Seems too good to be true

  • Thread starter Thread starter Anonymous
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Just been on http://www.quotemequickly.com for some car insurance for my friend. It seems he gets a quote for around £650 for the year on a 1.2 57Reg Corsa SXI for a fixed term of 3 years. I have never heard of this way of being insured before and would like to know if anyone else has.

The quote for £650 was from Zurich (but on the above website) but when I contacted Zurich they gave me a quote of around £1500 for the exact same details. Is it because of the fixidity that gets the price so low or is this a dodgy website?
 
There are several factors here:

1. The fact they keep the business for 3 years
2. The fact that each year the car will be worth less (although they dont usually pass that saving on, I must admit)
3. Your friend will be a year older each year, so it would likely come down anyway

Sounds a good deal, and providing it is underwritten by a reputable company (Zurich) it should be ok. Never heard of this method before, but sounds interesting.
 
Thinking about it, it might be worth checking out the following:

If you take normal insurance and crash your car, you then renew and have to pay more, or go elsewhere. If he crashes in year 1 of 3, what happens then? He wont still be on 650 I am sure. Will he be tied into whatever they decide? That is the only dodgy bit I would be concerned about.
 
add to that that if you gain 9 speeding points in year 1, your premium will not be affected in years 2 and 3?
 
sp3ctre said:
Thinking about it, it might be worth checking out the following:

If you take normal insurance and crash your car, you then renew and have to pay more, or go elsewhere. If he crashes in year 1 of 3, what happens then? He wont still be on 650 I am sure. Will he be tied into whatever they decide? That is the only dodgy bit I would be concerned about.
Click to expand...

It says if you crash once (say in the first year) you only get a 40% NCB instead of a 65% one which seems brilliant as normally you just lose it. Whether this takes the NCB off for the second year or you are still contractually obliged to carry on paying the £650 each year I am not sure. I'm gonna ring Zurich and see if they know anything about this and Lloyd Latchford who are supposed to be connected to this.

At first I thought it would work as a standard contract as if you crash there will be a warranty into the contract where the person insured pays for damages but there contract is still binding up to the 3 years it was made for. But it seems no-one has heard of this 3 year insurance so it's either new or some type of scam I think.

I'll keep you all posted when I find out what's going on, as if it's legit it could save a few £'s
 
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