Altered insurance

[coolguy]

I purchased an F30 330d M Sport in August of last year. My insurance increased from £380 for an Audi A4 3.0 TDI Quattro B7 to £890 for the new vehicle, which was entirely standard. I was quite frustrated. In summary, after making some modifications, I obtained quotes for renewal. The standard renewal quote was £1,100 with Aviva, despite having 10 years of no claims bonus and 19 years of driving experience. Unblemished licence. Repugnant.
Obtained several online quotes; the lowest was £4,000. I contacted Adrian Flux and received a quotation of £1400, which includes a remap, induction system, and larger front-mounted intercooler. I remain dissatisfied; I have obtained numerous further quotations, although most providers do not respond. I contacted Keith Michaels, who quoted £895. Insurance is a fraudulent scheme; yet, I consider it expensive. They insured a WRX import with numerous improvements, producing 340 horsepower, for £450 five years ago, despite my limited no-claims bonus and being a first-time owner of a modified, more powerful vehicle.

[torque2me]

I do not believe that insurance is a fraudulent scheme. We are primarily victims of individuals who fail to insure their vehicles or disclose modifications (commendations to you for doing so), subsequently leading to claims made by these individuals—resulting in insurers incurring losses due to the absence of paid policies to support the claims. Consequently, prices increase for all others to mitigate the disparity. In the past five years, that issue has intensified significantly.

I transitioned from a four-year-old AMG C43 to a brand-new M340i, resulting in a decrease in expense, despite the vehicles being comparable in performance.

[coolguy]

The issue is that insurance is calculated based on the vehicle. It is not the individual I consider erroneous, as the substantial production of BMWs implies a higher incidence of accidents, thereby elevating their market value. I have received bids for several high-end exotic vehicles, and the costs were astonishingly low. I can insure a £250,000 Ferrari Dino for cheaper than my £9,000 BMW.

[johnnyb44]

Statistics indicate that vehicles such as BMWs and Land Rovers frequently rank among the most stolen cars, prompting insurance firms to adjust their pricing, particularly in areas with high theft rates.

[neilrr010]

Your location will influence the cost.

[MDMH757]

Indeed, other things are involved; it is not solely the vehicle. The driver is also considered regarding accidents, claims, and points. The risk algorithm employed by insurers is substantial.

[Psychil]

Typically, premiums are computed via the numberwang principle.