Just bought an MGF just for it's engine but......

Anything goes in here.....
UncleRon
Posts: 105
Joined: Thu Jun 05, 2008 5:38 pm

Re: Just bought an MGF just for it's engine but......

Post by UncleRon » Fri Apr 25, 2014 9:02 am

I know I'm really clutching at straws now & this is not the ideal place for this sort of question - Not enough pikey hard up students on here but let me give it a go...

What do you reckon happens if a student takes out a new motor policy costing approx £1700 for the year costing £150 a month then finds out after a couple of months they can't afford it and cancel the policy? Do the insurance companies just let them cut & run or do they go after them for half the premium or something like that?

mxvx
Posts: 1027
Joined: Thu Mar 27, 2014 2:19 pm
Location: Aberdeen

Re: Just bought an MGF just for it's engine but......

Post by mxvx » Fri Apr 25, 2014 9:09 am

They will refund them a small amount. Details are in most policies cancellation sections.

UncleRon
Posts: 105
Joined: Thu Jun 05, 2008 5:38 pm

Re: Just bought an MGF just for it's engine but......

Post by UncleRon » Fri Apr 25, 2014 9:18 am

mxvx wrote:They will refund them a small amount. Details are in most policies cancellation sections.
Yes but if the student is only 2 months into the policy when they cancel it the aforesaid student will only have paid 2 X £150 = £300 of the £1700 policy so far.

In practice do the insurance companies chase more up more money on a cancelled policy which is being paid monthly ?

User avatar
neil
Posts: 3259
Joined: Fri Apr 06, 2007 1:55 pm
Location: Aberdeen

Re: Just bought an MGF just for it's engine but......

Post by neil » Fri Apr 25, 2014 9:27 am

You're not really paying it monthly though, you've taken a credit agreement out for the full amount so they'll want their money. It looks like if you cancel you lose roughly 2 months premium so in your example the 2 months will cost £600.
Exige V6

User avatar
Dominic
Posts: 14446
Joined: Sat Mar 19, 2005 10:14 am
Location: Milton Of Campsie
Contact:

Re: Just bought an MGF just for it's engine but......

Post by Dominic » Fri Apr 25, 2014 9:35 am

Probably a long shot, 10+ years ago, quite a few of my pals were insuring "performance" cars for much less through competition car insurance. Join a car club (Scottish Sporting CC for example, costs £10), and say you use it for autotests / navigational rallies. Allowed them much cheaper insurance, but as I say, things may have changed.
http://www.dsaccountancy.com

1999 Lotus Elise Sport 135'99

User avatar
j2 lot
Posts: 7660
Joined: Tue Dec 19, 2006 8:47 pm
Location: Strathaven / Glasgow

Re: Just bought an MGF just for it's engine but......

Post by j2 lot » Fri Apr 25, 2014 9:42 am

mxvx wrote:
robin wrote:Tut, no doubt Greg has the technical details, but in my simplistic view it is because the policy was obtained without giving complete details.

You cannot claim to be the main driver of a vehicle that you rarely drive if somebody else does drive it regularly.

Cheers,
Robin

Cheers,
Robin
Tut is saying his daughter is a named driver and drives it rarely. What is the issue with that?
I was run into a number of years ago by a driver who was driving on his fathers policy as a named driver, circunstances then transpired that the situation 'wasnt within the spirit of the agreement' i.e busted: his car, insured by his paw - policy was cancelled immediately and no payout was made for their vehicle or mine & they were advised to settle directly for my damage. As they couldn't, it was circa £15k, the insurer eventually paid my bill. Police were satisfied enough that they wouldnt prosecute for no insurance but insurer was having none of it and only paid my bill Under extreme pressure from claims management lawyers, and intended pursuing the driver for re-imbursement :shock:
Insurers are slippery as they can be and will wriggle out of a claim if there is any dubiety.
I would take down some of the comments made in this thread if it were me. :?
Last edited by j2 lot on Fri Apr 25, 2014 1:44 pm, edited 1 time in total.
2015 Lotus Evora
2022 Polestar 2 LRSM Plus
2023 Skoda Kodiaq Sportline

User avatar
BigD
Posts: 3209
Joined: Wed Aug 31, 2005 10:02 pm
Location: Falkirk

Re: Just bought an MGF just for it's engine but......

Post by BigD » Fri Apr 25, 2014 10:26 am

j2 lot wrote:
mxvx wrote:
robin wrote:Tut, no doubt Greg has the technical details, but in my simplistic view it is because the policy was obtained without giving complete details.

You cannot claim to be the main driver of a vehicle that you rarely drive if somebody else does drive it regularly.

Cheers,
Robin

Cheers,
Robin
Tut is saying his daughter is a named driver and drives it rarely. What is the issue with that?
I was run into a number of years ago by a driver who was driving on his fathers policy as a named driver, circunstances then transpired that the situation 'wasnt within the spirit of the agreement' i.e busted his car insured by his paw - policy was cancelled immediately and no payout was made for their vehicle or mine & they were advised to settle directly for my damage. As they couldn't, as it was circa £15k, the insurer eventually paid my bill. Police were satisfied enough that they wouldnt prosecute for no insurance but insurer was having none of it and only paid my bill Under extreme pressure from claims management lawyers, and intended pursuing the driver for re-imbursement :shock:
Insurers are slippery as they can be and will wriggle out of a claim if there is any dubiety.
I would take down some of the comments made in this thread if it were me. :?
Good real life example there. Not worth the risk or hassle imo.

You live by the sword, you die by the sword. We are all adults and responsible for out own actions.....

User avatar
sendmyusername
Posts: 378
Joined: Mon Oct 01, 2012 7:03 pm

Re: Just bought an MGF just for it's engine but......

Post by sendmyusername » Sat Apr 26, 2014 8:26 pm

The insurance companies were talking about this a few years ago.
They reckoned most "named drivers" were actually the main drivers, and that to investigate them all would cost too much money, but once a claim is in, then it means it's more cost effective to investigate as it will save them money by not paying out.
So covered as long as nothing goes wrong, then shafted. Although, you are in breach of terms and conditions, and technically fraud too.
P.s. This would then need to be declared on future insurance, under the question - have you ever been refused cover or had your cover cancelled. This is really really bad. They treat this worse than drink driving, as it's usually for fraud, and it's them you were trying to defraud. Very high premiums..
P.p.s. You are also costing them money doing this as they would be able to charge more for the premiums..

User avatar
sendmyusername
Posts: 378
Joined: Mon Oct 01, 2012 7:03 pm

Re: Just bought an MGF just for it's engine but......

Post by sendmyusername » Sat Apr 26, 2014 8:38 pm

P.p.s. Try swinton and directline.
My daughter had a bump, lost three years no claims, and managed to drop her premium from £600 pre-bump to £300 post bump.
Directline were far cheaper than aviva and admiral for me this year to the tune of £310 (three cars, and g/f doesn't have any no claims on account of living abroad for a while)
Was about £120 for Crz £120 for elise, and £305 for her micra .... (she's the main driver)
She's named driver on the crz and elise
So i can see why people use the named driver nonsense.....

User avatar
hiscot
Posts: 757
Joined: Mon May 08, 2006 8:56 am
Location: North Scotland

Re: Just bought an MGF just for it's engine but......

Post by hiscot » Sun Apr 27, 2014 10:13 am

When it comes to removing the engine , the car has to be lifted very high over the engine, with the front on ramps ect
without a hoist to hand I found a new way :D

Image
SAM_1742 by hiscot, on Flickr
bob

Light travels faster than sound. This is why some people appear bright until you hear them speak

User avatar
robin
Jedi Master
Posts: 10546
Joined: Mon Mar 27, 2006 1:39 pm

Re: Just bought an MGF just for it's engine but......

Post by robin » Sun Apr 27, 2014 11:21 am

Did you chain the rear to the house and then drive off at speed? :-)
I is in your loomz nibblin ur wirez
#bemoretut

User avatar
tut
Barefoot Ninja
Posts: 22975
Joined: Tue Mar 15, 2005 5:53 pm
Location: Tut End, Glen of Newmill

Re: Just bought an MGF just for it's engine but......

Post by tut » Sun Apr 27, 2014 9:12 pm

They can talk all they bloody well want, and then go and stuff themselves.

Clare is in Dubai for ten months a year, Luke is equal time on and offshore, Ian is away 240 days a year, how the hell can they be the main drivers when Verian and I are retired and here all the time?

And how can they prove who is the main driver, take a photo every time someone gets in and out of the car? They are a bunch of leeches who conspire with each other, the repair garages, the hire car companies etc, and that is what keeps pushing up the policy prices and not the punters. I learnt after N1 was written off what a bunch of conniving twats they are and they are not getting away with that with N3. I have already saved them thousands by keeping the car here and not in storage plus not taking a hire car which I am entitled too until I get the car back or otherwise.

Robin has no time for Insurance companies, but he is in the queue behind me. And I would be quite pleased if they happen to read this as there is nothing to hide.

tut

woody
Posts: 5637
Joined: Mon Dec 26, 2005 4:03 pm
Location: Southside Triangle

Re: Just bought an MGF just for it's engine but......

Post by woody » Sun Apr 27, 2014 10:17 pm

hiscot wrote:When it comes to removing the engine , the car has to be lifted very high over the engine, with the front on ramps ect
without a hoist to hand I found a new way :D

Image
SAM_1742 by hiscot, on Flickr
Think it took Shug and me 3 hours including tea breaks to get the engine out of mine, jacking it ever higher with more and more packing on the jack. Wrestling it into a trailer sans subframe and everything that goes with it was something I'd not be in a hurry to repeat.

User avatar
hiscot
Posts: 757
Joined: Mon May 08, 2006 8:56 am
Location: North Scotland

Re: Just bought an MGF just for it's engine but......

Post by hiscot » Sun Apr 27, 2014 10:24 pm

would you believe , I was lucky the subframe bolted back onto a front mount ( other one the bolt snapped )
I just winched the car onto the trailer and away it went
bob

Light travels faster than sound. This is why some people appear bright until you hear them speak

User avatar
sendmyusername
Posts: 378
Joined: Mon Oct 01, 2012 7:03 pm

Re: Just bought an MGF just for it's engine but......

Post by sendmyusername » Sun Apr 27, 2014 11:00 pm

Not sure about this, but daughter was a named driver on my policy for the first year.
If she'd been in an accident, it would have gone against my policy, and also she would have to declare it when she got her own insurance.
So that would mean i would be penalised for her accident AND she also would have been penalised.
I'm not overly sure as luckily i never had to find out.
Also, i had to run up four years no claims on two seperate policies, yet when i had an accident on one of the policies, it counted on both of them ?
You can only use your no claims on one vehicle, but any claims you make goes against all of them ?
I had protect ncb, but it still loads your premium if you have an accident ?
fcuk rip off !
Although when i wrote of my exige with the sports pack, the insurance accessor thought that the 'exige S' stood for sports, not supercharged...
Did really well out of that arrangement (it's not for me to refuse an offer after i supplied them with all the facts)
Bought the car back too, and sold it to a breaker/repair yard for a tidy profit too...

Post Reply