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Insurance for M3 [Trying to start a mega thread]


This is very interesting I never thought of excess insurance. How does this work? So if take my excess with LV all the way up to £1000 (compulsory+voluntary) and then pay this company £40 to get £1000 excess cover I technically have zero excess? Sounds like a no brainer although trying to read the fine print ... If I make a claim less than £1000.. say £900.. then can I get the £900 reimbursed to me or do they only pay out any excess if the claim is over £1000. ?
 
This is very interesting I never thought of excess insurance. How does this work? So if take my excess with LV all the way up to £1000 (compulsory+voluntary) and then pay this company £40 to get £1000 excess cover I technically have zero excess? Sounds like a no brainer although trying to read the fine print ... If I make a claim less than £1000.. say £900.. then can I get the £900 reimbursed to me or do they only pay out any excess if the claim is over £1000. ?

they cover your excess - nothing more than that. So in your last example - you would supply them evidence of the £900 excess, you would get £900 back. NOT the £1000.
 
they cover your excess - nothing more than that. So in your last example - you would supply them evidence of the £900 excess, you would get £900 back. NOT the £1000.

Thx ...some of the wording on the policy made it sound like they wouldn't pay a penny if your claim totalled less than the total excess ...i.e. a £1100 claim they would pay back £1000 but a £400 claim (e.g. for a minor scratch or paintwork) and they would pay nothing . But I probably read it wrong .
 
Thx ...some of the wording on the policy made it sound like they wouldn't pay a penny if your claim totalled less than the total excess ...i.e. a £1100 claim they would pay back £1000 but a £400 claim (e.g. for a minor scratch or paintwork) and they would pay nothing . But I probably read it wrong .

I don’t think you did, I would imagine the small print says you need to prove a claim on your parent policy. Fact is you are only going to be able to do that when the cost is greater than your excess. So, effectively you are paying £40 to cover you in case of an accident big enough to trigger that excess.
 
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Reactions: KennethS
I collect my car in Edinburgh on Nov 17th but am on hol 9-16th Nov so want to get all my sh1t together by next week - insurance , travel , ferry , paying Tesla etc.

On the insurance front I’m 37 years old , have driven for ten years . Never a driving incident but I have only three years no claims as I was late to learn to drive (lived in London city centre in my early 20s now live in Belfast) and then my wife and I shared a car so she accumulated the NCD.

Big excesses but can choice to negate this with excess insurance (people on here have quoted eg £40.00.

Anyway quotes are as follows:

Churchill £903
LV £1200
Admiral £1475
(these three all thru compare the market)
Direct Line - £1025
Have also contacted two brokers this evening and asked them to call me back next week 1) a Northern Ireland broker Abbey who I did my current car insurance with and 2) Novo


Is there anyone I have missed ????
 

Rooster6655

Active Member
May 3, 2019
2,051
831
UK
I collect my car in Edinburgh on Nov 17th but am on hol 9-16th Nov so want to get all my sh1t together by next week - insurance , travel , ferry , paying Tesla etc.

On the insurance front I’m 37 years old , have driven for ten years . Never a driving incident but I have only three years no claims as I was late to learn to drive (lived in London city centre in my early 20s now live in Belfast) and then my wife and I shared a car so she accumulated the NCD.

Big excesses but can choice to negate this with excess insurance (people on here have quoted eg £40.00.

Anyway quotes are as follows:

Churchill £903
LV £1200
Admiral £1475
(these three all thru compare the market)
Direct Line - £1025
Have also contacted two brokers this evening and asked them to call me back next week 1) a Northern Ireland broker Abbey who I did my current car insurance with and 2) Novo


Is there anyone I have missed ????

I had similar quotes and Novo was the best until LV came along
 
Might be worth asking DL if thats the best they can do against the Churchill quote. Never take the first quote that DL offer you, especially on renewal.

Also, worth checking everything else is equal between them all, things like excesses, introductory bonus', NCD protection, recovery, legal protection, courtesy car type and max duration (Tesla may be off the road for longer than normal in the event of an accident) etc etc are all things that insurers vary to keep headline price competitive.
 
I collect my car in Edinburgh on Nov 17th but am on hol 9-16th Nov so want to get all my sh1t together by next week - insurance , travel , ferry , paying Tesla etc.

On the insurance front I’m 37 years old , have driven for ten years . Never a driving incident but I have only three years no claims as I was late to learn to drive (lived in London city centre in my early 20s now live in Belfast) and then my wife and I shared a car so she accumulated the NCD.

Big excesses but can choice to negate this with excess insurance (people on here have quoted eg £40.00.

Anyway quotes are as follows:

Churchill £903
LV £1200
Admiral £1475
(these three all thru compare the market)
Direct Line - £1025
Have also contacted two brokers this evening and asked them to call me back next week 1) a Northern Ireland broker Abbey who I did my current car insurance with and 2) Novo


Is there anyone I have missed ????
Did you try AXA? I tested out a few before I placed my order. Axa for me was £301 compared with £376 for LV (although I've gone down the leasing route so I don't think AXA cover that scenario i.e. not the owner or registered keeper. I've a few years on you though and full NCD so hence the lower quote - it was a few weeks ago now so I'm sure it'll change if/when I get my car.
 

Roy W.

Battery running low...
Jun 3, 2019
2,334
2,405
Derby, UK
I took out the policy with direct line they said don't put the green line breakdown cover on as tesla has their own is this true?
Tesla do have their own recovery, but when I spoke to them at Stockport they said they wouldn’t rely on it, and I really ought to have some other breakdown cover!

IDK how much the Direct Line one is, but I’ve used Autoaid, £60 for the year.
 
Did you try AXA? I tested out a few before I placed my order. Axa for me was £301 compared with £376 for LV (although I've gone down the leasing route so I don't think AXA cover that scenario i.e. not the owner or registered keeper. I've a few years on you though and full NCD so hence the lower quote - it was a few weeks ago now so I'm sure it'll change if/when I get my car.
I tried Axa just now, and said it couldn't quote me insurance -- I've never seen an Axa quote on any of the comparison websites, so maybe they have something against my location?
 

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