Comprehensive Insurance

terrywang · 01-20-2018, 02:16 AM

Hi all Aussie M2 owners,

Which company do you insure your beloved M2 with?

With the X3 (F25 LCI) I used to insure it with NRMA, the comprehensive is only 685/y (not sure why, any other insurers's price is higher).

For the M2, I've tried many, the lowest I can find is Bingle (1500-ish - currently covered by it but soon to change), but my mechanic friend said it's cray, try to use GIO or QBE (no way - too expen$ive).

GIO, Coles Insurance (and some other companies) did not even offer online quote.

Just want to know your insurers and do some shopping-around.

TIA

Prodigy. · 01-20-2018, 11:15 PM

I have 3 cars in the family all insured with Shannons, the M2 is not my daily so is insured for limited use only.

WAY · 01-23-2018, 09:20 AM

I just played with the online quote on budget direct after seeing the commercial. Far out, it’s half the price (1300) of GIO which was the cheapest quote I found previously!

terrywang · 01-23-2018, 03:11 PM

Quote:

Originally Posted by WAY

I just played with the online quote on budget direct after seeing the commercial. Far out, it’s half the price (1300) of GIO which was the cheapest quote I found previously!

Thanks, I was about to try Budge Direct as well. However, would it be able to fix the M2 properly in case of an accident, this is a concern. Could be even worse than Bingle.

For GIO, if I increase the excess to 3200 the premium is 14xx lol

terrywang · 01-24-2018, 02:38 AM

Budget Direct seems to be OK, will go with it for now.

WAY · 01-24-2018, 04:29 PM

Quote:

Originally Posted by terrywang

Budget Direct seems to be OK, will go with it for now.

What is the situation with repairers? You get to choose your own? Or they just go with the cheapest? So they offer new for old replacement within the first two years? Just sound too cheap to be true haha

Kemmyn · 01-24-2018, 07:32 PM

Hey Terry,

Just swapped my insurance from the old car to the M2, $85.11 a month with NRMA! I do have several years with them and multi policy discount but was very happy with the price! That's with a $300 excess, insured at market value, windscreen option and hire car if it needs to get repaired.

terrywang · 01-24-2018, 08:42 PM

Quote:

Originally Posted by Kemmyn

Hey Terry,

Just swapped my insurance from the old car to the M2, $85.11 a month with NRMA! I do have several years with them and multi policy discount but was very happy with the price! That's with a $300 excess, insured at market value, windscreen option and hire car if it needs to get repaired.

Sounds too good.

My X3 20d xDrive with M Sport Package was with NRMA, the yearly premium was 685/y when I cancelled it. The quote NRMA gave me for the M2 was like 2400 or more. Ridiculous.

Kemmyn · 01-24-2018, 09:10 PM

it does but i'm not complaining to them about it!

terrywang · 01-24-2018, 10:47 PM

Quote:

Originally Posted by Kemmyn

it does but i'm not complaining to them about it!

You must be a very good driver, m8 ;-)

Zuzu · 01-24-2018, 11:33 PM

Went with GIO Platinum.. Found Budget had too many loose ends in regards to new for old replacement. By the time you add new for old and windscreen and hire car, and similar excess, it was only 200 cheaper than GIO..

terrywang · 01-25-2018, 02:41 AM

Thanks for the input zuzu. Mine is pre-owned so New for Old doesn't apply anyway.

Who? · 02-10-2018, 02:58 AM

Quote:

Originally Posted by Prodigy.

I have 3 cars in the family all insured with Shannons, the M2 is not my daily so is insured for limited use only.

So i only drive on the weekend as i live close to the city, how much differnece does limited use make?

Prodigy. · 02-10-2018, 07:46 PM

Quote:

Originally Posted by Who?

So i only drive on the weekend as i live close to the city, how much differnece does limited use make?

It's going to vary I'm sure depending on the insurer but i think I'm saving around $600 pa.

atlas · 03-05-2018, 01:27 AM

How old are you? I'm 34 and insured with RACV for about $1400. I choose the repairer.

terrywang · 03-05-2018, 03:34 AM

Quote:

Originally Posted by atlas

How old are you? I'm 34 and insured with RACV for about $1400. I choose the repairer.

Very close mate, but we don't have RACV in NSW ;-(

WAY · 03-05-2018, 03:53 AM

Quote:

Originally Posted by terrywang

Very close mate, but we don't have RACV in NSW ;-(

We can insure with NRMA so I’m pretty sure you can insure with RACV too!

Who? · 03-05-2018, 05:18 AM

went with racq 29yo for $1500 per year

my original insurer allianz didn't want to insure me cause i had an at fault accident a little less than a year ago, and this is a 'high powered' car..

nick_stp · 03-05-2018, 04:08 PM

Quote:

Originally Posted by WAY

We can insure with NRMA so I’m pretty sure you can insure with RACV too!

I remember after I put the address, it doesn't allow me to proceed as it's a non-Victoria address.

terrywang · 03-09-2018, 02:14 AM

Quote:

Originally Posted by nick_stp

I remember after I put the address, it doesn't allow me to proceed as it's a non-Victoria address.

Quote will fail to proceed once you input non-Vic address.

nick_stp · 03-09-2018, 03:46 AM

Quote:

Originally Posted by terrywang

Quote:

Originally Posted by nick_stp

I remember after I put the address, it doesn't allow me to proceed as it's a non-Victoria address.

Quote will fail to proceed once you input non-Vic address.

Yes, it asks me to call the customer service to discuss though, not sure if they'll actually insure a non-Vic address vehicle.

kravz · 05-21-2018, 08:12 AM

Quote:

Originally Posted by Who?

went with racq 29yo for $1500 per year

my original insurer allianz didn't want to insure me cause i had an at fault accident a little less than a year ago, and this is a 'high powered' car..

I got quotes circa 4k in nsw ... It's been difficult finding a decent insurer!
Can't believe the difference, and I got max ncp too lol

01-20-2018, 02:16 AM	#1
terrywang Second Lieutenant 94 Rep 241 Posts Drives: OG F87 M2 Join Date: Aug 2015 Location: Sydney iTrader: (0) Garage List 2016 BMW M2 [0.00]	Comprehensive Insurance Hi all Aussie M2 owners, Which company do you insure your beloved M2 with? With the X3 (F25 LCI) I used to insure it with NRMA, the comprehensive is only 685/y (not sure why, any other insurers's price is higher). For the M2, I've tried many, the lowest I can find is Bingle (1500-ish - currently covered by it but soon to change), but my mechanic friend said it's cray, try to use GIO or QBE (no way - too expen$ive). GIO, Coles Insurance (and some other companies) did not even offer online quote. Just want to know your insurers and do some shopping-around. TIA
	Appreciate 0 Tweet Quote

01-20-2018, 11:15 PM	#2
Prodigy. Lieutenant Colonel 698 Rep 1,514 Posts Drives: ///M2 Join Date: Jun 2010 Location: Australia iTrader: (0)	I have 3 cars in the family all insured with Shannons, the M2 is not my daily so is insured for limited use only.
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01-23-2018, 09:20 AM	#3
WAY Brigadier General 458 Rep 4,822 Posts Drives: Fast ones Join Date: Jul 2007 Location: Melbourne, Australia iTrader: (0)	I just played with the online quote on budget direct after seeing the commercial. Far out, it’s half the price (1300) of GIO which was the cheapest quote I found previously!
	Appreciate 0 Quote

01-24-2018, 02:38 AM	#5
terrywang Second Lieutenant 94 Rep 241 Posts Drives: OG F87 M2 Join Date: Aug 2015 Location: Sydney iTrader: (0) Garage List 2016 BMW M2 [0.00]	Budget Direct seems to be OK, will go with it for now.
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01-24-2018, 07:32 PM	#7
Kemmyn New Member 6 Rep 15 Posts Drives: M2 Join Date: Jan 2018 Location: Queensland iTrader: (0)	Hey Terry, Just swapped my insurance from the old car to the M2, $85.11 a month with NRMA! I do have several years with them and multi policy discount but was very happy with the price! That's with a $300 excess, insured at market value, windscreen option and hire car if it needs to get repaired.
	Appreciate 0 Quote

01-24-2018, 09:10 PM	#9
Kemmyn New Member 6 Rep 15 Posts Drives: M2 Join Date: Jan 2018 Location: Queensland iTrader: (0)	it does but i'm not complaining to them about it!
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01-24-2018, 11:33 PM	#11
Zuzu Major General 2816 Rep 7,637 Posts Drives: M2C HS 6MT Join Date: Mar 2008 Location: Sydney Australia iTrader: (0)	Went with GIO Platinum.. Found Budget had too many loose ends in regards to new for old replacement. By the time you add new for old and windscreen and hire car, and similar excess, it was only 200 cheaper than GIO..
	Appreciate 0 Quote

01-25-2018, 02:41 AM	#12
terrywang Second Lieutenant 94 Rep 241 Posts Drives: OG F87 M2 Join Date: Aug 2015 Location: Sydney iTrader: (0) Garage List 2016 BMW M2 [0.00]	Thanks for the input zuzu. Mine is pre-owned so New for Old doesn't apply anyway.
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03-05-2018, 01:27 AM	#15
atlas Lieutenant 383 Rep 583 Posts Drives: F10 535i, M2 LCI, G05 X5 40i Join Date: Nov 2009 Location: Melbourne, Australia iTrader: (0)	How old are you? I'm 34 and insured with RACV for about $1400. I choose the repairer.
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03-05-2018, 05:18 AM	#18
Who? Colonel 485 Rep 2,197 Posts Drives: F87 LCI Join Date: Nov 2012 Location: Brisbane iTrader: (0)	went with racq 29yo for $1500 per year my original insurer allianz didn't want to insure me cause i had an at fault accident a little less than a year ago, and this is a 'high powered' car.. __________________ So far: 200cell downpipe, custom exhaust, lifhtweight splitter, m4 comp seats
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