Insurance renewal coming up...

Six6siX · 7 May 2006 at 19:45

My insurance renewal is due at the beginning of June so I have started doing a few online quotes, and I'm a bit annoyed.

Cheapest FC quote I can get is just over £1900!

Car is a 306 DT, I'm 20 with more than 1 years driving experience but no NCB due to 1 minor fault claim in december last year, and live in a decentish postcode.

If I take the accident off the quote, it basically halves to about £950 odd.

Why??? When my friend who has a higher inurance group car, 2 far more serious fault claims and lives about 5 mins from me (but diff postcode), gets a quote of £1200 FC. :mad:

Anyone got any advice/suggestions?

Nazbit · 7 May 2006 at 19:48

Thats the way it goes im afriad, that does sound a tad high though, I think a little more shopping around is in order?

Chris1712 · 7 May 2006 at 19:51

Try admiral and elephant. I'm 18 with 1 years xp, 0 ncb due to one fault claim, insrued fully comp on an Astra 1.8SXi for £1280. I had the 306 DT un until friday, insured TPFT for £790. Put your parents on it aswell.

[TW]Fox · 7 May 2006 at 19:51

It's a Phase 1 306 - insure it TPFT.

Six6siX · 7 May 2006 at 19:53

Yeah, I'm still looking around.

That quote was from Zurich iirc but I've had some stupid ones like Norwich Union: £5500...

Also, what are people's opinions on paying monthly as opposed to annual - pros/cons etc. Are the any major benefits or is it a case of, if you can pay annual do it and miss the interest?

[TW]Fox · 7 May 2006 at 19:56

Six6siX said:
Also, what are people's opinions on paying monthly as opposed to annual - pros/cons etc. Are the any major benefits or is it a case of, if you can pay annual do it and miss the interest?

All you do when you pay anuallly is have the insurance company 'loan' you the money and you then pay it off - it is, legally, simply a loan for the amount of the policy. You are not paying for the insurance itself monthly.

Six6siX · 7 May 2006 at 19:57

Chris1712 said:
Try admiral and elephant. I'm 18 with 1 years xp, 0 ncb due to one fault claim, insrued fully comp on an Astra 1.8SXi for £1280. I had the 306 DT un until friday, insured TPFT for £790. Put your parents on it aswell.

Tried both those - got something like £2100 ish.

Also tried putting my dad on the premium too (mum doesn't drive), and that actually put the price UP :eek:

Fox said:
It's a Phase 1 306 - insure it TPFT.

In the quotes I've done so far, TPFT drops the quotes by about £100-200. Not worth it imo.

daveski · 7 May 2006 at 19:57

Six6siX said:
Yeah, I'm still looking around.

That quote was from Zurich iirc but I've had some stupid ones like Norwich Union: £5500...

Also, what are people's opinions on paying monthly as opposed to annual - pros/cons etc. Are the any major benefits or is it a case of, if you can pay annual do it and miss the interest?

Just don't do what I did - get a better renewal quote then crash your car. Ive only ever paid insurance monthly but if i had the money I would pay it all at once.

timbob · 7 May 2006 at 19:58

Don't pay monthly if you can possibly afford to do it in one go.

I was entertaining the idea this year for my Cavalier. The quote was £449 3rd party, F&T. If I was to pay it monthly, the total cost to be repaid over the year was about £590 - one hundred and forty quid more, or a 33% extra on the policy. Needless to say, I said no, and paid it all in one go!

[TW]Fox · 7 May 2006 at 19:59

Six6siX said:
In the quotes I've done so far, TPFT drops the quotes by about £100-200. Not worth it imo.

Of course its worth it, as you'll never claim under a comp policy will you.

You've got a 10 year old 306 which is worth what, £1000?

You take out a comprehensive policy at an additional £200. You have an excess which, given your age, is probably at least £400.

So if you claim, it's costing you a MINIMUM of £600 - the excess and the fact you'd have saved 200 quid had you gone TPFT. Then you lose your NCB and have a claim to your name, which will cost far more in the long run.

TPFT on cheaper cars = not worth it unless the cost difference is, literally, virtually nil.

Six6siX · 7 May 2006 at 20:05

[TW]Fox said:
Of course its worth it, as you'll never claim under a comp policy will you.

You've got a 10 year old 306 which is worth what, £1000?

You take out a comprehensive policy at an additional £200. You have an excess which, given your age, is probably at least £400.

So if you claim, it's costing you a MINIMUM of £600 - the excess and the fact you'd have saved 200 quid had you gone TPFT. Then you lose your NCB and have a claim to your name, which will cost far more in the long run.

TPFT on cheaper cars = not worth it unless the cost difference is, literally, virtually nil.

Never thought about it that way,

I see your point, and I think you may have convinced me that FC is of no use to me

That then brings my lowest quote to about £1700 TPFT. Its getting lower...