U
I'll never figure out how insurance companies operate.
- Thread starter vernon
- Start date
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Tcr4x4
Veteran
- Location
- Gloucester
Really? Maybe you could inform my insurers of that, because I seem to get screwed left, right and centre by them.
Matthew_T
"Young and Ex-whippet"
- Location
- Prestatyn, North Wales
I have found that insurance quotes are actually cheaper in the middle of the week. I dont know if its because different ones work at different times of the week but on Friday I was doing quotes and they often came out at £700-£900, but this weekend I was doing them and they were £1200+ with the cheap people not even appearing.
I use Confused.com and they seem to currently have half of the amount of insurers they say they do.
I use Confused.com and they seem to currently have half of the amount of insurers they say they do.
fossyant
Ride It Like You Stole It!
- Location
- South Manchester
You've just got to play the 'modelling' on the database. Sometimes increasing mileage estimates or altering something slightly can have a big effect.
fossyant
Ride It Like You Stole It!
- Location
- South Manchester
You've just got to play the 'modelling' on the database. Sometimes increasing mileage estimates or altering something slightly can have a big effect.
Matthew_T
"Young and Ex-whippet"
- Location
- Prestatyn, North Wales
Just worked out the sweet spot for insurance. 1100-1300 miles per year is the lowest quote and £1000 excess (so they can lower it to what they limit you to which is typically £500).
Its just a matter of finding a cheap car now.
Its just a matter of finding a cheap car now.
Matthew_T
"Young and Ex-whippet"
- Location
- Prestatyn, North Wales
Sorry, missed out a 0.
BimblingBee
Guest
Can you afford to pay out £1000 in the event of an accident?
OP
OP
vernon
Harder than Ronnie Pickering
- Location
- Meanwood, Leeds
Especially if the car is worth £800
Matthew_T
"Young and Ex-whippet"
- Location
- Prestatyn, North Wales
The figure is incase I am at fault. Which would have to be decided depending on what happens. If I am at fault, then will happily own up to it and pay my dues. If I am not at fault, then I would expect the insurance company to sort it out for me. Its not what the excess is there for.
BimblingBee
Guest
As long as you can afford it then great.
I wonder how many young people with zero driving experience are involved in collision that wasn't their fault in their first year??!!
I wonder how many young people with zero driving experience are involved in collision that wasn't their fault in their first year??!!
Matthew_T
"Young and Ex-whippet"
- Location
- Prestatyn, North Wales
Oh, har, har, har. I'll show you when in five years time I have 5 years no claims bonus!
400bhp
Guru
Yeah, that'll learn us.
OP
OP
vernon
Harder than Ronnie Pickering
- Location
- Meanwood, Leeds
You are making a lot of assumptions Matthew. If you damage your car and there's no guarantee that you won't, you will be faced with having the excess to pay this means that:
If your car is written off - it only takes a £500 repair bill on a £1000 car for this to happen then you'll receive no payout. On a car valued at £2000 (this is not the purchase price but the loss adjuster's valuation) car you'll get £1000 if the repair bill is £1000 and the car is written off.
It doesn't take much damage to accrue a repair bill of £500 - £1000. A new rear bumper and boot and having them painted to match the car will cost this.
In addition your policy might be terminated there and then which means that you could be facing a substantial financial hit: Your premiums will go up, you need to buy a new policy along with a replacement car.
I'd not be so complacent about your financial exposure during your first five years if I were you.
