Car insurance HELP!!

[FakeGold]

Hi all,

Need advice on car insurance.

Due to being bloody poverty, I can't afford fully comp on my car.

Third party only is what I'm thinking, as it's a lot cheaper. Thing is I've always been fully comp so have no clue at all about third party only.

So I thought I would ask Mumsnet

If my car gets nicked do I lose my NCB? Or would it not touch it because the cover does not cover it. It seems like a gray area because surely I still have to inform them it's been nicked but no claim would be made so idk 🤷

Also what happens to my car in a crash, with no cover does it just get binned or do I have to scrap it myself. How does that one work?

Yes I know I'm bloody clueless

Dunno but I went for 3rd party last year as it was cheaper.

And the same as every other year....nothing happened.

3rd party is often only about £10 or so cheaper than fully comp as they dont want you to take 3rd party

Third party only is literally the bare minimum legal requirements drive on the road and provides only cover for your third party liability should you damage another vehicle / property or injure a person.

It will not provide any cover for your car whatsoever should it be damaged by accident, fire or theft.

In the event of an accident you will be responsible for repairing / scrapping.

As far as I remember you don’t earn / use a no claims bonus on a TPO vehicle - check this carefully as it will expire after 2 years of non use and you will be back to square one should you reinsure. Again, could be wrong here, it’s been a while since I’ve worked in this field!

Would third party, fire & theft be affordable? It would allow a little more protection.

In a lot of cases third party now works out more expensive.

How much would you be saving?

In a lot of cases third party now works out more expensive.

Was coming to say this.

www.moneysavingexpert.com/insurance/car-insurance/car-insurance/?utm_expid=.Saz5u923SQOnD02NvfqgwA.1&utm_referrer=https%3A%2F%2Fwww.moneysavingexpert.com%2Fmotor-insurance%2F#thirdparty

Thanks all for the replies.

@Bookoo I never knew my NCB would not count with a third party only cover. It did ask me how many NCB I had but I will admit that I have not read any t&c yet. I will before buying of course. I never looked at third party, fire and theft so don't know the cost to me. ... I don't know how I feel about losing a years NCB (for this year going forward) but if at the same time they can't touch my already earned NCB even if I crash then I guess it's fair.

@potter Fully comp is 3300. TPO is 1300. That's both rounded off, I can't remember the exact figures. So around 2k saving.

My old car was cheaper to cover. This one is a old Toyota and for some reason is more expensive. It is what it is for now but think I will look for a cheaper car to insure later in the year.

£3000 for fully comp? Are you in an exceptionally high risk group?

I live in a high risk area or so I'm told

My old car was 700 fully comp. It's my own fault in a way because I just went and picked a cheap car up, did not even think about the insurance rocketing.

I'm not feeling upset or anything about it tho. Just I have never had TPO cover before so wanted to know the two things I asked above as Google seemed to just give me the same crap about TPO but not answer what I wanted to know iyswim? For example I did not even know NCB was not earned or used for TPO. Thanks again @BooKoo

Add your parent to it , as named driver.
That will bring it down.
It does not effect them at all.

Do not do as mummy2017 said, that's illegal. However you can add them as an additional driver and that might bring it down slightly.

Named driver is the same as additional driver. It is only illegal if you get the policy in their name and say they will be doing most of the driving

What’s your car worth OP? If you’re willing to go TPO consider comprehensive with the maximum accidental damage excess possible. You’re no worse off in terms of your car if the excess makes it impossible / not worthwhile to claim but you would have better cover & a live no claims bonus.

Usually the voluntary excess only applies to accidental damage and the policy will have compulsory excess for fire / theft, often around £100.

Obviously you've used price comparison? Thay seems extortionate even for a high risk area, especially for an old car! Your insurance shouldn't go up by more than 4 times just because the car is older!

Feel free to do ne the details and I'll have alook....I really don't want to conse across as calling yout silly and saying you must be wrong implying you're stupid, I'm not. But that is ridiculous. What reg plate is the car?

By reg plate I mean year, and what area do you live in roughly?

Can you arrange to pay monthly? That's what my DP has done with Esure, worked out at £30 a month and that's fully comp.

That price seems absolutely bonkers. For comparison, we have a new SUV and we pay £300 a year. Even living in Beirut, that seems extortionate for an older car! Have you used comparison sites? Are you a very young driver in a high performance car? Do you have endorsements on your licence?

Wow what car are you driving and how old are you? My old but high insurance class sports car (also a Toyota), with modifications, didn't cost that much!! Have you phoned insurers to double check there isn't a mistake?! That's a massive rise :(

I had third party fire & theft for my very first car and just accepted I'd have to pay for any damage to my own car myself - but don't think I earned NCB those years.

See if you can find a local insurance broker. Ive used one for years and always get better deals than the comparison sites or ringing places myself.

£3000 for car insurance seems very expensive. I've just passed my test and getting average quotes of around £1200 but have managed to find even cheaper (just been trying out how much I'd be with different cars I've saw for sale). Adding my mum and step dad as named drivers knocks a few hundred off it. I'm unemployed at the moment due to start work in May which will take another couple of hundred off. I think my most expensive quote unemployed and with named drivers was about 1800.

Even Martin Lewis says to add someone who has a clean licence as a named driver.

I did look at putting the voluntary excess up but it said if I needed to make a claim I would have to pay both the voluntary and compulsory excess is that not the case then? If I crash and it's my fault do I only pay the compulsory? If I whack it up to really high and can't pay it, would my cover not be void?

Funny enough with TPO it was showing as no excess?

Gosh, I don't seem to know anything really do I? Guess I take for granted that fully comp just takes care of everything if a crash happens.

Car is a old one from 2000, Toyota can't think of the model name as I'm crap but it's just a 5 door hatch. Nothing fancy. Cost me 250 but comparison site slap it at 700 value. I'm in my 20s been driving 6 years, all with NCB. Clean driver me. Think this is just a lesson to always make sure any car I buy is not bloody expensive to insure.

I have not phoned round but have done the looking at sites thing. I did phone my old insurance and they were the ones to say I was in a high risk area but maybe it was bollocks. Then again all the comparison sites were giving the same out so maybe not.

I looked at paying monthly and the total ended up being more?

I will have to look more in to this when I have time to really sit down and also phone around. However thank you again for the replies, I'm glad I asked. I can lose a years NCB for the cost difference for just one year but I will be flipping my top if I crash and they try to take my already earned NCB away. As that seems unfair, can't earn one but can lose them. Will have to make sure I look and look again at the t&c to make sure I don't lose any in the event of a crash.

I'm not planning to crash btw lol, but sods law and all that. So want to know where I stand.

I had my mum, who lives hours away from me and has never driven/likely will never drive my car, as named driver on my policy till I was in my mid 40s, purely because having her on there reduced my premium. It was only quite recently that stopped. I didn't know whether to be pleased or not!

God, that's absolutely extortionate, I can see why you're considering your options. Have you looked at having insurance with a telematics box? I found that reduced my premium quite a bit, even moreso in the second year with it, when they could see I wasn't a boy racer in the car.

Many years ago I was broke and decided to save money by taking out a third party, fire and theft insurance. Two months later I had a blow out on a (fortunately nearly deserted) motorway and wrote the car off. Lesson well and truly learnt. I’d take up a pp’s generous offer if I were you and add a couple of experienced drivers.