pspencer

Help! I'm supposed to be importing my new M5 from Germany this Friday and I'm having a real problem trying to get it insured. I've found a few quotes that aren't too bad considering it's group 20, but none of them will give me cover until the car hits British soil. Apparently a new EU directive makes it illegal to insure the car until it's in the UK.

Has anyone found a way around this problem? The transfer plates give the car third party insurance, but this doesn't help me if someone steals it whilst I'm buying booze in calais. I've spoken to the dealer and they haven't heard of this problem (I guess it must be a new directive) and don't think they can help.

I can see a few possible solutions.

1. I find a German company willing to sell me two days worth insurance. Not so easy since I don't speak any German, don't know any German insurers and the amount of money they'd make on the deal means they probably wouldn't want to do it anyway.

2. Find a British insurer with an agreement with a German insurer. I've tried loads of companies already with no luck. I'm particularly limited here because not many companies want to insure an M5 anyway (at least not for prices that won't complete break the bank).

3. Find a broker who doesn't point out that I'm not covered whilst in Europe and hope that the small print doesn't arrive before I set off to pick up the car. If I'm then unfortunate enough to need to make a claim that isn't covered, I sue the broker if the insurer refuses to pay up. This sounds like a major pain in the arse, not a guarenteed solution and not a particularly nice thing to do.

I need to get this sorted out as soon as possible (i.e. today), so if anyone has any answers I'd be very grateful.

Cheers,
Phil.

Gus

try Norwich Union

Stevemj

Hope you sort your problem out Phil, sorry I can't help you. But I would be very interested how you get on as I am importing a M5 from Germany in January 2001.

Ashley

I have had exactly the same problem with all the cars I have imported from abroad. As you state the trade plates offer 3rd party, but that is about as much use as a chocolate fireguard when that lorry rolls into your 4 pipes as the Shuttle lurches to a halt in the tunnel!
I have dealt with a Swiss company who were prepared to offer the insurance, but this has since been withdrawn. Reason not given and it was V. expensive. My advise is speak to Norwich Union, I know, it's unusual for a big company to be of any use in unusual circumstances, but they have been pretty flexible with my insurance requirements.
Good luck.

pspencer

I've just tried Norwich Union. Unfortunately, their best quote (even including the 10% discount for using the internet to initiate things) was £590 more than the best I can get elsewhere. With the £500 excess that everyone wants, it looks like I would need to do at least £1100 worth of damage (what a horrible thought) to make it worth my while taking out the Norwich Union policy! Since I will only be in danger for 24 hours, perhaps the risk is worth taking. It's just a shame that since I'm flying out to Germany, I won't be able to take a sawn-off shotgun with me to protect the Beast from theft whilst in Europe. :-)

Any other suggestions?

Cheers,
Phil.

markf

Phil
Picked up my car yesterday from Hammer.With regard to the Insurance aspect to be honest I was totally unaware and told my broker I wanted cover for Europe,but he placed me with Norwich Union whom I have a fleet policy with so I assumed all was OK.Have you had a better quote than NU and if so with whom as my premium is ridiculous.Good luck and enjoy it is an awesome car.
Regards
Mark Franks

Dux

Nowell and Richards.
01785 255514.
Excellent agent that is underwritten by NU.

JohnH

N&R are great and I have insured my last 3 cars (M5, E55, 911) all with them and NU. They have always been the cheapest even than going to NU Direct. Of course if you find somewhere cheaper let us know.

pspencer

The best quote I could get from Norwich Union Direct was about £1700. In the end I ended up going with Axer (used Silverstone as the broker - they have adverts in the back of most UK car magazines) and they charged me £1050. I live in a small village (lowish car crime rate), I'm 30 (my wife's 30 and she's on as a named driver), have a full no claims bonus and the car will have a tracker fitted.

I'm pretty certain I wasn't covered driving back to the UK, but there were no problems. Now it's back, I have to wait to get it registered before I can drive it again. The fun starts in about 10 days...

Cheers,
Phil Spencer.