[bobnobski]

my insurance is up for renewal march 1st - I have renewing through sainsburys bank which is about £300 FC for MCS. Coz my quote is so reasonable i was thinking of giving the dealer a call with regard opting for the shortfall insurance aswell. my mcs is 6months old but understand it can still be covered, has anyone done this and roughly how much is the premium?

[Hat]

i seem to remember the premium is something like 2-3% of the car's value at new. i didnt take mine out immediately, it was a couple of months later but i think its well worth the peace of mind, especially as i financed my car with a personal loan. to know that if the car is written off i'll get back the original value i paid for it means i can pay off my loan & not be left paying a loan for something i no longer own

[cook1e]

The Premium depends on how many years you take the shortfall out over and value of the car. I took mine out to cover the maximum 4 years and this was 3% of the invoice value. I guess the period of Insuarnace depends on how long you expect to keep the car, I think that 2 years was the minimum though. The premium can also be paid interest free at 25% up front and 10 monthly payments.


there is another potential issue with cheap insurance which has been covered by a recent thread on MINI2. Apparently sone of the cheaper companies do not cover any of the dealer fitted options so if you've got bigger wheels as an option for instance and they get damaged in an accident then the repair claim would be limited to the cost of standard wheels etc. With some companies even option packs such as the Chilli pack are specifically not covered. I'd check this out with Sainsbury's before you renew. I'm with Direct Line and they confirmed exactly what dealer fit options I had fitted to the car befoire quoting and confirmed that my extras would be fully covered.

[scooperman_uk]

a note regarding getting back what u paid for your car thru shortfall insurance

be carefull shortfall only covers the "factory fit" price of your MINI. anything that has been added at the dealer as an accessory is considered outside of the cover.

take for example, fitting driving lights, roof decals, cd changer (basically anything the dealer does to alter the car as delivered). the biggest shock is that even having a Works conversion isnt considered part of the cover of shortfall. so if you have added lots of extras to your MINI then consider this.

I found this out by reading the policy after purchasing the shortfall insurance. My dealer did not tell me this as he didnt know. infact the warranty manager didnt even know this. it wasnt until i queried this did they become aware of this limitation to "shortfall insurance"... i could have got my premium back under being missinformed but since my MINI is standard (my accessories are factory fit MFSW) i didnt bother too.

[bobnobski]

ok I been quoted 371 over 3 years for shortfall, add that to the 300 squid quote from sainsburys, and it looks like im covered everyway, for 400pound a year!

[KenL]

Quote: Originally Posted by bobnobski

ok I been quoted 371 over 3 years for shortfall, add that to the 300 squid quote from sainsburys, and it looks like im covered everyway, for 400pound a year!

£300 for insurance for your MCS, now that is good. You must be even older than me Bob

I got a quote of ~£420 for me & the missus for an MCS which seems pretty good.

[bobnobski]

Quote: Originally Posted by KenL

£300 for insurance for your MCS, now that is good. You must be even older than me Bob

I got a quote of ~£420 for me & the missus for an MCS which seems pretty good.

Ken - ive had various quotes from 750 down to 250!! - I am currently with Tesco, who came in at 430 for the renewal.

I am opting to move to Sainsburysbank.co.uk - I am 33, wife 34, 7 years NC, Garaged, NCP & legal cover.

Give them a try.

I am probably not older than you Ken but I'll put money on it that I am prettier!

[KenL]

Quote: Originally Posted by bobnobski

Ken - ive had various quotes from 750 down to 250!! - I am currently with Tesco, who came in at 430 for the renewal.

I am opting to move to Sainsburysbank.co.uk - I am 33, wife 34, 7 years NC, Garaged, NCP & legal cover.

Give them a try.

I am probably not older than you Ken but I'll put money on it that I am prettier!

Dammit you're younger, I'm 38 but my wife is only 33

No sure if you are prettier or not but surely I am the wiser