Cancelling insurance.. How bad is it?

[Dom_capper]

So I've been with Greenlight for 3 years now and I'm very happy with them. The problem this time round is that I have an itch for a M135i in the coming months. I haven't even driven one yet and may hate it (probably not!), but it ticks all the boxes. Greenlight don't insure BMWs.

How bad for my renewals is it going to be if I was to go with Greenlight and cancel if/when a BMW happens?

What I like and would want from another insurer is the lack of admin fees and extra cost for things like mods, plate swaps etc, the low excess, options for track insurance, the person at the other end of the phone understanding what the mods are, 3rd party on other cars etc etc.

Every quote I've even done has asked if I have cancelled or had my insurance cancelled in the past. I appreciate insurance premiums are never black and white but has anyone ever cancelled and been stung?

 

[Matt Cup]

Correct me if I am wrong but isn’t it if the insurance company cancels on the policy holder for whatever reason that you have to notify future insurance co’s rather than you cancelling it mid term?

 

[Neil@greenlight]

the insurance companies online are asking if you have had a policy cancellation enforced this is when a company envoke cancellation due to fraud or other reasons.

In your case you are just outside the acceptance criteria so not classed as enforced cancellation and you as the customer are voluntary cancelling as we can’t cover your new vehicle. It’s the same if you sold your car and had to cancel it’s not an issue.

There’s a difference in having your policy cancelled by the provider compared to you Choosing to cancel 👍

 

[Mr Burns]

If you can afford a 135i don't worry about some admin fees here and there, surely it's not really an issue?

 

[Dom_capper]

If you can afford a 135i don't worry about some admin fees here and there, surely it's not really an issue?

Yeh it's not the admin fee's tbh, it's more charging silly amounts for mods or not covering them. I was told by one insurance company when getting a quote that they wouldn't insure me with wheel spacers till I was 30! Some of the above are non issues now I know I can jump ship without effecting premiums.


Thanks for all the responses chaps. Has put my mind at ease.

 

[Mr Burns]

Stick with insurance companies who specialise in performance/modified cars and go from there. Try calling the most commonly known companies and I'm surely you'll strike a deal with someone.

 

[plenty]

If you can afford a 135i don't worry about some admin fees here and there, surely it's not really an issue?

Regardless of what we can afford, not having to spend money unnecessarily is a wise way to be

 

[Mr Burns]

Regardless of what we can afford, not having to spend money unnecessarily is a wise way to be

I agree, but we also live in a society where people spend way beyond what their wallet will allow. I'm not saying the OP lives this way but I know a few of my friends do. You know where I'm coming from I'm sure!

 

[plenty]

I agree, but we also live in a society where people spend way beyond what their wallet will allow. I'm not saying the OP lives this way but I know a few of my friends do. You know where I'm coming from I'm sure!

I think we're saying the same thing but coming from different angles. What I'm trying to say is that even if you can afford to spend on something, doesn't mean you should if a cheaper and equally viable option exists. Without wishing to sound boastful I could (and have) owned far more costly cars but I choose to run a Clio because it gives me everything that I need and is cheap as chips to own. I live in an area where most people shop at Waitrose or get Ocado delivered, but I choose to travel slightly further to Aldi and Lidl because frankly I enjoy saving money. (I'm not from Yorkshire or from Scotland but I feel very at home in those places )

 

[Mr Burns]

I think we're saying the same thing but coming from different angles. What I'm trying to say is that even if you can afford to spend on something, doesn't mean you should if a cheaper and equally viable option exists. Without wishing to sound boastful I could (and have) owned far more costly cars but I choose to run a Clio because it gives me everything that I need and is cheap as chips to own. I live in an area where most people shop at Waitrose or get Ocado delivered, but I choose to travel slightly further to Aldi and Lidl because frankly I enjoy saving money. (I'm not from Yorkshire or from Scotland but I feel very at home in those places )

We're definitely singing from the same hymn sheet. I'm exactly the same in regards to being tight, sorry... Saving money!
I drive a little Swift Sport out of choice rather than financial constraints. I'd quite like something fancy but with British weather and the publics general disregard for other people's property I'm quite happy to own a car I don't stress about.

 

[gavinf91]

try brentacre or pace ward, i’ve used both and they are both very good in regards to the stuff you’ve mentioned.

 

[DAN@ADRIAN FLUX]

Hi.
When you're ready if you need any help with insurance at all then please feel free to drop me a line.
Regards,
Dan.

 

[Greeny.]

Just to butt in, get one they amazing little cars and the power is totally not required on public roads but who cares? 🤪

 

[RustyMojo]

Hi.
When you're ready if you need any help with insurance at all then please feel free to drop me a line.
Regards,
Dan.

@DAN@ADRIAN FLUX need to sort the insurance out on my 182, is it best to Pm you through here?

 

[Wellsmc]

you can get a quote for insurance at aANY time - use the compare the meerkat or whatever to give you an idea of the cost, then start looking for the best deals, also try Performance Direct (my trackday clio is with them), Adrian Flux or Lancaster - just remember the total cost of the car includes insurance, so work your total budget based on all the costs, msot good insurance companies will allow you to do some minor mid-term adjustments (MTAs) e.g. extra drivers whatever free online, some bigger changes e.g. mods will require admin fees and changed premiums. BTW having owned an M140i up until recently - if you can stretch to it get one of these as they are significantly better than the M153i ( although still a great car) , stiffer body and suspension re-tuned plus more torque and bhp