Fully comp car ins cheaper than TP. Which is the best option?

anewman

I am a completely new to insuring cars as I have just passed. I have done lots of quotes and found an interesting anomaly. Looking on ecarinsurance.co.uk (under the monthly payg 8 months = 1 year no claims bonus accelerator policy) I have found out for a car I am interested in fully comp is cheaper than TPFT which is cheaper than TP alone (seems weird) If I select £500 voluntary excess.

£81.65 a month fully comp (£500 voluntary excess)
£84.10 fully comp (£250 excess)
£86.46 (£200)
£100.81 (£0)

£83.66 TPFT
£89.18 TP only

The final quotation screen for comprehensive also suggests Breakdown Recovery Including Homestart, and Windscreen Cover are included, but are not with TPFT or TP.... Although paying monthly will cost more than yearly, I will get 1 years no claims after 8 months so hopefully my premiums will go down. Also as the car itself is likely to be scrapped within a year, it means I will not be penalised for cancelling the policy if needed, by anymore than what's left in the month paid for.

I would never claim if the car itself was stolen as the car is pretty much worthless (it is being offered to me free of charge) most expensive things would be my own property and the stereo.

In this case, even though the car is worthless is it worth getting fully comp because it is cheaper? If I report a car as a total loss to the police and DVLA etc would I *have* to claim on the insurance and take the excess hit, lose NCD etc? If I don't then I'll go for fully comp £500 voluntary excess.

Thanks in advance for any thoughts or advice on this

Edit: Also on fully comp option I think I would be covered to drive other cars third party (if I understand the literature correctly) which could be useful.

marcellep

If your saying the car is worthless and possibly wont last the next 12mths I would go for the cheapest TPFT option available to you. There is no real need to have fully comp as the excess would possibly be higher than the value of the car. So therefore you would get nothing back.
Keep in mind that your excess can't be higher than the value of your car.


£83.66 TPFT is the option I would go for

movilogo

If fully comp less than TP then there is no reason for not taking up fully comp
usually you're allowed to drive other cars as TP with fully comp but do check with your insurer first.

marcellep

movilogo wrote:

If fully comp less than TP then there is no reason for not taking up fully comp
usually you're allowed to drive other cars as TP with fully comp but do check with your insurer first.

Yes there is, Excess is same value of the car that is not allowed. Any insurance comp should not sell a polict where the excess is more than the value of the car.

You may find that TPFT and TP only will possibly have the polict Extension of DOC.

Astaroth

Driving other cars is not exclusive to comprehensive insurance - they typically do have age or experience conditions so as the OP has only just passed their test may not be entitled to the DOC even if the insurer offers it on their policies

Remember that on top of your voluntary excess you are also going to have a young drivers/ inexperienced drivers compulsory excess - if this is more than the vehicle itself is worth then you may as well just put the voluntary excess as high as you can as you will never claim for losses of your own vehicle.

impy78

Hmm, it depends on what type of car it is that you are getting - certain cars will attract a "Loaded" premium on third party only , as do drivers under the age of 35.


The cars I mean are things like, any BMW however old, saabs, any xri, xr3i, xr2i srx cars - as well as the usual suspects - ford escorts, ford fiestas, vauxhall astras and volkswagen golfs.

I would personally go with what is cheapest, as although there is an excess on the comprehensive claims, there is still a nil excess on thrid party claims, whichever cover you choose, and then if you do need to claim for your car, it is up to you whether you do so or not.