£100 saving for parking on the road???

winngames · 19 Aug 2014 at 15:13

Hi everyone,

I'm moving house in 2 weeks, only 4 roads down on the same estate so I phoned up my insurance company and asked how much would I have to pay in increased premium for moving; they came back with the following.

Driveway - £87
On the road - £8 refund

is this normal? I've paid upfront for the year and by parking on the road I would save £100... makes no sense!

NVP · 19 Aug 2014 at 15:15

haha I called to clarify that my car is parked in a shared residential carpark as opposed to the stated driveway, had a £9 discount

Makes no sense to me either.

unrealrocks · 19 Aug 2014 at 15:21

My Smart's insurance is due at the end of the month so just while I was doing some comparisons just tried changing it from 'Driveway' to 'On road' ... sure enough - £10 less.

Think I might start parking on the road!

Diddums · 19 Aug 2014 at 15:23

I've had days when I get a quote from an insurance company one day, and exactly the same quote the next day was cheaper. I've done this numerous times as you can then pick out the cheapest number and go for that. It's not one company either, it's lots of them.

I'd love to know what their algorithm for quoting is.

MooMoo444 · 19 Aug 2014 at 15:25

It's all stats. In your postcode area they probably have record of a few people hitting their gates/walls in their driveway, which in turn then pushes up the premium for driveway parking.

It makes no practical sense, but it's how they work it out.

[TW]Fox · 19 Aug 2014 at 15:40

It makes perfect practical sense. Most car theft is as a result of theft with the keys, if the car is in a car park or on the road it isn't clear which house it belongs to and where the keys are.

vanandjuanunited · 19 Aug 2014 at 15:41

Plus more houses having a view of the car and likely lit Street rather than down the side of the house

Gaspanic · 19 Aug 2014 at 15:45

It's also easier to break into a vehicle in a quiet driveway with less public traffic than it is to try and do so in the middle of a road.

MooMoo444 · 19 Aug 2014 at 15:47

Interesting. I might see if parking on the road is cheaper then

NVP · 19 Aug 2014 at 15:48

[TW]Fox;26773868 said:
It makes perfect practical sense. Most car theft is as a result of theft with the keys, if the car is in a car park or on the road it isn't clear which house it belongs to and where the keys are.

Oooohh! Makes much more sense now

rG-tom · 19 Aug 2014 at 15:58

NVP said:
Oooohh! Makes much more sense now

for me parking on the road was by far the cheapest, then driveway, then communcal gated carpark, then most expensive was in a garage...not sure how the communal carpark one would help a thief?

NVP · 19 Aug 2014 at 16:14

Perhaps not a theft issue but accidental damage by other residents plays a factor.

Tom_ed1987 · 19 Aug 2014 at 16:28

Also i'd guess there are more instances of people scraping their own cars when reversing into a tiny garage and claiming, than when simply pulling up in the street

Dogbreath · 19 Aug 2014 at 16:52

[TW]Fox;26773868 said:
It makes perfect practical sense. Most car theft is as a result of theft with the keys, if the car is in a car park or on the road it isn't clear which house it belongs to and where the keys are.

Statisticaly, are you more likely to have your house broken into and keys and car stolen, or for some idiot to clip your car or to get it keyed if parked on the road? I find it hard to believe it's the first to be honest.

Howard · 19 Aug 2014 at 16:59

Dogbreath said:
Statisticaly, are you more likely to have your house broken into and keys and car stolen, or for some idiot to clip your car or to get it keyed if parked on the road? I find it hard to believe it's the first to be honest.

The cost of a claim for a broken bumper or a scuffed door is a lot lower than the cost of a claim for a whole car though

Akagi · 19 Aug 2014 at 17:04

There is nothing stopping you from saying that it is parked on the road, and then parking it on the drive though. Is there?

Someone breaks in and steals the keys while it is on your drive? It was parked directly outside your house, on the road.

Someone targets your house and vandalises your car while it is on your drive? It was parked on the road.

CEO of insurance company knocks on your door, car is on the drive? You were just about to change the oil, and then park it back in the road.

[TW]Fox · 19 Aug 2014 at 17:36

Dogbreath said:
Statisticaly, are you more likely to have your house broken into and keys and car stolen, or for some idiot to clip your car or to get it keyed if parked on the road? I find it hard to believe it's the first to be honest.

Hopefully then the insurers can hire you as a consultant and you can explain how they don't know how to value risk and that you know better

Akagi · 19 Aug 2014 at 18:30

Dogbreath said:
Statisticaly, are you more likely to have your house broken into and keys and car stolen, or for some idiot to clip your car or to get it keyed if parked on the road? I find it hard to believe it's the first to be honest.

And I suppose when someone clips or keys your car, the insurance company have to pay out as much as when the entire car goes missing?

bradUK · 19 Aug 2014 at 18:32

[TW]Fox;26773868 said:
It makes perfect practical sense. Most car theft is as a result of theft with the keys, if the car is in a car park or on the road it isn't clear which house it belongs to and where the keys are.

Boom!

Kenai · 19 Aug 2014 at 19:29

rG-tom said:
for me parking on the road was by far the cheapest, then driveway, then communcal gated carpark, then most expensive was in a garage...not sure how the communal carpark one would help a thief?

More concealed than a road if they want to do something like this:

https://www.youtube.com/watch?v=YLHo-GYG25Q