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      10-31-2012, 04:52 AM   #1
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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.
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      10-31-2012, 05:25 AM   #2
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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.
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      10-31-2012, 08:41 AM   #3
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Originally Posted by Respm View Post
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.
In a word expensive try LV you may well be surprised and first year is like for like so no need of GAP for the first year.
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      10-31-2012, 08:47 PM   #4
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In a word expensive try LV you may well be surprised and first year is like for like so no need of GAP for the first year.
What happens when someone else writes your car off in the first year?
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      11-01-2012, 04:10 AM   #5
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What happens when someone else writes your car off in the first year?
You mean "a named driver" or "third Party", in either case the same, new replacement for yours.
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      11-01-2012, 04:16 AM   #6
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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...?
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      11-01-2012, 04:29 AM   #7
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Originally Posted by RobUK View Post
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...?
When quoted by BMW myself, found the same, double the cost.
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.
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      11-01-2012, 06:19 AM   #8
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Originally Posted by johnbmw6 View Post
You mean "a named driver" or "third Party", in either case the same, new replacement for yours.
Yes I meant a third party.

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?
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      11-01-2012, 08:30 AM   #9
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Originally Posted by NISFAN View Post
Yes I meant a third party.

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?
IF your covered fully comp by your ins co, and the third party is found at fault then your ins co will ( in the first year if you are covered) provide like for like or new for old, and claim this figure back from the third party.
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