had on the E36.
Speaking of which, i just got my premium letter in the mail from BMW insurance, it's down to $960 per year, so far it's dropped abour $100 each year i've had the car.
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      04-10-2008, 07:39 PM   #21
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Quote:
Originally Posted by e93 View Post
I wrote to Alliance (BMW Insurance) listing my "proposed" modifications last week. They called today to say that they would not insure the vehicle with these modifications and further - they were canceling the policy and would provide 3 days to find alternate insurance. I reminded them that the modifications were "proposed" however I took the option to cancel the policy anyway. AAMI were more than helpful, had no issues with the modifications to muffler, wheels or suspension provided the suspension modification didn't significantly lower the car. Speaking with them about it - the concern was that is wasn't slammed! Quote was comparable to Alliance - but lower excess! Makes you wonder?
There you go ..... In the event of an accident you might of discovered that you were in fact not insurred and the only obligation they had was to refund you some premiums. Insurance companies out is that it is your responsibility to disclose everything.
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      04-10-2008, 09:13 PM   #22
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any recommendations?

i have my renewal coming up....might give BMW a try, although RACV online gives me about $1385 which isnt too bad, $500 excess.
Gibson Insurance brokers in Chatswood. They do all my business insurance, my fathers CL500 and yacht etc at very good rates.

Graham is a very helpful guy.
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