Madfish

I hope that £3000 was a typo and you meant £300 !!! If not, I'm gobsmacked!!

jonner

Wow....

Hope it gets sorted....

Rob88

Might not be.
My 17 year old nephew has just got his first insurance.
It's fully comp, but the excess is over a grand, which is more than the car is worth.
But, a fully comp policy with a high excess worked out cheaper than a 3rd party policy

I think a high excess like this is a way for the insurer to avoid paying out on thefts or crashes into walls.
It's not like the boy would want to claim anyway on anything like that as a few years of no claims is worth much more than a claim on a cheap car.

lovegroova

The main reason for high excesses is to reduce the frequency of claims made.

It costs a lot of money to handle claims, in addition to the payouts, so by reducing admin costs, the effect is doubly good for insurers.

Bassoctopus

I'm always amazed at the cries that insurance is more than the value of the car.

Just because you're driving a shitheap, doesn't make it any less likely that you'll hit a Jag/Beemer/Ferrari

In fact, it's probably more likely

And £3000 excess is a way of saying to the sensible that "you're too young to be driving this kind of car sonny!"

Rob88

Quite.
It's just that my nephews example was the first time I've seen the excess as more than the value of the car.

As far as I know the excess is only relevant on claims for your stuff – if you hit something else you don't have to pay the excess to them – iyswim.
It's why 3rd party policies don't have excesses.
(I'm more than happy to be corrected on this if I'm mistaken.)

An excess that large effectively made it a third party policy for him because it was such a cheap car.

lovegroova

Correct, the third party liability element has to be unlimited.

RevRanger

ashdelsol7

no not a typo error. £3000, my jaw hit the floor when my dad told me, the car is an 09 plate with only 16000 miles on it so im guessing the value would be high teens if written off, but still a ridiculous excess. Like i said i am hopeful that when i renew my insurance in june i will be able to find someone who will give me a better insurance deal as i will have 1 years no claim (but 9 years unofficial no claims).

It is going into honda on friday to get sorted, it is not a honda windscreen going back in because that is £330 + vat + fitting, i think it might be this pilkington glass which is working out ot be £197 all fitted, so still a kick in the teeth but better than the £600ish that autoglass wanted, no wonder autowindscreens went into administration. Cheers for the help/advice guys, as always i am more than grateful for all the input. Will let you all know what its like when i get it back

richmc

Might be worth looking at gap insurence, if the car gets written off it pays the differance between what the insurance Co pay out and the cost of the car, not the book value. S2000 get written off regulally for even minor accidents due to the high cost of repairs.Got mine from

http://www.quotamarketing.co.uk/

£250 for 3 years cover.