Car insurance quotes - when did you purchase the car?

I've never realised just how much of a difference the answer to 'When did you purchase the car?' makes to an insurance quote. I know that it made some difference as my Dad has told me before but how much is ridiculous.

Looking at quotes for a friend wanting to buy a car at the moment. If I put that he's just bought the car this month - £3,300 for the year. Say that he bought it in July 2010 - £1,800 for the year.

Anyone know why it's such a big difference? Also, how would they even know when you bought the car? Whenever I've taken out a policy I've had to give copies of my driving licence and NCB etc. but I've never been asked for a copy of the log book, which is the only thing that shows how long you've owned the car.

EDIT BY COMMUNITY TEAM

ALWAYS do a car insurance quote comparison. Check:
www.moneysupermarket.com
confused.com
gocompare.com

Bigger discussion on finding cheap car insurance here

(edited 5 years ago)

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Reply 1

Vanadesse

Anyone got any thoughts on this?

Reply 2

kumori

im going to try this out :] see of mine changes

Reply 3

kumori

purchase date - 07/2012 = £1106
purchase date - 07/2011 = £991
purchase date - 07/2010 = £940
purchase date - 07/2003 = £855

WTF.... i was sure it was going to bring back the same ammount, but no there is actually a big difference

Reply 4

tomrw

I assume it "shows" you've "driven" it for X amount of time so you have "experience" with that car.

I still wouldnt lie the v5c shows when you purchased it and you'd need to produce it in the event of a claim.

Reply 5

JO53PHS

Original post by tomrw

The name in the logbook is not necessarily the legal owner, so really the V5 means sod all. You don't have to be the registered keeper of a car to own and drive it. The car could be registered to Mickey Mouse.. all that means is that he is responsible for taxing it and dealing with your speeding tickets.

Reply 6

tomrw

Original post by JO53PHS

You have to tell the insurance whether you own the car or not.

Reply 7

JO53PHS

But the V5C does not prove if/when you purchased the car.

Reply 8

Vanadesse

Original post by kumori

Haha I love how you had to check because you doubted me... it's ridiculous isn't it? I spoke to my Dad about it last night as he knows all things insurance and car wise and even he didn't know that when you say you bought the car has a big impact on the insurance premium.

Original post by tomrw

It does give an indicator of how long you might have been driving that car for but does that really matter? Maybe if you're going from a 1.0 Kia Picanto to a 3.2 Mitsubishi Shogun then maybe I could understand that maybe it does but otherwise, I can't see how it does. I've owned 3 different cars varying from 1.2-1.6, 3dr and 5dr, tiny car, bigger car, haven't really spotted any difference in driving them, didn't take any time to readjust and I've never had an accident. Thing is, if you're saying you've just bought it and have no NCB and then say you bought it 3 years ago but still have no NCB, that kind of suggests that really you don't have any experience driving it so it's pointless really.

I'm not sure that you do have to produce the V5 certificate if you claim, do you?

Reply 9

JC.

Original post by Vanadesse

I'm not sure that you do have to produce the V5 certificate if you claim, do you?

If the insurance company write off the car you send them the logbook.
The wrecked car becomes their property and the cheque they send you in liu of the car becomes your propperty.

Reply 10

Vanadesse

Well if you write off the car then yes but otherwise, no. That's not quite 'if you claim' that's 'if you write off the car'... if you have a low value car, chances are you won't bother to claim for damage like that to your car anyway because of excess and so chances are you just have third party, fire and theft which doesn't cover your car anyway.

Reply 11

TheGodfather1

this is mental, i tried it. origional quote 1.8k

if i say i bought the car in 2011 it went down to 1.6k

if i put i bought it in 2005 it went to 1.2k

it got me thinking i have to admit,

Reply 12

sarah203

Do not put the wrong date down like i did!! i actually mistakenly put a year difference to when I purchase the car and look what happened...

3 weeks later I get a call from the insurance company saying the details have changed from my previous insurance details from my past provider and they need to see the VO5 document to clarify...as this was an innocent mistake I accepted I had put the wrong year and faxed over the document.

They charge anything from £30 onwards to your policy!!! I'm still waiting to hear but I am dreading it!! apparantly its an important factor and changes things!! They do ask for proof and if u fail to provide it then u have no insurance.

i definitly wouldnt risk it...

Reply 13

PataynaRolaay

Original post by sarah203

This is your first ever post, and it doesn't make sense, what do you mean they had got previous details wrong from past provider, okay, say this was our first time insurance, I'm sure everything would be fine. It knocked my quote off by a hundred quid

Reply 14

sarah203

Original post by PataynaRolaay

Okay ill give u an example of how they find out...when you log in to these comparison websites like confused.com and gocompare and u put all the details in they are all stored by the independant insurance provider. I went in and put a quote for my car being purchased in 2009 when my husband came to actually purchasing the quote he mistakenly put the year as 2010...i brought the insurance no problem.

It wasnt until a few weeks later out of the blue they contacted me to say they have noticed 2 different dates were put in when obtaining quotes and they need confirmation on which is correct and require the V5 document.

Remember you are putting incorrect information on your insurance, if by chance you are going to make a claim they look at every minor detail to catch u out and they will find it, especially as it's cleared stated on your V5 document which they will ask for.

Is it really worth taking a risk for £100 when you never know whats round the corner. if your claim fails your loosing alot more...i know what i'd do and I know many more people who regret making the choice you have.

seriously just think about it...what your doing is actually an offence which could cost you ££££

Reply 15

PataynaRolaay

Original post by sarah203

Your right, but which insurance provider are you in about that asked for v5? I'm gonna write the actual date I purchased the car

Reply 16

TheGodfather1

what if you buy a car just before xmas and insure it in January, lol i bet it makes a difference

Reply 17

h4mza

I have noticed this too. £2,238 if i bought the car few days ago and £1,521 if i bought the car 6 months ago.

Reply 18

2017kris

just bought newer car, so ill keep it in garage for few months to get lower insurance?! 😂🎉💩 sense?

i mistaken put on my mazda 2016 feb buying date and i got 62£/month, was happy when i realised year is wrong and i changed it, got up to 83/month-114/month. ****

Reply 19

clinton2407

i just found this out too and was thinking about trying it out but its too risky... i wouldn't mess with my license or insurance which is something that take a long long time to redeem... best thing to do is buy the car nd wait for a month or as long as u could without insuring it and that does make a little difference