Fully Comp/Third Party Car Insurance

chambta

Evening,

My car's only worth about a grand at best now and plan to sell soon and get something better. Insurance up for renewal soon and always had fully comprehensive insurance. Have full no claims bonus now and cannot envisage claiming for anything to my car in any situation as I would just buy another.

Is there any benefit to me in having fully comprehensive given this situation?

Money not an issue but I could probably lop £50-£75 off with 3rd party insurance.

Thoughts?

chambta

And I wouldn't claim for that anyway. I'd not bother to protect my NCB for this year and take that little risk.

Expect to replace car Jan/Feb anyway.

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chambta wrote: »

Money not an issue but I could probably lop £50-£75 off with 3rd party insurance.

Thoughts?

If money is not an issue then just pay for comprehensive cover and protect your no claims bonus.

As opposed to having to write off one thousand pounds and lose no claims if you have an accident which is your fault.

Quentin

See what happens to the fully comp quotes if you take a massive voluntary excess.

Some let you do £1k and more. The quotes are often cheaper than TP, and worth considering if you were happy to have just TP cover.

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What? What? What? Why would anyone who can afford comprehensive insurance not buy comprehensive insurance?

/baffled

Miss_Qwerty

Not being fully comp usually means that any personal effects in the car are not covered either if it gets broken into. So although the car may not be worth a lot if you've got driving glasses in there, or a sat nav, a nice radio, things in the boot etc then you wouldn't be able to claim for them.

I'd recommend comp if you can afford it.

chambta

Quote wrote: »

What? What? What? Why would anyone who can afford comprehensive insurance not buy comprehensive insurance?

/baffled

Because the car's a 9 year old Saxo and worth perhaps £1000 at very best. My next car in the new year will perhaps cost £5-6k so it will be different then.

What do I lose only having 3rd party? I don't keep anything of value in the car and as said cannot see me making any claim due to the value of it and the fact I will be replacing it sooner rather than later.

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What you'll potentially lose, if you go TPFT, is the value of the vehicle. You lose the opportunity to make a claim. Loads of things can happen to the vehicle which would mean you wouldn't have any cover for it.

If you want to save yourself £50-£75 at the risk of losing £1000 worth of car then go right ahead.

Don't spend your savings all at once. That's over a whole £1 a week!!!!!1111

dacouch

As the previous posters have mentioned you get extras such as Windscreen cover etc.

One thing to bear in mind is that if you go with a company on TPF&T there is a good chance they will not be competitive when you want to change to your new car and increase to comprehensive. Quentins advice would be to run quotes through on your current car and on the new car and use this to guide you to a company that will offer good value on your current and new car. This is good solid MSE advice

chambta

Quote wrote: »

What you'll potentially lose, if you go TPFT, is the value of the vehicle. You lose the opportunity to make a claim. Loads of things can happen to the vehicle which would mean you wouldn't have any cover for it.

If you want to save yourself £50-£75 at the risk of losing £1000 worth of car then go right ahead.

Don't spend your savings all at once. That's over a whole £1 a week!!!!!1111

Appreciate your advice. Like I said I'm not bothered about the value of the vehicle. It's been written off value-wise as far as I'm concerned and I owe nothing to anyone. Sadly it's too new to even be used as a scrappage throw in unless it continues until next year.

chambta

dacouch wrote: »

As the previous posters have mentioned you get extras such as Windscreen cover etc.

One thing to bear in mind is that if you go with a company on TPF&T there is a good chance they will not be competitive when you want to change to your new car and increase to comprehensive. Quentins advice would be to run quotes through on your current car and on the new car and use this to guide you to a company that will offer good value on your current and new car. This is good solid MSE advice

Good point. I'd pay for insurance in one go anyway and it's usual to get a refund of any unused premiums minus a small admin charge isn't it?

Think I'll whack excess up and on fully comp and see how it comes out. Likely no different to TPF&T.