My car + Car insurance - is it worth it?? What happens if i cancel the ins??

James07

James07

James07

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Im thinking about cancelling my car insurance and selling my car, the money i raise i will buy a bicycle to ride to work and back (roughly 7 miles)..

The car is worth roughly £300, its got ruse on the bonet, the side panel by the door is all scuffed where the door caught it for months before i stuck a chisel and bent the panel out enough, its gonna need a few jobs doing, roughly 370-80ish to repair, the red is dying pink in the sun its got zero street cred but it does get me from A to B and it is very reliable.

Now the main thing is, the insurance, its costing over 2K a year and thats the cheepest i can find, its a complete joke, £220 a month, i earn just close to 1k working 2 jobs and 70 hours and with petrol, board and my phone i just dont have much left after..

The excess is £250 and i have to pay the first £200 of any damage, so id never ever claim as its not justifyable and if i do loose or right off the car for what ever reason then they wont even give me what its worth, or even close to what ive put into it!

So my question is, is it worth it?

If i cancel my insurance before tuesday (when my nxt payment is due) what will happen? What will i have to pay?

Cheers,

James.
 
Not at all, its the prices most people are getting, first time drivers etc, but it is bradford which is high for vehicle crime..

Im in Denholme which is like an outskirt.. Even then its still high.. My mate insured it for 1800 but he paid it at once so had no extras.
 
James07 said:
Not at all, its the prices most people are getting, first time drivers etc, but it is bradford which is high for vehicle crime..

Im in Denholme which is like an outskirt.. Even then its still high.. My mate insured it for 1800 but he paid it at once so had no extras.
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I understand, but when the value of the car is that low high prices cannot be justified in case it gets "stolen." In fact vehicle crime should play little part in insurance prices when the value of the car is low. Anyway mate don't want to ruin your thread with another insurance debate, as you've said before... us young drivers just have to accept it and pay up, much to our chagrin :D
 
scott212 said:
I understand, but when the value of the car is that low high prices cannot be justified in case it gets "stolen." In fact vehicle crime should play little part in insurance prices when the value of the car is low. Anyway mate don't want to ruin your thread with another insurance debate, as you've said before... us young drivers just have to accept it and pay up, much to our chagrin :D
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I wouldnt mind paying it at all dude, if the car was worth it, if i had a nice little focus or something..

Instead im driving a 15 year old car thats worth £300, runs okay, but looks totally crap and is just a joke at times.
 
James07 said:
I wouldnt mind paying it at all dude, if the car was worth it, if i had a nice little focus or something..

Instead im driving a 15 year old car thats worth £300, runs okay, but looks totally crap and is just a joke at times.
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Sorry to state the obvious but I take it you've tried Bell and added family relatives as named drivers?

We've had our arguments but at the end of the day it's a joke. Age aside, society fails when you have to pay almost 7 times the value of the insured item to insure it, and they wonder why there are so many uninsured drivers?

In your position I'm not sure I could justify that much on insurance unless I got unparalleled excitement from driving the car.
 
If i was 17 and 2k+ was the absolute cheapest insurance i could find on the cheapest car. Then, i'd probably front for a year or two until i was older. Those prices are nothing but naked profiteering, i don't see how they can be justified.
 
ganesh said:
If i was 17 and 2k+ was the absolute cheapest insurance i could find on the cheapest car. Then, i'd probably front for a year or two until i was older. Those prices are nothing but naked profiteering, i don't see how they can be justified.
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Especially when you don't get anything near what you paid for the car due to the excess. The insurance companies fight to the death to get out paying you.

Hi James :p
 
James07 said:
This is something that needs bringing to the the papers, the govt and insurance compaines are getting away with what you call "naked profiteering".. which is right, they are because no one will claim as its not worth the money and added premium.
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What can you do though? They will always throw completely irrelevant and immaterial "statistics" and "you're a young driver" claims back in your face. I'm sure at some point something will be done.
 
First off, you're paying monthly, that's always a LOT more expensive than per annum, secondly are you on TPFT or FC?, thirdly if you cancel the payment, they will chase you for it, unless you've already agreed to cancel the policy, which you haven't.

I cancelled a policy over the phone, and then stopped the direct debit from coming out, they automatically tried to chase me for the money, but after speaking to them on the phone and sending them the relevant paperwork they stopped chasing. This means if you cancel the payment, they will still chase you for it, and you'll have to pay it.

Whilst you may think it's a complete joke etc. you are the one that got yourself into the mess, not the insurance company, or anyone else. You chose to have a car and to take out the policy, they just gave you a figure they are willing to cover you for, you accepted it by taking out the policy, so it's not their fault at all. It's also not their fault that young drivers have accidents that they have to pay out for, or that modern culture means people will claim for whiplash etc. when they don't have it which drives up everyone's premiums.

Also the insurance isn't just for the price of your car, it's the damage you could do to someone else's car/house/family etc.
 
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Having regularly witnessed the general standard of driving in bradford his premiums are entirely justified, once you cross the border from leeds you are taking your life in your hands :p
 
Er hello? A Punto can still write off a Bentley, insurance is about covering you for damage to your car and more importantly the damage you cause.
 
Something has to be done about whiplash.

I thought perhaps they could say that if you make a whiplash claim you're not allowed to drive for a year, but then that would disincentivise people who actually suffer whiplash from making a claim as well as prevent fraudulent claims.
 
named driver if that dnt work then diff postcode. u got a older brother? u could always get it on his name...
 
B&W said:
named driver if that dnt work then diff postcode. u got a older brother? u could always get it on his name...
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Did you even read the thread?

He's not got a renewal, he has monthly, you can't change a policy mid term...I won't bother to go into fronting.
 
not really, thats a big excuse. theyre just another business trying to maximise there profits.
 
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