Insurance Win

Lucero said:
The car is not worth £15k +, certainly not in the eyes of your insurance anyway. The excess isn't always your call either. If you hit someone and do little damage to your car but nacker theirs and they want to go through insurance, you'll be paying out £900, there and then.

Admittedly, it's a gamble, but it's one that I don't always like the odds of :)
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What rubbish. You don't pay the excess for a third party claim, only for claims for damage or theft of your car.

You are on a roll today :p
 
Peerzy said:
That is very cheap, but surely a no brainer to get fully comp?
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I don't think it's really worth it. The car is probably worth about £2500 and the excess for fully comp is crazy. If I do throw the car through a hedge backwards, it will be dramatically cheaper to fix it myself with second hand parts than to have the insurance deal with it. And I won't lose my NCB.
 
I was going to ask a question actually, but didn't think it deserved it's own post. Last May I had a crash and admitted liability. Insurers paid to have my car repaired, all was well. Fast forward to now, and insurers have advised that the claim has gone 50/50.

However, after the crash I had to renew my insurance, so just put it was a full fault claim. Should I now ring Bell to tell them it went 50/50, or should I just wait until renewal time?
 
Lucero said:
But an insurance company will never ever give you what a car is actually worth. Surely you know this? Trade, at best.
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Years ago when my wife wrote off her 205 she was pretty much offered a decent payout straight away but the chap she dealt with said they often just pick the valuation figure from Glass's and Parkers, offer the customer the lowest figure first then when they refuse offer them the average between both.
 
TheDean said:
I was going to ask a question actually, but didn't think it deserved it's own post. Last May I had a crash and admitted liability. Insurers paid to have my car repaired, all was well. Fast forward to now, and insurers have advised that the claim has gone 50/50.

However, after the crash I had to renew my insurance, so just put it was a full fault claim. Should I now ring Bell to tell them it went 50/50, or should I just wait until renewal time?
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Surely just ring them up and ask? I'd imagine they couldn't charge you any money for doing so, and may even refund you a small amount.
 
Now all try the same quote with an M40 postcode and welcome to my world. I've been with Admiral or Bell for the past 3 years too as they are always cheapest, however I can't get insured on anything decent for less than £2500.

Last renewal I paid £1600 for a 10 month policy on a 1.3l Toyota Yaris. By anyone's standards that is absurd. Just knowing that I will always be bent over for insurance has taken any enthusiasm that I had for driving away.

I would genuinely pay someone £500 if they could find me an insurance company that can quote me for less than a grand.
 
Well if you are happy with that excess then fine. Most people could get a good quote with a ~£1000 excess.It is nothing special. One of the main reasons to have insurance for most people though is the safety net of knowing that if they crash their car ( or even if someone crashes into theirs and runs off/has no insurance), they only have to pay a small excess to get it fixed.

You also do a small amount of miles as well. I wouldnt call it insurance win, more "I have worked out that having a very high excess means my premium is lower"
 
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Good price, bearing in mind the excess only applies to fault claims.

Value wise though, in event of it being written off or totalled, you will only get the value of the car, not what it costs to replace. In short the trade cost of your model, without the added profit, warranty, tax and service costs that are added to the sale price when you buy from a dealer.

Jack
 
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£1300 on a 350z, no no claims, 23 years old, on street parking, in a badish area of Glasgow City, fully comp with a £500 or so excess. I didn't buy the car in the end, but it seemed extremely cheap!

My friend pays £1000 on a 405, and he has 4 years no claims (though he told his insurance when his car got petrol bombed) and is 25. Lives 20 minutes walk from me.
 
It wasn't until I moved to London that I realised how much an effect the postcode had. Years in GU22 meant I paid £350 for my Boxster S and then Z4M and moving to SE21 doubled it. :(
 
@Peerzy

Guessing GU postcodes are pretty low risk, even with the high excess that's still a good premium for the car. My postcode is D on the ratings. Im 22 with 1 years NCB and even a Skoda Octavia VRS (diesel) would cost me £1400 to insure.
 
Peerzy said:
Every year I read of people struggling with insurance quotes, prices rising, people being unable to insure cars etc.... Yet every year I manage to get a final quote that is much better than I could have even hoped for.

It all started in 2007 when I first passed my test and purchased my 1.2 W reg Punto from my parents. As a 17 year old with 0NCB I was able to get insured fully comp with a £500 excess for £750.

Roll on a few years and I get a Fiat Bravo 1.4 Tjet, rated at 150bhp and I'm now 19 with 1year NCB, even once I had added mods (remap, induction and exhaust) the price was £830.

Jump forward another 2 years and I'm now 21 and buying my Porsche Boxster S. I'm back down to 0NCB due to a smack and with a £1400 excess get insurance for £1250, rather happy.

Now to today, renewal time is upon me and I hope for a figure around £1000 (taking into account I'm now 22 and have 1year NCB, keeping the same excess etc...). I do a few quotes and manage to finally take out a policy on Saturday for £640, with a £900 excess.

Now that to me is crazy, £640 to insure a 22 year old on a Boxster S with only 1 year NCB. They must really trust me :eek:

My post code has always been GU21 till this year, when it has changed to GU24. I only do 6k a year so my mileage is low and obviously my excesses has been high (£900 this year though is only £500 voluntary, £150 standard and an extra £250 for being under 25). Till this year I've always had my 51 year old mum on the policy but she's come off it now as she was pushing the price up. Halfway through last year I added my 28 year old partner and it didn't effect the cost at all. She's still on it this year.

I also went onto her insurance and I didn't add anything to her £350~ she pays for her Polo.

Annoyingly the 1 car I actually dream to own (Ford Mustang) I can't get touched on for insurance due to it being LHD.

Interestingly only Admiral, Bell and Elephant are below about £5000 for the Porsche (this year and last) and all are within about 50p of each other; I know they are all the same company.

There isn't really a massive point to this thread, other than my insurance is always miles cheaper than I expect. At 22 with 1year NCB I struggle to find any car that will cost me more than £1000 to insure.

tl:dr - I got insurance for £640. Share your insurance wins/woes.
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How did you manage to afford a Porsche Boxster S at 21? lol
 
Peerzy said:
Every year I read of people struggling with insurance quotes, prices rising, people being unable to insure cars etc.... Yet every year I manage to get a final quote that is much better than I could have even hoped for.
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Whats your postcode ?

Or at least a postcode of a street somewhere near you that will have the same insurance rating ? (for comparison purposes)
 
Peerzy said:
The excess is my call when I selected it, no matter what I was always going to pay £400, I just decided to up it to £900 to offset the premium.

I put down the car had a value of £16k, I've no idea it's actual value but to replace it (2007, 3.4S with a years OPC warranty) it would cost more than £15k.
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Bear in mind that your insurance, unless you've a guaranteed value which I doubt as this isn't an old classic policy, will be looking to cover the actual value of the car at that time.

So if you insure it at the point it has a market value of £15,000 and then promptly put 50,000 miles on it in the next 11 months before totalling it, you're not going to see £15,000 thanks to all those miles and it being nearly a year older.

That level of excess for me pretty much makes the insurance good for a write off anyway.
 
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