Insurance anomalies

[heckler]

Just renewed the wife's 1993 1.6 V-SPEC AUTO insurance this morning and noticed basic premium has gone up from £215 to £311 in the last 3 years despite no claims increasing from 5 to 8 years (no other changes to policy). Is this just a sign of the times?

Secondly, I thought I'd explore the options for reducing the premium by changing policy type from fully comp to TPFT or TP only. Yet both of those options were more expensive than comprehensive cover. What's all that about?!

[Lee2246]

I think TP & TPFT are more expensive because there is 0 volentary excess. Where as when your fully comp you may have for example £350 excess.

On the price increase I read something in the papers insurance was increasing upto 40% across all insurers?

[PlayersNo6]

"by changing policy type from fully comp to TPFT or TP only. Yet both of those options were more expensive than comprehensive cover. What's all that about?!"

I think its because TPFT and, more so, TP only are used at the bottom end of the market hence the insurers see it as much more of a risk.

A punter paying full whack for fully comp is probably seen as a better, more careful, bet.

[heckler]

Good points - must be down to differences in excess and perception of risk.
Still, I was just working on the fundamental that they'd have less to pay out on in the case of TP or TPFT. The car is probably only worth 3-4x the excess so seems daft having fully comp which I thought we'd be paying more for.

While I'm on... she needs a new exhaust fairly soon (the car not the wife). Do people with any non-OEM exhaust (e.g. MX5 parts basic SS single exit) declare this as a modification?

[PlayersNo6]

I haven't got a s/s system on my MX5 but I've got a Magnex s/s system on my Vectra. I declare this and it's a pain getting quotes each year. I don't seem to be penalised for it though.

I only bought it because it was actually cheaper than a mild steel replacement!