What excess is best for insurance?

[Nova1.6]

?200 - ?450,
can someone tell me the advantages and dis-advantages in having a lower or higher excess, i like the idea of having a higher excess coz then its more money for me during the month, but this may not be the best idea? Any ideas plz, getting it sorted asap.

[Chris LR]

Well it depends, I've got ?400, so i have got to have ?400 safe which I can't touch, It ment that my premium was lower tho.

It depends on your ??? situation, and when it comes in?

[Nova1.6]

so the ?400, is that only what you have to pay for the damage to YOUR own car. or does it include the amount u have to pay outa ur own pocket for the other car, if one's involved.
Neil

[Chris LR]

I think it the first ?400 of any claim, so I think it applys to both cars.

Say if I hit a car and did ?500 damage to that, and ?500 damage to my own I'd pay ?400 out of the ?1000.

I'm not 100% on this. I prefere to talk to insurance companies once a year. best wait for someone else.

[Jim]

Isn't there a guide on the site somewhere about Insurance? It covers most points and probably has a paragraph or two about excess. Have a look around the site.

Jim

[Nova1.6]

cheers jimmy, will look now...

[Nova1.6]

just had alook, nothing on there. ill ave to ask me father, he knows everything.

[Chris LR]

Can u ask him if money grows on trees? and if it does, where is the Money tree?

[bish]

i thought excess is when you have an accident the excess is the amount of money you have to pay to the insurance company out of your own pocket.
the lower the excess the more expensive the policy will be
if you want a cheaper policy you can choose to pay a higher excess but then if you have an accident you need to pay whatever your excess is rather than the insurance company paying for it all.

i think thats how it works.

[Nova1.6]

yeah i knwo thats how it works but i want to know if the excess aplies to YOUR OWN car or the other car(if involved) aswell?

[bish]

i think it applies to the other car cos i always have 3rd party insurance and i would have to pay excess if i hit someone to get their car repaired by the insurance company,not sure about your own car how that works

[Ste_Nova]

is ur car worth ?400 chris?

[bish]

i think basically after an accident you have to pay the excess before the insurance company will do anything atall,once you pay your excess then the insurance company pays for the damage to your car and other car if involved.

[Anton]

I'm ?250 excess, but I'm not going through my insurance after myt accident, so I'm not paying it

[jatinder]

if the accidents not ur fault u dont have to pay excess

[wisewood]

Insurance Guides... two of them...

one by ian, other by novanutter.

http://www.novaload.net/forums/viewtopic.php?t=63463
http://www.novaload.net/forums/viewtopic.php?t=65675

[Will]

my guide doesnt go into detail abt excess from wot i remember, ian will know a lot more as he works for insurance as others on this site do i think.

Anyway dont take this as gospel but i think it works like this. I will use examples with a ?400 excess.

1. sum1 hits u up the back, there fault, there insurance pay. Your excess doesnt come into it for you, might for them but who cares.

2. you hit sum1 and cause ?200 damage to your car and write theres off, theres is worth ?600. u pay for ?400 out of the ?800 like chris said

3. u roll ur car, no names mentioned, LOL, if you calim on insurance and your nova is worth ?800 you will get ?400.

Make sense?

hope so, lol

Will

[ade]

when I side swiped a royal mail van 6 years ago, I had to claim on my insurance to get my front end fixed - I had ?200 excess on my policy at the time and this was the only amount I had to pay for the repair bill (which came it at over ?1,000 at the time). Luckily Royal Mail didnt claim as they have their own body shops. :D

Thing was I had no no claims so my insurance rocketted!

Most policies have excess for things like windows, my understanding is its the bit you have to pay for damage you cause to yours or someone elses car.

Excess also falls as your no claims goes up.

[Nova1.6]

cheers guys.

[Aragorn]

um if your third party then there is no excess so as far as i know it must only apply to your car repair

im TPFT and ive got excess on theft but not on the third party bit

[Nova1.6]

ok guys ive sorted it.

I'm 19, 0 yrs NCB and 1 accident not my fault and with my car with these mods declared:

:arrow: 1.6 engine change
:arrow: lowered
:arrow: alloys
:arrow: exhuast
:arrow: spoiler(but it comes in as bodykit on their computers so i could get a full body kit)
:arrow: window tints

thats everything declaired which is best

and with ?450 excess(which i will keep to one side in my account)

it is.....

?763

Not bad i recon

With Liverpool victoria and spoke to Amanda Lewis on extrension 5366

I'm a happy chappy now :D

[carltoncrazy]

fuking hell,thats still alot,do you live in a town or something?
not taking the piss but 17 i was ALONE,on a v8 auto range rover,and that was 900 sumfing.
but then again i live in the middle of no where.on a hill :roll:
insurance is a rip off

[Chris LR]

Ian if you live in the towns you'll pay sh1t loads.

If I was to get a Nova in my own name this is what it would cost.

1984 1.0, With Admiral, ?1400 TPFT f*ck!

[Nova1.6]

well it's ?58 quid a month which is better then the ?114 im paying on my 1.2 at mo!

[Chris LR]

Well I happen to live in the Gun-Crime Capital of the Country! Damn Crime!

[carltoncrazy]

lol GUTTED CHRIS.
yeh fair point sheep but still bit much aint it.
i live on top of hill,looking down at milton keys,with safe old bill(the local bobby is any how).
then traffic cops round here r assholes,they towed the carlton away coz it was ouit of tax,and im like,wtf.
it ran out end of dec,and was towed away on the 7th,
hardly like the goverment need that 160 quid isit