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ChrisA
Member Since: 02 Feb 2011
Location: Dorking, Surrey
Posts: 87
  
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| Price, Alloy, Tyre Protection - Good idea for who? |
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Hello,
I was offered these options...
Price Protection: If you write off your car, it gets nicked etc you'll get the full time of purchase invoice amount back for 3 years - £599
Vehicle Protection: They spray something like scotchguard on your leather seats £199
Alloy Protection: If you kerb your alloys they fix them up to 10 times for free £199
Tyre Protection: If you ruin your tyres somehow or have a blow out they'll replace a tyre upto 4 times in 3 years £199
...I'm not convinced they're worth it from my point of view as a rule of thumb I think if they are trying to sell this type of insurance then it's probably in thier interest but not mine.
My thoughts are: I've never had a blow out (touch wood) and maybe had 1 or two tyres ruined by a nail in around 20 years of driving, I've not scuffed my alloys on my current Freelander, surely leather is wipable anyway, I have a good insurance company.
Thoughts anyone?
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 3rd Feb 2011 1:43 pm |
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mwhwsmith
Member Since: 14 Feb 2010
Location: Herts
Posts: 76
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I tend to think these are all very poor value products. In general, insurance sold at 'point of sale' is very profit for the provider and hence poor for the customer. Because it is so profitable, the insurers can pay large commissions to dealers to push it. Hence it is pushed quite hard. For example mobile phone cover at PoS has a 5-10% claims cost (ie the insurer only pays out 5-10% of the premium to cover claims made).
You have two choices: a) leave it or b) haggle very aggressively.
Just my opinion.
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| 3rd Feb 2011 1:55 pm |
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MrH
Member Since: 08 Aug 2007
Location: lost in the forest
Posts: 7754
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Never had tyre/alloy protection, so can't comment on that - my experience is that AutoGlym and interior protection/Scotch guarding can be done a lot cheaper by going to an independant.
Gap insurance is also cheaper elsewhere. However, I got a quote for gap insurance from another company and then when the dealer asked if I wanted it I told him "yes, but only if you match/beat this quote" - and they did  LRs are a fond memory, apart from the maintenance.
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| 3rd Feb 2011 2:58 pm |
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Phil1644
Member Since: 14 Nov 2009
Location: Probably still in work!
Posts: 303
 
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About 15 years ago I worked for a large company that had a big fleet of vehicles. They had very basic third party insurance but were "self insured" for all other risks on the basis that if a vehicle got damaged a) did it need repairing at all or was it still serviceable and b) if they pooled all the premiums into a notional "pot" they would spend less in an average year on repairs than they paid out in premiums (because an insurer is out to make a profit).
To some extent I follow the same idea with my home and car insurance, buying the cheapest fully comp with a big excess. I never take Appliance insurance and just basic holiday medical insurance, never covering lost property etc. I hope that over say 10 or 20 years what I save in additional premiums will more than pay for any "losses".
I would be tempted to keep your money in your pocket and take a calculated risk!!
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| 3rd Feb 2011 7:21 pm |
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DrLex
Member Since: 15 Jul 2005
Location: Ciderspace [Oi be in Zummerset]
Posts: 4863
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| Re: Price, Alloy, Tyre Protection - Good idea for who? |
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ChrisA wrote:[...] I think if they are trying to sell this type of insurance then it's probably in thier interest but not mine.
Ding ding ding! You've got your answer. You'll often get Gap insurance with your motor insurance policy - NFU for example. Save your money. Time flies like an arrow; fruit flies like a banana
Member of Club Med Sucks
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| 3rd Feb 2011 7:53 pm |
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MrH
Member Since: 08 Aug 2007
Location: lost in the forest
Posts: 7754
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Yup, but the NFU gap insurance only covers 1st year - I wanted years 2 & 3 cover as well. LRs are a fond memory, apart from the maintenance.
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| 3rd Feb 2011 7:58 pm |
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caverD3
Member Since: 02 Jul 2006
Location: Oberon, NSW
Posts: 6922
 
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| 3rd Feb 2011 8:30 pm |
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WelshDisco
Member Since: 24 Sep 2007
Location: Cynon Valley
Posts: 123
 
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Price Protection: If you write off your car, it gets nicked etc you'll get the full time of purchase invoice amount back for 3 years - £599
I was offered this on Monday for £399 - Landrover Solihull did not take it out!
Vehicle Protection: They spray something like scotchguard on your leather seats £199
This was done free of charge!
Alloy Protection: If you kerb your alloys they fix them up to 10 times for free £199
Did not take it out!
Tyre Protection: If you ruin your tyres somehow or have a blow out they'll replace a tyre upto 4 times in 3 years £199
Did take the tyre protection as my Disco 3 had a coach bolt in one of the tyres at just two week old and it cost me £250 for a new tyre!
Its just another way they get money out of you!! 2010/60 Discovery 4 XS Zermatt Silver - Privacy Glass, Timed Climate (with remote), Voice, 4x4 screen, Bong on lock/un-lock (Pete BellAutos)
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Military 90 (1986) gone but not fogotten!
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| 3rd Feb 2011 8:36 pm |
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ChrisA
Member Since: 02 Feb 2011
Location: Dorking, Surrey
Posts: 87
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Thanks for all your comments. This forum's great!
Here's what I've decided/concluded:
I think the chances of me writing off the car/having it stolen AND ruining a tyre/blow-out AND crunching my alloys AND spilling something damaging on the leather seats are pretty small.
Perhaps I will need to repair an alloy and maybe it's my time for a bolt through a tyre but even if I do odds are I'll still be better off overall by not taking out these POS policies.
Thanks again everyone.
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| 4th Feb 2011 10:13 am |
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BBDisco3
Member Since: 23 Nov 2008
Location: Cheshire
Posts: 3646
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Chris
i have sent you a PM
B
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| 4th Feb 2011 1:09 pm |
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Edd
Member Since: 11 Mar 2007
Location: South Derbyshire
Posts: 80
 
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MrH I think you'll find the NFU offer a two year cover deal now - I asked recently as I thought it was only one
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| 5th Feb 2011 11:08 am |
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ChrisA
Member Since: 02 Feb 2011
Location: Dorking, Surrey
Posts: 87
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Hello,
After the reading your replies and talking to my insurance bloke I told the Land Rover finance guy that I didn't want the extra cover and he instantly dropped the price to £500 all in. When I say "all in" that didn't include the Price Protection insurance but all the others. I countered with an offer of £250 which he declined and delightfully he followed it up with a very good impression of a grumpy teenager for a while before sulking off. I was unimpressed with this, he'd effectively said "Yeah, last week I was trying to rip you off and this week I'm going to try and rip you off a little less". If he'd given me this price originally I would've been more inclined to go for it - maybe.
Coincidentally, I was in Mercedes buying an E Class (with someone else not me personally buying it - I'm not a footballer) and the salesman also tried to push the exact same insurance schemes. This is not surprising as both Mercedes and Land Rover are "owned" by Inchape. What was surprising is that all the policies were £100 more each. I'd could understand that if the car was more expensive or had more wheels than the Disco but it was about 10K cheaper, and had four similarly sized wheels. I don't begrudge these guys making an honest profit out of me but the key here is "honest"...
...and I suppose, for me at least, that sums up the bitter sweet that is buying a car from these people. On the one hand I get a superb new car, my nostrils are even now anticipating the new car smell and on the other hand no matter how good I think the deal is, regardless of the free rubber mats and the warm salesman's smile there's always a little nagging feeling...that I've been taken for a ride.
Happy motoring people!
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| 8th Feb 2011 11:26 am |
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