Will I go comp or third party for insurance?

buzz55

Car is 9 years old, value of about 3 grand realistically. If I'm lucky even.

I've full no claims, full license, no claims or penalty points.

Comprehensive coming in @ 420 euro including brokers fee. Fully protected no claims bonus with that, plus windscreen cover, breakdown assist etc.

123.ie are saying they will do third party, fire & theft for 250 euro......

I've always had comp, but 170 quid of a difference is not to be sniffed at in these recessionary times.

If I crashed/damaged my own car & no one elses - realistically I prob wouldn't claim on insurance, I would just try and get it fixed myself.

If I crashed in to someone else and had to claim anyway (to fix their car), well I guess it would be kind of nice to get something for my own if I had to claim anyway.

Any advice? I'm totally torn

Max Power1

3rd party imo.

Why pay fully comp for cover that you will most likely not use, on a car thats only valued at 3 grand anyway?

Duiske

Personally, i'd go with the fully comp. The added peace of mind of having my car and NCB fully covered, plus the glass, breakdown assist etc, would be well worth the extra 3.25 a week in motoring costs.

qz

Fully comp where possible.

Max Power1

qz wrote: »

Fully comp where possible.

Even with the low value car?

Assuming no other difference in NCB protection/cover etc

Absurdum

that's quite a difference, try and get them down a few quid

If you have full NCB you would be mad to not protect it, I've never had comp insurance but I've always protected the NCB

coylemj

You'll find that the no-claims bonus for the comprehensive part of the policy is separate from the 3rd party element meaning that if you claim for damage to your car caused by you, it will not affect the 3rd party part of the policy.

Are you sure that your car is worth 3K? If you have fully comp. and you drive it into a wall and total it, the insurance company will pay you what they (and not you) think the car is worth. You need to remember that this will not include the additional value you probably place on the fact that the car has been well looked after by you, has low mileage, is cleaned weekly, fully serviced etc. Most people have an inflated view of the value of their car, they only get a reality check when they try to sell it or trade it in or have to accept an insurance company's valuation when it's written off.

Take a cold look at your car and work out what the same model would cost to buy in a private deal, then figure out if you could replace the car if it was written off by you, then decide if you want to take the chance. At the end of the day it's a gamble, can you afford to take the risk? If you can then drop the fully comp. but pay the few bob for windscreen coverage.

Atlantic Dawn

It's an extra 46 cent a day, when your driving this winter in the ice and snow you will feel that bit better knowing you have fully comp should she go in to a ditch.

coylemj

Atlantic Dawn wrote: »

It's an extra 46 cent a day, when your driving this winter in the ice and snow you will feel that bit better knowing you have fully comp should she go in to a ditch.

Spend the money on new tyres instead, then you won't have an encounter with a ditch!

buzz55

Thanks for all the replies. Similar cars/mileage vary between 2,800 and 5,000 on carzone.ie so I think 3,000 is a reasonable figure.

I think for peace of mind I'll go with the fully comp. Its just damn annoying that even though I'm getting older, the car is getting older so worth less, and I've more claim free years driving (all things which the insurers say matter), my premium still seems to be going up

Fey!

I went through this a couple of years ago, and switched from 3rd party to fully comp. I had a full NCB, and had never crashed on a public road.

4 months later I came off a roundabout at 30kph, spun, went backways down an embankment and through a wall, writing off my car in the process.

Unfortunately I was underinsured (had a value of €3,000 on the vehicle, where the replacement cost £4,000 + import + VRT), but at least with the fully comp I got €2,850 after the excess.

With 3rd party I would have gotten nothing.

Hope this helps.

Vertakill

170 quid over the course of a year is not that much. And the added security of fully comp is definitely worth it.
If the car is worth 3 grand and you skid off the road and write it off... you'd be kicking yourself for skimping on that 170 euro.

Marcusm

I have often wondered what the personal injury position is on 3rd party policies, ie in the event of injury to the driver. I assume (but could be wrong) that there is a difference. Maybe I should just read the policy document....

Top Dog

3 grand is a kinda borderline figure for me personally - and for a vehicle worth 3k or more I'd go fully comp.

Worth any less and I'd go TPF&T but get the windscreen cover added as its the only thing I'd be likely to claim for, plus it has no impact on renewals if you do claim for a new screen

osiri

Insurance companies are in the business of making money. They wouldn't offer you a product where your expected gain would be positive. So unless you know something they don't (i.e that you are definately going to crash in the next year) you'd be better off getting the minimum legally required cover.
Unless of course as some other posters have mentioned you want the "peace of mind" or if financially you wouldn't be able to afford a new car without fully comp.

Personally I think the NCB protection and some similar add ons are a gimmick. But roadside assist and the ability to drive other cars is a real benefit.

celticbest

Fully Comp, it's a no brainier, it's not about the value of your car, it's peace of mind if you get injured in a crash which is your fault. Your Insurance will cover all your claims if there legit whereas with third party they will only cover the person you hit which could leave you 1,000's out of pocket.

CiniO

celticbest wrote: »

Fully Comp, it's a no brainier, it's not about the value of your car, it's peace of mind if you get injured in a crash which is your fault. Your Insurance will cover all your claims if there legit whereas with third party they will only cover the person you hit which could leave you 1,000's out of pocket.

I think you are wrong.

Full comprehensive policy will cover your car. Not you.
It won't cover any compensation to you if you are injured and you caused an accident.
They will only pay for the damage to your car.

celticbest

CiniO wrote: »

I think you are wrong.

Full comprehensive policy will cover your car. Not you.
It won't cover any compensation to you if you are injured and you caused an accident.
They will only pay for the damage to your car.

I'm with 123.ie and they do cover personal injury.

Comprehensive cover protects you from claims made for accidental damage to your own car as well as claims by Third Parties, including passengers for personal injuries or damage to property. You are also protected in the event of damage to or loss of your car by fire, theft or attempted theft.

Features:

Step Back No Claims Bonus
Driving Other Cars Extension (For drivers 25 and over with a Full Licence)
Fire Brigade Charge - up to €1,500
Replacement Locks - up to €1,000
24 Hr Breakdown Assist, 365 Days
Permanently Fitted Radio/Audio - up to €500
New Car Replacement
Windscreen Repair / Replacement
Temporary Courtesy Car if using an Approved Repairer by the insurer in the event of you making a valid claim. Restrictions apply so please contact Claims first
Emergency Overnight Accommodation - up to €380
Medical Expenses - up to €250
Personal Effects - up to €300
Personal Accident - up to €5000

http://www.123.ie/misc/motorfaq.htm

coylemj

Fey! wrote: »

I went through this a couple of years ago, and switched from 3rd party to fully comp. I had a full NCB, and had never crashed on a public road.

4 months later I came off a roundabout at 30kph, spun, went backways down an embankment and through a wall, writing off my car in the process.

Unfortunately I was underinsured (had a value of €3,000 on the vehicle, where the replacement cost £4,000 + import + VRT), but at least with the fully comp I got €2,850 after the excess.

With 3rd party I would have gotten nothing.

Hope this helps.

The exception does not prove the rule, two examples....

1. Person drives into a river, manages to get out only because they weren't wearing a seat belt. Moral: it's safer to drive without wearing your seat belt.

2. Yesterday a man in the UK who only goes to the races twice a year went to the races in Exeter, he placed a £2 bet on an accumulator and won £1.45 million. Moral: give up your job and become a professional gambler.

coylemj

celticbest wrote: »

I'm with 123.ie and they do cover personal injury.

If you think €5,000 represents 'cover' for personal injury you'll never get a job advertising L'Oreal products!

Medical expenses 'up to €250', do you seriously call that coverage?

celticbest

coylemj wrote: »

If you think €5,000 represents 'cover' for personal injury you'll never get a job advertising L'Oreal products!

is it more than the €0 you get Third Party For €170 extra a year or .46c a day I think it worth having.....

osiri

osiri wrote: »

Insurance companies are in the business of making money. They wouldn't offer you a product where your expected gain would be positive. So unless you know something they don't (i.e that you are definately going to crash in the next year) you'd be better off getting the minimum legally required cover.
Unless of course as some other posters have mentioned you want the "peace of mind" or if financially you wouldn't be able to afford a new car without fully comp.

Personally I think the NCB protection and some similar add ons are a gimmick. But roadside assist and the ability to drive other cars is a real benefit.

If you cant afford to replace your own car in the event of a crash then fully comp is worth it, which represents the majority of drivers bar those driving cars worth very little. Even if you could most people would rather claim and pay an increased premium over a few years than fork out a load of cash in one go for a replacement.

I dont see why you think no claims protection is a gimmick tbh. I think its a fantastic addition. I opted for the step back protection on my insurance for damn all extra (20 euroish per year) and it means if I crash I can claim but keep the majority of my no claims bonus.

Roadside assist depends, I was living in London for a short time and would not feel comfortable without it. But living here any number of family members and a rope are never that far away.

I have had fully comp for a few years now and I have built up quite a good level of cover, for instance I will soon have fully comp driving of other cars which is a fantastic addition, so no way would I reduce to 3rd party for the sake of a few quid each month.

johnnybv

My door glass got smashed. Didn't have it covered. The charge was about €150.
I got one from a scrapyard and replace it myself. I renew this year comprehensive. It's not worth the hassle for third party.