Insurance Help (mid - policy)

[ENZO]

Hi,
i need a bit of advice..

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my current insurance policy running....
golf mk4 1.4
premium: £1270 - currently paying monthly - until dec 2013
third party fire and theft
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now im wanting to purchase this car:
audi a3 2.0t fsi s line quattro
value: £8000
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so i have to switch my policy to comprehensive as its over 5k, but they are wanting an extra £1400 off me - ridiculous
if i list it as value £5000 and carry on TPFT they only want £200 off me. (is this ok to do until my current policy ends in 6 months? )

i can get the premium for audi a3 elsewhere for a total of £1200 now, but i dont want to end my current policy as im only half way through it - would have to pay it off + extra changes

so any advice here appreciated, sorry if this is confusing lol

 

[ENZO]

main point is, i would be willing to keep on TPFT and pay the extra £200 (listing car value as £5k)
but im unsure if this would make my policy void as its the wrong value, how would this effect my policy.

thanks

 

[Chillout]

main point is, i would be willing to keep on TPFT and pay the extra £200 (listing car value as £5k)
but im unsure if this would make my policy void as its the wrong value, how would this effect my policy.

thanks

Go on a comparison site enter your details chances are your current company will be cheaper online then phone them up ask them to match it if they can't ask what the cancelation fee is ,I bought a new policy online with the same company when I went from a passat high line to a 3.2 a3 when I called to cancel it as might details were identical apart from the car they waived the cancelation fee.

 

[ENZO]

Go on a comparison site enter your details chances are your current company will be cheaper online then phone them up ask them to match it if they can't ask what the cancelation fee is ,I bought a new policy online with the same company when I went from a passat high line to a 3.2 a3 when I called to cancel it as might details were identical apart from the car they waived the cancelation fee.

thanks for the reply, ive tried that and my didnt even get a price for my current insurer.
but i currently have half of my premium to pay still monthly, i would rather stay with these to the end of the year then switch.

Is it ok to list my car at a lower value than what it is? So i can stay on third party/fire + theft for rest of year. After all, i could have bought the car used for £5000

 

[max69vk]

Just cut your losses & change insurance.

Think about how much you'll lose by swapping insurance companies compared to how much you'll lose if you undervalue the car & it gets nicked or written off.

No brainer in my book!

 

[ENZO]

Just cut your losses & change insurance.

Think about how much you'll lose by swapping insurance companies compared to how much you'll lose if you undervalue the car & it gets nicked or written off.

No brainer in my book!

easy to say if you dont pay much insurance, but these are cheapest quotes i get:

and all these have pretty bad reviews

 

[max69vk]

If you cancel you'll either get a refund or a certain amount refunded to you, either way the new insurance cost will half what you stand to lose if you don't insure it properly.

Contact Arian Flux & mention this forum & you should get an additional discount or at least some preferential quoting.

 

[ENZO]

If you cancel you'll either get a refund or a certain amount refunded to you, either way the new insurance cost will half what you stand to lose if you don't insure it properly.

Contact Arian Flux & mention this forum & you should get an additional discount or at least some preferential quoting.

thanks for the advice mate and ye i would prefer to not lie about anything to save a bit of money.

 

[ENZO]

any more opinions / advice on this?

would really prefer to stay with same insurer as im half way through policy.
But £1470 on top of the £110 a month i pay is ridicilous.

Im with ecar

 

[sliced]

any more opinions / advice on this?

would really prefer to stay with same insurer as im half way through policy.
But £1470 on top of the £110 a month i pay is ridicilous.

Im with ecar

Well your options are
-Don't buy the A3
-Buy the A3, Insure it as TPFT for 6 months, then switch company
-Buy the A3,Cancel mid policy, Lose half a years NCB and insure with a different company
-Buy the A3, pay the extra £1400 to stay with the same company

Looking at the first option of not buying the car, this would cost you 0, but it looks like you really do want an A3. Could perhaps look at 2.0 TDI's and get a quote on them.

Looking at the second option, jumping from 70bhp to 200bhp, and insured as TPFT only @ 5k. Increase in power you may not be used to, potentially increased risk of an accident.If you crash you'll have to pay for your own repairs. you'd be at loss of 3k should your car get stolen as insurance would only pay upto 5k.

Looking at the third Option, buy the A3, cancelling policy Midterm you would get £600 back, and would only need to add an extra £600 ontop to insure fully comp for a whole year. ( Assuming what you said was £1,200 for a year of fully comp for the A3 elsewhere).

The fourth option of paying an extra £1500 for 6 months insurance with the same company for the A3, when you could get a year for less then that seems a bit daft, unless you have some incentive to be loyal with this company. This means you'd be paying approx £1900 for the last 6 months, when that could get you over a year and half on the 1.2k policy elsewhere. (approx 3X more expensive)



I personally would go with option 3, change insurance company if it only costs £1200 to be fully comp on the A3 2.0T. But this is all on the assumption you're a young driver.

 

[Sam 'Wingnut' Jordan]

i would just end your current policy and start a new one. thats what i had to do which resulted in me paying £1200 for four months insurance on my old car and £3k for my audi a3

 

[cazza1729]

How about just wait 6 months til the insurance ends? Is the car you're buying trade or private dealer?

Cars come and go, the model that may be 'perfect' now for you will come up on the market again, and it gives you time to save for your insurance as well. Always pay the lump sum as the per month method is a joke! My insurance as a lump sum is £650 compared to £1,100 over 12 months.

Jts not the answer you're looking for but you can wait to buy the car, I had to wait six years until I could afford my 'dream car' of an A3 3.2ltr, which turned out to be fun to drive but a nightmare to live with! Now I'm on a 2.0 diesel, a very different beast.

 

[ENZO]

@Sliced
third option seems my best, though i didnt think i would get any money back.

Reason i cant wait till policy ends:
my current car tax/mot are due end of june. It wont pass mot and isnt worth getting repaired.

 

[sliced]

@Sliced
third option seems my best, though i didnt think i would get any money back.

Reason i cant wait till policy ends:
my current car tax/mot are due end of june. It wont pass mot and isnt worth getting repaired.

Just re-read your first post and it says your paying monthly. You won't get any refund, but you should be able to end it early and incur a cancellation fee

 

[ENZO]

Just re-read your first post and it says your paying monthly. You won't get any refund, but you should be able to end it early and incur a cancellation fee

ye so i would be paying £1200+ for switching + this years ncb
thts why i thought it would be best to stay with these.

 

[JohnE]

RE: values - most policies will pay the value you estimate or what they think it (was) worth at the time of loss - whichever is lower, so in the event of the car getting stolen and/or burnt out, the maximum you'd see would be 5K. I can see the attraction of TPFT - I used to do that when I was younger too - but I was running £200 bangers then.

 

[andykn]

When I was insured through Admiral they wouldn't quote if I went onto Confused.com at renewal time. Try with a different name and next door's address.