The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
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We compare the offerings of several insurers
An adviser checks whether the cover suits your situation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
The M3 is a four-door saloon that can be driven as an everyday car and has at the same time been developed for the circuit. That dual role is precisely what makes the policy difficult. For commuting and the holiday run, ordinary own-damage cover is fine. As soon as you drive onto a circuit, that cover stops, even where there is no competition and you only drive laps on a track day.
The second point is the car itself. A lot of work is done on the M models: a different exhaust, modified engine management, different suspension, different wheels. Every change that alters the power or the handling is information the insurer needs. Article 7:928 of the Dutch Civil Code governs the declaration when the policy is taken out. For a change during the term, the duty to report in your conditions applies. If it is not reported, the insurer can rely on Article 7:930 of the Dutch Civil Code.
Third, the value. Sought-after generations no longer fall in price, whereas a market value assessment after the event starts from the average market. With a valuation report under Article 7:960 of the Dutch Civil Code the amount is fixed in advance. The coupe version, with a different pattern of use, is covered at Insuring a BMW M4.
The structure of the cover in three parts, with an overview per situation below.
Compulsory by law
Third-party liability insurance
Damage you cause to others with the vehicle. Not your own vehicle.
Damage to other vehicles
Injury to third parties
Damage to objects
Most chosen
Third-party liability + fire and theft
Also, damage to your own vehicle from external causes.
Theft and burglary
Fire, storm and hail
Windscreen damage
Collision with animals
For higher values
Comprehensive cover
Including damage to your own vehicle through your own fault.
Own fault and single-vehicle accident
Vandalism
Unknown party at fault
Total loss
What is covered
Situation
Third-party liability
Third-party liability + fire and theft
Comprehensive
Damage to another vehicle
Yes
Yes
Yes
Theft of your BMW M3
No
Yes
Yes
Windscreen damage or stone chips
No
Yes
Yes
Storm, hail and fire damage
No
Yes
Yes
Driving into a bollard yourself
No
No
Yes
Track use, wear and intent
No
No
No
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
Circuit, track day and driver training
Most conditions exclude driving on a circuit or a closed site, whether or not times are taken. Speed and skill events are usually listed separately. Training with an instructor on circuit grounds often falls under it too. If you want to use the car on the track, take out separate circuit cover per day with a specialist provider. Your ordinary policy simply continues for the journey there.
Report changes to the engine and suspension in advance
An increase in power through the engine management changes the risk the insurer accepted. The same applies to different suspension, larger wheels or a particulate filter or silencer that has been removed. Report it in writing and have it put on the policy schedule. If a loss adjustment shows that the car differs from what was declared, that is an argument you will no longer win at that point.
A valuation instead of market value
A valuation report from a recognised expert fixes the value in advance; Article 7:960 of the Dutch Civil Code makes that binding as long as the report is valid. Such a report has a limited period of validity, often a few years, and has to be redone after that. Have the car valued with photographs of its condition, the odometer reading and the options fitted. Without a report the insurer pays out in a total loss on the market value a loss adjuster establishes afterwards.
Where the policy stops
Not covered are: taking part in competitions and speed events, driving under the influence or without a valid licence, and damage through intent or wilful recklessness (Article 7:952 of the Dutch Civil Code). Wear also falls outside it, and on this car you notice that sooner than on others: tyres and brake discs are consumables, even if they are used up in one hard weekend. Hire and shared use are excluded as standard.
Repairs and parts
Circuit use is excluded, including on track days. There is separate day cover for that.
Acceptance differs per insurer
Not every company applies the same policy for this make. With unusual versions, the question is not what it costs but who will accept it.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
You may drive, but your car insurance does not cover it. Almost all conditions exclude use on a circuit, even without timing. If damage arises on the track, you bear it yourself, and damage to another participant does not fall under your third-party liability cover either. There are separate circuit covers per day or per event; take one out before you drive onto the site.
I have had a power upgrade fitted. Do I have to report it?
Yes. Modified engine management increases the power and with it the risk the insurer assessed. Report the change in writing and have it recorded on the policy schedule. If you do not, the insurer can rely on Article 7:930 of the Dutch Civil Codeafter a claim. Some companies accept the modification without more; others only with an inspection report.
Why should I have a valuation report drawn up?
Because afterwards is too late. Without a report a loss adjuster establishes the market value after the claim, and on a car where the market varies that can differ substantially from what you paid. With a valuation the value is fixed in advance under Article 7:960 of the Dutch Civil Code. Watch the period of validity of the report and have it renewed in good time.
Are tyres and brakes insured?
Only if they are damaged by a covered event, for instance in a collision or through vandalism. Normal wear is not, however fast it goes on this car. A tyre split by a kerb often does fall under own-damage cover, with a deduction for the remaining tread depth. Ceramic brake discs worn out after intensive use are a maintenance item, not damage.
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
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