Insurance insanity!!!

[A.BLAKE]

Just thought i would give a heads up to any one else having murders with insurance... When i bought my car i tried to insure the standard way and got a quote for £3999 a year 3rd party... Never thought to ask what it would be fully comp as 3999 a year is all ready waaaaay over what i could afford....
In the end i exchanged my undying soul in return for a place on my uncles trade policy which is ok but i would still prefer my own policy...
Anyway, hes been moaning at me recently about it saying its putting his premiums up sky high blah blah blah... So i was having a look on compare the meercat just to check if i could get anything half way decent...
As before £3999 or an arm and both legs for 3rd party...
Just for a laugh checked out fully comp with optional £500 excess...
£1200!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! WTF?????? Why did they not tell me this when i phoned them?????

[Peter Gidden]

In the end i exchanged my undying soul in return for a place on my uncles trade policy which is ok

OK as long as you were officially employed in his business.

Glad you've found a policy worth the paper it's printed on.

[Pauln]

I'll never complain about an insurance quote again that's unreal!

But the thing about third party being more expensive than comp is something I have come across quite a few times, and have never found an insurance broker who could explain why. Always seems bizarre to me that less cover should cost more.

Paul

[Tsia]

It was very nearly the situation with me, except my insurer managed to find one place that did third party cheaper. I'm paying several thousand for insurance currently, but I'm holding tight as the guys at Sky reckoned they could get me the best quote in a year or so... we'll see

[Mike 'MR2' McHugh]

How old are you and how many years no claims have you got ?

[Al-sw20]

1200 is still steep, but when its compulsory, they got you by the balls.

[nickg07]

for me admiral £900 everyone else wanted 4000-6000 and most specialists won't touch me. those are fc prices too.

[Torero]

Admiral were good for me as well but I am in the 40-50 age group with limited mileage but my '98 UK rev 5 n/a still costs me <£600.

However, what hikes it up is that we live in Central London, so the probability of being vandalised or hit by a 3rd party whilst unattended is high.

Like Al said "they got you by the balls"

[Harold]

I just don't understand when people don't check out the insurance cost before buying a car, considering how expensive it can be it's generally the first thing that I check.

Glad that you've found something more reasonable.

[leary123]

wow..thats an awful lot. im 25 with 4 years ncb and full comp for my 96 rev 3 turbo is £500.
one thing that oddly makes a massive differnce (well it did for me ) was changing where the car is kept over night.
i changed mine from " a secured garage" "to on the street" and it knocked 150 quid off

apperantly if your car is on your drive , then theives know where the keys are. if its on the street..it could be anyone on that roads car

[Baker]

My fiesta - £340
My fiesta with 3 points speeding ive just got - £267.

laughing out loud.

thing is, i have the option to attend a speed awareness course and have no points.
Im better off keeping the 3 points.

[Mike 'MR2' McHugh]

Ive just renewed my policy with Classic Line insurance, £265 .

[SuperRedMR2]

Be very careful on comparison websites as I was recently shafted by MoneySupermarket.

I added in all 6 mods on the online quote, got a quote back from their site through the AA for £360 fully comp, protected blah blah blah

I rang them up to take out the policy, got put through to the AA centre and was told that 6 modifications are not permitted on a standard quote with the AA, the first 3 were put through, but the other 3 had to be dealt with in a different department. After a lot of messing about my quote came out at £900 fully comp.

MoneySupermarket told me after I destroyed someone on the phone that they couldn't give me me the policy they had quoted as there was a communication error between the two websites - more like MS do not know the protocols or policies of the AA insurance.

I then had to go to Adrian Flux who got me down to £440 from my renewal with Aviva at £490.

Don't trust comparison websites - total and utter chod.

[Charged]

Just thought i would give a heads up to any one else having murders with insurance... When i bought my car i tried to insure the standard way and got a quote for £3999 a year 3rd party... Never thought to ask what it would be fully comp as 3999 a year is all ready waaaaay over what i could afford....
In the end i exchanged my undying soul in return for a place on my uncles trade policy which is ok but i would still prefer my own policy...
Anyway, hes been moaning at me recently about it saying its putting his premiums up sky high blah blah blah... So i was having a look on compare the meercat just to check if i could get anything half way decent...
As before £3999 or an arm and both legs for 3rd party...
Just for a laugh checked out fully comp with optional £500 excess...
£1200!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! WTF?????? Why did they not tell me this when i phoned them?????

Modified Mr2 turbo kept on the road in a London postcode = a very high risk for insurers, the price you will pay reflects the risk that is presented to the insurers.

Compare the meercat for a quote on a modified Mr2 is going to be about as much help as a poke in the eye.

I' also glad you've found out your previous trade insurance wasn't worth the paper is was written on. I dread to think how many others are in that situation though and blissfully unaware.

[Charged]

Ive just renewed my policy with Classic Line insurance, £265 .

I like turtles

[Peter Gidden]

Im better off keeping the 3 points.

Until you get another 3 putting you on 6

[Charged]

I'll never complain about an insurance quote again that's unreal!

But the thing about third party being more expensive than comp is something I have come across quite a few times, and have never found an insurance broker who could explain why. Always seems bizarre to me that less cover should cost more.

Paul

It's simple, higher volume and value of claims from TPFT vs Comp makes Comp cheaper with some insurers on some vehicles.

[Charged]

1200 is still steep,

How do you know it's steep though? For all you know he could be 17 years old doing 100,000 miles per year with a nitrous equipped tubby.. in which case £1200 would be remarkably cheap.

People tend to forget/ignore the insurers perspective

[nickg07]

or he could like in an 'F' rated post code like i do..

[Canopus]

I work in the insurance industry, but not car insurance, and whilst we all moan about the cost of car insurance, me included, we need to sometimes think what the downside can be.

The largest auto loss in history is in the UK. Remember the guy with the range rover and trailer who fell asleep on the motorway, off the road, accross a field and onto a railway track. Derailed one train which then collided with another just as they went under a bridge. Two trains and a bridge - total cost £120,000,000.

That's a lot of insurance premiums!

In fact he changed car insurance for ever. In the past third party bodily injury and property damage was unlimited. The policy pays what ever it costs.

Now there is typically a £20m property damage limit on most car policies, and no, it's not a target!!

Unfortunatley we live in a compensation culture with real, and exagerated claims on the increase and statistically powerfull cars in young hands have more crashes and/or suffer more damage and that cost has to be recompensed.

Insurance varies greatley from company to company as most trie to "cherry pick" some with more success than others.

High insurance is just a fact of life.

The real villans are those who don't have insurance...

Who pays then - answer, we all do as there is a compensation fund set up for these eventualities funded by insurers/those who do pay for insurance. Candidly this is right and proper in our society to try to look after the injured.

Sorry probably a bit too long here!

G

The real cost is death or serious injury to a person and that is much harder to compensate