some advice on car insurance excess please?

apesxx

hi, could really do with some advice. after my car got wrote off at new year by a hit and run driver i have been left with no car and looking at sky high insurance premiums.

my dad has given me his old car for now, its a w reg focus but the problem is its 2 litre. I have looked for insurance quotes and fully comp is coming in a lot cheaper than 3rd party.

my question is if i was to take out the fully comp and set a sky high excess knowing i would never claim for my car in the event of an accident would i still have to pay the excess to the 3rd party. i ask this as in the past i had a claim and because i did not claim for my car as it was undamaged i didnt have to pay any excess. If this is still the case it would put me in a much better position. even though i still have 5 yrs no claims (obviously now with 1 claim on file) and 8 yrs driving experience and am 25 the quotes are coming in at over £1000 where 2 yrs ago i was paying £400

apesxx

i forgot to mention that my dad has given me the car so i wouldnt owe him anything in the event of an accident.

mikey72

No.

You only pay the excess on your own claim.
The insurer pays the third party in full.
So if like us, you have a £400 car with a £1000 excess, you get cheap insurance, but will never get any payout on your own claim.

apesxx

so it would definately be worth me putting a massive excess on the policy as i have absolutely no intention of claiming for the car as it will be off to the scrappy after i have finished with it. this brings the quotes down by about £400. many thanks x

mikey72

try cartakeback.com when the time comes.

apesxx

also what would i put as the accident type. it was a hit and run but there does not seem to be any option for this. is it -accident- driver at fault or malicious damage? you would think there would be an option such as hit and run- claim from my policy and hit and run- all cost recovered etc.

adamc260

apesxx wrote: »

also what would i put as the accident type. it was a hit and run but there does not seem to be any option for this. is it -accident- driver at fault or malicious damage? you would think there would be an option such as hit and run- claim from my policy and hit and run- all cost recovered etc.

Care to elaborate a bit on Hit and run?

Were you hit whilst parked and unattended?

Were you stationary at lights?

Hit whilst driving and the person just drove off?

Find the closest one you can based on the circumstances.

apesxx

adamc260 wrote: »

Care to elaborate a bit on Hit and run?

Were you hit whilst parked and unattended?

Were you stationary at lights?

Hit whilst driving and the person just drove off?

Find the closest one you can based on the circumstances.

Hit in the middle of the night whilst the vehicle was parked and unattended. unfortunately the 3rd party has not been caught

adamc260

apesxx wrote: »

Hit in the middle of the night whilst the vehicle was parked and unattended. unfortunately the 3rd party has not been caught

Then list it as hit whilst parked/unattended (or the closest possible one).

If you claimed you need to list it as fault sadly