Car Insurance Article Discussion

RobG24

Hi,

I've heard that if you insure less seats than your car actually has it will reduce your insurance premium. I.e. insure four seats in a five seat car.
This is not something I ever plan on doing, even though 99% of the time I'm the only one in my car.
I'm asking because I was sceptical as to the legality of this, even if you only ever have the right number of passengers, and so wanted to know. Is this more of a case that the online computer systems allow this variable unwittingly, whereas a human insurance quote would not allow it?

Thanks,

Rob

IceHockeyHair

klint wrote: »

Not true. This person did not lie, and just did not realise. They had the same insurance policy for years. Then they were flashed by the camera. By the time the insurance renewal notice was sent, that was months afterwards, and they just filed the renewal notice away, not thinking about it, and just let the policy renew automatically (by direct debit.) It was only after they changed insurer, that the previous insurer found out about the points.



Exactly, that's why the insurance company had not lost a penny. If the insured person had claimed, the insurance company would most probably ask for a photocopy of the driving licence, as they often do. Then they would have said this policy is not valid, because of the points, and they would have refused to settle the claim. So there was no "increased risk" for the company.

Not correct. Even if the insurer invalidate the claim (which in reality most don't, they just pay out less than had the conviction been declared), the insurer is still liable for all aspects of a 3rd party claim.

3rd party costs being the majority of the claims that motor insurers bear, then the increased risk is clearly there

lighter_2

Passing the Advanced Driving Test run by the Institute of Advanced Motorists entitles you to apply for their associated 'Surety' car insurance policy.
The 'Skill for Life' including the Advanced Driving Test costs £99 (£79 under 26).

This policy has reduced premiums for most drivers, aged 18 years old and over.

See http://www.iam.org.uk/aboutus/93+per+cent+of+Advanced+Drivers+pau+less+for+their+insurance+with+the+IAM+-+Motorshow.htm

klint

I am in the process of filling in an online quote form, and one of their questions started me thinking. After asking for number of years no claims, they ask if the no claims bonus was protected. What difference does that make to the quote? I mean it's not as if I have that many years because of the no claims protection, but because I haven't claimed. It would still have been the same number of years of no claims, whether it was protected or not. I fear that replying "yes" would make my quote higher because they think I may have claimed but didn't lose the bonus because of the protection. Does anyone know how this question affects the quote?

raskazz

klint wrote: »

I fear that replying "yes" would make my quote higher because they think I may have claimed but didn't lose the bonus because of the protection. Does anyone know how this question affects the quote?

This isn't the case, because you have to declare all relevant claims or losses regardless of whether your NCD was protected. I thik it's more likely that it's included so that when the premium is presented to you after the information gathering process, it is tailored to your requirements (i.e. it includes NCD protection).

klint

Thanks for the reply. Another query - is it typical for a website to quote you a different premium for exactly the same policy depending on how you were referred to that website?

I used CompareTheMarket.com and found M&S would insure me for £191. I then went to topcashback.co.uk and saw that I could get £31 cashback by clicking through to the M&S website. So I clicked through, filled in the proposal form, and this time got a quote for £255.

I then went back to CompareTheMarket.com, and clicked through to M&S from there, to double-check their quote. Sure enough, it was still £191. Same website, exactly the same cover from the same insurance company, with the same personal information typed in. The only thing that differed was the referring website (containing the link to the M&S site), everything else was the same, yet I had such vastly different quotes. The difference was even greater than the cashback offered through topcashback.co.uk.

mcmaster

After Insuring My Vehicle In May @ £32 A Month Dd, I Recently Sold The Vehicle And Contacted My Insurance Co To Cancel The Policy, Only To Be Told It Would Cost Me £193.00 To Do So. I Got This Insurance Via A Comparison Site. Amongst The 26 Pages Of The Agreement In Very Small Print Was This Horror Of The Cancellation Cost...........say No To Yes, Or Squint Over 26 Pages Of Senseless Drivel And Beware Of One Certain Paragraph...the Cost Of Cancellation.

palicia

My Son just got his 2nd year car insurance which was £1500 a big increase on last year even with no claims. He changed his job from being a bricklayer to a gardener and thought he would try a quote to see if it made a difference, what a shock to find it came up a £1000. cheaper, every time he has tried to call up his insurance he never gets a reply. I'm not sure who his insurance company is but has anyone ever got a rebate for the difference, because am sure if it had been the other way round he would be expected to pay the increased difference.

raskazz

klint wrote: »

Thanks for the reply. Another query - is it typical for a website to quote you a different premium for exactly the same policy depending on how you were referred to that website?

I used CompareTheMarket.com and found M&S would insure me for £191. I then went to topcashback.co.uk and saw that I could get £31 cashback by clicking through to the M&S website. So I clicked through, filled in the proposal form, and this time got a quote for £255.

I then went back to CompareTheMarket.com, and clicked through to M&S from there, to double-check their quote. Sure enough, it was still £191. Same website, exactly the same cover from the same insurance company, with the same personal information typed in. The only thing that differed was the referring website (containing the link to the M&S site), everything else was the same, yet I had such vastly different quotes. The difference was even greater than the cashback offered through topcashback.co.uk.

Yes, definitely. Insurers will keep an eye on the sources of their business and the profitability of business from each source, and can alter their prices accordingly. Just take whichever is cheapest!

cairndog

Hi does anyone know whether you can take a lower quote from a comparison site for the same company you're with now, then cancel the more expensive renewal?
Don,t you show up on their database when you input your details ?
Tesco are giving 1000 clubcard points until 17 sept and mine is one of the participating companies.
I havent got a quote from the site yet but "YES" were the best I found last year, and they've just sent my renewal.
ANYONE OUT THERE DONE THIS?