The K M Links Game - June 2024 Week 1
Quizzes & Puzzles2 mins ago
I got my car last September and hurriedly got insurance which is £78 a month. £936 a year.
Just hypothetically - if I was to get a lower quote from another insurance company - would it be worth my while to go for the cheapest in the middle of this, ie would I be penalised?
No best answer has yet been selected by JinnyJoan. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Following other threads on insurance I'm amazed how much people are paying for it. Last year I paid £168 for the YEAR and was annoyed they put it up this year for no reason to nearly £300. I phoned the company after doing a price compare and got them back to £235. This is on a 2014 Mokka fully comp. Jenny I suggest calling the company and see how much they would charge you to leave as it may be cheaper to pay an exit fee if you are going to get your insurance hundreds of pounds cheaper with another company.
I looked in to third party, fire and theft a couple of years ago and it was more expensive for me, I got several quotes.
My insurer told me that my car is worth so little that any claim I made for damage to it under fully comp would probably result in it being a write off, costing them only a couple of thousand pounds. The expensive part of insurance is the claims against the driver - an old banger can cause as much damage to as many cars as a brand new top of the range car and kill as many people - it is the third party claims that can cost £1m+ that pushes up the price of insurance.
davebro: "As an aside - my car being quite old & not worth a lot - if I switched from fully comp to third party only:
1) How would the premium compare to fully comp?
2) Would it affect my no claims discount entitlement?"
Most of the premium is for third party risks anyway the value of your car is a tiny factor. Your old banger could still write off a £200k supercar for example. So I'd say the premium would barely change and in some cases actually increase, it won't affect NCB.