Advice (3rd party, F & T vs Full Comprehensive) (young male)

Legacy_user

My car is worth approx £1500 and I have been driving for 3 years.

My current renewal quote was £340 with £500 excess, fully comp, 2 years NCB.

For Third Party, Fire And Theft, the cost is £260, which I find incredibly cheap for a 21 year old male.


Obviously I would rather save the £80, but can anyone warn me against third party, fire and theft, and what would you do if you were me?

Quentin

Can you afford (and will be happy) to lose everything if you write off your car on an icy road (for example).

If so, go for TPFT.

scheming_gypsy

Quentin wrote: »

Can you afford (and will be happy) to lose everything if you write off your car on an icy road (for example).

.

Although on a £1500 car, the insurance will probably (try to) pay out around a grand. Then deduct the £500 excess, he's left with £500 and back to 0 NCD which will eat the £500. So it might not make too much difference either way.

System

scheming_gypsy wrote: »

Although on a £1500 car, the insurance will probably (try to) pay out around a grand. Then deduct the £500 excess, he's left with £500 and back to 0 NCD which will eat the £500. So it might not make too much difference either way.

Thanks.

So would I get 1 year (meaning 3 in total, already have 2) no claims bonus on 3rd party, fire and theft? Or is it only fully comp where you get no claims bonus?

And why would the insurance company (Admiral) only pay £1000? Oh and excess is £500 voluntary, £150 compulsory, so £650.

scheming_gypsy

You get NCD on each of a policy including TPFT.

I rounded down to a grand just to make the maths even out. Although the car is 'worth approx £1500', insurance companies never seem to offer the full value so they might offer £1200 because that's what they value it at from their system.

System

thanks again for helping. it is actually £240 third party, fire and theft. Ridiculously cheap.