Fully comprehensive car insurance 'not always worth it'
www.moneynews.co.uk > Insurance > Fully comprehensive car insurance 'not always worth it'
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Fully comprehensive car insurance 'not always worth it'
Mon 13th Oct 2008
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Helen Jacobs emailed the Sunday Mirror's Quentin Willson to ask for advice about insuring her 1996 BMW 318i.
It is worth £600 but to insure it comprehensively would cost £480.
Asked whether she would receive even the cost of her insurance should the car be written off or badly damaged, Mr Willson replied, "In a word, no."
He went on to state: "It's not worth shelling out £500 when your car's only worth six."
Mr Willson advised Ms Jacobs either to reduce her cover to less than fully comprehensive or buy a car "that's actually worth insuring".
Recently, the AA found that the gender gap between the cost of young men's and young women's car insurance is widening.
The gap has enlarged by 59 per cent since 2003 and males can expect their first year of cover to be twice as much as that of their female counterparts.
Click here for more insurance news.
Related News : Insurance |
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