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Insurance query - moving to new car

  • 17-06-2019 3:55pm
    #1
    stratosDev
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi guys,

    Anyone have experience switching insurance from a newer car to an older car?

    Background: 27 yr old, 7 years full licence + no claims

    Old car: 2013 Merc C250 204BHP valued at 16k - Insured at 1,300 for the year. 5 months into policy
    New car: 2009 Audi A4 168BHP valued at 6k

    Insurance(will not name) said they wouldn't reduce my monthly premium and couldn't find me a better price for cover, which I think is ridiculous.

    Got quoted 650 on Liberty for fully comp.

    Any advice? Cheers


Comments

  • #2
    antodeco
    Registered Users, Subscribers, Registered Users 2 Posts: 13,631 ✭✭✭✭antodeco


    Welcome to the world of insurance. Typically the older the car, the higher the premium. Based on this, it may not actually be a bad deal getting it for the same price!


  • #3
    Mickb
    Registered Users, Registered Users 2 Posts: 283 ✭✭Mickb


    Hi,

    Can you not cancel the current policy, but check that you can get a refund on unused portion of the policy. (It will be less an admin charge.)

    Then take out a new policy on the new (older) car.

    I had to do this recently, when changing to a newer car.

    MiCk B. :-)


  • #4
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,633 ✭✭✭✭Marcusm


    stratosDev wrote: »
    Hi guys,

    Anyone have experience switching insurance from a newer car to an older car?

    Background: 27 yr old, 7 years full licence + no claims

    Old car: 2013 Merc C250 204BHP valued at 16k - Insured at 1,300 for the year. 5 months into policy
    New car: 2009 Audi A4 168BHP valued at 6k

    Insurance(will not name) said they wouldn't reduce my monthly premium and couldn't find me a better price for cover, which I think is ridiculous.

    Got quoted 650 on Liberty for fully comp.

    Any advice? Cheers

    The value of the car is only a small component of the premium. Claims generally relate to the value of the damage you might cause rather than the value of your car. Older cars have fewer safety features so can often carry higher loadings.


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