fully comp or third party

wazza

Hi looking to insure my 1996mondeo TD which is worth less than £1000. In the past i was fully comp but this year the difference between FC and TPF&T is £100. Also being unemployed i am tempted to go TPF&T. I know the differnce but want some advice about if it ok to go for TPF&T. If i have an accident i will probably get part from scrapyard or scrap it.

Also being recently unemployed and looking for a job is it cheaper to insure as employed or unemployed?

blue_haddock

TPF&T makes much more sense than fully comp - the most minor of incidents would result in a write-off so may as well save money by lowering cover.

YorkshireBoy

blue_haddock wrote:

TPF&T makes much more sense than fully comp - the most minor of incidents would result in a write-off so may as well save money by lowering cover.

On the other hand, TPFT doesn't cover you for windscreen replacement which was £180 for my MK1 Mondeo a few years ago - OP's might be more if it has a "heated front screen". Might not have a choice to "leave it" if near MOT time!

wazza wrote:

Also being recently unemployed and looking for a job is it cheaper to insure as employed or unemployed?

Try a couple of online quotes with your old occupation and "unemployed" and see what the difference is. However, when you renew - DO NOT LIE.

Good luck with the job-hunting. Hope you get fixed up soon.

silverfoxdude

You could try this website, it was recommended on a thread here a while ago

http://forums.moneysavingexpert.com/showthread.html?t=68079

you could get a quote for both. I saved a small fortune using Swift, all you will need is a working printer to print off you docs

wazza

why are premiums more expensive if you are unemployed compared to working behind a desk?

YorkshireBoy

wazza wrote:

why are premiums more expensive if you are unemployed compared to working behind a desk?

Are they? Have you checked as I suggested? If they are, then my guess would be that they think you have more time on your hands to drive (as opposed to being parked up for 40+ hours a week in a company car park)?

wazza

YorkshireBoy wrote:

Are they? Have you checked as I suggested? If they are, then my guess would be that they think you have more time on your hands to drive (as opposed to being parked up for 40+ hours a week in a company car park)?

i see what you mean but by stating your annual mileage should verify that. Also dont think an unemployed have funds available to go for long drives if paying for petrol. I had assumed that the unemployed are less likely to drive during rush hour where people are getting to/from home

c_smith

Also bear in mind that when you are insured fully comp you are normally automatically insured to drive other cars on a third party basis. If you need to drive other cars on your own insurance then you'll need to go the fully comp route.

Try some of these websites for online quotes:

http://www.confused.com/
http://www.elephant.co.uk/
http://www.directline.com/
http://www.esure.com/

YorkshireBoy

wazza wrote:

Also dont think an unemployed have funds available to go for long drives if paying for petrol.

I wasn't suggesting they have, just that the insurance companies could apply a loading based on risk.

telly-addict

wazza wrote:

Hi looking to insure my 1996mondeo TD which is worth less than £1000. In the past i was fully comp but this year the difference between FC and TPF&T is £100. Also being unemployed i am tempted to go TPF&T. I know the differnce but want some advice about if it ok to go for TPF&T. If i have an accident i will probably get part from scrapyard or scrap it.

You may want to try getting a quote for comprehensive cover with a large excess, say £1,000. It has been mentioned on previous threads that this can actually be cheaper than TPFT cover for some reason. Plus you get the benefits of comp cover - windscreen cover, etc.

Previous posters have mentioned Norwich Union can quote with this increased excess. Try:
http://www.norwichunion.com/motor/index.htm

Good luck.

wazza

Update, i have used the recommended sites and found confused.com to provide the best quote. The quote ranged from 250 to 650 for fully comp. Have decided to stay with comp because of windscreen cover etc and its only 40 difference to tpft.

Confused has nominated peopleschoice/norwichunion policy. Applying for a quote directly on peoples choice website gives me the same quote. Is there any benefit for going through confused.com or direct to peopleschoice?

Interesting going direct on norwich union website and with a max excess of 700 it works out more than what peopleschoice quote