some1 tell me this is for real!

[bandwidthbandit]

okay fellas, i\'d really appreciate a thumbs up from some of you more experienced guys out there ...

I just called my current car insurance company who are insuring me on my Honda because i wanted to know what happens with my current policy when I get my new Rx.  Still got 11months left!

The guy said "tell us the details about your new car and we\'ll see what the difference in your premium will be".  I was planning on following the contacts on this forum and getting insurance via Aon/Tesco/Elephant...

Well i answered all his questions and he said it will be an extra £381.75 (on top of £479.03) making a total of £860.78.

Bear in mind that i\'m 25 and have 0 NCB.  No accidents/claims/points since I started driving (i\'ve been an additional driver on my mum\'s policy uptil recently).  I don\' t think that\'s a bad quote, is it?  

What concerns me though is the fact that the guy never asked about the fact that the car is an import.  Also, he only let me tell him 3 modifications when there are a few more.  He also seemed to think that getting an immobliser would increase my premium??! so this quote includes no demands on getting additional security.

I\'d really really appreciate comments on this!  I was expecting to pay roughly double.

Many thanks,
Bandit

[Eddie]

I would double check this, it seems to good to be true.

No imobiliser as this would increase your premium? thats a new one on me.
Make sure they know which model it is? they may think its one of the earlier models.

Is it garaged?

Make sure you tell them about all your modifications or your insurance may not pay out in the event of an accident.

Always tell them its an import, this does effect the way some companies deal with your quote.

Just to gage

I am 31
Driving instructor
11 years NCB
Clean liscence
Cars garaged and the best I could do without classic insurance was about 800, with one of the companies suggested on the group.

I can not tell you enough, make sure they know what they are insuring and declare everything mate..

Then again if this is for real you may make a lot of RX owners very happy adn I would snatch that quote if they know what they are insuring:)


What is the company? get the number on the group, I think I will give thema call:)

[bandwidthbandit]

i was a bit afraid to say at first because i didn\'t want the company finding my post and reading the bit about me expecitng to pay double! ...  call it paranoia.

Bell Direct 0800 140 180  (have just found a card that says 10% off if you quote RECOM and pay via credit card)

you are probably right about declaring everything but .. in the event that i do make a claim (god forbid) how would they know that the car is an import?  I don\'t want to scam anyone - i\'m just curious really.

[Eddie]

Bell direct, I have heard of them before.

Its the vin number which gives it away, one simple check and they can tell, I a sur e this is the case, we haev differn\'t vin number for UK cars, longer numbers I believe, I am sure someone who knows for sure can clarify this.

Depends on your mods Okay a ECU may not be trackable by the insurance, you may not even know you have upgraded ECU. btu other more obvious things and they may find out.

BUt anything they can pick up on to not pay you and they will:)

If they can get away without paying then as I am sure you know they will try.

I am going to give them  call adn see what they say for me, I will let you know.

CHeers

[RobbieRX-7]

bell direct..they was the ONLY insurance company that would give me a decent quote!..mind you i have got a dr10 on my licence and am only 24..they quoted me £2000 tpft!!!:(

that was for a 92 fd type r1 jap import..totally standard except turbo timer. weird thing is that they was not interested in my thatcham certificate, even though i spent £300 in getting the alarm fitted.

as you can guess i did not complete the policy as there is nooo way im paying 2k third party..


mind you though..they seem a decent insurance company.

[bandwidthbandit]

i\'ve got this horrid feeling that i\'ll call Bell Direct back, i\'ll mention that the car is an import and then they\'ll want to slap an extra £1k on the premium.

Does anybody know what happens if I sell the Honda and take out a separte policy for the Rx with a different company.  Am i entitled to a refund for the months I haven\'t used on the honda policy or does this vary between different insurance companies?

[RobbieRX-7]

if you do sell the honda, you will be entitled to a refund for unused months of driving the car, but that means you will have to cancel the policy,which then means you will lose your no claims bonus for that year..(not a good thing)

also you will find that insurance companys will not transfer no claims bonuses from one policy to another,especially if a policy is allready in place..basically if you have a car with 2years ncb and you have 6months left on the policy, you cant transfer the ncb onto your new car untill you have cancelled the first policy..bummer:(

its just another way of ****ing us off..they do a good enough job at that as it is!!

[johnf]

Insurance - as I understand it.

You should pay on day 1 for the full premium and that insures you for the year you have paid for.

If they let you pay in installments you will still be liable to pay the full premium regardless of any accident etc. So if you prang it after only paying one installment you would still owe the rest.

After all your\'e not insuring it month by month as long as nothing happens.

If you cancell the policy you would expect some discount, however taking into account their paperwork etc I wouldn\'t expect it to be pro-rata.

I may be corrected but thats how I see it.

As for your quote - seems too cheap to me.

Good luck

John

[jinx]

I think you are right John but isn\'t that installment plan option effective for insurers - particularly with ever increasing premiums.  

If you cancel a pre-paid policy you do receive a refund (minus admin costs). This must mean the risk was calculated across time.  Logically should this not mean an installment plan ought to represent month by month cover?

[Oedipus Rex]

Originally posted by johnf
Insurance - as I understand it.

You should pay on day 1 for the full premium and that insures you for the year you have paid for.

If they let you pay in installments you will still be liable to pay the full premium regardless of any accident etc. So if you prang it after only paying one installment you would still owe the rest.

After all your\'e not insuring it month by month as long as nothing happens.

If you cancell the policy you would expect some discount, however taking into account their paperwork etc I wouldn\'t expect it to be pro-rata.

I may be corrected but thats how I see it.

As for your quote - seems too cheap to me.

Good luck

John

You\'d be surprised how many will charge you pro rata now. Seems to be standard. If you cancel your policy after 4 months, then you are not on cover for the next 8 so why should you pay.

AON and Houghtons both offered me a ro rata if I cancelled on a monthly payment plan. Also offered me a rebate of whatever if I cancelled on a 100% upfront payment,

[johnf]

You\'d be surprised how many will charge you pro rata now. Seems to be standard. If you cancel your policy after 4 months, then you are not on cover for the next 8 so why should you pay.

Because you took out a 12 month agreement not 4

I\'m not defending insurance companies, I hate them as much as the next guy BUT

If you want to terminate the policy I would imagine it\'s up to them, after all you do a deal to pay a set amount for a years cover if you change your mind it aint their fault.

Lets say you take out your insurance on Jan 1 and its £1000
You should pay £100 there and then and they insure you for a year - job done.

If you then write your car off on Jan 2 they would pay you out. you have paid your insurance in full and will get paid out.

If you take the option of paying monthly and write your car off on Jan 2 you will still have to pay the monthly installments as agreed to meet the insurance cover you purchased.

Just because you chose a different payment method doesn\'t mean you don\'t owe it.


John

[Cycaduk]

Hi, my 2ps worth.

If you write off your car, they ought to be paying out for a replacement, so you still have the rest of the years insurance to run.

If you give up your car, and cancel the insurance, then their risk is reduced by the time left on the policy. its worth checking the policy documents to see what happens. with the classic car policy that I have, they state up front that there is no refund if I cancel, but this is the only policy I have had where that happens