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(Post Link) post #1 of 11 Old 25-10-13 Thread Starter
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Budget insurance companies

Hi guys,

Would you use one?

I had a fault claim (settled for £3000/no personal injury) in December in my previous car so I wasn't expecting my insurance to be great this year but using confused.com, I've been quoted cheaper this year than last year!

Now, my last car was a 2.0 RS Clio so I know that's had an effect but companies I've never heard of are giving me really cheap quotes.

I've heard horror stories of these budget companies refusing to pay for claim s using loop holes or claiming that the quote was miscalculated and they want the extra or they cancel your policy so I'm a bit dubious.

Anyone had dealings with a budget company?

Cheers
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crazycarb
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I'm not sure what you mean by a budget co? is it the cheapest or what? I use a comparison site, and mostly go with the cheapest (I have my Alfas on agreed value ins though) My transit & merc are with the cheapest, some of whom are well respected, so I'm not sure how you are defining "budget"?
 
(Post Link) post #3 of 11 Old 25-10-13 Thread Starter
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I assume they are budget as they are up to £300 cheaper than the more known companies like admiral and Churchill. And like I said, I've never heard of most of them
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Check the T&Cs very very carefully. Particularly any excesses. When using sites like comparethemarket I have noticed that the cheapest tend to have large execesses. When you try to tailor the quote by lowering the excess they become more expensive than some of the other (larger) companies.
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Do some background checking - sometimes the budget companies are simply "internet-only" off-shoots from the more well-known names. They can be cheaper because they don't spend huge amounts on advertising....I mean that Churchill dog can't come cheap, can he?
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The cheaper companies should be mainly ok, as they all have to follow the law.

Which company was it just out of interest?
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crazycarb
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I now have two motors with Chaucer direct...an off shoot of Chaucer who have been around years. They were the cheapest on compare at the time.
Autonet are often very cheap, I've used them and they bung it through aviva. Don't be too concerned about not having heard of them, their overheads are far less as someone says about that stupid Churchill dog etc.
 
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Originally Posted by rgwm View Post
Do some background checking - sometimes the budget companies are simply "internet-only" off-shoots from the more well-known names. They can be cheaper because they don't spend huge amounts on advertising....I mean that Churchill dog can't come cheap, can he?
Spot on, i use Ecar insurance, halved my insurance and i got more add ons. No telephone number everything is done by email or instant messaging. You can also make amendments to your details via internet
 
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Like rgwm says, do some background checking. There's a difference between internet offshoots of the big names, and companies which you've never heard of. Obviously, some of them are fine, but how do you know?

Also, as a personal quirk, I always like to know the physical address of a company I buy anything from. It's usually easy to find out from their website. If not, why not?

A quick Google of Ecar produced:
BBC News - Concern about car insurance firm's 'high' refusal rate
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I use comparison sites - then check again on the company's "native" site and go for the least expensive quote from a company I've actually heard of!

Cheap insurance is a gamble - if you never have to claim it is always money in the bank. If you have to claim you might wish you had gone with another company. These days there is too much chicanery involved in insurance claims - including some people apparently being prepared to lie through their teeth in an attempt to protect their no claims bonus. Sometimes you need a big and powerful company to back you up (I speak from experience)
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(Post Link) post #11 of 11 Old 29-10-13 Thread Starter
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Cheers guys.


When I did some checks on the budget companies there were some shocking reviews. Went with rac in the end
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