Car Insuarnce Help

Annie_83 · 21 August 2009 at 11:09AM

Hi

i need some help with my car insurane. i'm due to renew my insurance and ive tried the moeny super market to get quotes. i'm 25 with 3 yrs NCB and i have a mini cooper s 52 plate i've been quoted £783.48 by XS direct but my excess is £1500? but then if i look at some of the others with excess of £300 i would be paying over £1200?
is this right? how can i reduce the cost of my insurance? Or is this what i should be paying im not sure im a bit stuck i need sorting my today!! help me please

Quentin · 21 August 2009 at 11:18AM

Plenty of advice on how to reduce premiums in the MSE article:

Click "car insurance" in the best buy articles listed at the top of the main page in the "insurance resource bar":

http://forums.moneysavingexpert.com/forumdisplay.html?f=21

Annie_83 · 21 August 2009 at 11:47AM

thanks, i've been looking through the site for info.
but i just thought there might be someone out there that can relate to me and give me some good advice on what to do, im new to it all i dont really understand it. my partner use to sort it all out for me!

dacouch · 21 August 2009 at 12:14PM

Its seems a lot but there could be other factors influening it, take Quentins advice and read the MSE article.

It might be worth ringing a local Broker (Not Swintons) ask them for a quote and any ways they can suggest of reducing your premium. They may notice some information you are supplying that is putting the premium up. It could be something you are declaring incorrectly like your occupation that can be adjusted (Legally) and reduce the premium. With this advice as well as having a quote from the broker you may find this information means you can get quotations from a comparison site using the information at a lowere premium

Annie_83 · 21 August 2009 at 12:35PM

thanks.

iv'e read the article and tried changing various things but still no change. it still comes up with Vol Excess of £1500 i'm not sure if this is ok to go ahead with because all the other prices are ridiculous.

but i think i will try ring them up and see what they can do over the phone. and ring some brokers

dacouch · 21 August 2009 at 12:47PM

I've just looked at the XS Direct Policy, WOW.

Its called the high excess policy and the £1500 excess applies to all claims, so you would pay an excess of £1500 for Fire, Theft, Own Damage and unusually for damage to another party eg the car you hit.

Please think very carefully about taking this policy as it is highly unusual and would only be suitable for certain people

financial_illiterate · 21 August 2009 at 12:48PM

Annie_83 wrote: »

thanks.

iv'e read the article and tried changing various things but still no change. it still comes up with Vol Excess of £1500 i'm not sure if this is ok to go ahead with because all the other prices are ridiculous.

but i think i will try ring them up and see what they can do over the phone. and ring some brokers

I'm sure its 'ok to go ahead with' but make sure you understand what you're buying if you do go ahead with it.

A £1500 excess means that if anything happens to your car and its your fault (or nobody's fault, or the fault of an unknown third party, or the fault of an uninsured driver, or a thief/vandal), then you will be responsible for the first £1500 of each and every claim. Even if it is an accident where you're not at fault and the other party admits it, it will still be payable initially if you wish to claim through your own insurance.

If you can afford the £1500 excess, then its an option to reduce your annual premium; if you cannot, you could potentially find yourself in a position where even though its 'insured' you can't afford to have it repaired.

What are you paying presently, and who with? You should have received a renewal invitation from the existing insurer.

If you can't get a price (and terms) you're happy with through the internet, speak to a local broker or a direct insurer directly (i.e. not through a price comparison website or e-broker)!

Hope that helps!

dacouch · 21 August 2009 at 12:48PM

http://www.xsdirectinsurance.co.uk/keyfacts.pdf

http://www.xsdirectinsurance.co.uk/faq.pdf

Judging by their FAQs I'm guessing you have a claim and / or conviction

Annie_83 · 21 August 2009 at 1:46PM

currently i'm with Sainsbury Insurance and my renewal quote is £1118.01 with a vol excess of £500 they said they can't do anything better than that.

I just bought this car three months ago so i didnt really have an annual premium i only paid for the three months.

ive spoken to a couple of brokers and there prices are even more ridicolous ofcourse they reduce the Vol Excess to say £250 but the premium goes up to £2228

replying to Dacouch: nope i dont have a claim or a conviction.

dogbot · 21 August 2009 at 1:50PM

25 and a Cooper S at £1,200 for the more "normal" policies - I would say there must be something about your postcode or occupation [STRIKE]or a conviction[/STRIKE](ok, you posted before me!!), or a combination of pross 2 of these things.

Personaly, wouldn't touch the xs Direct policy with a long pole.

Have you tried going direct to "Mini" insurance for a quote? Also, have a look at some broker advertised at the back of a car mag like Autocar - they might have some schemes that could offer favourable terms to your vehicle.

The underlying thing is, you are still fairly young, and the Cooper S is a quick car! Gone are the days when you turn 25 and are suddenly seen as a good risk, it is more granular for most insurers now. It still seems a little high, but as I say, chances are it is postcode or occupation pushing the premium up a few hundred £.

dacouch · 21 August 2009 at 1:58PM

Could you imagine someone buying that XS direct policy without realising the all sections excess!!! I know they spell it out but there are plenty of people out there that do not read the documents / website and would just buy it because of the low price.

It could be a goodish policy for certain people eg people who want to partially Self Insure or who have a bad accident / conviction history

Car Insuarnce Help

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