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Discussion Starter #1
Gents,

Just had a interesting off-line conversation with Ashok with regards to
delivery and insurance.

1) Does anyone know when insurance companies will update their
systems to include the E60 M5 for quotation purposes. I just tried
getting a quote on directline and admiral but their systems reference
the E39 M5. Maximum car value they will insure is 50k...mine is 70k.

Any ideas where I can get a quote from. I am sure we will all face this
problem.

2) Will imports get to the UK before the UK offical launch date of the 19th
of May.

My dealer told me today my car will physically be here April but can not
give me the car until the 19th.

Ashok made a interesting notion that if imports do get here before the UK
cars they would have insurance problems and servicing issues if they drive
into the dealers before the 19th requesting a 1200 run in service.

I sold my two import slots but have no idea what the delivery is for them. I
will find out tomorrow. In Ashok's case he's getting the individual so he'll
get his after the 19th May anyway.

Just interested to know if imports will be on the roads before the UK cars.
 

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Ghufran said:
Gents,

Just had a interesting off-line conversation with Ashok with regards to
delivery and insurance.

1) Does anyone know when insurance companies will update their
systems to include the E60 M5 for quotation purposes. I just tried
getting a quote on directline and admiral but their systems reference
the E39 M5. Maximum car value they will insure is 50k...mine is 70k.

Any ideas where I can get a quote from. I am sure we will all face this
problem.

2) Will imports get to the UK before the UK offical launch date of the 19th
of May.

My dealer told me today my car will physically be here April but can not
give me the car until the 19th.

Ashok made a interesting notion that if imports do get here before the UK
cars they would have insurance problems and servicing issues if they drive
into the dealers before the 19th requesting a 1200 run in service.

I sold my two import slots but have no idea what the delivery is for them. I
will find out tomorrow. In Ashok's case he's getting the individual so he'll
get his after the 19th May anyway.

Just interested to know if imports will be on the roads before the UK cars.
Try Liverpool & Victoria
 

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I have got a quote from Norwich Union although they have advised that because delivery will be after June the price may increase slightly. I assume this is when they review their premiums?
 

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MPWR said:
I have got a quote from Norwich Union although they have advised that because delivery will be after June the price may increase slightly. I assume this is when they review their premiums?
Could it be that they only have the E39 on their system at the moment and in June the E60 premium quotes will finally become available (after UK launch)??
 

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Have you tried BMW Insurance?

I have my insurance with them and they quoted me earlier in the year, if i remember correctly I think the only increase was to cover the higher value of the new M5.

Also if the car is les than 12 months old and anything happens they will give full value to replace the car. Not that you will find one at list:(
 

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Discussion Starter #6
HomerUK said:
Have you tried BMW Insurance?

I have my insurance with them and they quoted me earlier in the year, if i remember correctly I think the only increase was to cover the higher value of the new M5.

Also if the car is les than 12 months old and anything happens they will give full value to replace the car. Not that you will find one at list:(
never thought of using BMW insurance. I'll call my dealer in the morning for their number. Quotes must be higher than E39. I'm still getting quotes for
£1200 for the E39 yet my E46 M3 Convertible was only £900.00.

I think they would charge me £1500 for the E60 M5. Just turned 31 - thought insurance would go down but it hasn't. Maybe have to wait
until 35 to see a real difference in premiums !!!!
 

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A few tips I've used to help lower premiums:

- Only have named drivers on the policy (e.g. I have my wife & I). Do not choose "any named driver" which is a default clause on many policies. This is one thing that I changed and it dropped my premiums by half overnight.

- If you do not intend to use the car during trackdays, choose a polcy which excludes trackday use.

- If you have a no claims bonus (NCB) make sure that you get it "protected". For a very small extra fee your NCB will remain intact even if you have make claims.

- If at all possible keep the car in a locked garage. Fit an insurance improved tracking device and notify the insurers to earn an additional discount.

- Do inform your insurance company of any modifications and get a letter from them confirming acceptance. In many cases "minor" modifications such as aftermarket exhausts will not increase your premium.

- Every year at renewal time make sure you declare the current market value of the vehicle as this will affect the premium you pay. If you bought the car new for £60k and it's only worth £25k now why pay for £60k of cover - in the event of a loss the insurers won't pay the full £60k and you'd be paying over the odds for nothing.

- If you have more than one car put all the cars on one "multi-car" policy which usually reduces the premium per vehicle as insurers offer bulk discounts.
 

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I was told the quote was for the E60, the quote was £500 cheaper than my 911 C4S which was a surpprise:M5thumbs:
 

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Ashok Arora said:
Every year at renewal time make sure you declare the current market value of the vehicle as this will affect the premium you pay. If you bought the car new for £60k and it's only worth £25k now why pay for £60k of cover - in the event of a loss the insurers won't pay the full £60k and you'd be paying over the odds for nothing.
This is true. But I've noticed that my insurance schedule has the value of vehicle as "market value". Obviously another way of insurance companies trying to get out of paying money in the event of a write-off.
 

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One thing you need to be aware of is that the NCB protection will only protect you with that insurer if you move somewhere else and they will ask if you have had any accidents in the last 3 years and this will then affect what you pay.
 
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