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Car insurance quote figures (Baffled)


Autoschediastic

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Afternoon all, my wife has just looked at moneysupermarket.com for the best quote on a new car and im lost as to where the figures come from?

first car we was intrested in was only £4500 second hand, the above site found the best deal was £787 py around £65 pm for a 1.4cc engine

We have just seen another car the exact same from another dealer but £1500 cheaper cause its 2 years older and the best deal moneysupermarket.com found was £1300? its the same size engine the same car with no modifications the same details inputted but the car that has a quote of £1300 is much cheaper then the first car.? so how is it that they can charge £500 less for a more expensive car? are the prices just made up? both the quotes was done within 24 hours of each other.

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Blackhat

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Autoschediastic

You need to understand from the insurer’s side, the value of your car is not the deciding factor for the insurer, they are insuring against a pay out to a 3rd party whose vehicle value cannot be pre-determined.

Their system tells them that you are statistically more likely to have a claim against you in an older car, hence a bigger quote.

That is what I heard on a radio show discussion a few weeks ago.

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Autoschediastic

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Blackhat thanks!

But there was only two years the difference? would that make a £500 higher cost?

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john 52

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I may have got the wrong end of what you are asking but the 2nd car was 2 years older and the same model but costs more to insure ? Well it does not always work like in the fact that model improvements are made in the ease and cost of repair ,security of the car is changed slightly making less likely to be stolen ,insurance groups are changed for the newer model while the newer model may seem exactly the same as the older model it may not be and may be a case that these changes can influence the premium . But it is not unknown for Insurance companies to make a mistake

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Noldi

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I know some 3 series BMW around late 1990s early 2000 was updated and the newer version was clased as a lot safer and cheaper to insure, the E37 springs to mind. It was before the slight radius in the shape below the head lights and the older it was straight.

Noldi

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Noldi

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The E36 the older was more expensive to insure than the newer E46.

Noldi

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johndrew

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I have always found the best quotes are given by my local insurance broker. They seem to have a different system/companies/sources to the online offerings and get better deals - even with the small charge they add for the service. Must be worth a try with your experience to date.

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