[MINIMANIAUK]

This post could radically change the car buying market , I have been contacted by an insurance company that is launching a new insurance policy( starts on 1st september)
It will be an on line system for insurance ,nothing new in that......but the difference is the pricing ,they will be doing a fixed price of £440 for fully comp and £275 for TPF&T,
FOR ANY CAR UNDER £16000 value, regardless of insurance group and any age 17 onwards , when I first heard it I was highly sceptical to say the least,but it seems genuine, it is to be underwritten by ZURICH insurance and they are looking to shake up the insurance market(this will certainly to that!) they are also offering this one price scheme regardless of points on licence and NCB ,they have a website which is still under construction and I will put it up when it is live, They are doing an advertisement and launch article in MAX POWER magazine , and sending a rep round next week.
There will be apparently a £500 excess on all policies and NO penalties for ANY modifications , As and when I get more details I shall post them,but if this happens the car buying market would change overnight. I shall quiz the rep to death to find out the details and look for loopholes,as it sounds too good to be true -Adam

[JDinho]

Quote: Originally Posted by MINIMANIAUK (original)

it sounds too good to be true -Adam

Excuse my cynacism BUT it probably is!

My first ever car cost £700 to insure Third Party Fire & Theft with Pass Plus and now at 25 with no claims and no convictions in a decent postcode the premiums are still a total rip.

[MINIMANIAUK]

I remain cautious until more details are available, but I do remember the early days of low cost air travel and thinking "you cant fly to spain for £20" and now look at the likes of easyjet or ryanair and the impact of shaking up the airline business! The car insurance business is long overdue a similar shake up ,at present it is chaotic to say the least , there are many examples of upping premiums for no real reason ie the post code lottery where you could pay more or less premium by moving to the house next door?

[Paul]

Shame it's £16,000. Rules out most Cooper S owners right there.

[PhilUK]

Would you know if it's linked to GPS tracking? And/or mileage/time based?

[Hat]

a £500 excess is huge though - that rules out most minor claims immediately.

[MINIMANIAUK]

True the £16000 limit may not cover new /well specced cars,but it certainly covers a lot of used cooper s cars ,and consider how many owners did not get the cooper s due to the insurance premiums or indeed have not gone for the power upgrades for the same reason,although the thought of a lot of young drivers being able to insure big power used supercars sub £16000 as their first car is a bit of a concern,but who really knows the statistics on insurance claims other than the insurance companies themselves. I guess they have done their homework and the high excess reduces the claims made or they hope to capture a large segment of the customers from the traditional companies . I suspect the competition would have to fight back in some way which could be beneficial allround.wait and see...

[MINIMANIAUK]

As far as I know there are no mileage or gps restrictions just a fixed premium,fixed excess, fixed max value

[ricardo]

I fear that this new policy will only be available to applicants with porcine pets capable of soaring to great heights.

[JDinho]

Lmao

[MINIMANIAUK]

apparently the website will be www.4allinsure.com and www.4allinsure.co.uk porcine aviators also welcome as long as its under £16000 -dont shoot the messenger

[deggles]

This would be awesome.

I just can't see how they can cover the third party liability risk for the type of customer (in 'insurance risk' terms) they are going to attract If it turns out to be true I'll be down the dealers tomorrow! In fact, I wonder if Aston would take £15999.99 plus some book tokens for his JCW...

edit: come to think of it, the owner of those domains is a chap from South Wales. Coincidence?

[scooperman_uk]

03 mcs = £16.7K.

[A13EX F Cooper S]

I think there is a restriction on it that the car cannot be used after a certain time at night, not sure if this is correct or not but I think i heard it mentioned on the radio.

[deggles]

Quote: Originally Posted by A13EX F Cooper S (original)

I think there is a restriction on it that the car cannot be used after a certain time at night, not sure if this is correct or not but I think i heard it mentioned on the radio.

I think MoreThan were considering doing this - see this post. May or may not be the same scheme...

[MINIMANIAUK]

I have no idea how they calculate the risk with TPF&T , I suppose the younger insurers who cannot presently insure the hi power cars are also limited on their mileage due to the fuel costs, wait and see what happens , it would be of no benefit to the older drivers as the premiums are already reduced , so I guess they are appealing to the youth hence the value limit and excess

[MINIMANIAUK]

There was no mention of curfew hours ,I have no other info until a rep comes around next week and I can question them

[DevilRat]

Hi

I work for Zurich & have not yet heard about this insurance change. Currently Zurich won't insure me on my MCS, because I'm under 25!

[crjbaggy]

Their website is up and running - looks a bit 'cheap' to me and I'm not talking about the insurance quote....!

www.4allinsure.com

[MINIMANIAUK]

I just looked and the website is now up , but I dont think it is happening til the 1st sep , I must say that I have no connection with this company and have posted on here as a info that I think could be usefull to the younger MINI drivers who struggle with insurance premiums and wish to drive a cooper s or works or GTT or BBR etc..hope this is useful for forum members-Adam