I have an M reg Corsa (1994, I think), and my insurance is due for renewal at the end of the week.
I am currently only insured 3rd party, fire & theft, but I have had a few quotes, and can insure it fully comprehensive for only £18 extra for the year. If I choose to stay with just 3rd party, fire and theft, my premiums will drop and I can save £120 over the course of the year. The value of the car is around £500. I am under 25, so if I insure it fully comp, many insurers will still not allow me to drive any other vehicle 3rd party.
I am a student as well, so not on a high income. What option do you think would be best for me? I am a relatively good driver. I've had 2 minor bumps, but have been driving for 5 years.
2007-02-26 01:33:12 · 7 answers · asked by ♥Miss Inquisitive♥ 5 in Cars & Transportation ➔ Insurance & Registration
the quote I received was based on paying £150 excess
2007-02-26 05:20:56 · update #1
Fully comp for £18 more - just do it!
xx
2007-02-26 05:14:07 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well, the car isn't worth that much but you need to consider the 'self insure' option. That means if you stick with 3rd party, fire and theft, and you write the car off (cannot be repaired) can you afford to buy a new car for similar value out of your own money? If the answer is no, then get fully comp, then if you write it off you get the money back for the what the car was worth from the insurance company to put towards a new one.
A good example of 'self insure' is for a mobile phone. Insurance for a mobile is £12 a month. I chose not pay it and save £144 pounds a year. But I drop it in my pint and ruin it, I can spend up to the £144 I saved to buy a new one!
Good luck and be sure to shop around for car insurance!
2007-02-26 01:42:15 · answer #2 · answered by rock n roll maiden 1 · 1⤊ 0⤋
you will probably have a high excess, at least £250, this means that you stand the first major part of any claim yourself.
The car is not worth very much. One accident damaging the wing for example will mean that the car will be written off. the insurance company will not pay for the car to be repaired, you will get the market value of an M reg Corsa
Cars of this value are usually not insured on a comp basis
2007-02-26 01:45:43 · answer #3 · answered by Nimbus 5 · 1⤊ 0⤋
Im 22, and I've got 3rd party, fire and theft. I'm going to upgrade to fully comp when I've got 4 years no claims bonus! Two more years to go. I recommend Churchill! I'm a student too, and not very accident-prone....so no need.
2007-02-26 01:41:39 · answer #4 · answered by Suzie's_Secret_Society 3 · 0⤊ 0⤋
With the value of the car that low, you are basically driving a "throw away" anyway. Just cover any damage you might do to someone else and save as much as you can. Just try and keep it going as cheaply as possible until you are finally out of school and working full time, then you can upgrade.
2007-02-26 01:48:29 · answer #5 · answered by oklatom 7 · 1⤊ 0⤋
Generally speaking with a car of that value you would be well advised to stay on third party f +t , drive carefully,and take your no claims,if you can establish them ,and then go for comprehensive when you can afford a more expensive motor
2007-02-26 01:45:38 · answer #6 · answered by budgie 1 · 1⤊ 0⤋
their used to be insurance called road traffic only, very cheap
but if your car was stolen or fired you got nowt.but it covered you if you had a crash!
2007-02-26 02:42:22 · answer #7 · answered by peter p 5 · 0⤊ 2⤋