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Insurance renewal

Specific discussion about the E89 2009 Z4 (sDrive35is, sDrive35i, sDrive30i, sDrive23i)
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RickRob
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Insurance renewal

Post by RickRob » Tue Nov 07, 2017 11:25 pm

The insurance companies have no clue as to what "loyalty" means. Almost every year I change the insurers for both of our cars - one in my name, the other Mrs R's name. Almost without fail the renewal quote from the current insurer has gone up by a lot, but the Meercats find cheaper ones. I ignore the quotes from companies I have never hear of and then if I could save more than £10, then I do.

Given that I have proved to the new insurer that I am disloyal, they then just repeat the mistake their predecessor made in 12 months' time.

As a matter of principle I never invite the current insurer to match the new quote, I just have a ridiculous conversation with their call centre in which I stress upfront I have already committed and paid the new insurer and that they're wasting their time to try to get me to change my min, and then they try to get me to change my mind! On several occasions I have put the phone down and then written an email or letter to them to confirm I'm not renewing with them.

Overall I shouldn't complain about paying about £220 on the Z4MR.
///M Roadster. 2007 Black/Black. Rear spoiler, whippy aerial, mud flaps and gimp-style wind deflector! :)

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Mr Tidy
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Insurance renewal

Post by Mr Tidy » Wed Nov 08, 2017 12:30 am

RickRob wrote: Tue Nov 07, 2017 11:25 pmOverall I shouldn't complain about paying about £220 on the Z4MR.
No, I certainly wouldn't complain about that!

Our Forum provider charged me £368.50 at renewal in June for my Z4C! :eek:

If you are going to Newlands let me know who you use please! :thumbsup:
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bob4333
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Insurance renewal

Post by bob4333 » Wed Nov 08, 2017 10:01 am

Every car premium this time around has a price hike that for once is nothing to do with the broker or the underwriter.

Currently if an insured driver gets hit by an uninsured driver the Motor Insurance Bureau pays out compensation. This was funded by a £10 levy on premiums. Bad, but we suck it up and drive on.

An EU ruling with which the UK has no option but to implement says that an uninsured driver that gets hit by an uninsured driver must also be compensated. :x Guess where the money comes from? Some estimate the cost to provide this ridiculous pot is as much as a 14% hike!

Transport secretary Chris Grayling has pledged the UK will scrap this ruling when the UK leaves the EU.

So premiums will come down - won't they........? :rofl:

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Insurance renewal

Post by mcbutler » Wed Nov 08, 2017 10:41 am

Direct Line is worth a look, especially if you have more than one car, they give discounts if you insure your home, cars etc with them. They are excellent at coughing up when needed, which is actually what matters the most..
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bob4333
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Insurance renewal

Post by bob4333 » Wed Nov 08, 2017 11:53 am

I also like Direct Line. Have my wife's car with them but not my BMW. They won't touch a car with any mods.

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Nictrix
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Insurance renewal

Post by Nictrix » Wed Nov 08, 2017 12:35 pm

bob4333 wrote: Wed Nov 08, 2017 10:01 am

Currently if an insured driver gets hit by an uninsured driver the Motor Insurance Bureau pays out compensation. This was funded by a £10 levy on premiums. Bad, but we suck it up and drive on.

Do insurance companies not offer this as an extra on top of your policy?
If this is correct does that mean they are charging you extra for something that is included already?
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Insurance renewal

Post by bob4333 » Wed Nov 08, 2017 1:06 pm

Unsure, but from what I see most insurance companies seem to make a big thing out of including it so I suspect it may be obligatory now.

The RAC say "If you have fully comprehensive car insurance, you can claim from your insurer".

It's just the sheer bloody injustice of EU legislation meaning we have to fund compensation to what is in effect a criminal. Goes against all logic and common sense and there's nothing you or I can do about it!

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Post by Baza » Fri Nov 10, 2017 5:08 pm

HillWalker wrote: Tue Nov 07, 2017 3:33 pmI'm 67 and I'd willing pay your insurance if I could be 23 again.
Ill second that
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Insurance renewal

Post by Dav the wheel nut » Fri Nov 10, 2017 5:17 pm

I've just had a renewal quote from LV for my Shogun at £187.
Went on Go Compare and got it down to £156. Guess who with........yep LV.
A quick phone call and yes they did it for £156 :thumbsup:
Always take the time to go on a comparison site, it only takes 10 minutes and it's always worth it :driving:

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RickRob
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Insurance renewal

Post by RickRob » Sat Nov 11, 2017 11:54 am

Mr Tidy wrote: Wed Nov 08, 2017 12:30 am
RickRob wrote: Tue Nov 07, 2017 11:25 pmOverall I shouldn't complain about paying about £220 on the Z4MR.
No, I certainly wouldn't complain about that!

Our Forum provider charged me £368.50 at renewal in June for my Z4C! :eek:

If you are going to Newlands let me know who you use please! :thumbsup:
This was with Admiral. However I have just asked the Meercats again and Admiral are quoting £276, but More Than (with a biggish excess) and Saga are both a lot nearer to what I'm currently paying. This for 8k miles a year:

I think that you should be able to do a lot better than £368.50!
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Insurance renewal

Post by elevensies » Sat Nov 11, 2017 12:09 pm

mines around 290 fully comp, protected ncb and the wife named :thumbsup:
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Post by Obs-Com » Sat Nov 11, 2017 7:27 pm

bob4333 wrote: Wed Nov 08, 2017 10:01 am Every car premium this time around has a price hike that for once is nothing to do with the broker or the underwriter.

Currently if an insured driver gets hit by an uninsured driver the Motor Insurance Bureau pays out compensation. This was funded by a £10 levy on premiums. Bad, but we suck it up and drive on.

An EU ruling with which the UK has no option but to implement says that an uninsured driver that gets hit by an uninsured driver must also be compensated. :x Guess where the money comes from? Some estimate the cost to provide this ridiculous pot is as much as a 14% hike!

Transport secretary Chris Grayling has pledged the UK will scrap this ruling when the UK leaves the EU.

So premiums will come down - won't they........? :rofl:
My wife’s 1 series was hit by an uninsured driver several years ago. The total claim was over £5000. The MIB were absolutely brilliant in paying out quickly to cover the total cost of the claim and ensured she was not penalised in any way for the incident. I gladly pay my £10 premium because of this.

The uninsured driver was also prosecuted, supported by the MIB. I’m therefore interested in the detail of the EU Ruling regarding two illegal drivers who are both knowingly breaking the law and who will be prosecuted via the MIB intervention, being compensated? Can you reference this ruling? Sounds like an another EU myth (remember the one about Bananas not bending enough?) and compleatly illogical as its effectively “cash for crash”!
2011-14: E89 2.3sDrive
2014-16: E89 35is - Valencia Orange X2 (gone but not forgotten)
2016-17: F33 440i
2017-17: E85 2.5si
2017-19: F87 M2 - Long Beach Blue DCT (Stunning)
2019-23: G29 M40i First Edition (more stunning than the M2)
2023-??: G23 M440i

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Insurance renewal

Post by Silverzedtom » Sat Nov 11, 2017 7:32 pm

I told Adrian flux I had received a better renewal price than what they were offering me as a new customer. They matched it with no fuss whatsoever.
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bob4333
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Insurance renewal

Post by bob4333 » Sun Nov 12, 2017 9:30 am

Obs-Com wrote: Sat Nov 11, 2017 7:27 pm Can you reference this ruling?
I'll have a go. motorclaimguru.co.uk is usually reliable on these matters.

"A European Union ruling means that even motorists who break the law by driving without insurance should be protected if their car is damaged – a policy, transport secretary, Chris Grayling has condemned.

Under current UK rules, protection is given to motorists whose car is damaged by an uninsured driver. The Motor Insurance Bureau (MIB) charges insurers a levy to meet the bill. The cost – some £256 million last year, or around £10 per driver – is passed on to motorists through their premiums.

However if the motorist who is the victim of the crash is also uninsured, they are exempt from receiving any compensation. The new EU ruling, which takes effect from 1 March (2017), will see a common system in place across the continent in which no driver is excluded.

Mr Grayling said, ‘It cannot be right that hardworking, law abiding drivers will foot the bill for the irresponsible actions of those who decide to break the law and drive without insurance.

‘As a result of European law, the government is forced to make these changes to the compensation paid out by the MIB. We are bound by our EU obligations – but we are leaving the EU and we will want to come back to this.’"

From the MIB

https://www.mib.org.uk/media-centre/new ... agreement/

"MIB paying a claim for the damage to an uninsured driver’s car when it has been caused by another uninsured or a ‘hit and run’ driver seems counter-intuitive. However, from 1 March 2017 that is what MIB will be required to do.

Paul Ryman-Tubb, Chief Technical Officer at MIB said: “Whilst we will deal with these claims in a professional manner, the principle of using honest premium paying motorists money to pay for the damage to an uninsured driver’s car seems crazy.”

This has come about through changes to the Uninsured Drivers Agreement and Untraced Drivers Agreement between MIB and the Government which are being introduced this week.

MIB has exercised its views with government advisors and debated this for many months. We understand that the government felt its hands were tied and they must comply with the Directive; so both of the Agreements have to change."

See also The Insurance Times

https://www.insurancetimes.co.uk/eu-in- ... 29.article

Insurance Business Magazine

http://www.insurancebusinessmag.com/uk/ ... 42547.aspx

Sunday Express

http://www.express.co.uk/news/uk/753659 ... ed-drivers

It was also confirmed to me by someone working in the insurance market. So, although just as nonsensical, sadly it doesn't seem to be Bananas this time.

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Post by Obs-Com » Sun Nov 12, 2017 12:25 pm

Thanks for taking the time to provide the background information. Never heard anything about it all re uninsured to uninsured payouts.

You'll note that pay-outs have never actually happened it these circumstances by MIB its just that EU Law essentially means it technically could happen because of how the law has to be applied to all citizens. I suspect if ever an uninsured driver tried to obtain compensation under these circumstances (in the unlikely event that a matter would even get before a Court) it would be thrown out. Interesting test case though if ever it did happen.

The background information does have some similarities to the Banana though. There is obviously EU Law regarding the size and possible bend of the banana to ensure it conforms to regulations for sale in the EU. However, no one's ever heard of a Greengrocer being taken to Court because of the bend of his banana!! :thumbsup:
2011-14: E89 2.3sDrive
2014-16: E89 35is - Valencia Orange X2 (gone but not forgotten)
2016-17: F33 440i
2017-17: E85 2.5si
2017-19: F87 M2 - Long Beach Blue DCT (Stunning)
2019-23: G29 M40i First Edition (more stunning than the M2)
2023-??: G23 M440i

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