insurance quote help please

dipsy

Hi just wondered if anyone could help

I have a 06 car value £8k which costs me £340 to insure fully comp

my partner is looking to insure a 1995 car value £200 has been quoted around £260 tpf&t


both of us have full ncb

I have mine insured with legal cover and Protected NCB

his quote was for basic no legal and no protected NCB

if he adds me to the insurance it brings it down to £220

the question is why is the insurance on a much older car so high?

I thought it might be because older cars are more likely to be stolen as less security etc, would this be so?

anybody else have any clues?

also if I am on his insurance as named driver and he has a crash does this affect my insurance?

thanks in advance

LandyAndy

TPFT can be more expensive than Fully Comp. Did you get a FC quote on the older car? For an old car most of the insurance risk is in what you hit not your own car.

What cars are they?

dipsy

Hi thanks for that will suggest to him to try fully comp

the car I insure is a 2.0 Renault Megane CC dynamique

the car he is looking to insure is a 1.4 Renault 19

dipsy

have rung around and it gets worse ....

it seems that as he had a company car and that was 2 years ago then he won't have any NCB which has now a quote of £700 to insure a £200 car.

He has been on my car insurance for just short of 2 years are there any companies that will either

a) accept a letter from company saying he drove a company vehicle albeit not for last 2 years so thereby getting his ncb

OR

b) a company that will give him x amount of NCB as he has been a named driver?

thanks in advance

AdrianHi

The only time the cars value affects the premium is if the current value is above or below a certain level which for most insurers is around £30,000 to £35,000.

More modern cars are sometimes less costly to repair after a crash, body panels designed to be detached and replace rather than expensive panel beating or difficutl panel replacement. That helps to bring premiums down for these younger cars.

stef73

dipsy wrote: »

have rung around and it gets worse ....

it seems that as he had a company car and that was 2 years ago then he won't have any NCB which has now a quote of £700 to insure a £200 car.

He has been on my car insurance for just short of 2 years are there any companies that will either

a) accept a letter from company saying he drove a company vehicle albeit not for last 2 years so thereby getting his ncb

OR

b) a company that will give him x amount of NCB as he has been a named driver?

thanks in advance

My wife got her own car last year after driving mine as a named driver for years and Swinton insurance gave 1 years ncb discount for being a named driver on my car . With this discount it was cheaper than any other online quote with no discount .

LandyAndy

AdrianHi wrote: »

The only time the cars value affects the premium is if the current value is above or below a certain level which for most insurers is around £30,000 to £35,000.

More modern cars are sometimes less costly to repair after a crash, body panels designed to be detached and replace rather than expensive panel beating or difficutl panel replacement. That helps to bring premiums down for these younger cars.

Does that mean that a two identical cars (other than age), one worth £29,000 and the other worth £2,900 would attract identical premiums?

dacouch

With a lot of Insurers they would attract the same premium if they are the same group and age.

As Adrian has mentioned the value of the car does not tend to be taken into account except on higher value cars. The value of a normal car is taken into account in the group and any age of car discounts / loads

AdrianHi

LandyAndy wrote: »

Does that mean that a two identical cars (other than age), one worth £29,000 and the other worth £2,900 would attract identical premiums?

Correct.

Seems surprising but when it comes to a "total loss" there are plenty of examples elsewhere in insurance where the same situation applies.
For example, if you buy contents insurance the sum insured affect on the premium goes in bands where the first band may be £35,000 the next one say £55,000 - depending on the insurer - and then all the other factors such as post code etc. come into play. (I've built computer systems that calculate buildings and content insurance premiums BTW, so I'm intimately familiar with how it works for 3 insurers).

I recently had buildings insurance quotes where the claim limits were 1,000,000 and "unlimited" though in reality they are never liable for more than the cost of rebuilding the house. For the purpose of premium calculation they are not bothered about this limit, a total loss (e.g. house burnt to the ground) is very rare in buildings insurance anyway.

dipsy

just managed to find through Swinton car insurance that they will accept company NCB at the full NCB allowed, but at a reduced discount than it would have been for Personal NCB

so thanks Stef73 for putting me onto them, managed to get it down to under £200.... still seems alot though when you think that I only pay £300 for a car that is under 3 years old and its £200 for a car that is 15 years old

but a great improvement on the £700 + so thanks again :-)