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Hello guys, I'm new to this forum and also a new owner of BMW 520D F10

 

I'm aware that the insurance for such a car in my age won't be cheap, but I just want to make sure I check everything before paying 3k a year. 

 

So I'm 20 years old, 21 in March. Held my licence since September 2015 and only got 1 year no claim as someone reversed into me last year so lost basically 2 years worth of ncb.

 

I bought a bmw 520d f10 m sport 63 plate, and when I made a quote on confused.com I only found a 3.1k quote the cheapest, which is quite a lot. I'm driving a ford focus 1.0 125 15 plate atm and I'm paying around 2k for the insurance having my mum as additional driver with eu licence.

 

I might be stupid getting a car like this, but it's only 2l, my mates were driving m235 at the age of 20-21. So I just wanted to ask if you guys any idea of what can I do, or which insurance provider to choose to pay as little as possible? 

 

Hope I get some help, thanks! :)

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Hi

Similar-ish situation although I live in a stupidly high risk postcode in the centre of Birmingham - comparison sites returned quotes over 2.5k

 

If your a 'professional' contact aon, ask for the prestige motor policy desk.

In total I'm paying £1700 for this year but that also includes my wife's little 1.9tdi golf match, with both of us sporting 3 points each, I have 5yrs ncb and she has 2...

 

Shop around, try some insurers directly and good luck

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I know how it feels, I’m 24, held licence since 2011, have 3 years no claims (no accidents, just company cars), and still for a 2016 520d have quotes of about £880. Insurance is pretty high on the F10 I believe. I live in a reasonably low risk area too. 

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I'm not sure why you're asking on here. If comparethemarket has quoted you that wedge, you'll struggle to get cheaper. I'm sure you've asked your current insurer?

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But surely that then becomes what the insurance companies call "Fronting" Jake, ie, somebody falsely claiming to be the main driver. Its not a risk I would be prepared to take, but, many do.

 

The main job of an insurance company when presented with a claim is to find a way out of paying it. Personally I would not want to give them an easy chance to do so.

 

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55 minutes ago, apples12 said:

Hi

Similar-ish situation although I live in a stupidly high risk postcode in the centre of Birmingham - comparison sites returned quotes over 2.5k

 

If your a 'professional' contact aon, ask for the prestige motor policy desk.

In total I'm paying £1700 for this year but that also includes my wife's little 1.9tdi golf match, with both of us sporting 3 points each, I have 5yrs ncb and she has 2...

 

Shop around, try some insurers directly and good luck

I'll check this out, thanks!

 

26 minutes ago, BFleming said:

I'm not sure why you're asking on here. If comparethemarket has quoted you that wedge, you'll struggle to get cheaper. I'm sure you've asked your current insurer?

Im just making sure if I can do something else... If I need to pay that much I will, but if there's something I can do to get it a bit cheaper it's always better to ask, right?

 

22 minutes ago, jake13 said:

Then.......Mum should be the main driver (policy holder).

I'll try it out, but I'm the registered keeper, wouldn't they pick on that?

 

 

 

Also is there something I can change when doing the quote, that might be making it more expensive?

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I was running around in my Senator at 22. I paid a third of what I paid for the car in insurance. But I bought the car for work and premiums tumbled each year as I kept my nose clean.

 

Do not say it's your mums car and add you as an extra driver as they will find out in the event of a claim as they will be suspicious when the car is registered to you and not your mum.

 

Yes it may only be a 2.0 but it's what damage you can do with that amount of bhp that's the risk.

 

But it's your cash to burn and if you want to spend what might be two months wages for some on insurance, knock yourself out.

 

 

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What is your mitigating reason? Did you buy the car for yourself or Mum? We live in a transactional society, once your Mum pays you off for the car then you can change the Registered Keeper.

 

29 minutes ago, Da Vid Wizzy said:

Also is there something I can change when doing the quote, that might be making it more expensive?

 

Wait 20 years; own a house, have kids and change your gender. NCB is a scam, they only consider 9 years and disregard the rest.

Edited by jake13

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Some like Direct Line aren't included on comparison sites so worth getting a quote. 

Have a look at MSE Martin Lewis' money saving website which has a really good guide on how to track down the best quote. 

Having a black box fitted may reduce your premium too, but I don't have any e Perin e of these. 

I'd also suggest checking out Auto Express' annual rating of insurance companies; some may be cheap but their customer service is poor. 

Insurance wasn't anywhere near these levels when I was your age, tooting around in my Fiat Uno Turbo... 

Good luck. 

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I work in Insurance, and despite what some have said on here about their first piority to not pay out the reality is very different. If you deliberately lie and say it’s your Mums car why would you expect the insurer to pay out? Moreover, if this happens you’ll make yourself almost uninsurable.

 

if you add your Mum as an additional driver (and she has a clean record) that might help a bit.

 

As the poster above has suggested try Knott and Flux. 

 

Under 21 males have a 50% chance of having a smash, which is why it’s so expensive. Driving a battleship doesn’t help, but we all pay for life’s great pleasures!

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That's a big ask at 20! You will pay a lot for insurance no matter what, a 320d would be considerably less to insure. The 5 will always carry a premium. 

 

My First 5 series was a two year old 520d two and a half years ago so at the age of 23. had 2 years NCD and insured at £800 a year. 

 

My current G30 was £600 a year when bought new last year at the age of 25. As mentioned above, Chris Knott does great prices 

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Definitely shop around - and if needs be get a black box policy - you need to build up some NCB and get a little older! may be a good stopgap for a year if it saves you in the long run.

 

I wouldn't bother 'fronting' - WHEN the insurance company find out it will render it null and void, not worth it in the long run - by all means add mum/dad/brother/sister/dog onto the policy if they'll be driving it as this may well bring the premium down...

 

my first ever car was a 3 door nissan almera 1.5 E which I inherited from my older brother - £1400 insurance on that! shop around...

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4 hours ago, sjak92 said:

That's a big ask at 20! You will pay a lot for insurance no matter what, a 320d would be considerably less to insure. The 5 will always carry a premium. 

 

My First 5 series was a two year old 520d two and a half years ago so at the age of 23. had 2 years NCD and insured at £800 a year. 

 

My current G30 was £600 a year when bought new last year at the age of 25. As mentioned above, Chris Knott does great prices 

 

That’s pretty much the same price as I got under the same circumstances, again the same when I was considering the G30 for a while. 

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Last year being 26, in London and with 4 years NCB my quote with direct line was 1.5k, its now gone down to 1.1k this year. If you want to keep the 520d you'll just have to accept the high prices until you have some NCB and the age for the prices to go down

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