Thinking of switching to 3rd Party Fire & Theft

laoisfan

Hi

Some background info first...

I have a 1999 1.3LX Silver Ford Fiesta (Petrol) with approx 123,000 on the clock. The car does not do much mileage per year, it would be lucky to do 2,000. It is mainly to go to the train station each morning & back home again in the evening (4 times per week). Train station is about 2.7 miles from home (I am in lovely Laois if you have not guessed already).

I am male, 34 yrs old, clean full-driving licence.

I would roughly estimate that the car is worth maybe between €1,500 & €2,000. Even with a trade in or for scrap I might only get €1,000 (if I'm lucky).

So...on to my question.

Last year my insurance (fully comprehensive) was for approx €400. On average, petrol costs are about €35 per month (for a full tank), give or take. Annual full-service of approx. €170.

Is it worth me getting fully comprehensive next September when my renewal comes around?

Petrol per year is probably €420.
Annual service is €170
Assume fully comprehensive insurance will be €400 again.
My car insurance has been around the 400 mark for the last 4 years, give or take a few euros. I am with FBD.

Total of €990. And that's not including if something serious is wrong with the car (which happened last year).

Total running costs of €990 versus what I reckon the car is worth. Should I consider switching to 3rd party fire & theft in September. It is mainly myself who drives it. Occasionally I will have passengers.

All thoughts, opinions, pros & cons welcomed!!

Thanks!!

TestTransmission

Wouldnt expect that much of a huge difference by swapping to 3rd party,you forgot to add in your motor tax btw

Eoin

laoisfan wrote:

Is it worth me getting fully comprehensive next September when my renewal comes around?

Impossible to say without knowing the differences in price between fully comp and TPFT.

I'll hazard a guess, and say you won't save much at all. Your premium is nearly as low as it gets and the value of your car is quite low.

keithclancy

laoisfan wrote: »

Hi

Some background info first...

I have a 1999 1.3LX Silver Ford Fiesta (Petrol) with approx 123,000 on the clock. The car does not do much mileage per year, it would be lucky to do 2,000. It is mainly to go to the train station each morning & back home again in the evening (4 times per week). Train station is about 2.7 miles from home (I am in lovely Laois if you have not guessed already).

I am male, 34 yrs old, clean full-driving licence.

I would roughly estimate that the car is worth maybe between €1,500 & €2,000. Even with a trade in or for scrap I might only get €1,000 (if I'm lucky).

So...on to my question.

Last year my insurance (fully comprehensive) was for approx €400. On average, petrol costs are about €35 per month (for a full tank), give or take. Annual full-service of approx. €170.

Is it worth me getting fully comprehensive next September when my renewal comes around?

Petrol per year is probably €420.
Annual service is €170
Assume fully comprehensive insurance will be €400 again.
My car insurance has been around the 400 mark for the last 4 years, give or take a few euros. I am with FBD.

Total of €990. And that's not including if something serious is wrong with the car (which happened last year).

Total running costs of €990 versus what I reckon the car is worth. Should I consider switching to 3rd party fire & theft in September. It is mainly myself who drives it. Occasionally I will have passengers.

All thoughts, opinions, pros & cons welcomed!!

Thanks!!

Think about it this way, if you completely wrote that car off, would you claim on Insurance and break your no claims bonus ... whats it worth .. 200, 300 Euros ?

Find the best and cheapest quote for TPO, the car is pretty much throwaway and your paying for something that you'll never use.

Unless your planning on the car catching fire with those expensive faberge eggs in the boot.

laoisfan

TestTransmission wrote: »

Wouldnt expect that much of a huge difference by swapping to 3rd party,you forgot to add in your motor tax btw

lol

Motor Tax: approx €310

So total running costs are €1,300.

Zubeneschamali

Comprehensive policies usually come with valuable extras, like insurance to drive other people's cars (with their permission), which I find useful.

no1beemerfan

I've a 1998 micra and its up for renewal and the difference between tpft and fully comp is only approx 20 to 50 euro depending on ins company.

laoisfan

no1beemerfan wrote: »

I've a 1998 micra and its up for renewal and the difference between tpft and fully comp is only approx 20 to 50 euro depending on ins company.

I did a quick check on FBD website and there was only about €100 euros diff. Now I know €100 is still €100 but....give the extras comprehensive over 3rd...it would hardly seem worth it to downgrade me insurance.

Ok guys, thanks for all the feedback etc. Much appreciated!

Esel

2.7 miles each way 4 times a week = GET A BICYCLE !

Atlantic Dawn

If the difference is €100 or less get fully comp, if not consider going third party. In my experience extras like breakdown assist and free windscreen replacement are worth atleast €100 a year on any car, breakdown assist particularly as the car gets older and is more prown to breakdown.

Barr

Difference in premium would be very small - get your insuers to do a quote.

Del2005

Increase the value to €3000, you're insurance should drop more then going TPO while maintaining the benefits of fully comp.

There is no issue with doing this as you'll get book value anyway.