Benefits of Fully Comp car insurance

JimmyTheWig

Hi,

It's that time of year again.
Obviously prices can change when you actually go to the insurer, but I've got some quotes from GoCompare.
I believe that our car is worth £800. They'd probably say less than that.
Quotes for fully comp with £500 voluntary excess plus £100 compulsory excess the best came in at £305.
Quotes for third party fire and theft came in at £275.
[Quotes for third party only came in at £581, so lets ignore that!]

So, if I go fully comp and have an accident, they'll pay out up to £200 (£800 value less £600 excess). Can't see it's worth claiming and losing 13 years NCB for that.
So is there anything else that I'm benefitting from by going fully comp? I.e. what am I getting for the extra £30? I'm thinking I might as well just go third party fire and theft.

In both cases it's with Elephant / Bell.


P.S. This is slightly down on last year's price of £311 fully comp. Was expecting an increase after hearing people's horror stories recently.

scheming_gypsy

On an £800 car with a £600 excess, do like you said... go for the cheapest and don't claim on it... it's what i'm doing but mine is fully comp.

JimmyTheWig

That's my thinking, SG, just wanted to know if there was anything else I'd be missing out on by not going fully comp.

Sally_A

Windscreen cover? but I believe a £70xs applies to the Admiral Group policies.

JimmyTheWig

Thanks Sally, that's the sort of thing I was after.
Not sure that alone is worth £30, but if other people come up with other benefits it might help sway the balance.

JimmyTheWig

Or I've got the option of £375 with just £100 compulsory excess.
Am still thinking third party fire and theft is looking the best value.

thenudeone

My 16yo daughter has just bought a moped for £300. It was cheaper to get a TPFT policy with £500 XS than a TPO policy! Insurance pricing is completely bonkers!

gardner1

if it were me i would go for the £375 with £100 excess

ruggedtoast

A fully comprehensive policy is more gentlemanly than a third party only policy. I for one would be embarrassed to have only a TPFT policy, or to have to show such documentation to an officer of the law.

Hub

To a point, TPFT cover is for people who can't afford Comprehensive cover. There may a few benefits you'll lose out on by going for TPFT cover, the main one is the opportunity to make a claim. Also remember that you have to pay your excess in the event of a claim, so if the vehicle was stolen - even if you don't claim - you'll either lose the value of the vehicle, or - if you do claim - your excess. Even if you don't claim you'd still have to disclose the claim to future insurers, and if you do claim you might lose some no claims discount (if it's not protected). This is on the basis that you don't have a fault claim, but suppose an accident is your fault? What if someone drives into you and drives away? Do you need the vehicle on a daily basis? How would you cope without a vehicle? What if you were unfortunate enough to have two claims? All of a sudden £350 becomes £1000+...

If you can afford to run a car I'm guessing you can afford an extra £2 a week for comprehensive cover. Pay for the best you can afford, just in case.

System

Why not read the policy booklet from Elephant ? : http://www.elephant.co.uk/policyDocs/EL51%200811%20Policy%20Booklet.pdf

It is very clear what differences there are between Fully Comp and TPFT cover.

See :

Your Policy Schedule shows which sections of our cover apply to you

If you have chosen:
Comprehensive cover:
All sections of this guide apply

Third Party, Fire & Theft only:
Only sections 2, 3, 5 & 6 apply

Third Party only:
Only sections 3, 5 & 6 apply

General Conditions and General Exceptions
There are Conditions and Exceptions which apply to individual sections of the policy and General Conditions and General Exceptions which apply to the whole policy.

Since the policy booklet has Sections 1 through to 7, then obviously from the above info, Comprehensive cover adds Section 1, 4 and 7.
Section 1 : Own Car Damage
Section 4 : Windscreen damage
Section 7 includes : Personal Injury, Personal Belongings and Courtesy Car

Definately good value for the £30