insurance experts - zero ncb?

[ThriceNightly]

i'm 41yo and am looking to get insurance on an 03 Skoda Octy VRS (group16)

the car will cost approx £2500

1. should i insure it comp or tpf&t at that price

2. If comp what do insurers pay in event of total loss - price paid or book value of £4000

3. NCB - I have not had a day to day car for approx 9 years, and therefore have no official NCB. Based on 0 ncb they want approx £500! to insure comp.

I do however have a classic insurance policy which covers a 1981 mini no claims in 6 years - the policy only costs a £100 a year but is not based on ncb as such. also I have 9 years claim free driving in a company transit van.

Do you reckon insures for the octy would accept a letter from my classic broker confirm 5 years ncb?

 

[Sone]

my old man got NCB when he left the company car scheme with a letter from the company secretery so you never know. (being a director it was also a questionable recollection of the truth).

I would insure it TPFT, but its all down to your personnel circumstances and cost differance. I paid £2500 for my car and went full comp as the differance was nothing.
Insurers normally pay out the value to replace the car so slightly above book but less than you paid.

 

[ThriceNightly]

^^ thanks for reply

my old man got NCB when he left the company car scheme with a letter from the company secretery so you never know.

i am not a named driver on the company van insurance - anyone can drive that vehicle although itis in my posssion 99.99% of the time

I would insure it TPFT, but its all down to your personnel circumstances and cost differance. I paid £2500 for my car and went full comp as the differance was nothing.
Insurers normally pay out the value to replace the car so slightly above book but less than you paid.

theres a good £150 difference between comp and tpft

with regard to what insurers pay ou for total loss book price is £4k but purchase price intodays market is £2500. so yu are saying they would pay out £2500 max?

 

[Hxc]

You won't be able to transfer the classic policy accross unfortunatly, no NCB with them :/

Try Bell.co.uk, they tend to quote pretty well.

 

[Gribs]

theres a good £150 difference between comp and tpft

Shop around then or increase the comp excess. I generally find comp cheaper with a big excess than tpft.

with regard to what insurers pay ou for total loss book price is £4k but purchase price intodays market is £2500. so yu are saying they would pay out £2500 max?

If it could be replaced with a similar car for £2.5k then that's what they'd pay out.

 

[[TW]Fox]

£2500 seems very cheap for an 03 Octavia vRS?

 

[gareth.e]

£2500 seems very cheap for an 03 Octavia vRS?

You're right... got a linky to the add? (I'm not going to steal it )


And £150 isn't a lot of money between the two..

What's the excess on the quote?


(I would probably go fully comp)

 

[stoofa]

03 Octavia vRS is the Mk1 version.
However £2500 seems an incredibly good price for one.

Have you been to look at it etc?
It's just bordering on one of those "too good to be true" situations.

 

[Lum]

Did you have personal use on that company van? If so get a letter from your boss stating as such and many insurers will count it as NCB.

As for the payout in the event of a total loss they will either send out an assessor and/or determine the market value at the time, which usually involves a quick search on autotrader. Some companies let you negotiate with the assessor some do not.

In any case, it pays to be nice to the assessor, when my 99 Legacy B4 got written off I was prepared with printouts of most of the adverts I could find which put the value at around £6000 and then the only two adverts for the automatic version I could find which were both £1000 above the equivalent manual, thus the assessor concluded that my car was worth £7000. I had previously failed at selling it for £4500 (it's been rear ended a lot of times but insurance don't take that into account)

The next job was getting it written off, and again I'd prepared a nice bullet pointed list of all the things I thought were wrong with it and the assessor went through them, checked all the easy ones that didn't involve getting under the car then decided that I was being honest and he'd take my word for it on the rest of them rather than crawl under the car, he also found a few more (genuine) things wrong with it once he realised I wanted the car writing off.

I'm sure if I'd been unhelpful and argumentative then the result would have been no-where near as satisfactory.