Insurance Time Again

Its that time of year again, service MOT insurance ! Im curious as what to put for value these days, have so far put the purchase value of the car in the box, but clearly there has been depreciation and is it normal to reduce the residual value year on year? This may seem a daft question but this is the first car I have owned and only third year of insurance! All help appreciated M :dont know:

It's mainly there to trigger things like tracker & CAT 1 Thatcham alarms requirements, IME. It has zero effect on the payout unless it's an "agreed value" type insurance . Payouts are always calculated on market rates.

Yeah as NXI120 said, the value of your car that you enter in your insurance is not what you'll get paid if your car is a write-off (or unrecoverable). Your insurer will simply give you a fair (bwah ha ha) market value. There's a very broad spectrum where the vehicle price doesn't make any difference to your premium (I think it's up to £30,000 depending on insurer). After that point your premium will increase and you may be required to install trackers etc.

Thats interesting as I got some downward movement on pricing on Gocompare when I entered a lower residual value :dont know:

Give Gary at Keith Michaels a ring and tell him I sent you. Very good chap 0208 2880275

Have you chaps not heard of cashback sites? I am regularly saving, on average, £200+/year on car/house insurance/general online purchases. As that bare-footed dire-straiter sings, "money for nothing....."

I have just purchase a multi car policy today. My Porsche came in at sub £300 and all the other cars were very reasonable one being outstanding value because they alowed me to use my 10 yrs NCB on 2 cars one of which carry's none at all at the moment plus buisness use is allowed for both me and my spouse.( but not on the Porsche) I have the option to collect the policies on the renewal dates or reject and the others are unaffected as the prices are all fixed regardless.Next year they all collate and the fees are taken together.Current policies run as they are until expiriy and part payments are made to end them all on the date of the latest policy I.E. todays new one. I am very impressed with the discounts and service thus far. Admiral :thumb: was the broker. You can play about with all your priemium loaders as with other comparison sites. I did not complete on line so they rang me a sorted out further discounts. Porsche Catogory of my area is poor rating. Fully comp. Protected NCB Euro cover Windscreen cover. Courtesy car Wife to drive (bad record our Boudicca)

Yes, agree. If you have more then 3 cars the Admiral Multicar is excellent. My 996 Turbo came in at £360, the birds BMW £171. The trick is to add the 3rd car. (or more) I added my old beetle. It doesn't have to be for the complete year either. 4 months and they will give you the full years NCB on it aswell. Beelte £17!. all with full business use.. Ans as (quote) says, phone them for a better deal.. :thumb:

These have helped reduce my premium: Put the Mrs on it Put in garage Limited mileage Business use(cheaper with than without!) At next renewal I'll try and put it on a classic policy as it is 10 years old