Insurance too cheap?

ChrisJD

When More Than left the motor insurance market, Swinton Insurance offered me a policy, at an attractive rate. I have seen some negative comments, but went ahead.

It is now time for renewal again, and they have reduced the cost from £257 last year to £243.

Using all the MSE recommended sources, my cheapest offer is £332 from Budget, most are over £400 for pretty much the same cover and terms.

Part of me just wants to stay with Swinton, but as with unusually cheap quotes in most parts of life, I can't help but feel I am missing something.

I'm over 70, have an 8 year old car, do low mileage and want comprehensive cover.

DullGreyGuy

half of claims is third party costs, insurers have to pay them by law so there won't be differences between policies. 

The other half are own vehicle damage and whilst there are terms you can add to help reduce this (eg extra excess if you dont use the approved repairer) its still broadly what the cars worth. Where you can flex costs is on the optional bits like courtesy cars, Driving Other Cars, personal possession cover, breakdown both in terms of if there is any cover and/or the level of cover. That said, not everyone needs all the bells and whistles so as long as the Swinton policy meets your needs go with it. 

Swinton's are a broker so you may want to check which insurer/underwriter they've put you with but as long as they are UK based there won't be that much variance. Motor is a very simple product compared to things like Home

strawb_shortcake

My insurance has only gone up £3 this year, and I had to report a no fault accident. I also didn't get the huge increases last year which seemed to affect so many, so still feels good value compared to many others.

XRS200

Mine went down too this year. I didn't worry about it.

HillStreetBlues

I just take the cheapest ended up costing £114 with 2 years NCB.

riskaverse1

My comment is about breakdown insurance experience over a few years.
  
In about 2019 the RAC left me, female, alone, in my seventies, for four hours on a fast straight stretch of road in the countryside where my car, half on and half off the road, caused a considerable impediment to traffic.  I understood from the van driver, who came eventually, that the system had forgotten about me.
   
I left and joined the AA, who later left me for a total of 17 hours, including overnight, on a steep country lane in East Devon at 6pm.  I had to walk a distance down to a pub to get a mobile signal, and then returned to may car. The AA undertook to arrive within two hours but eventually, in desperation, I returned to the pub, where the publican kindly drove me home after closing time.  I abandoned my car of course, and phoned again very early in the morning, where again they mistakenly logged me as a new call (I was later told) - in spite of all the info I gave them, and eventually sent out a local garage to tow my car at 11am.
What if the pub hadn't existed or I hadn't known where it was? I was compensated with £100.
I have to be careful with money, but this issue is not about money, it's about reliability when you're vulnerable.
 Green Flag was recommended by a garage friend.  They have an efficient system without the App. They keep contacting to let you know timings and distances away of the rescue service. With the App the service works in the same way.  The cost has risen to about £88 for this year, but, it's worth every penny for the security it gives.