Cambelt insurance?

darbs9172

Hi.

Although my car is 6 years old, it's only done 45k. My cambelt is due for a change at either 100k miles or at 8years... 8 years will come first. Now I know changing a cambelt and water pump can be expensive and was wondering if anyone has used a certain timing-belt failure insurance company out there.

Wont post the link to the site as I'll get accused of trying to sell the product.

dacouch

Do you understand what it covers and what it excludes?

00ec25

I really don't see the point of such insurance.
If the belt never breaks its a waste of money on premiums
If it does break and you make a claim then the damage to the car may not be fully covered

just replace the belt when its due and ignore insurance after all the cost is highly dependent on the car you drive. Mine cost me £140 on a mondeo, hardly a significant sum given the mileage I'd had out of the car by that stage

rs65

darbs9172 wrote: »

Now I know changing a cambelt and water pump can be expensive

Do you realise it doesn't cover that?

Just get it changed a bit early if it worries you.

SailorSam

I remember a first time poster coming on here last year saying he'd found this wonderful garage that offered insurance to cover the cost of cambelt replacement , unforunately for him he did try to leave a link. People soon told him he was a spammer trying to sell a service of his own that wasn't necessary.

dacouch

SailorSam wrote: »

I remember a first time poster coming on here last year saying he'd found this wonderful garage that offered insurance to cover the cost of cambelt replacement , unforunately for him he did try to leave a link. People soon told him he was a spammer trying to sell a service of his own that wasn't necessary.

Indeed the OP was logged off MSE within ten minutes of posting.

For the benefit of anyone arriving here courtesy of google, the Insurance the person who posed the question covers the consequential damage a cambelt breaking causes limited to certain parts of the engine with a total limit of £2000.

The cover does not cover replacing the cambelt or tensioners etc.

It's subject to the cambelt being changed at the manufacturers recommended intervals and you being able to provide documentation to prove it.

darbs9172

Thanks guys.

So in a nut shell, you're saying it's a waste of money? Trouble is, a cambelt can go at anytime...rare I know.

dacouch

darbs9172 wrote: »

Thanks guys.

So in a nut shell, you're saying it's a waste of money? Trouble is, a cambelt can go at anytime...rare I know.

You're paying £40 a year to cover the potential damage the cambelt breaking may do if it snaps providing it's been maintained as per manufacturer guidelines and you can prove this.

They do not cover all damage it could do

RedFraggle

If it stresses you that much make your next car one with a chain rather than a belt. Several have them.

vaio

yep, and then you can worry about the chain breaking/jumping, see the 2.2l vauxhall engine for example.

bring back OHV engines or even sidevalve

darbs9172

SailorSam wrote: »

I remember a first time poster coming on here last year saying he'd found this wonderful garage that offered insurance to cover the cost of cambelt replacement , unforunately for him he did try to leave a link. People soon told him he was a spammer trying to sell a service of his own that wasn't necessary.

That actual person was me. The insults I got were totally unnecessary and most certainly uncalled for.
After further investigations after not finding one review on this company, I decided to contact "used car expert" and "fca". Used car expert claim that this company are genuine yet when I asked them why have I not seen one comment about this company, they went all quiet. When speaking to FCA, I asked if this company was registered with them to which they said no....

Dear Mr...
Thank you for your recent email to the Financial Conduct Authority (FCA) regarding timing-belt-failure-insurance.co.uk.

I have searched the financial services register using the term ‘Timing Belt Failure Insurance’ and I can advise that we do not have a record of this firm on our register. The register is a public record of all the firms and individuals that we regulate. I have included a link to the register should you wish to check this (If you are unable to access the attached link please copy and paste this into a new browser):

fsa.gov.uk/register/home.do

We advise that you exercise extreme caution as customers of unauthorised firms do not enjoy certain protections. There is no recourse to the Financial Ombudsman Service should there be a reason to complain. There is also no recourse to the Financial Services Compensation Scheme should the firm go into default.

I trust my response has clarified that Timing Belt Failure Insurance is not regulated or authorised by the FCA.

Yours Sincerely,

I have since left a comment on this company's twitter page asking them why they have the FCA logo on their page when they are not registered with them.