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car insurance

dj_padd

Prominent Member
I'm going to be buying my 1st car soon and have been getting some insurance quotes.

The car I'm looking at is £1800 and fully comp insurance is £300 more than fire and theft.
Is there a car value point where fully comp is not really needed due to the insurance being almost as much as the car?

Hope that made sense?
 

Redline

Prominent Member
Ive never bothered with fully comp before. The cars i bought have always been around 3-4k and over 5 years old so never seen the point.
This year however ive shopped around and fully comp is now cheaper than TPFT. I remember when there was a vast difference in price.
 

liveforav

Prominent Member
Yes there is.. its what ever you feel as an acceptable lost. However what i can suggest is that you get loads of insurance quotes as prices vary wildly, also check a spread of car tipes such as diesel / petro / big / small as you may find one is a lot cheaper to insure than another.. im not just talking insurance group here, make/model makes a difference.
 

campy mccamper

Prominent Member
I never used to bother with fully comp as I was too good a driver to ever have an accident. It never really mattered because my cars were only £1-2k tops. Then after saving up ages for a 3 year old vectra sri, I wrote it off on 3rd fire and theft, all to save a couple hundred on insurance:facepalm:
 

liveforav

Prominent Member
I only got fully comp once i had a decent (15k+) car and easily dropped motorbike.. also happily i had also got older and built up a healthy NCB
 

dj_padd

Prominent Member
Is going fully comp (£1,350) worth it on a car that will cost me £1,500?
3rd party fire and theft is £300 cheaper.

I can under stand going fully comp on a half decent car worth a several grand. But this would be my very 1st car so it would prob get scrapped if anything happened to it.
 

liveforav

Prominent Member
Is going fully comp (£1,350) worth it on a car that will cost me £1,500?
3rd party fire and theft is £300 cheaper.

I can under stand going fully comp on a half decent car worth a several grand. But this would be my very 1st car so it would prob get scrapped if anything happened to it.

Why would it be several grand? Its mainly about risk, the remainder is the value of the car, which unless youre getting something at big bucks is inlikely going to make that much differance. Ie quote on a 2007 fiesta and a 2013 fiesta
 

phillyd1981

Prominent Member
If you did go fully comp and ended up writing the car off would it be worth claiming on your car?

By the time you take into account your excess cost, the insurance company paying out a lower amount for the car then what you paid, the extra money it will cost on the followings years policy for claiming and you would have not built up your first years no claims if you did.
 

Miss Mandy

Moderator
I've always gone fully comp. It's always been cheaper for me and once you hit 25 it gives you the added bonus of being able to drive other people's cars which has proven beneficial in more than one family emergency.
 

Daddy k

Distinguished Member
Fully comp can be cheaper.
So if its cheaper buy it. No one will force you to claim against yourself on any part of the fully comp policy.

Also I would look into changing the va,us of your car to around £2000 or £2500. They will only ever pay Parker value anyway, however a lot of insurers add a loading to a policy if a car is too cheap as they believe the owner may not be so careful with a Cheap car. So a More expensive car can be cheaper to insure.

Also make sure you add a 2nd driver to your policy, someone mature with experience such as a father etc. this will save you a few hundred.
 

Daddy k

Distinguished Member
once you hit 25 it gives you the added bonus of being able to drive other people's cars which has proven beneficial in more than one family emergency.

Not true and is a massive misconception.

The ability to drive other vehicles 3rd party only is not based on your insurance being fully comp or third party fire and theft.
It's based on the insurer, and age, along with your employment.

As such many people who have third party fire and theft are also insured to drive other vehicles......... However a more worrying point is a lot of people who have fully comp and think they're insured to drive other vehicles actually have no cover at all!

The only way to tell is check your docs.

However fully comp, or third party fire and theft have no relevance on if you have driving other vehicles.
 

dj_padd

Prominent Member
Fully comp can be cheaper.
So if its cheaper buy it. No one will force you to claim against yourself on any part of the fully comp policy.

Also I would look into changing the va,us of your car to around £2000 or £2500. They will only ever pay Parker value anyway, however a lot of insurers add a loading to a policy if a car is too cheap as they believe the owner may not be so careful with a Cheap car. So a More expensive car can be cheaper to insure.

Also make sure you add a 2nd driver to your policy, someone mature with experience such as a father etc. this will save you a few hundred.

If I put my mum as a named driver do I need to ask her permission? Will it effect her as I noticed one of the questions on the quote was: are you a named driver on another policy
 

Daddy k

Distinguished Member
dj_padd said:
If I put my mum as a named driver do I need to ask her permission? Will it effect her as I noticed one of the questions on the quote was: are you a named driver on another policy

Yes ask her permission. However it will have no negative effect on her insurance. It may actually reduce hers slightly as she can put she is insured on another vehicle, it spreads the risk which her current insurers will be happy with.

If you claim on your insurance it will not effect hers in any way. If she claims/has accident in your car,then she will claim off your insurance. She will not loose any of her no claims bonus, however her insurance may go up due to the fact she has had an "accident or claim"

In short if she doesn't drive your car her insurance will never go up no matter what happens to your car
 
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Grangey.

Distinguished Member
Is going fully comp (£1,350) worth it on a car that will cost me £1,500?
3rd party fire and theft is £300 cheaper.

I can under stand going fully comp on a half decent car worth a several grand. But this would be my very 1st car so it would prob get scrapped if anything happened to it.

I can understand how youre thinking but as per my original post you have to think of every scanario and the ultimate question is can you afford to put it right?

If you have a majour collision, can you afford to loose your £1500 car and be left with nothing?

If you have a minor collision, can you afford to replace headlights, panels, grills, bumpers, doors, windows, engine, whatever might be damaged to your car?

Insurance does cost an arm and a leg when youre young, and £300 is a fair bit of money if youre paying it out in one go, but you have to think that that £300 could save itself if you were to claim. £300 more for a £1500 payout if you write your car off.... £300 more for £750 worth of damage to your car repaired... hell £300 for £300 worth of damage repaired and youre still even stevens. Not to mention I would imagine your fully comp option will probably carry free windscreen replacement etc

You have to consider your financial circomstances should you get in an accident, its easy to be confident and say "im not intending on crashing" but accidents do happen so its whether you can afford to foot the bill if it does. £300 in car repairs really wont go very far especially if theres paintwork involved so its strongly worth considering.

Also worth remembering that all insurance quotes are negotiable, if you pick up the phone and say youve had a better quote elsewhere you will often find them willing to move.

Also make sure youre using brokers for quotes, Id highly recommend Adrian Flux if youve not already tried them as Ive been insured through them near enough my entire driving career from being a young driver to having heavily modified performance cars and everything in between and theyve always come up cheapest- most often recently with abit of negotiation though
 

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