Fully comp: worth it for 00 Fiesta?

Grolschevik

Tis renewal time again. I've always gone for fully comp before, but I was just wondering whether it'd be worth it now for an 11-year-old Fiesta (Ghia, 86k)?

I'm assuming that any major damage would cost as much/more than the car is now worth. Premium quoted this year for fully comp and some extra add-ons is €320. Would it be worth just going for TPFT?

Thanks!

El Guapo!

Whats the price difference between Third party and Fully comp?

Vicxas

Rule ofthumb is if you can afford fully comp, go for it... well for me anyway

unkel

Dean09 wrote: »

Whats the price difference between Third party and Fully comp?

+1

That's the question here. Chances are that your premium wouldn't go down much for only TPFT or 3rd party only, maybe as little as €30 or €40. In that case it's well worth keeping your comprehensive cover...

Grolschevik - I like your username

Topper Harley

Aren't you restricted to driving only your own car when you're not fully comp? It seems worth the extra little bit for the convenience of being able to drive another car if necessary.

I've had 3rd party extension for the last 6 or 7 years on 3rd party policies For me fully comp is the guts of €200, not worth it when you drive a cheap car that's replaceable for €2000 ish imo.

The Pontiac

Topper Harley wrote: »

Aren't you restricted to driving only your own car when you're not fully comp?

No, definitely not.

Topper Harley

RoverJames wrote: »

I've had 3rd party extension for the last 6 or 7 years on 3rd party policies For me fully comp is the guts of €200, not worth it when you drive a cheap car that's replaceable for €2000 ish imo.

<Ollie> wrote: »

No, definitely not.

Hmm, I'll keep this in mind. I only ever had a third party policy once and it didn't allow me to drive any other cars. Since then, with fully comp policies I have been able to so I erroneously made the the connection.

coylemj

Vicxas wrote: »

Rule ofthumb is if you can afford fully comp, go for it... well for me anyway

Others would say that if you can afford to replace the car if you wrap it around a lamppost then you should not buy fully comp.

At the end of the day it's a gamble, you have to judge the risk alongside the cost.

slimjimmc

RoverJames wrote: »

I've had 3rd party extension for the last 6 or 7 years on 3rd party policies For me fully comp is the guts of €200, not worth it when you drive a cheap car that's replaceable for €2000 ish imo.

Another view...

With TP if you crash next week, you're down €2000 and have to pay for the replacement car entirely out of your own reserves, if you have it.

With Comp if you crash next week, you're down the policy excess (€200?). Knock off a few €100 as difference between trade value and retail price and you're still €1000-€1500 up. You'll probably have a slightly higher premium for the next few years depending on NCB but you won't be forking out €2000 of your own money for the replacement car.

True, but I'm 12 years driving, 11 of which on own insurance (one year in a company car). By now I reckon I have saved between €3000 and €4000 by never getting comp cover Now if I had paid comp for the last decade I would be slow to stop doing so

I'll get comp if I buy a yoke for €5000+.

slimjimmc

RoverJames wrote: »

True, but I'm 12 years driving, 11 of which on own insurance (one year in a company car). By now I reckon I have saved between €3000 and €4000 by never getting comp cover Now if I had paid comp for the last decade I would be slow to stop doing so

I'll get comp if I buy a yoke for €5000+.

I absolutely agree but insurance by it's nature is for unplanned eventualities. When you took out those policies over the past 11 years you had no idea if you'd ever need to call on them. You took a gamble that you wouldn't need to replace a wrecked car, but you could afford it if you did or do without.
However if you can't afford to replace your car you might be very glad that the Comp insurance payout would help get you back on the road.

Same choice with any insurance, you have to weigh the cost of getting it with the cost of not getting it.

Most definitely
I never take the extra insurance off rental crowds either, I take my chances with the risk of the £500 excess

Health Insurance I have though :pac:

mann

A couple of years ago my mate had his newesh 4x4 stolen and when they eventually found it the scum had burned it out. The insurance sorted him for all the camera gear that was in the Jeep when stolen - when he got another jeep they didn’t want to give him full comp cover,

He said to me that if he went for the “third party” and had a bad smash that done bad damage to himself and who ever was with him he wouldn’t get a penny towards the hospital bill for himself because only the passengers would be covered under the “third party police”

Is this true ?

mann

mann wrote: »

Is this true ?

Yep

Actually it's not, get admitted to hospital in an ambulance and it's free, that's what PRSI is for.

mann

RoverJames wrote: »

Yep

Actually it's not, get admitted to hospital in an ambulance and it's free, that's what PRSI is for.

Ya but I would want a private room away from all them sick people that hang around hospitals so I think I will stay fully comp and upgrade my private health insurance just in case ,

Grolschevik

Dean09 wrote: »

Whats the price difference between Third party and Fully comp?

Would you believe I haven't even checked yet? I sort of assumed I'd be getting unequivocal responses along the lines of "it's not worth it"...

unkel wrote: »

+1
That's the question here. Chances are that your premium wouldn't go down much for only TPFT or 3rd party only, maybe as little as €30 or €40. In that case it's well worth keeping your comprehensive cover...

I suspect you're right that there won't be that much difference...

unkel wrote: »

+1
Grolschevik - I like your username

Thanks!

slimjimmc wrote: »

Another view...
With TP if you crash next week, you're down €2000 and have to pay for the replacement car entirely out of your own reserves, if you have it.

With Comp if you crash next week, you're down the policy excess (€200?). Knock off a few €100 as difference between trade value and retail price and you're still €1000-€1500 up. You'll probably have a slightly higher premium for the next few years depending on NCB but you won't be forking out €2000 of your own money for the replacement car.

There is that...