First Central Car Insurance - Beware.

  • Thread starter Thread starter smr
  • Start date Start date

smr

smr

smr

Soldato
Joined
6 Mar 2008
Posts
8,801
Location
Leicestershire
Right guys,

Around this time last year I took up cover with First Central Car Insurance, fully comprehensive, paying them a deposit of £110 and installments of £52.

At the time of me joining them I had no claims bonuses.

A week ago I received a renewal letter from them stating :

"You can pay as a one off payment of £759.69, or by installments as follows:

DEPOSIT £151.94 + 10 monthly repayments of £66.25 = Total Payable £814.39.

This obviously confused the hell out of me, so I rang up and spoke to a guy that couldn't give/string a coherent explanation / answer together even if it meant saving the third world from starvation.

I know there has been a VAT increase, but considering even the renewal letter states "based on the policy holder having 1 years ncb on the 11th Feb" and the insurance has risen so dramatically...

I'm older, had no accidents with them and got a 1 years NCB now and they reward this by trying to milk me... and I thought (if I remember correctly) that you only pay the deposit when joining the insurer ... not every year?

Stay well clear.

Also, on the subject of car insurance, I've noticed it would be cheaper to insure my car if my Dad was a named driver, (and even Mum ?) .. what are the implications of this for my Dad if I was to put him as a named driver?

Thanks...
 
Hardly a 'beware', that's standard practice.

Just add your parents, doesn't affect them at all, and it's handy because they'll be fully covered if they ever want to drive your car

Shop around, you get money off for paying it all in one lump sum. I put mine on my credit card, and will pay it off over 2 or 3 months. Went from £640 to £480 just for paying it out in one go
 
bledd. said:
Hardly a 'beware', that's standard practice.

Just add your parents, doesn't affect them at all, and it's handy because they'll be fully covered if they ever want to drive your car

Shop around, you get money off for paying it all in one lump sum. I put mine on my credit card, and will pay it off over 2 or 3 months. Went from £640 to £480 just for paying it out in one go
Click to expand...

Yeah I will be paying in one sum now. I just don't understand it... I've been with a few insurers since my 8 years driving and never had a renewal quote go up... always down.
 
welcome to the world of ever increasing insurance costs.

my taxi insurance jumped by 15% despite an extra years no claims :(
 
Well it's being called a deposit - it sounds like it's actually just an increased first month payment.
I've not paid monthly for a long time because 99% of places will charge you interest on paying monthly.

Insurance has to be paid up front.
So when you buy insurance on a "pay monthly" basis, your premium has been paid and you are basically paying back a "loan" for your insurance.

If my premium was £800.
I might expect to pay £100 - £150 in the first month and then the remainder (plus interest) over the next 11 months.
 
Long gone are the days the brokers would only bung an extra tenner on if you paid over say 3 installments, they use credit companies now, so it is like paying back a loan for a year. Gonna pay it in one go next time & make sure I find the cheapest quote on a comparison site when it's due & my broker will match it, I usually do that but didn't last time, had a lot happening so just let them renew it for another year. Never again. It does seem way loads dearer this year & I am 40 now!
 
Some will ask for another deposit + 10 months installments and others will just split the premium over 12 months.

Adrian Flux always ask for another deposit but direct line don't.
 
My renewal quote from Bell was by far the cheapest quote I could find. Horses for courses. People complain louder.
 
It's law to replace your tyres when they get to a certain wear level... I guess this is the government making it law to invest in tyre companies too?
 
You must log in or register to reply here.
Back
Top Bottom