As I said Andy, rental companies use this method as insuring a fleet of a million vehicles gets expensive. I also said if you can't afford to lose the entire value of the vehicle you are insuring then 3rd party is not for you. No they were not my cars, I have better taste than a nasty RR or an S class.Andyboy wrote:That's the most ridiculous thing I've read on the Zone for some time. How about theft, vandalism, flood damage or an engine bay fire? I assume you weren't actually the owner of said 60 grand Merc/RR? Spending 60k on a car and trying to save £600 on insurance is for the terminally retarded.Jon_Bmw wrote: Some might say its risky, but ultimately if you are 100% confident in your own abilities and can always claim off someone else(think, being rear ended) why not take advantage of cheaper insurance. The clever person would save the difference between fully comp and third party and keep it as a failsafe.
If you can't afford to lose the total value of the car you are insuring, 3rd party is not for you.
Whats the point of insuring a £2-3k car fully comp. Say you hit a tree. The insurance company will pay out £1500 if you are lucky. Your insurance premium could raise as much as £500 if you tell them. Your excess could be £300-500 on a e36 m3. So you take home £500. Nice.
You know that you could tow the fucker home and break the remaining good bits for say £1500 on a bad day. You don't pay the excess, you don't suffer an at fault claim on your insurance.
Also on the thread earlier I mentioned personally insuring a £7k car 3rd party was a bit extreme, I think £3k is the limit personally. I mearly offered the above example to the third party haterz.
