Car insurance

[Buckman]

Coming up to that time of the year again with various quotes pouring in. I have noticed that if you load the voluntary excess the premium drops, but you still have to pay the compulsory. Between the two this can amount to almost £600. With voluntary being £250 and the balance compulsory. If I change the voluntary to £0 the cost of the premium increases by £30 over the year.

To me it seems to make economic sense to set the voluntary to £0 and pay the slight increase in the premium or have I got it wrong? Obviously I am hoping never to have to pay either of those excesses.

 

[otherclive]

Coming up to that time of the year again with various quotes pouring in. I have noticed that if you load the voluntary excess the premium drops, but you still have to pay the compulsory. Between the two this can amount to almost £600. With voluntary being £250 and the balance compulsory. If I change the voluntary to £0 the cost of the premium increases by £30 over the year.

To me it seems to make economic sense to set the voluntary to £0 and pay the slight increase in the premium or have I got it wrong? Obviously I am hoping never to have to pay either of those excesses.

At that difference I would go for zero voluntary excess. But hope not to use it.

 

[Raywood]

There is no right answer here, it is all a matter of your judgement. A £30 reduction would work if you ad no claims for over six years where you were at fault. To me that is worthwhile but it could be wrong if the worst happens.

 

[Buckman]

Our renewal with £150 voluntary is about £309 up from last year by about £20. Changing it to zero voluntary it jumps up by £40 to a smidgin under £350! On a comparison site and changing to John Lewis with zero voluntary price is £90 lower.

I would think that John Lewis would use a reputable insurer as policy is underwritten by Covea Insurance plc and Covea Insurance plc are authorised by the Prudential Regulation Authority. Overseas cover is for 180 days however I cannot find if it is third party only or comprehensive as some policies it is limited.

Edit. Found it and states comprehensive cover for overseas trips. Looks like JL are going to be nominated for our cover. Even SAGA were a lot more expensive with less offerings.

 

[OneAnt]

It's a personal choice that depends upon finances, claims and risk profile. I know I would not claim for any damage under £500-£1000 anyway as eventually, it may hurt premiums when searching for a new policy. If it was a write-off and I claimed, I would lose £500 excess however as I have not claimed in 30 years, that is approx £30x 30 saved = £900. The way I see it is I am self-insuring that excess amount.

 

[Sam Vimes]

It always amazes me that different insurance companies and brokers can come up with wildly varying premiums. I've just done a search for my daughters car insurance to save her some time and hopefully money. While some companies will drop the premium if you increase the voluntary excess I found that Tescos keep the premium the same even if you drop it to zero. They were also the cheapest for her.

This year I've renewed with Direct Line as they were also the cheapest but also about £20 less than the previous year.

As for making small claims that would affect future premiums I always pay for the additional NCD protection. In the many years that we've been driving we have only made one no fault claim and that didn't affect the premium.

 

[OneAnt]

As for making small claims that would affect future premiums I always pay for the additional NCD protection. In the many years that we've been driving, we have only made one no-fault claim and that didn't affect the premium.

I agree, however, this is the bit that I do not trust insurance companies with. I also protect the NCD, however when shopping around for quotes, one has to state any accidents in the last 3 years. You would receive the same NCD, however, I suspect the premium is higher to begin with. When I next renew I will test it out to see if 9+ years NCD (no crash) is the same as 9+ years NCD (with a crash)

 

[Buckman]

I agree, however, this is the bit that I do not trust insurance companies with. I also protect the NCD, however when shopping around for quotes, one has to state any accidents in the last 3 years. You would receive the same NCD, however, I suspect the premium is higher to begin with. When I next renew I will test it out to see if 9+ years NCD (no crash) is the same as 9+ years NCD (with a crash)

Most seem to ask for accidents in the previous 5 years. We always pay the extra for the NCB protection which is normally between £25 and £35.

 

[Robert_374373903]

I have already posted that I got my car insurance over £200 cheaper by using their on line method, cover is exactly the same . Then came the breakdown insurance few weeks ago, went on line it worked out nearly half the original price and again same conditions . Lastly our CCC van insurance down from last year this week.