12 yr old car, is it worth comprehansive insurance?

Ian_W

mattymoo wrote: »

The clue is in the location. Cornwall. Generally much lower premiums than other places.

Well you live and learn!
Every time we're down there there seems to be fatals and serious accidents and road closures because of them on PirateFM all the time. Last week a double fatal near Trago Mills/Bodmin Parkway Station. And it's 50 miles minimum to the nearest motorway which I always thought were the safest roads!
So N9eav consider yourself lucky - there might be sky high house prices but your car insurance is dirt cheap.
Is household insurance also cheaper there, mattymoo?

N9eav

I never thought about location for car insurance. It was with More than anyway on an old 1997 Fiesta 1.3. But there were several others cheapish. Post Office are working hard to sell insurance these days and they were pretty cheap.
Car insurance may be cheaper, But you should see our water charges!!!

mattymoo

Ian_W wrote: »

Well you live and learn!
Every time we're down there there seems to be fatals and serious accidents and road closures because of them on PirateFM all the time. Last week a double fatal near Trago Mills/Bodmin Parkway Station. And it's 50 miles minimum to the nearest motorway which I always thought were the safest roads!
So N9eav consider yourself lucky - there might be sky high house prices but your car insurance is dirt cheap.
Is household insurance also cheaper there, mattymoo?

The insurers look at a number of risk factors in relation to postcodes.
Risk of flooding -you can see this info on the Env. Agency maps but insurers systems tend to be more sophisticated.
Risk of theft. The insurer simply looks up incidence / size of theft claims and compiles the stats for each postcode.
Police / brigade coverage.
Risk of subsidence (mapping systems again, linked to historical claims data).
Exposure to storms.

Cornwall scores well on most of these apart from some localised flooding issues.

As for motor insurance, the pace of life in Cornwall is generally slower. Compared to say driving in any major city, Cornwall will be a lower risk. Coupled with reduced incidence of theft and it really is quite lovely from an insurers point of view.

Parts of Norfolk, North Wales and the Scottish Highlands are also considered low risk.

PS: I used to write the matrix systems the underwriters use when specifying security standards. This was in relation to commercial claims though. If you had £5k of target goods (cigs, cash, computers, fur, leather etc) on a premises in Liverpool or London, you would insist on remotely monitored alarms etc. We would accept up to £50k in some parts of Cornwall (not cigs or cash though), before insisting on similar protection levels.

N9eav

mattymoo wrote: »

As for motor insurance, the pace of life in Cornwall is generally slower. Compared to say driving in any major city, Cornwall will be a lower risk. Coupled with reduced incidence of theft and it really is quite lovely from an insurers point of view.
.

Great place to live, which is why our housing prices are the highest in the country when compared to income. Water rates are huge and the locals won't like you. So don't move down here :rotfl:

BestAdviceUk

espresso wrote: »

Where did you pluck that figure from then? You don't know the value of the car or the premiums for TPFT or comprehensive cover.

:rolleyes:

Dear espresso

Correct, I don't know the value of the car which is why I am saying as a rule of thumb the more it is over £1,000 in value the more you need comprehensive cover. The less it is under £1,000 the less you need comprehensive cover.

Very often policies have compulsory excesses and a lot of people that have comprehensive cover have voluntary excesses also to bring the premium down and therefore, there comes a point where comprehensive cover becomes less and less value for money.

Insurance is all about value for money.

before_hollywood

price both up, if the difference isn't much then go fully comp, hang on you protect your ncb? surely to keep that you have to go fully comp? i have 5 years and would always protect it

Andy_Edinburgh

I'm in a similar situation (12yr old car, good condition but worth <£1,000); in my case I think it's worth extra for comprehensive because I get additional benefits (guaranteed hire-car, additional protection against uninsured drivers, protected NCB, windscreen cover, etc.) and my good driving record means Comp isn't much more expensive than TPFT anyway.

BestAdviceUk

before_hollywood wrote: »

price both up, if the difference isn't much then go fully comp, hang on you protect your ncb? surely to keep that you have to go fully comp? i have 5 years and would always protect it

Dear before hollywood

Just to let you know, you can have protected bonus on third party fire and theft and comprehensive insurance cover.

It goes without saying that if there is little difference between the two prices, then always opt for the comprehensive cover.

shelly

BestAdviceUk wrote: »

Just to let you know, you can have protected bonus on third party fire and theft and comprehensive insurance cover.

Since when have insurance companies started allowing you to protect NCB on a TPFT policy?
When I call for quotes and say I want to protect our NCB they always say you have to be fully comp to do that.

raskazz

shelly wrote: »

Since when have insurance companies started allowing you to protect NCB on a TPFT policy?
When I call for quotes and say I want to protect our NCB they always say you have to be fully comp to do that.

It's fairly common that you can protect NCD on any level of cover. Usually the only requirement to protect is that you must have built up a minimum number of years of NCD - say 3 or 4 years.