10-31-2012, 04:52 AM | #1 |
New Member
2
Rep 9
Posts |
BMW Insurance - Any Comments?
I'm taking possession of a 320d Luxury in December with lots of nice toys. My current insurance (Directline) will pay out only market value in the event of a write off or theft so 1 month after having it, perish the thought, I would lose a lot of money if the car was lost/written off. I'm aware of course of the GAP insurance options and I am getting quotes now.
BMW insurance (Allianz under another name) say that if the car is less than 1 year old and the damage is greater than 50% of the original value of the car, they either replace the car, like for like, or refund the invoice price. Has anyone any experience of BMW insurance, from a claims point of view? Thanks. |
10-31-2012, 05:25 AM | #2 |
Captain
193
Rep 656
Posts |
My experience of them is that although it may feel reassuring taking out BMW insurance as you know it will be repaired by BMW etc, the high cost compared to other bigger companies does not justify it. It was >£200 more expensive on my Z4 and you could buy GAP for that. Just my thoughts.
|
Appreciate
0
|
10-31-2012, 08:41 AM | #3 | |
Live for today tomorrow never comes
1988
Rep 9,498
Posts |
Quote:
__________________
Live for now, life is too short.
2021 LCI M5 Marina Bay Blue/ Smoked White Leather |
|
Appreciate
0
|
10-31-2012, 08:47 PM | #4 |
Major General
3486
Rep 9,709
Posts |
|
Appreciate
0
|
11-01-2012, 04:10 AM | #5 |
Live for today tomorrow never comes
1988
Rep 9,498
Posts |
You mean "a named driver" or "third Party", in either case the same, new replacement for yours.
__________________
Live for now, life is too short.
2021 LCI M5 Marina Bay Blue/ Smoked White Leather |
Appreciate
0
|
11-01-2012, 04:16 AM | #6 |
Brigadier General
2810
Rep 4,934
Posts
Drives: 340i MPPSK
Join Date: Jun 2012
Location: Sussex, N.Yorks, UK
|
Unfortunately I've only used the free 8-day cover from BMW Insurance while arranging my own policy. BMW's was well over double the cheapest quote I got.
That's not to say cheapest is best, but it does show how un-competitive the BMW offering is. What I didn't find out was if they'll negotiate - for GAP & Tyre Insurance they immediately matched a car2cover quote so I wonder if they'd have matched a main policy quote...?
__________________
Life is a state of mind |
Appreciate
0
|
11-01-2012, 04:29 AM | #7 | |
Live for today tomorrow never comes
1988
Rep 9,498
Posts |
Quote:
Interesting as insurance companies like Elephant/Admiral who are in fact the same company do NOT offer "like for like" in the first year, but LV do and LV are very competitive. I have found the "RED Telephone" to be the most UN-competitive, probably why they are not on comparison web sites.
__________________
Live for now, life is too short.
2021 LCI M5 Marina Bay Blue/ Smoked White Leather |
|
Appreciate
0
|
11-01-2012, 06:19 AM | #8 | |
Major General
3486
Rep 9,709
Posts |
Quote:
Interesting, so you are saying that because 'my' insurer has a new for old policy on year old cars, the 'other' insurance company will have to match that clause even if the insured driver that crashes into me does not have new for old insurance cover? Or does my insurance company pay the shortfall? Do I then lose NCD? |
|
Appreciate
0
|
11-01-2012, 08:30 AM | #9 | |
Live for today tomorrow never comes
1988
Rep 9,498
Posts |
Quote:
__________________
Live for now, life is too short.
2021 LCI M5 Marina Bay Blue/ Smoked White Leather |
|
Appreciate
0
|
Post Reply |
Bookmarks |
Thread Tools | Search this Thread |
|
|