Is it worth paying for better insurance

johnnyb44 · 23rd March 2015, 11:58

Hi.
I've Just been looking at all the different options and add on extras you can get for your car insurance and I keep on asking myself the same question. Are they really worth the bother when insuring a car that's worth peanuts. A lot of our pride and joy cars are in absolute A1 condition and are more luxurious than cars that are ten years newer but insurance company's don't share the same passion as we do. Take my car for instance. Its an auto diesel with low mileage and is in fantastic condition but in the eyes of the insurer its an old banger thats worth between £400 to 650 ( that's what they stated ) Because of this somebody has only got to scuff the bumper or dent the door in at its a write off..This is why most people don't bother to put a claim in in go the route of sourcing second hand parts and do it themselves. So insurance company's are virtually saying your on your own if your car gets damaged
For these reasons I'm compelled to just get the most basic cheapest cover I can get my hands on and save a small fortune.
If the car was worth a few thousand it would be a completely situation as you've got so much more to lose .
Johnny

thundercat · 23rd March 2015, 12:06

Totally agree, as it would seem that Third party Fire and Theft can be more expensive than Fully Comp, I am tempted to go down the 3rd party only route. After all as you say if you try to claim for damages to your car your insurance company would offer peanuts, at least with 3rd party only you are complying with the law, if some one hits you then you can claim off their insurance. This seems like the six and two threes scenario.

DMGRS · 23rd March 2015, 13:37

We've only got basic cover (and business of course), for the reasons mentioned above. It did indeed save us a small fortune!

Pistonbroke666 · 23rd March 2015, 14:07

For me, fully comp always seems to come up cheaper so there's no real savings to be had.

As with all things insurance, it's worked out by fudging a number of statistics together and forcing them through a risk model to come to a price.

When I load my stage two engine into the car, I'll be sorting out an agreed value on the car so as not to lose out should the worst happen.

thundercat · 23rd March 2015, 14:22

All car insurance companies have an excess some including voluntary can in some instances amount to £300 and higher, so you have to pay that up front before they will even consider repairing your car, if the repair cost is less than the excess then the company does not pay a singe penny and your premiums go up regardless. So, is fully comp insurance on out 900 quid car worth it.

rosephus · 23rd March 2015, 14:38

I dunno but when it comes to renew I'll have a proper think about it.

Ill get back to you in 10 months time. :-)

johnnyb44 · 23rd March 2015, 14:47

We've had a few posts recently on car's being wrote off for the most trivial things and the owners buying them back and repairing the car themselves. If this is the gereral state of play with car insurance companys why pay any more than the basics required to keep our vehicle legal

mickfgr2 · 23rd March 2015, 14:53

what ever you do don't go with hastings,just had a very minor very slow speed shunt in mine. they didn't even send anybody to look at it just told me over the phone when informed them that it would be a total loss. the next day i had two salvage companies ring me to collect the car.told them where to go in short jerky movments

johnnyb44 · 23rd March 2015, 15:07

Good for you Mick. As you say they only want to scrap perfectly decent cars that's suffered minimal damage without a second thought to the owners wishes. As I said earlier I would presume you will now repair it yourself which seems to be the "norm " nowadays..

It just brings me back to the same old conclusion .Why pay for car insurance that comes with all the bells and whistles when by the time you've paid the excess you will get pittance back because of the value our cars are worth to them.
I hope you get your car sorted out without to many issues buddy
johnny

johnnyb44 · 23rd March 2015, 15:12

At the moment our cars are in a void as being classed as hacks and classics. Its a fine knife edge at the moment as to there status.

23rd March 2015, 11:58	#1
johnnyb44 I really should get out more....... Rover 75 Join Date: Sep 2013 Location: north wales Posts: 2,721 Thanks: 1,774 Thanked 902 Times in 507 Posts	Is it worth paying for better insurance Hi. I've Just been looking at all the different options and add on extras you can get for your car insurance and I keep on asking myself the same question. Are they really worth the bother when insuring a car that's worth peanuts. A lot of our pride and joy cars are in absolute A1 condition and are more luxurious than cars that are ten years newer but insurance company's don't share the same passion as we do. Take my car for instance. Its an auto diesel with low mileage and is in fantastic condition but in the eyes of the insurer its an old banger thats worth between £400 to 650 ( that's what they stated ) Because of this somebody has only got to scuff the bumper or dent the door in at its a write off..This is why most people don't bother to put a claim in in go the route of sourcing second hand parts and do it themselves. So insurance company's are virtually saying your on your own if your car gets damaged For these reasons I'm compelled to just get the most basic cheapest cover I can get my hands on and save a small fortune. If the car was worth a few thousand it would be a completely situation as you've got so much more to lose . Johnny __________________ Replaced pcv filter, springs, plenum spy hole mod,Bonnet cable divider mod. Wax oiled.Air con recharged. Auto box oil changed , Jules plenum guard fitted .Smoked wind deflectors fitted.S/S Compensator.Club Grill Badge kindly donated by Andyg2011..

23rd March 2015, 13:37	#3
DMGRS Discount MG Rover Spares Rover 75 CDTi, 2x MG ZS180 Join Date: Jun 2011 Location: Hythe, Southampton Posts: 11,369 Thanks: 456 Thanked 3,377 Times in 2,027 Posts	We've only got basic cover (and business of course), for the reasons mentioned above. It did indeed save us a small fortune! __________________ Your trusted MG Rover specialist! Tel: 02380 001133 / Email: [email protected] We now have a 'chat' function on our site for even quicker replies. Give it a try! Remember - discount code FORUM5 for 5% off

23rd March 2015, 14:07	#4
Pistonbroke666 Posted a thing or two MG ZT 1.8T, MG GS Exclusive Join Date: Apr 2013 Location: Grays Essex Posts: 1,809 Thanks: 100 Thanked 282 Times in 205 Posts	For me, fully comp always seems to come up cheaper so there's no real savings to be had. As with all things insurance, it's worked out by fudging a number of statistics together and forcing them through a risk model to come to a price. When I load my stage two engine into the car, I'll be sorting out an agreed value on the car so as not to lose out should the worst happen. __________________ Stage two 1.8T build

23rd March 2015, 14:47	#7
johnnyb44 I really should get out more....... Rover 75 Join Date: Sep 2013 Location: north wales Posts: 2,721 Thanks: 1,774 Thanked 902 Times in 507 Posts	We've had a few posts recently on car's being wrote off for the most trivial things and the owners buying them back and repairing the car themselves. If this is the gereral state of play with car insurance companys why pay any more than the basics required to keep our vehicle legal __________________ Replaced pcv filter, springs, plenum spy hole mod,Bonnet cable divider mod. Wax oiled.Air con recharged. Auto box oil changed , Jules plenum guard fitted .Smoked wind deflectors fitted.S/S Compensator.Club Grill Badge kindly donated by Andyg2011..

23rd March 2015, 15:07	#9
johnnyb44 I really should get out more....... Rover 75 Join Date: Sep 2013 Location: north wales Posts: 2,721 Thanks: 1,774 Thanked 902 Times in 507 Posts	Good for you Mick. As you say they only want to scrap perfectly decent cars that's suffered minimal damage without a second thought to the owners wishes. As I said earlier I would presume you will now repair it yourself which seems to be the "norm " nowadays.. It just brings me back to the same old conclusion .Why pay for car insurance that comes with all the bells and whistles when by the time you've paid the excess you will get pittance back because of the value our cars are worth to them. I hope you get your car sorted out without to many issues buddy johnny __________________ Replaced pcv filter, springs, plenum spy hole mod,Bonnet cable divider mod. Wax oiled.Air con recharged. Auto box oil changed , Jules plenum guard fitted .Smoked wind deflectors fitted.S/S Compensator.Club Grill Badge kindly donated by Andyg2011..

23rd March 2015, 12:06	#2
thundercat Posted a thing or two Rover 75 Club SE Join Date: Jul 2012 Location: saxmundham Posts: 1,438 Thanks: 289 Thanked 173 Times in 121 Posts	Totally agree, as it would seem that Third party Fire and Theft can be more expensive than Fully Comp, I am tempted to go down the 3rd party only route. After all as you say if you try to claim for damages to your car your insurance company would offer peanuts, at least with 3rd party only you are complying with the law, if some one hits you then you can claim off their insurance. This seems like the six and two threes scenario.

23rd March 2015, 14:22	#5
thundercat Posted a thing or two Rover 75 Club SE Join Date: Jul 2012 Location: saxmundham Posts: 1,438 Thanks: 289 Thanked 173 Times in 121 Posts	All car insurance companies have an excess some including voluntary can in some instances amount to £300 and higher, so you have to pay that up front before they will even consider repairing your car, if the repair cost is less than the excess then the company does not pay a singe penny and your premiums go up regardless. So, is fully comp insurance on out 900 quid car worth it.

23rd March 2015, 14:38	#6
rosephus Posted a thing or two MG ZT 2.0 CDTi 135+ Join Date: Jan 2014 Location: Manchester Posts: 1,122 Thanks: 480 Thanked 213 Times in 145 Posts	I dunno but when it comes to renew I'll have a proper think about it. Ill get back to you in 10 months time. :-)

23rd March 2015, 14:53	#8
mickfgr2 Avid contributor rover 75 saloon Join Date: Aug 2012 Location: Doncaster Posts: 123 Thanks: 49 Thanked 123 Times in 33 Posts	what ever you do don't go with hastings,just had a very minor very slow speed shunt in mine. they didn't even send anybody to look at it just told me over the phone when informed them that it would be a total loss. the next day i had two salvage companies ring me to collect the car.told them where to go in short jerky movments

23rd March 2015, 15:12	#10
johnnyb44 I really should get out more....... Rover 75 Join Date: Sep 2013 Location: north wales Posts: 2,721 Thanks: 1,774 Thanked 902 Times in 507 Posts	At the moment our cars are in a void as being classed as hacks and classics. Its a fine knife edge at the moment as to there status. __________________ Replaced pcv filter, springs, plenum spy hole mod,Bonnet cable divider mod. Wax oiled.Air con recharged. Auto box oil changed , Jules plenum guard fitted .Smoked wind deflectors fitted.S/S Compensator.Club Grill Badge kindly donated by Andyg2011..