Voluntary Excess - worth going high?

Loopy_Girl

I have got myself a little runaround...only worth £600 but suits me fine

Now I want Comp cover purely for the reason that if I can access a courtesy car if mine is in for repair (and also windscreen cover which I think could come into it's own with the amount of grit I am driving over!) And there is literally a few pounds between FC and TPFT

My question is, I know that if I was in an accident my insurer would write the car off so my thinking is that I am as well putting a voluntary excess of say £400 which would bring the premium down a little.

Is my thinking making sense or am I just as well leaving the excess at £250 (which is what I have it at now)

Many thanks

mikey72

If it's worth £600, and you have an excess of £400, by the time they value it at £450, and write it off, you'll get £50, and lose 2 or 3 years ncd, and have a loaded premium.
Excess of £250 means you'll have the same aggro for a payout of £200.
Take the high excess, and if you write it off, quietly sweep the bits to the side of the road, and just buy another.

Disclaimer - all insurance customers are required to inform their insurers of any incident that would give rise to an increase in premium, even if they would never find out otherwise.

gilbert_and_sullivan

Unless you have enough years of no claims to qualify for a protected policy i would avoid any claims if possible, the increase in premiums over the following years will far outweigh any payment you would receive for your car.

If you damage your car then just either get it repaired via scrap yard parts or chuck it and get another, don't claim for it.

Course of you hit someone else then you are in the same boat as everyone else...at the mercy of the cliamsRus crew.

As for excess, judge the merits on the discount available for the higher figure.

McKneff

What makes you think you would get a courtesy car if yours is in for repair.

If it was damaged in an accident, fair enough but not for general repairs.

At that price, you'd be just as well buying third party fire & theft.

Many years ago, i think about 1971 we paid £4.10 shillings for our first car, an old triumph herald fast back,:rotfl::rotfl::rotfl:

mikey72

McKneff wrote: »

What makes you think you would get a courtesy car if yours is in for repair.

If it was damaged in an accident, fair enough but not for general repairs.

At that price, you'd be just as well buying third party fire & theft.

Many years ago, i think about 1971 we paid £4.10 shillings for our first car, an old triumph herald fast back,:rotfl::rotfl::rotfl:

Fully comp gives windscreen cover for pennies though.
Actually, you'll never get a courtesy car for any great time, any claim will be a right off at £600 (or less), and it's not worth making a claim for a few pounds. So you might get a car for a day or two, then they'll take it back.

forgotmyname

Someone on here posted they were offered £200 and they couldnt buy a new car for that much.

Insurance had actually offered £400 but excess was £200.

Windscreen claims usually have an excess of £75 - £125 typical, On a £600 car im sure i could find a screen
for less than that and not have the hassle of a raised premium.

On a low claim figure i wouldnt expect the insurance to hang around in paying out. Once they make an offer
they usually want a hire car back. Also the hire car may only apply if your car is being repaired.
If its stolen or beyond repair you may not get a car.

Loopy_Girl

Sorry, meant to say that I have 7 years NCD and have protected it for years.

The courtesy car - my thinking is for example of someone went into me (a small dunt for example). Car is repairable (on their insurance) but mine is in the shop for a few days. I cannot be without a car so I can get a courtesy car paid for by other insurer...but you have to have comp insurance for it.

Mikey, your thinking was exactly matching mine. I'd rather make some saving now as if the car is a write off I would probably get jack anyway.

As mentioned, the difference between FC and TPFT is under £5 - well worth the pennies extra to get windscreen cover.

Thanks all for input

Loopy_Girl

forgotmyname wrote: »

Windscreen claims usually have an excess of £75 - £125 typical, On a £600 car im sure i could find a screen
for less than that and not have the hassle of a raised premium.

I am talking about chip repairs which are free.

In this weather I would rather pay less than a fiver for windscreen cover than risk getting a chip and having to pay to get that repaired.

McKneff

Dont think you realise how much car repairs are.
Some one scraped mine, just a 2 x 2 inch scrape down to the metal above one of the wheel arch, gues how much
£850 plus

Had to take off half the side of the car, repaint it, put it back, etc etc. Yes, I kid you not, £850
so even a little dent in yours they would write it off.

McKneff

If you are claiming on someone elses insurance you dont have to have fully comprehensive insurance on your car, your level of insurance is irrelevant.

scragend

My car is worth about £500, on last year's comprehensive policy the total excess was the same (£100 compulsory, £400 voluntary).

I was going to drop it to TPF&T this year, on the basis that there was no point having an excess greater than the value of the car. If I write it off under a TPF&T policy they won't pay out, but if the excess is more than the car's worth they still won't pay out - so no difference.

Then the renewal came and it was less (fully comp) than the cheapest TPF&T quote I could get! So I renewed it.

Back when my car was worth a bit more, I always went for a higher excess as it kept my premium lower. My reasoning was that if someone else hit me I would claim my excess from them, if I was at fault then I deserved to have to dig into my pocket.