Quick insurance question

Author
Discussion

marcus1875

Original Poster:

1,512 posts

142 months

Thursday 14th May 2015
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Hi guys,
Last year i had classsic car insurance, no ncd nor non accruing.
I got an SP30, a few months ago, 4pts and a couple of hundred fine.
Insurance quote this year, exactly the same as previous years other than the points.
Insurance is £40 less, hows that then?
Marcus

Vaud

50,477 posts

155 months

Thursday 14th May 2015
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SP30 isn't viewed as a significantly increased risk and so not taken into account?

98elise

26,586 posts

161 months

Friday 15th May 2015
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Insurance is just a stats game and it would appear that you no more likely to have an accident because you have a single speeding ticket.

It could also be that a number of things have changed to reduce your insurance (age, time license held etc), and the reduction would have been more if you hadn't got the ticket.

It might not make sense, but that's how insurance works.

ging84

8,897 posts

146 months

Sunday 17th May 2015
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you are a year older, unless you are at least 60, than that can only stand to make you lower risk, and if you are under 30, that will still be reasonably significant
you've had your license a year longer, if it's about 10 years or less, that's still significant.
You've had the car a year longer, if it was a new purchase last year, that can be particularly significant
general cost of car insurance might still be down slightly compared with this time last year


jagracer

8,248 posts

236 months

Sunday 17th May 2015
quotequote all
Marcus I'm not sure I understand your post, you say the quote is the same as last year but at the same time £40 cheaper???
As for classic car insurance it's not the same as ordinary insurance, I have an MGB that I was paid £88 April last year which was down from £8 the year before. In September I added another car with an agreed £25K value and they wanted £123 additional premium (for the 7 months to April 2015) which I paid.
Come renewal time this April it was £183 for the two cars.

Who are you insured with?

roofer

5,136 posts

211 months

Sunday 17th May 2015
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4 points for an SP30 ?

QBee

20,980 posts

144 months

Sunday 17th May 2015
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One SP30 doesn't usually affect your insurance. I have noticed renewal premiums reducing recently.

mcflurry

9,092 posts

253 months

Monday 18th May 2015
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Maybe SP30s are so common that insurer doesn't care?

SS2.

14,462 posts

238 months

Monday 18th May 2015
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roofer said:
4 points for an SP30 ?
Could be - the range for exceeding the statutory speed limit on a public road is 3 to 6 points.