Quick insurance Q - Excess

-Laser- · 4 Apr 2006 at 10:19

renewing insurance atm, going for tpft most likely as comprehensive is still a bit much for me. the excess for tpft - does this apply to fire and theft only, or to claims if i have an accident?

Gilly · 4 Apr 2006 at 10:23

The excess applies to everything you claim unless it is specifically stated otherwise (often the case for windscreen replacement, etc).

This is true for non-fault claims though you generally get this back once the other party's insurance has paid out.

v0n · 4 Apr 2006 at 10:30

Gilly said:
This is true for non-fault claims though you generally get this back once the other party's insurance has paid out.

... or not. Current "money saving" routine excercised by insurance companies is - if both cost of repairs and your excess is high enough the other party's insurance will try to fight the blame in court (£30 to start + around £250 for low key barrister) and in our current legal system they have excellent chance of winning or leading to 50:50, simply because there is almost never any evidence or free to use video footage from the accident.

For TPOF&T policy never let insurer to force any excess on you. In case of accident you'll be better off offering that £100 or £200 towards other party repairs and keep the thing quiet.

needmorespeed · 4 Apr 2006 at 10:52

You only pay the excess if you claiming for your own car so in your case for fire and theft claims only. If you had full comp insurance you also have to pay an excess if you claimed to get you car repaired. You don't pay an excess for third party claims against you.

-Laser- · 4 Apr 2006 at 11:03

ok cool thanks guys. iv'e had a cheap quote, with a high-ish excess, was just wondering if it's worth paying a bit more for a policy with lower excess. if it's only for the fire and theft, it's probably not worth it, my car isn't worth all that much anyway in its present condition

edit: anyone know what they use for market value? is it just an average or do they have a list or anything?

Gilly · 4 Apr 2006 at 11:03

How much is the car worth and how much is the TP/FC insurance?

-Laser- · 4 Apr 2006 at 11:10

present condition probably around £7-800 (maybe a bit optimistic)

price for tpft is £255, with a £300 :eek:

excess.

next best quote is £397 with a £200 excess, dropping to £50 when i turn 25 (june this year)

Gilly · 4 Apr 2006 at 11:18

Depends what you can afford to pay out for the initial insurance then. Certainly no need for more than third party insurance IMO.

-Laser- · 4 Apr 2006 at 11:42

i can afford either really, i've got a bit saved up, for other stuff too. was quoted £317 for fully comp, but with some big excesses again (£500 accidental, £250 fire and theft, £60 windscreen)

it's just like gambling really, if i'm not gonna need to claim the 1st will be good... maybe i'll just go down to william hill and see if i can place bets on my car catching fire

.

I think i will stick to tpft, comp probably isn't woth it with those excesses, although it di include legal cover.