Low car insurance quote after hypothetical £1m claim... Watch

UniMastermindBOSS
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#1
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Okay, I'm 22 and just passed my test last month. I got a quote of £1350 for a 1.4 Grande Punto (08 onwards) from Moneysupermarket.

I said I'm the main driver/owner, said I parked it on a public road and I will be using it to drive to work. No lies at all. It's also including my dad as a secondary driver, who had a claim about 4 years ago, but had NCD protection. He may drive the car occasionally.

I'm worried about having a claim though, so just put in that I'd had my license for 2 months, and had an accident 2 weeks ago where the insurer paid out £10k

It increased the quote to just over £1500

I then tried with a £1m payout, as if I'd killed someone, and it was still just over £1500

None of the insurers seem to care about paying out a £1m claim! (I mean ones like Hastings, etc still had similar prices to before)

When I actually go through and buy the insurance, would they pick up on it?

Have I just been quite lucky by passing at 22 instead of 17 and having a dad with full NCD? My postcode is rated E though (even though it's in quite a good area)

Thanks
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ekudamram
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Be really wary about quotes that seem too good to be true.

I had my eye on a 1.2 Grande Clio V reg, I live in a good area and had both my parents on the policy, TPFT.

The quote the woman gave me was £850! I had just passed my test, so naturally, I went out and bought the car. After I'd bought it, I rang up to confirm my insurance and finalise everything, turns out she'd entered my details as having passed on 30/05/11 instead of 30/05/12. This brought my premium up to £1350! After complaining to the manager, who said there was nothing he could do, I paid one month upfront, drove it home and cancelled my policy. I got all my money back minus £20 admin fee.

I couldn't afford to keep the car then, so I had to sell it
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rmhumphries
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If everything you entered and any assumptions by MoneySupermarket are correct, and you agree and abide by the terms and conditions, it is fine. Maybe you are just lucky in that your particular set makes low risk somehow. It doesn't always make sense - if you really want a reason, you can always check everything is correct via phone.

P.s. Make sure it is a reputable insurance company ofcourse.
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UniMastermindBOSS
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(Original post by ekudamram)
Be really wary about quotes that seem too good to be true.

I had my eye on a 1.2 Grande Clio V reg, I live in a good area and had both my parents on the policy, TPFT.

The quote the woman gave me was £850! I had just passed my test, so naturally, I went out and bought the car. After I'd bought it, I rang up to confirm my insurance and finalise everything, turns out she'd entered my details as having passed on 30/05/11 instead of 30/05/12. This brought my premium up to £1350! After complaining to the manager, who said there was nothing he could do, I paid one month upfront, drove it home and cancelled my policy. I got all my money back minus £20 admin fee.

I couldn't afford to keep the car then, so I had to sell it
Sucks to hear

Did you just ring up or get it through a price comparison site/online? I mean, if I put all of the details in correctly, and it gives me a price, that's the price I would get the quote at right?

(Original post by rmhumphries)
If everything you entered and any assumptions by MoneySupermarket are correct, and you agree and abide by the terms and conditions, it is fine. Maybe you are just lucky in that your particular set makes low risk somehow. It doesn't always make sense - if you really want a reason, you can always check everything is correct via phone.

P.s. Make sure it is a reputable insurance company ofcourse.
Thanks for the reply, I guess I am just lucky

The insurer was quotemehappy, which is backed by Aviva. Even then, if I had issues with it, it's about £1k more for the companies like Hastings, etc..

Even though I hypothetically killed someone 2 weeks ago and the previous insurer paid out £1m :teehee:

Do you really think that makes sense though (about the previous claim and payout)?
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ekudamram
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I rang up and told her my details, if I did it myself on a comparison website, I'd assume I just made a mistake and took it on the chin, but even after confirming with the woman, the manager still wouldn't budge.

If you put in everything correctly, it will give you a quote and a reference number. The quote is usally valid for around 45 days after it was created, simply ring the company, give the reference number and hey presto!
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rmhumphries
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(Original post by UniMastermindBOSS)
Sucks to hear

Did you just ring up or get it through a price comparison site/online? I mean, if I put all of the details in correctly, and it gives me a price, that's the price I would get the quote at right?



Thanks for the reply, I guess I am just lucky

The insurer was quotemehappy, which is backed by Aviva. Even then, if I had issues with it, it's about £1k more for the companies like Hastings, etc..

Even though I hypothetically killed someone 2 weeks ago and the previous insurer paid out £1m :teehee:

Do you really think that makes sense though (about the previous claim and payout)?
Firstly, if you had killed someone, you would be in prison or banned from driving most likely.


It seems that something is stacking the odds in your favour, I don't know what. I would say, if you are worried, phone and confirm. If not - go for it -as long as you (and moneysupermarket in their assumptions) haven't lied, you are all good.
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455409
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i wouldnt consider £1350 amazing, more average. It's what mine is in an E postcode and i'm 19 just passed.
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Phantom Shadow
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What does http://www.motorcarinsuranceuk.co.uk...de-ratings.php list your post code as? Could be that you live in an A post code which will reduce it a fair bit (or your insurer's actual rating has your post code as a low cost).

My home is A on that list, my uni address says Refer and there is a £500ish difference between the 2.
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UniMastermindBOSS
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(Original post by james1211)
i wouldnt consider £1350 amazing, more average. It's what mine is in an E postcode and i'm 19 just passed.
I guess, but I don't understand how it's still so low after saying I had a claim where the insurer paid out so much money

that's why I'm a little confused
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Phantom Shadow
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Their stats show that people who have a very high value claim often don't have more claims?

Either that or perhaps it's all to do with when you've had non-fault/fault accidents which affects the risk and the value of the claim is not of much concern to them. If 2 identical people had claims at the same time, one having a £5k crash doesn't necessarily make them a lower risk than the other having a £100k crash - could've just crashed into a much more expensive car. The fact is there was an accident and its that which increased the quote not the actual value of the claim.
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shaun12345
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(Original post by UniMastermindBOSS)
Have I just been quite lucky by passing at 22 instead of 17
I wouldn't call that lucky? By the time i'm 22 i'll (hopefully) have had 4 years NCD, which has allowed me to drive where ever I wanted for the past 4 years...
Also, by being over 21 your insurance is automatically cheaper than a 17 year olds
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JC.
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I think my renewal was £116 this year. Paid it upfront - didn't see the point in having a Direct debit going out at a tenner a month. :eek:

*edit* actually it was a little over £130 now I think about it... had to pay for a new agreed valuation certificate this year. Insurance is so expensive.
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UniMastermindBOSS
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(Original post by shaun12345)
I wouldn't call that lucky? By the time i'm 22 i'll (hopefully) have had 4 years NCD, which has allowed me to drive where ever I wanted for the past 4 years...
Also, by being over 21 your insurance is automatically cheaper than a 17 year olds
Haha, you're right it's not lucky. 4 years NCB would be better, but all the money I've saved over these 4 years
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