Car insurance - can we claim money back?

J

josie80

Registered User
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Hi there, we started our car insurance policy a week ago and registered with a 1.6 lt car 1997, paid the amount in full, we're hoping to change our car this weekend to a 1997 1.3 litre, when i rang the insurance company they said we'd owe almost €400 euro if we lowered the value of the car, they advised to keep the value of the car at the original amount, also we wouldn't be owed any money back even though the engine is considerably lower.
Is this right, i thought we would have gotten 1-2 hundred back, has anyone else changed there car and ever received money back?
 
how much would you get back if you cancelled the ins and opened a new policy with them on the new car?
 
No she pretty much said that by lowering the value of the car doesn't lower the policy amount which makes no sense, i'm going to cancel the policy anyway as i rang around today and got a cheaper quote by €300 :)
 
Just to clarifgy, AFAIK, car values work in bands (up to 8000 value costs X, 8-15000 costs Y, that kind of thing) and there is little added on between bands. Its the size of engine, type of car that matters adn that's where the real loading comes.

Glad you got a cheaper quote anyhow!:)
 
unless its a high value car (above 60,000) the insurance company uses whats called a book value for the vehicle ...they dont listen to what value you give it...Id ring them back tell them you want a change of vehicle quotation...if it still pans out that your not getting a refund, ask for thier team leader and get them to explain it to you.

Also investigate how much you would get back if you were to cancel and then shop around (should def work if you have 5 years or more no claims bonus)...FBD are currently wiping the floor with everybody if your a decent risk
 
The banding of car values is not really the point here from what I can tell. The ins co. have turned this on its head. We know dropping value of car does not usually result in drop in cost of policy. But in this case, if I read correctly, the ins co. is saying cost of policy will increase if value is dropped, and therefore recommending value be left alone.
 
Yep that's what they were saying, we were also changing from a 1.6 to a 1.3 so thought policy would be cheaper but they only offered us €60 less..
Cancelled policy yesterday anyhows and went with cheaper quote (which was cheaper by €300), it really does pay to shop around :)
 
do you mind if i ask what company or broker you got the better price from
 
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