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THE Insurance Thread


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#1 Jimmyarm

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Posted 28 March 2007 - 04:55 PM

Ok, so there are a few posts that come up every now and then about Insurance and where can I get it cheap etc etc.

Hopefully if you are reading this then you have used the 'search' function and have just found your answer !

Some basics;

You have to have a minimum of what is called RTA (Road Traffic Act) cover in order to drive a motorised vehicle that is registered for road use on the public highway.

All insurance policy's available will have this cover included, apart from one. The different types (covers given) of Policy are;

Third Party only - Essentially only gives RTA cover, may have a few frilly bits attached. This type of Policy will only pay for damage/injury caused to Third Parties. If you have this cover and crash your car into a tree/another car etc then you dont get any money to fix your car.

Third Party, Fire & Theft - Basically the same as the above, but includes the 'perils' of Fire & Theft. I.e. if your car is stolen, a payment will be made under the Policy, the same if it catches on fire.

Comprehensive - Both of the above, plus it will payout for damage caused to your car in the event of you crashing it in an accident.

Laid Up cover - Not something you see often but this is basically for cars that are 'laid up' i.e. not being used on the road for a long period. These Policys' usually only give Fire & Theft cover on the vehicle, although some insurers may offer wider covers. THIS POLICY DOES NOT HAVE RTA COVER INCLUDED SO YOU CANNOT DRIVE YOUR CAR ON THE ROAD.


Ok so thats the type of covers sorted, theoretically TP only cover is the cheapest (apart from laid up cover but we will ignore that for now) and Comprehensive the most expensive. Sometimes you will find TPF&T cover works out cheaper than TP only cover, dont ask me why, I underwrite commercial insurance !

Now we will move on to where to get a quote from, this list is not by any means exhaustive, typing 'mini insurance' into Google will bring up about 7 million results. My insurance is due for renewal soon so its just the ones I have used;

Confused.Com
Elephant
Performance Direct
Adrian Flux
Footman James

If you car hasn't had any modifications made to it then I would recommend the first two, particularly Confused.com. It searches a LOT of companies for you to get the best quotes and has saved me a lot of time in the past ringing around different companies. This year it has saved me £100 on my renewal premium.

Talking of modifications, if you have made any to your car (i.e. Alloy wheels, Stg 1 Kit) etc you MUST declare this when you are getting a quotation. If you are phoning companies I would recommend you say that its modified straight away to check that they are able to accomodate them, it saves you a lot of time going through all your details only to be told that they cant quote !

So, now you know a few places to look and what the basic cover types available are you dont need to post asking where can I get the cheapest Insurance. If you do, Jammy will make you chew on his special sock :D

:P


Jammy, when I get another 10 minutes I will format it a bit and possibly add some more explanations once I have checked what questions people have asked in the past, it may also be appropriate to move it to a different section ? :D

Edited by Jimmyarm, 28 March 2007 - 05:10 PM.


#2 Jimmyarm

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Posted 19 April 2007 - 02:53 PM

Anyone notice how there havent been any Insurance threads since I posted this (touch wood) :withstupid:

#3 biggav

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Posted 19 April 2007 - 03:07 PM

Anyone notice how there havent been any Insurance threads since I posted this (touch wood) :withstupid:


i was just about to post one... but only to gloat, hi performance who i was paying £180 per year too said that they wouldn't cover me if i fitted nitrous... so i cancelled with them, got a policy with Adrian Flux with the following;

All declared modifications covered on a llike for like basis,,, i declared all of them!!!
Fully comp
legal cover
Homestart, roadside, onward travel cover
courtesy car
full legal cover
Agreed value of £10K
Any Future Modifications (there's not much more i could do to it)

£450

#4 Racer_Pete

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Posted 19 April 2007 - 03:10 PM

i check'd out how much mine would be it will cost me £2300 fully comp for a standard 998 when im 17 :withstupid:!

#5 Jimmyarm

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Posted 19 April 2007 - 03:13 PM

i check'd out how much mine would be it will cost me £2300 fully comp for a standard 998 when im 17 :withstupid:!


to be honest, at that age your better off going for TPF&T and driving carefully :rolleyes:

That price is quite excessive by the way, you should be able to get something around the £1k mark, have a looksy on Confused.com

#6 biggav

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Posted 19 April 2007 - 03:16 PM

Anyone notice how there havent been any Insurance threads since I posted this (touch wood) :rolleyes:



:withstupid:

Can of worms!!!!!!!!

#7 Jammy

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Posted 19 April 2007 - 03:32 PM

Should this be somewhere else, like FAQ (although if I moved it in there no one would read it!) or has a copy already been moved in there?

#8 Mini Man Dan

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Posted 19 April 2007 - 03:34 PM

i check'd out how much mine would be it will cost me £2300 fully comp for a standard 998 when im 17 :withstupid:!

I have got a quote with footman james on a 998cc mini hl with alloys and stage one kit declared on a tpft policy £735 i know i wont earn a no claims bonus with this but i cant afford the other companies prices!

#9 Jimmyarm

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Posted 19 April 2007 - 03:40 PM

Should this be somewhere else, like FAQ (although if I moved it in there no one would read it!) or has a copy already been moved in there?


Your right no one would read it there :withstupid: Why not just leave it in here or move it to Mini Chat and then when someone posts a new thread just merge it in ?

I have got a quote with footman james on a 998cc mini hl with alloys and stage one kit declared on a tpft policy £735 i know i wont earn a no claims bonus with this but i cant afford the other companies prices!


Worth noting that Foot 'n' Mouth James will issue you a letter saying you havent had any claims for the period you where on cover with them which 'most' insurers will accept in lou (sp?) of proof of no claims bonus.

#10 Dog

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Posted 19 April 2007 - 04:56 PM

You forgot HIC - Miniworld insurance...

#11 nev_payne

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Posted 29 June 2007 - 07:47 PM

Confused.com knocked a staggering £500 of my insurance for the forthcoming year - well chuffed!!! :P Switched from NFU to Norwich union - on top of fully comp, have also got pysiotherapy, courtesy car, legal and windscreen cover. Thats with noted accident and 1 speeding conviction. Top dogging! ;D

Edited by nev_payne, 29 June 2007 - 07:47 PM.


#12 taffy1967

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Posted 30 June 2007 - 12:01 AM

I recently phoned Mini Magazine Insurance and took out a policy via them, so I'm covered with Performance Direct/Equity Redstar.

So it cost £137.65 for fully comprehensive, agreed value with salvage retention and all modifications and my misses 3 points declared.

Okay that's on a limited (1500) milage plan, but if I find I'll be using the car more then I'll just change that next time.

I could also have their breakdown plan too which cost £27.50 a year and covers me for everything except home-start.


The only thing I forgot to mention was the fact I have 165/60x12 tyres instead of the old 145's, so should I notify them anyway?

#13 Jimmyarm

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Posted 30 June 2007 - 07:43 AM

Okay that's on a limited (1500) milage plan, but if I find I'll be using the car more then I'll just change that next time.


If you find you are going to go over this during the year, phone them and give them a revised estimate. It is possible for them to decline a claim if you crash and they see that you have done more than the amount you declared

The only thing I forgot to mention was the fact I have 165/60x12 tyres instead of the old 145's, so should I notify them anyway?


Nah, its not really classed as a material fact to be honest.

#14 taffy1967

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Posted 03 July 2007 - 12:12 AM

Okay that's on a limited (1500) milage plan, but if I find I'll be using the car more then I'll just change that next time.


If you find you are going to go over this during the year, phone them and give them a revised estimate. It is possible for them to decline a claim if you crash and they see that you have done more than the amount you declared

The only thing I forgot to mention was the fact I have 165/60x12 tyres instead of the old 145's, so should I notify them anyway?


Nah, its not really classed as a material fact to be honest.


Okay thanks and I'll keep an eye on the mileage too.

#15 sheree&the-gt

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Posted 05 July 2007 - 04:20 PM

Should this be somewhere else, like FAQ (although if I moved it in there no one would read it!) or has a copy already been moved in there?



hiii. im only 17 and need insurance on a modified car.

any ideas where to get it from??
probably wont be driving until im 18 so any ideas??

xx




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