Insurance - any point getting comprehensive?

The Big Red Button

I've had my car (1998 Mitsubishi Colt) for almost a year now, and the insurance will soon be up for renewal.

When I got quotes last year, the best price I got for third party fire and theft was approx 550euro. The best price I got for comprehensive insurance was approx 750euro. I went for the 3rd party fire and theft in the end. I would imagine that these prices will be roughly the same this year.

As I have a bit more money this time around, I was going to get the comprehensive insurance. However my boyfriend says it'll be money down the drain as, even if my car was written off, it wouldn't be worth while claiming as the insurance companies will only give me the book value of the car and my premiums will go way up, so I'd be worse off in the end.

Just wondering would you agree with that? Should I just stick with the 3rd party fire and theft?

Thanks!

unkel

Your boyfriend is right. The value of your car is so low that in the event of a claim you'll get only a few hundred euro. And your premium would go up. If the difference between 3PFT and fully comp is two hundred euro, you might as well pocket it and don't go comprehensive.

Hotwheels

As the car is 1998 3rd party fire and theft is is good enough, because of the value of the car.

You can pay an extra few bob a year for a no claim bonus protector with comprehensive. protecting your bonus in the event of you claiming off your own policy...

BeardyGit

Depends on what else comes with the comprehensive policy. Mine offer me the following over and above what's included in the same insurers TPFT policy:

Full glass cover, which won't affect my NCB if I've to make a claim
Full breakdown cover and homestart assistance, which cost me €170 with the AA last year
Personal belongings cover against theft or accident damage for up to €400 and audio equipment cover of €250
Medical expenses cover for me, which you will never get on TPFT, up to €1270

I was the victim of a hit and run a couple of years back (documented in full here) but as I had only TPFT cover at the time, I ended up footing the bill for losing the vehicle (even at a paltry 2k book value), my medical costs, recovery and disposal of the wreck. All in, it ended up leaving me €3500 or so out of pocket.

If I'd had comprehensive insurance, it would have cost me €300 out of pocket, plus the €200 per annum difference in premium.

I won't ever have a policy that's not fully comprehensive, and nor will my wife for that matter. We learned our lesson that just because the car is old and low value, doesn't mean it's worth scrimping on the cover, for all the extras it gets when you need to claim.

Anyway, hope that helps,

Gil

Barr

The prices are normally much closer these days between comp and tpft, especally with an older car . Which company are you using btw?

axer

Gil_Dub wrote: »

my medical costs

I was under the impression that comprehensive doesnt mean medical bills of the policy holder are still not covered - that comprehensive just means the policy holder's car is covered.

The Big Red Button

Barr wrote: »

The prices are normally much closer these days between comp and tpft, especally with an older car . Which company are you using btw?

It's Eagle Star, through a broker, though I'll be shopping around again this time just in case I can do better. I doubt I will though, I'm actually pretty happy with what I'm paying.

I'm still undecided ... I get what you're saying, GilDub, but I suppose a hit-and-run situation is (hopefully) pretty unlikely, and in any other case where I'm not at fault, all my expenses would be theoretically covered by the other driver's insurance yeah? So unless the difference between the two has dropped a lot since last year, I think I'm leaning towards the 3rd party fire and theft.

Thanks for all your advice!

Barr

If you shop around you should be able to do better , as you a through a broker they take a comission as well . Go through the phone book and ring direct - you will get a far better price.

Steve

If you're co-habiting then ask for a quote including your BF as a named driver - it'll be way cheaper.

Confusing I know but true.

TestTransmission

Steve wrote: »

If you're co-habiting then ask for a quote including your BF as a named driver - it'll be way cheaper.

Confusing I know but true.

Will it?

I brought up my gf's policy,while she brought down my policy by going onto it.

Steve

jackncoke wrote: »

Will it?

I brought up my gf's policy,while she brought down my policy by going onto it.

Both of ours went down and it was the same with a few friends who tried it.

When I was renewing about three years ago, the nice lady on the phone told me about it. I guess it varies with circumstances but it's worth a shot.

The Big Red Button

Yeah I already did that last year, it brought both of our policies down a bit.

I was just thinking - I have VHI - in a hit and run situation, I presume that would cover at least some of my medical costs wouldn't it? So there's another reason not to bother with the comprehensive insurance!

I'll wait and see what quotes I get anyways.

Del2005

Gil_Dub wrote: »

Depends on what else comes with the comprehensive policy. Mine offer me the following over and above what's included in the same insurers TPFT policy:

Full glass cover, which won't affect my NCB if I've to make a claim
Full breakdown cover and homestart assistance, which cost me 170 with the AA last year
Personal belongings cover against theft or accident damage for up to 400 and audio equipment cover of 250
Medical expenses cover for me, which you will never get on TPFT, up to 1270

I was the victim of a hit and run a couple of years back (documented in full here) but as I had only TPFT cover at the time, I ended up footing the bill for losing the vehicle (even at a paltry 2k book value), my medical costs, recovery and disposal of the wreck. All in, it ended up leaving me 3500 or so out of pocket.

If I'd had comprehensive insurance, it would have cost me 300 out of pocket, plus the 200 per annum difference in premium.

I won't ever have a policy that's not fully comprehensive, and nor will my wife for that matter. We learned our lesson that just because the car is old and low value, doesn't mean it's worth scrimping on the cover, for all the extras it gets when you need to claim.

Anyway, hope that helps,

Gil

Can all that not be claimed against the uninsured drivers fund we all pay into? I know it can take a while but I thought that's why we paid into it.

BeardyGit

chatterpillar wrote: »

Yeah I already did that last year, it brought both of our policies down a bit.

I was just thinking - I have VHI - in a hit and run situation, I presume that would cover at least some of my medical costs wouldn't it? So there's another reason not to bother with the comprehensive insurance!

I'll wait and see what quotes I get anyways.

Had I had fully comprehensive at the time, the medical expenses cover would have paid for my hospital fees, outpatient charges, taxis to and from there, physio visits, medication and follow up GP costs for about a year afterwards for repeat pain meds etc. in full. It actually cost me about €20 to have the medical expenses/personal injury cover, but it's only available with fully comprehensive. As it was, that cost me the guts of €1500....which now I recall, brought the total cost of the accident to about a €4k loss from my own pocket.

The recovery charge was another €180, with 3 days storage at about €30 per day, and then a €370 charge for disposal of the vehicle (I know, I was screwed, but I didn't have the choice without paying another fee to have it delivered to a scrapyard from where it was recovered to!)....

The truth is that you might save yourself a few quid each year and never have a need for the extras. For me, I've been there once and I can tell you I never want to be there again, but if it ever happens (and let's face it, we're all on the roads a lot these days), I'll have the cover if it all goes wrong again in the future. That peace of mind for me is worth the €80ish extra it's costing me now...which is about a 20% premium increase over a TPFT policy.

At the time, I had stuck with TPFT because I couldn't foresee a situation where I'd benefit from having it. That all changed in an instant.

Anyway, we all make our own decisions and we can't pre-empt everything I guess. Best of luck,

Gil

The Big Red Button

It's a tough one. I don't want to be kicking myself a couple of months down the line because I was warned of the danger and still didn't get the comprehensive. I'll do plenty of ringing around before I get it and see how my finances are at the time. Thanks for all the advice!

BeardyGit

Del2005 wrote: »

Can all that not be claimed against the uninsured drivers fund we all pay into? I know it can take a while but I thought that's why we paid into it.

Nope. We didn't get the reg of the landrover that side swiped us on the M50 and the investigating member of AGS didn't have the foresight to request footage from the NRA/M50 operator until a week after it was overwritten....

Without the registration of the vehicle that hit you, you don't get anything other than possibly a small personal injury compensation payment for really serious types of injuries. Both my (now) wife and I suffered back injuries, but they've not caused us trouble for the last 12 months now (touch wood) and neither of us would claim for that bit anyway. The way the MIB work it is that we couldn't give the reg, so they couldn't prove there wasn't insurance on the vehicle, and they also couldn't pursue the owner of the vehicle because of the same reason! Suits them.....

At the time, all I would have wanted was not to be out of pocket and to have a few bob to put a new car under our arses. Luckily my old man sorted me out with a few notes to get me going, but that had to paid back. Now that I think of it, props to the Boardsie who even offered me a car, taxed and tested, for nowt - You know who you are and I've not forgotten.

So, no - The uninsured driver fund wouldn't have done anything for us really. A comprehensive policy would have put €4k back in my pocket....

Wishbone Ash

unkel wrote: »

Your boyfriend is right. The value of your car is so low that in the event of a claim you'll get only a few hundred euro. And your premium would go up. If the difference between 3PFT and fully comp is two hundred euro, you might as well pocket it and don't go comprehensive.

I don't know anyone who gets comprehensive insurance to sort out a vehicle!

Most people are thinking about medical bills etc.

To get third party insurance on it's own is insane IMO!

The Big Red Button

Wishbone Ash wrote: »

I don't know anyone who gets comprehensive insurance to sort out a vehicle!

Most people are thinking about medical bills etc.

To get third party insurance on it's own is insane IMO!

But since I have health insurance, would that not cover medical bills?

Must dig out my policy details and check that! But I'd imagine it would at least partially cover them?

sogood

Steve wrote: »

If you're co-habiting then ask for a quote including your BF as a named driver - it'll be way cheaper.

Confusing I know but true.

You dont have to be cohabiting, as is the case with me and my named driver.

Stainless_Steel

Tis all risk assessment...and depends on your personal circumstances...

Would I pay 200 extra for comprehensive insurance on a brand new car? Yes!

Would I pay it for an 11 year old car thats worth near scrap value according to the insurance companies? Probably not....

Regarding uninsured drivers hitting you...of course its possible but again a risk assessment....very low probablity of happening throughout the year of your policy....so still a no.

But that's just me.

stealthyspeeder

My Comprehensive insurance lets me drive any other comprehensively insured drivers car which can be very useful sometimes!

Also My falt mate is getting a VX220 turbo next week, so im really glad of this benefit!

Drummerboy08

You live with a woman???!

kdevitt

Will always go with fully comp. Was hit about 5 years ago by an uninsured driver - because I'm on fully comp the car was repaired immediately. Had I been TPFT I would have had to wait for a full investigation to resolve the incident before they'd of paid out.

Considering that my case to get medical bills is still dragging on, I would have been royally fcuked I'd imagine!

R.O.R

stealthyspeeder wrote: »

Also My falt mate is getting a VX220 turbo next week, so im really glad of this benefit!

Man, you are going to be sooo gutted when you can't pour yourself in to the cramped cabin :D:D

stealthyspeeder

Drummerboy08 wrote: »

You live with a woman???!

Fraid not, hes a 6 ft 1 skinhead!! not the typical driver of these type of track toys

R.O.R wrote: »

Man, you are going to be sooo gutted when you can't pour yourself in to the cramped cabin :D:D

I made I mistake in that post, I rang him there and he actually got it over in England today! he is a good bit shorter than me and he says that it takes him a very akward and undignified 10 seconds to get into it!:eek:

AlienGav

Is fully comp the only type of insurance that allows you to drive other people's cars? Or does third party provide some sort of cover?

stealthyspeeder

AlienGav wrote: »

Is fully comp the only type of insurance that allows you to drive other people's cars? Or does third party provide some sort of cover?

On my policy it was a £30 a year extra on my fully comp. well worth it, It provides me with 3rd party insurance on the other vechile if I am driving it with the owners permisison and they are also fully comp.

I dont think 3rd party would allow you to drive any other car other than the one you are insured on unless itwas 3rd party traders insurance.

Blut

stealthyspeeder wrote: »

I dont think 3rd party would allow you to drive any other car other than the one you are insured on unless itwas 3rd party traders insurance.

Third party with Quinn Direct lets you drive other cars with 3rd party insurance as long as you have a full license, no extra fee involved.