TPFT: Worth it?

shifty_uk

shifty_uk

shifty_uk

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Hey guys,

Just a quick question here. As many of you may remember when I initially bought my car I was being quoted ridiculous amounts, infact I ended up taking out a policy worth £1,800 with an £850 excess. Yes, I hunted for weeks and this was the cheapest I could get.

Now, I missed a payment this month because there wasn't enough in the bank to cover it. Ok, not a problem they said they'd take the money out on the 7th and I put enough in the account to cover it....they didn't, they ended up trying on the 23rd and there wasn't enough cash. Now they're saying they will cancel the policy on Tuesday(the 30th).

So, I decided I'd run some TPFT prices online as I'm skint right now and I've been quoted £600 from FluxDirect with GoCompare? Worth it?

Baring in mind I drive a 2002 reg Clio worth roughly £2k?

I'm 20 so next year the full comp should come down quite a bit, even without any NCB which I presume TPFT doesn't provide?
 
given the insurance policy is worth the value of the car

id say TPFT is probably worth a punt. You'd already have bought a new car by the year ends anyway, with the sum total of all your repayments.
 
You will still gain no claims with a TPFT policy, but it will be another 12 months from now until you get 1 year.

I'd have never taken £1800's worth of credited comprehensive cover on a £2k car anyway. You could have just pocketed the monthly payments and bought a replacement car in the event of crashing it. Should have gone for the TPFT cover from the off IMO.
 
Yes yes yes!!!

If you wrote off your Clio the combined cost of your premium and the excess would be more than you'd get back for the value of the car!

Ditch it if you can and go TPFT. My advice would be look at insurance like a tax until you have enough NCB to protect it at least.
 
It would still be October before I gained NCB on the car anyway.

MrLOL said:
given the insurance policy is worth the value of the car

id say TPFT is probably worth a punt. You'd already have bought a new car by the year ends anyway, with the sum total of all your repayments.
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I'm incredibly careful and have had no near crash experiences....well, one but that was through no fault of my own.

paradigm said:
You will still gain no claims with a TPFT policy, but it will be another 12 months from now until you get 1 year.

I'd have never taken £1800's worth of credited comprehensive cover on a £2k car anyway. You could have just pocketed the monthly payments and bought a replacement car in the event of crashing it. Should have gone for the TPFT cover from the off IMO.
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Before I bought the car my TPFT quotes were coming out MUCH higher than the Fully Comp. Believe it or not. :( I've no idea why they're so low now, perhaps my age, time since licence gained, occupation?
 
Dogbreath said:
That doesn't count for anything if some uninsured scrote smashes into your car and does a runner...
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thing is

the total of the years payments is the same value as the car.

so even if it does get smashed into

the total cost of repairing it plus the TPFT claim is probably going to be no more and possibly less than the fully comp policy.
 
I think TPFT is looking more promising tbh. It's just a shame I'm going to lose the 6-7 months NCB.

Before I purchased the car, I believe I asked this question however I'll be going for a new job which is still part-time but over 20 hours per week. Could I put this as my primary occupation (as I've not returned to Uni yet) to essentially lower the quote? GoCompare does have a box saying "do you work over 20 hours per week?".
 
Apologies for going on a bit, one last question:

As my policy has been cancelled due to no payment received last month, will I have to inform the new insurer of this and will it affect the premium?

:)
 
TPFT for the win. On a low value car with an inexperienced driver it's practically a no brainer. By the time you've got some experience under your belt the price difference between FC and TPFT will dwindle to next to nothing (I believe I could save £20 by going TPFT...)
 
Rightyho, I'll get these payments sorted out which isn't a problem and then cancel my policy, which hopefully won't cause any fuss and switch to TPFT.
 
I used TPFT for the first 8 or so years of my motoring. I only stepped up to FC once I had a car worth something, or more importantly one I'd put a buckeload of work into that I wouldn't want to repeat if someone decided to wreck it for me.
 
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