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      08-04-2015, 11:03 PM   #1
shaynem
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Insurance

About to pick up my new M235i in the next week or so (awaiting for it to be shipped from a different dealer upto Brisbane)

I've been getting some quotes and wondering if people are able to provide some pricing they have gotten and who with.

Youi quoted $1145 but i got them down to around $1011 with $1250 excess

RACQ quoted $1039 with $1k excess ($600 base + $400 due to "High performance car") and a 4% discount if i moved our x3 across to them also (currently with Youi)

I know there are many variables in place here that insurers use to come to a price, but it would be nice to get an idea if the price is competitive.
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      08-05-2015, 01:42 AM   #2
Knightelf
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Congrats and welcome, good to see another fellow Brisbane 2er!

The insurance sounds about right. Be careful who you go with as it's worth paying a little more to get:

- choice of repairer
- modification cover

RACQ has choice of repairer but doesn't cover unlisted mods and the additional excess is quite steep. NRMA has both and no additional excess, but premium costs a little more than RACQ. In the end I went with NRMA as I've spent a lot on mods and don't want that going down the drain.

I am pretty sure Youi does not provide choice of repairer.

AAMI is generally also pretty cheap, and provides mod cover but no choice of repairer.
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Last edited by Knightelf; 08-05-2015 at 01:48 AM..
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      08-05-2015, 03:16 AM   #3
Jamie88
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When I purchased my 2er I got a few quotes from AAMI, NRMA, Just Cars and they sent crazy replies like 2.5k, I ended up going with BMW Insurance was around 40% cheaper then others. I'm only 27 so Still youngish.
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      08-05-2015, 03:22 AM   #4
shaynem
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@Knightelf thanks for the details those are some thing's I didn't think of so very helpful

@jamie88 the quote from BMW was around 2k/year so I'm not sure how you got a good deal as that works out $960/month. Allianz the underwriter for BMW does have a three year new car replacement the others are two years

Thanks for the input.
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      08-11-2015, 07:16 AM   #5
Jamie88
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Ask for a better deal with BMW Insurance, if you are buying the car new they usually give you a decent discount that's what they did for me. I'm only 27 as well so that comes into play.
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      08-12-2015, 09:30 PM   #6
den525
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This was my quote... 29 Sydney eastern suburbs. My excess is extremely high at 2650 lol but it's the best cover and cheapest for me others were quoting $2-3k with excess around 1650.

Lifetime new car replacement. Choice of repairer, agreed value
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      08-13-2015, 03:40 AM   #7
shaynem
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It amazes me the massive variance between drivers / insurers

I ended up going with Youi for $970/year with $1250 excess on a monthly basis that way when I add some mods I can choose to change to someone else that covers them and only then spend more dollars.

I had one rear end job when I had my 118D and the place I took my car to via Youi did an excellent job.

I'm 30 myself I wouldn't think being 29 or 27 etc makes any difference as I'm pretty sure the base age for cheaper insurance is 25.

I've had a clean driving record and one not at fault accident in the last 5 years.
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      08-13-2015, 08:07 PM   #8
den525
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Biggest difference is your postcode!!
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      08-13-2015, 11:29 PM   #9
shaynem
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Depends if your in the hood? or in a suburb that median house prices are very high? lol
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      08-18-2015, 03:09 AM   #10
Jamie88
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Quote:
Originally Posted by shaynem View Post
Depends if your in the hood? or in a suburb that median house prices are very high? lol
Agree 100% it does depend on your post code.

The area I purchased in & live in is $200 more expensive then when I use to park my car at my parents place for my prior car.

Because the area I live in is actually quite good tho it is like 50% units so 10x more people live in this area and this means probably 10x more claims.
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      02-05-2017, 07:09 AM   #11
den525
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Sorry to dig up an old post... but the "Australia" section is not very active lol

Just a quick question for those in Australia with insurance.

Anyone have any experience with GIO's "lifetime new for old" insurance... Reason I ask is... my car is up for my 3rd year insurance... obviously as the car gets older, agreed value naturally drops.

Apart from insurance being alot more expensive these days (same address only getting older) but 2 years ago my insurance was $1362 with 88k agreed value... now for my renewal it's $1295 but only $63,700 agreed value lol

The renewal quote for my car is $1295.19 with an agreed value of $63,700 but since it's continual renewal since new the "lifetime new car replacement" will continue.

I did a new quote for my car (with exact details), but I can get a higher agreed value $66,780 for $1296.25 (basically the same price).

Anyways, with this "lifetime new car for old replacement" does anyone think it's just a gimmick? PDS says something along the line of... If a total loss, insurer (within 90days) will try to find a new car with the same year and model... or the closest to it....

So here's the problem...
1. They don't make M235i anymore... It's M240 now...
2. The cheapest M240i is like $75k...

There's no way, GIO will rather fork out $75k to replace my car over paying $64k cash right? They'll just say "We can't replace the model, therefore will just pay you $64k cash"... which is valid as they don't make M235i anymore...

Thoughts? If anyone still hang around here? lol
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      02-06-2017, 10:42 PM   #12
Wiffa
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Insurance

Try Allianz mine is just over $1000 at 62yrs. Your age will have some impact.
The price your are nominating seems OK but you excess is $400+ more than I would have to pay.

Good Luck
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      02-21-2017, 03:20 AM   #13
boghbogh
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Hi Guys,

I checked few insurances and "Budget Direct" seems to be cheapest. Specifically asked for a choice of repairer and no performance excess.

Any experience with budget direct? It is coming around 1.2K for new M240i.
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      02-21-2017, 05:57 AM   #14
DanielGr
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Quote:
Originally Posted by boghbogh View Post
Hi Guys,

I checked few insurances and "Budget Direct" seems to be cheapest. Specifically asked for a choice of repairer and no performance excess.

Any experience with budget direct? It is coming around 1.2K for new M240i.
Bingle was the cheapest for me on my E46 M3, AAMI this time around on the M235i.

Heard a lot of good things about Famous Insurance - worth giving them a go. Unfortunately they were quite expensive for me on both the M3 and 2er, but a lot of people I know have had really good rates.
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      02-21-2017, 09:33 AM   #15
den525
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Quote:
Originally Posted by boghbogh View Post
Hi Guys,

I checked few insurances and "Budget Direct" seems to be cheapest. Specifically asked for a choice of repairer and no performance excess.

Any experience with budget direct? It is coming around 1.2K for new M240i.
You need to read up on what's the definition of budget direct's "choice of repairer" go to the FAQ page and have a read. It's not real choice of repairer, you can take it to your choice of repairer, but they'll have to approve the quote, if budget direct aren't happy, they'll either ask you to go to their partners, or just pay out what they think it's worth.

Anyways, have a look at fine prints, generally everyone's insurance is slightly different, base on so many factors, age, postcode, etc. So it's hard to say which one is better.

If you want proper no hassle insurance, don't go cheap. I've had good experiences with NRMA, Shannons, GIO. And I'd suggest to avoid companies like AAMI, Justcars, bingle etc. Even though majority of the "major" insurance companies are owned by suncorp they operate differently within each sector.
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      02-21-2017, 03:07 PM   #16
boghbogh
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Quote:
Originally Posted by den525 View Post
You need to read up on what's the definition of budget direct's "choice of repairer" go to the FAQ page and have a read. It's not real choice of repairer, you can take it to your choice of repairer, but they'll have to approve the quote, if budget direct aren't happy, they'll either ask you to go to their partners, or just pay out what they think it's worth.

Anyways, have a look at fine prints, generally everyone's insurance is slightly different, base on so many factors, age, postcode, etc. So it's hard to say which one is better.

If you want proper no hassle insurance, don't go cheap. I've had good experiences with NRMA, Shannons, GIO. And I'd suggest to avoid companies like AAMI, Justcars, bingle etc. Even though majority of the "major" insurance companies are owned by suncorp they operate differently within each sector.

Called Budget Direct 8:00 AM! Not gonna with them. NRMA doesnt offer their services in Victoria . Shannons came back with 3.5K , GIO website doesnt have M240i cannot get a quote . giving them a call shortly.

Thanks much.
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      02-21-2017, 08:01 PM   #17
den525
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Quote:
Originally Posted by boghbogh View Post
Called Budget Direct 8:00 AM! Not gonna with them. NRMA doesnt offer their services in Victoria . Shannons came back with 3.5K , GIO website doesnt have M240i cannot get a quote . giving them a call shortly.

Thanks much.
I'm with GIO it's under "2" and then pick the relevant year etc. and the 240 will come out.
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      02-22-2017, 01:48 AM   #18
boghbogh
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Quote:
Originally Posted by den525 View Post
I'm with GIO it's under "2" and then pick the relevant year etc. and the 240 will come out.
got it. Thanks.
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      02-28-2017, 10:53 PM   #19
boghbogh
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I ended up going with GIO. they are pretty good over the phone ( god knows what kind of attention I get during claiming stuff. hopefully I wont find out... )
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      10-18-2018, 08:06 AM   #20
Avex
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What are people paying this year for a m235i? Went up from $930 P.A. for my e92 to $1,012 for my m235i. For a 31 yo with 0 claims made against me, I think it's reasonable. But I was about to get the $100 online discount if I simply cancelled and applied for a new policy. I'm a red member, so i don't think staying on the same account really makes any difference to the cost.
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      10-21-2018, 04:17 PM   #21
Black2
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i'm insured with AAMI for about $1150 pa but with max excess ($2k)
0 claims against me
27yo living in Sydney
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      10-22-2018, 10:04 AM   #22
Avex
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guess age and location plays a big part, generally the east pays more too...

mine's with 1k excess.
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