Advantages Low cost, they don't penalise young/new drivers
Disadvantages None so far
|Competitiveness of APR|
|Comprehensiveness of range of products|
|Efficiency of service|
|Value for money|
|Online - Content/organization of site||Good|
|Online - Reliability/speed of site||Good|
I passed my driving test in January 2003 and bought my car in the February of that year. I chose a Peugeot 206 (1.1 – small engine) but as I was under 21 at the time, I did not qualify for the year’s free insurance offered with the car and so had to go about finding my own (sigh).I had seen many adverts on the television for Diamond “cheap car insurance just for women” and as they had a website, I visited to see what they would offer. The premium I was quoted was £1,095.29 over 10 months, with the first payment due immediately of £246.37 followed by 8 instalments of £109.24 with a payment holiday in June. Being a new driver, I expected the premium to be high and thought this was good. I also took my Pass Plus and expected that this would bring down my premium somewhat. I was wrong! They reduced the premium by £32.19!
Six months down the line, however, I just happened to be browsing the Internet and came across an advert for Tesco Insurance with 10% discount when bought online. What the hey, I thought. I only wanted a quote and if I didn’t want it, I didn’t have to take it. And boy, am I happy I did come across that advert.Tesco quoted me £636.50 for a new driver of six months without No Claims Discount, with a voluntary excess of £250, which lowered the premium considerably. A saving for me of over £450! Of course I took it! I had to make an initial payment of £124.95, followed by one instalment at £55.19 and 9 further instalments of £55.23, giving me one month’s payment holiday. In an instant I was paying 50% less for my car insurance even though I was still a relatively new driver. (Tesco class an inexperienced driver as a person who has not held a full driving licence to drive for at least 1 year if issued in the United Kingdom or for at least 2 years if issued elsewhere).
I am still with Tesco Insurance today. My premium was recently renewed and has gone down to £498.75 (basic premium plus 1 years (30%) No Claims Discount). The only thing that bumped my premium up was the fact that I now do more mileage than I did a year ago, but the increase was minimal (something silly like £3).In addition, my monthly premium includes an interest charge of 7.0%, but it could be anything up to 15.9% APR and I consider this relatively minimal considering the amount I pay monthly and the amount I used to pay.
The premium offered by Tesco also includes a charge for a “Temporary Replacement Car” where they will provide you with a quality replacement car for up to 14 consecutive days while you’re making a claim and your car is off the road. Fortunately, I haven’t needed to use this service yet, but I’m sure that if I did, Tesco wouldn’t disappoint.I have recommended Tesco Insurance to others, in particular my friend who has been driving for 3 years more than me but pays around £800 for a similar, low insurance car. Her face was a picture when I told her how much my premium was, so I’m sure she will be checking out what Tesco Insurance can offer her soon!
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