Hi All,
Apologies if I'm going over old ground here. I was advised, just before my insurance renewal, that "standard" cars (not "classics", I suppose) over 10 years old have no residual value in insurance terms.
I checked this just before renewal time and found out that I had been paying fully comp for 2 years for absolutely no reason. This has cost me over 300 euros a year and I have now reverted to 3rd party.
Neither insurers nor their agents will automatically inform you of this, it is surprising that insurers should even be allowed to offer fully comp in these circumstances. Surprising or just plain wrong?
Thought I'd let everyone know, if they didn't already. There will be exceptions, I'm quite sure but in my case, it was straightforward.
Bon courage,
Neill
yep...it was confused...we had moved to the languedoc...registered the car as French...in Perpignan....moved to the Dordogne..paperwork their end got lost...we ended up with two insurances...neither would budge...we were 800 euros out of pocket...and mighty peed off...it was actually Axa who insured us without request the second time....but it seems this is what insurance companies do now....if I want to insure...I will inform the agency...in fact my present insurance company was cancelled for next year...the first month I took out the policy...I cancelled it for the due date at the end of 12 months so I wouldnt get caught again....
I'm sure you could have got a refund from one of them Carol as you can't "double insure". If you'd had an accident who would have paid? The upside is you now have two no claims bonuses :-)
I think the insurer must have sent a renewal notice before the 60 days for them to invoke the notice period thing. We were with Axa a few years ago and decided to move because of rotten service from their local agent. Because they hadn't sent us a renewal notice (part of the rotten service) we could dump them overnight. Now with MAAf who are much better and cheaper.
will check this Neill...got caught badly last year...we insured the car the first year...and the next year looked around...and chose someone much cheaper...didnt read the small print in the first insurance companies blurb..that if we didnt advise them 60 days before renewal was due that we would not go with them...there was an automatic renewal...so ended up paying for both...in fact...had the same problem in the UK last year...I get fed up with being taken for a ride....if I want renewal..I will ask for renewal...am now extra cautious about such things..so will go check my policy...
No Carol, the "other drivers" clause isn't linked to fully comp. In fact, my fully comp cover did NOT include other drivers and when I changed, my insurers told me they are removing that restriction anyway as a matter of course, I had the choice before. So it was a win win for me. I must say though that you would need to check with your own insurers, they may play by different rules.
would this not restrict others from driving the car? I have an old vauxhall I brought from the UK...registered here and it is coming up to 10 years old...we have another car, a much more recent French car....we use mine for short runs locally and let friends who come to stay use it...if we had 3rd party could we still lend it out?