75ZT CommunityA social community of enthusiasts, owners, appreciators and collectors. With expert knowledge of all things from MG to Rover and beyond.2013-08-29T15:01:19+00:00https://www.75ztcommunity.co.uk/feed.php?f=2&t=7401&mode2013-08-29T15:01:19+00:002013-08-29T15:01:19+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69535#p69535 Bearing in mind that my quotes so far for this coming renewal are less than £200, Allianz just quoted me... £780. and you have to pay extra for third party cover on other cars. Well... that all seems remarkable value for money
]]>2013-08-21T14:58:30+00:002013-08-21T14:58:30+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69299#p69299 Fully comp would cost more, and when considering the excesses applicable, the extra cost of fully comp over just a few years and the odds of having the car written off in the next few years, it makes sense to stick with TPFT as in a few years (4 at the most, perhaps fewer) I would save enough to buy nice 75!
So the savings in my case will add up to a replacement in a few years, negating the need for fully comp, especially when considering the excesses still involved.
]]>2013-08-21T14:26:03+00:002013-08-21T14:26:03+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69297#p69297 Those seeking 3PFT are assumed to be relatively unconcerned about ‘own damage’. Possibly because the car is a cheapie and therefore the driver is more likely to be of less sound character (!), or because of lack of funding (lower socio/economic groups, and I know readers may find this new to them or hard to believe, are perceived as having higher ‘risk profiles’), or as being just temporary and non cost-effective.
To actuarial sensibilities all of this represents a higher risk profile, and so the premium is loaded.
Another point to consider about when a car becomes uneconomical to insure comprehensively is the write-off value v. excesses v. premium.
For instance, if your premium at renewal is, say, £200, and your excess is £50, and in some cases the written-off or stolen and unrecovered value may be as low as £300, then in the event of a write-off you will receive £250. So you have paid £200 to insure for £50! Pretty lousy odds! But that’s not all.
In the above event your ‘annual’ policy is cancelled. When you reinsure your replacement car you start your insurance ‘year’ again from scratch (subject to possibly one or two less years NCD). If you try to insure elsewhere you must declare a total loss. Guess what happens then? Of course if your excess is greater than £50, and most are considerably more, the figures are even more startling.
]]>2013-08-21T11:41:18+00:002013-08-21T11:41:18+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69293#p69293
]]>2013-08-21T11:37:32+00:002013-08-21T11:37:32+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69291#p69291 Just a window replacement makes Comprehensive Insurance worth it around here.
]]>2013-08-20T23:27:32+00:002013-08-20T23:27:32+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69274#p69274
]]>2013-08-20T22:38:25+00:002013-08-20T22:38:25+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69272#p69272
]]>2013-08-20T21:26:34+00:002013-08-20T21:26:34+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69268#p69268 I think that is a fairly conclusive, dare I say comprehensive answer.
]]>2013-08-20T21:22:07+00:002013-08-20T21:22:07+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69267#p69267
]]>2013-08-20T21:19:31+00:002013-08-20T21:19:31+00:00https://www.75ztcommunity.co.uk/viewtopic.php?t=7401&p=69266#p69266 Perhaps a quick compare the meerkat asking for TPFT might be revealing.
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