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[Andy B]

My daughter's 'new' car was dropped off this afternoon, so she was following up some quotes that she'd done via Autotrader a week or so back. One was from Admiral for £954 if paid for in one go, so she asked how much to spread it out over the year. £120 a month over 12 payments!!  That's about 66% interest! I know that Admiral are an insurance provider & not a bank, but I think that's unbelievable! 

[Tony H]

My daughter's 'new' car was dropped off this afternoon, so she was following up some quotes that she'd done via Autotrader a week or so back. One was from Admiral for £954 if paid for in one go, so she asked how much to spread it out over the year. £120 a month over 12 payments!!  That's about 66% interest! I know that Admiral are an insurance provider & not a bank, but I think that's unbelievable! 

break!!! at least Dick Turpin wore a mask

[TheBoy]

Wonder if they take account previous history/credit rating etc, as I'm sure they weren't bumping on that much for me for monthly payments (can't tell, as paid in one hit, then save that monthly payment I would be paying for next year's insurance - obviously at one point I had to cough up up-front)

[geoffr70]

It's wrong that they charge interest on insurance that is paid for monthly, but most people seem to accept it without question. Why should you pay for it in one go (or pay interest if in instalments) when the product/service you buy isn't received in one go?

[RobG]

It's wrong that they charge interest on insurance that is paid for monthly, but most people seem to accept it without question. Why should you pay for it in one go (or pay interest if in instalments) when the product/service you buy isn't received in one go?

Of course it is. If you have an accident within days of cover starting, insurance company pays for repair costs or otherwise in full (excepting excesses). They don`t pay costs on the basis that you have over 11 months left on your policy so "we`ll take 11 months to pay for repairs"

[Field Marshal Dr. Opti]

My daughter's 'new' car was dropped off this afternoon, so she was following up some quotes that she'd done via Autotrader a week or so back. One was from Admiral for £954 if paid for in one go, so she asked how much to spread it out over the year. £120 a month over 12 payments!!  That's about 66% interest! I know that Admiral are an insurance provider & not a bank, but I think that's unbelievable! 

Either your daughter drives a Veyron.......or has just turned seventeen.

Insurance costs are just crazy these days......and not just for the very young.

[davethediver]

Had this with admiral when I was looking at a multicar policy last year, it's not the interest that bumps it up (although it does add to it) but the fact the "give" discounts to those willing to pay in one hit.

Most insurers will add the equivalent of 10% for the privilidge of paying by direct debit but admiral seem to change the base premium when you mention your not paying in one go hence making the dd figure far higher than 10%.

As it is a fixed sum loan agreement you enter into when spreading the cost in any other retail industry it would be illegal to offer a price for cash then up it if said punter wants to take finance, once again showing that insurance companies are a law unto themselves

[Andy B]

....


Either your daughter drives a Veyron.......or has just turned seventeen.

Insurance costs are just crazy these days......and not just for the very young.

£954 is quite cheap these days for a youngster. Some of the young lads at work are paying £2000, £3000 and more. She's 23 next 

[Del Boy]

....


Either your daughter drives a Veyron.......or has just turned seventeen.

Insurance costs are just crazy these days......and not just for the very young.

£954 is quite cheap these days for a youngster. Some of the young lads at work are paying £2000, £3000 and more. She's 23 next 

Got my son to do a quote on one of the cars I've got out the back yesterday, namely a 2002 BMW 330d M Sport, I was amazed when the quote came in at £24,433.09 

[Andy B]

.....
Got my son to do a quote on one of the cars I've got out the back yesterday, namely a 2002 BMW 330d M Sport, I was amazed when the quote came in at £24,433.09 

is he taking them up on the quote then? 

[geoffr70]

It's wrong that they charge interest on insurance that is paid for monthly, but most people seem to accept it without question. Why should you pay for it in one go (or pay interest if in instalments) when the product/service you buy isn't received in one go?

Of course it is. If you have an accident within days of cover starting, insurance company pays for repair costs or otherwise in full (excepting excesses). They don`t pay costs on the basis that you have over 11 months left on your policy so "we`ll take 11 months to pay for repairs"

No it's not

PEOPLE JUST HAVE A HABIT ON HERE OF SAYING THE EXACT OPPOSITE OF WHAT ANYONE ELSE SAYS

[Del Boy]

.....
Got my son to do a quote on one of the cars I've got out the back yesterday, namely a 2002 BMW 330d M Sport, I was amazed when the quote came in at £24,433.09 

is he taking them up on the quote then? 

Well he was considering it 

[the alarming man]

.....
Got my son to do a quote on one of the cars I've got out the back yesterday, namely a 2002 BMW 330d M Sport, I was amazed when the quote came in at £24,433.09 

is he taking them up on the quote then? 

Well he was considering it 

how old is he del???

[Del Boy]

.....
Got my son to do a quote on one of the cars I've got out the back yesterday, namely a 2002 BMW 330d M Sport, I was amazed when the quote came in at £24,433.09 

is he taking them up on the quote then? 

Well he was considering it 

how old is he del???

17. Been getting pathetic quotes on everything though really, £6400 for an 06 plate 1.4 Polo, £5500 for my eldest sons 11 Plate 1.2 Corsa Limited Edition, £3500 for an 02 Saxo list goes on and on.

[the alarming man]

that is just stupid amount of money..