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Car stolen watch

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    Hey all,

    So basically my car has been stolen. It's not worth much and I haven't even been driving it of late, hence why I'm not really bothered.

    So my question is what if the police do not find it, but I don't want any compensation from my insurers?

    I ask this as my insurance is about to run out next month, which would give me two years no claims. But if they pay for my stolen car, then I understand that this will invalidate my no claims?

    So therefore, I would rather they did not pay for it, and I get to keep my NCD. Is this possible?

    Thanks in advance
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    I'm sure they would be happy to not pay out, just give them a ring.
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    I would look at it this in a few ways.

    Firstly, when taking out insurance on your vehicle, how much did you put down the car was worth? This figure is important as you can then negotiate with the insurance company on this.

    A lot of factors are involved: Current car; worth; age; years driving; next car and worth.
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    I doubt you *have* to claim for it. I think you should ring up your insurers and tell them though, even if you don't make a claim for it.
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    if you werent going to claim, why take out fire & Theft insurance on it?
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    (Original post by jaw)
    if you werent going to claim, why take out fire & Theft insurance on it?
    My thoughts exactly..
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    (Original post by jaw)
    if you werent going to claim, why take out fire & Theft insurance on it?
    How about because it's a legal requirement to drive on the road? Seeing that Fire and Theft is the cheapest insurance option, I can see the OP's point of view with an escalated insurance premium over the next 3 years which would cost more than the insurance return.

    Unless of course, there's another way :ninja:
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    Maybe when he took out the policy he needed the car frequently..... Now he doesnt and TP would be fine. Anyway, no you dont have to claim at all, just let the policy run out and not renew. You might have to talk to the insurance company though, I would ask the police your dealing with, or "hypothetically" ask an insurance company. Just thinking in case its stopped by the police later......
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    (Original post by Né Stig)
    How about because it's a legal requirement to drive on the road? Seeing that Fire and Theft is the cheapest insurance option, I can see the OP's point of view with an escalated insurance premium over the next 3 years which would cost more than the insurance return.

    Unless of course, there's another way :ninja:

    Third party only is the minimum legal requirement, no need to have fire and theft as well.

    Levels of cover

    Third party only - covers what you hit but not your car
    TPFT - as above, but covers fire and theft!
    Fully Comp - Covers your car for all (or almost all) eventualities. If you crash into a ditch then they will pay out and replace it.
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    I always thought that Third Party included Fire and Theft?

    I'm blooming sure this was the case a few years ago?!
    In fact, most websites still only provide the TPFT or Fully Comp option?
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    (Original post by Né Stig)
    How about because it's a legal requirement to drive on the road? Seeing that Fire and Theft is the cheapest insurance option, I can see the OP's point of view with an escalated insurance premium over the next 3 years which would cost more than the insurance return.

    Unless of course, there's another way :ninja:
    erm. third party only?

    cheaper than fire and theft, and covers.. third party claims only..

    companies dont always offer it, many more do. Elephant, for example, do.

    you will need to notify the police and insurance company, otherwise it will be showing as a) not stolen and b) having valid insurance on ANPR to name but a few problems..
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    (Original post by Né Stig)
    I always thought that Third Party included Fire and Theft?

    I'm blooming sure this was the case a few years ago?!
    In fact, most websites still only provide the TPFT or Fully Comp option?
    Some places only do TPFT and FC, some do TPO.
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    Thanks for all your replies.

    I took out TPF&T as, at the time, I used the car a lot and as it was my first car, it did mean a lot to me, both financially and for usefulness. And as it was only like £40 more than just TP, I thought why not?

    However, my excess is £500, which is roughly the same value as the car. And taking into account the car is probably smashed and ripped to pieces by now, the costs of fixing it and the insurance premium hike would not be worth it.

    Nevertheless, I called the insurance company and told them I didn't want to claim, and they said its fine and I can keep my NCD. They cancelled my insurance and told me to tell them when I want to carry on with another car.
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    (Original post by Né Stig)
    How about because it's a legal requirement to drive on the road? Seeing that Fire and Theft is the cheapest insurance option, I can see the OP's point of view with an escalated insurance premium over the next 3 years which would cost more than the insurance return.

    Unless of course, there's another way :ninja:
    Third party only is the minimum required ( and it's the largest part of any premium)
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    Third party only is the legal requirement although a lot of insurers only offer TP with F&T as the minimum
 
 
 
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