[BanziBarn]

Hey peeps,


As per title really. Someone has told me it's best to pay monthly even though it works out more over the year because if you don't, it'll be more expensive next year when I renew.

Anyone know if this is true?

Thanks!

[doughboy]

Eh?

Its a 1 year insurance product, which renews (goes up) every 12 months, whether you pay monthly or otherwise?

You'll pay interest too for monthly just as with car insurance.

[pjs]

Originally Posted by BanziBarn

Hey peeps,


As per title really. Someone has told me it's best to pay monthly even though it works out more over the year because if you don't, it'll be more expensive next year when I renew.

Anyone know if this is true?

Thanks!

It's true. Took mine out in Oct 2010 approx 45k miles, still paying the same at 85k miles now. £48/month for zero excess full monty. Level of cover reduces at 100k miles though. Costs much more if you take out after 60k miles though, and the small print does say they reserve the right to increase it. It's saved me thousands!

[BanziBarn]

I'm no where near 60k miles, I'm only at 21k and do 8k per year. So do you think I'm safe for paying the same next year?

Thing is, I always pay up front to avoid interest and so this issue didn't occur to me.

So, by the sounds of it, it's best to pay monthly if you are going to go over a threshold mileage, say 60k?

[doughboy]

Originally Posted by pjs

It's true. Took mine out in Oct 2010 approx 45k miles, still paying the same at 85k miles now. £48/month for zero excess full monty. Level of cover reduces at 100k miles though. Costs much more if you take out after 60k miles though, and the small print does say they reserve the right to increase it. It's saved me thousands!

Maybe the terms offer a fixed price deal for monthly direct debits as they reckon you're more likely to stay that way (like auto-renewals offer deals).

When you consider other insurance products, if sounds a good deal though if its staying fixed month after month....

[BanziBarn]

I guess I'll just have to see how much is costs me at renewal time I suppose.

[jimpom23]

As you say I think pay monthly if you're likely to go over the 60k, if not I would pay yearly

[dopper99]

Also the good thing about BMW warranty is that you can get a pro rata refund if you sell the car. I did this with my last 330d.

[jimpom23]

Originally Posted by dopper99

Also the good thing about BMW warranty is that you can get a pro rata refund if you sell the car. I did this with my last 330d.

That said, if you're selling privately, Warranty is a huge plus point

[BanziBarn]

Originally Posted by jimpom23

As you say I think pay monthly if you're likely to go over the 60k, if not I would pay yearly

Cool

[CJ92]

Just renewed my bmw warranty,comprehensive with emergency cover on my 330d.
57k on the clock came in at just £39 a month with a £100 excess.

Am well happy with that..

[BanziBarn]

Yep, that seems to be the standard price for cars up to a certain mileage.