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Old 14-07-16, 04:51 PM   #1
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Default Insurance costs

Can't believe the cost of insuring a car for my 23 year old son. He's only had his licence for 4 months and we have first refusal on a decent 3 door 206 1.1L S petrol on a 54 plate for 400.

Big issue is the insurance. We knew it was going to be costly but over 3,500 is extracting the urine just a tad too much. On one search I added myself as a named driver and it went up to 4,416.

While I know premiums are based on statistical risks but if he was in stafford rather than being back home the cost would be around half the amount. They are definitely taking the piss with the postcode premium.

How is anyone supposed to begin to build their own no claims if they can't afford to insure their car. The cost of insurance versus the value of the car isn't the issue as I know this is to cover potential damage to other vehicles and compensation payments but they all need to get real in their pricing policy for new drivers.
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Old 14-07-16, 05:46 PM   #2
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My son tried to insure my van for courier use he is 24 and the best quote was 10000
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Old 15-07-16, 06:48 PM   #3
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Well got quotes on all kinds of makes and models.

Peugeot 206, 207, 307, 107
Citroen C1
Renault Twingo
Hyundai i10
Dacia - can't remember model

Best quote paying monthly was for a 2007 (56 plate) 207 1.4 S 3 door with 82,000 miles on the clock. Total cost 2188 fully comp with me as a named driver and a telematics box fitted. Cheapest quote on the same car and me as named driver without telematics was about another 700 on top.

Got to figure out some finances and if he can stump up half the monthly payments we'll pay the other half untill he gets a job.

He moved to Stafford where his fiancee lives. They split up so now he's coming home and had to give up his job. Our postcode is classed as town centre so the premiums are stupidly high because it's deemed as a high risk area.

EDIT

Strangely enough, every 1.2L 207 I got quotes on came in more expensive than this one car with the 1.4L engine.
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Old 16-07-16, 08:23 AM   #4
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Hi all our sister in law has just got a insurance on a multi car policy from admirial she has not passed her test and only had license for 3 months 23 years old car is dawoo matiz total fully comp 495 ! i was gobsmacked and double checked it for her with admiral and they said yes its right !
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Old 16-07-16, 01:08 PM   #5
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for provisional insurance that sounds about right. wait until she passes, then you'll be paying thousands
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Old 18-07-16, 04:03 PM   #6
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Just the way it goes...sometimes they are pricing to outprice if that makes sense. I.e. they don't want to insure it.
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Old 18-07-16, 06:31 PM   #7
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Quote:
Originally Posted by peugalisto View Post
Just the way it goes...sometimes they are pricing to outprice if that makes sense. I.e. they don't want to insure it.
I'd accept that if it was just the odd company giving stupidly high quotes but even the companies that say they specialise in insuring the new / young driver are coming up with even higher quotes. The car that returned the 2,188 cheapest quote was close on 4000 with telematics fitted with one of these specialist insurers.

You pay a fortune in driving lessons, pay for two tests only to find you still can't drive because you need a small mortgage to get insured. It's hardly surprising there are so many uninsured drivers on the road which in turn drives up the premiums for everyone else. A vicious circle which seems nigh on impossible to break.

Some insurers have been straight up from the get go and said they don't insure anyone unless they have one year no claims but if they all did that they would eventually have no business. You can't get a no claims if they can't get afford or get insurance in the first place.

The other stupid thing about insurance these days is that in some instances, 3rd party, fire & theft is more expensive than fully comprehensive. In what world does that make any kind of sense considering the risk they take on is less than comprehensive. It's the cost of repair or the payout on a write off they don't have to bear.

The whole insurance business needs a big shake up and even better regulation. The owners / shareholders know that if you want to legally drive you have to have insurance and they certainly seem to have clubbed together to price fix. They have a captive audience and they are ripping that audience of big time.
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Old 18-07-16, 11:02 PM   #8
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Quote:
Originally Posted by storeman View Post
I'd accept that if it was just the odd company giving stupidly high quotes but even the companies that say they specialise in insuring the new / young driver are coming up with even higher quotes. The car that returned the 2,188 cheapest quote was close on 4000 with telematics fitted with one of these specialist insurers.

You pay a fortune in driving lessons, pay for two tests only to find you still can't drive because you need a small mortgage to get insured. It's hardly surprising there are so many uninsured drivers on the road which in turn drives up the premiums for everyone else. A vicious circle which seems nigh on impossible to break.

Some insurers have been straight up from the get go and said they don't insure anyone unless they have one year no claims but if they all did that they would eventually have no business. You can't get a no claims if they can't get afford or get insurance in the first place.

The other stupid thing about insurance these days is that in some instances, 3rd party, fire & theft is more expensive than fully comprehensive. In what world does that make any kind of sense considering the risk they take on is less than comprehensive. It's the cost of repair or the payout on a write off they don't have to bear.

The whole insurance business needs a big shake up and even better regulation. The owners / shareholders know that if you want to legally drive you have to have insurance and they certainly seem to have clubbed together to price fix. They have a captive audience and they are ripping that audience of big time.
If you pass your test and wait a year then get a car and insured your not classed as a new driver so have lower premium
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Old 19-07-16, 07:05 AM   #9
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Its a joke isn't it. Being in my mid 40s I expected cheap insurance at some point in my life (although back in 2005 I got fully comp insurance on an MGF in Manchester for just 130 with Swift Cover).

At my recent renewal, after a move, Chris Knott bumped the price up to almost 600. I've still got ten years no claims, the area I've moved to isn't a bad area either.

I shopped around and got it down to around 450 with Tesco, which they grudgingly matched.

But I gave the comparison sites one last chance. I clicked on the Tesco quote and looked at it on screen for a good few moments, wondering whether to stick with the devil you know, or try someone else.

Although Knott's service is good, I don't agree with their "banking hours" and being unable to insure a car after lunchtime on Saturday - this is the 21st century after all.

On the screen I noticed a section "Enter your Tesco clubcard number for extra discounts". I've been a Clubcard holder for years and to get the points buy almost everything on my Clubcard credit card and then pay off the balance every month.

So, I entered the number, hoping for maybe 20 off.

No, I got over 250 off. Yes, I did type 250!
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Old 19-07-16, 07:49 AM   #10
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Dont even get me started on this... Im 26 now, 8 years no claims and am still paying 900 for my insurance.

I kept getting told by everyone, it will be cheaper when you are 21, it will be cheaper when you are 25.

It's fecking going up!!

My other half is 23, and has been driving for 8 months now. She looked at buying a BRAND NEW 208 1.2 82 Facelift. This car is nearly 3 years newer than mine, worth about the same now, not much less powerful as I have the 1.6 HDI 92 308.

Her current insurance quoted here 850!!! I understand that the car is a lower insurance group, but she hasn't even got a years no claims yet!? The only 2 differences on our policies is that she is a female, and our profession!
So how can she get cheaper insurance than me!!
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