Ridiculous insurance quotes.

martynh99 · 12 January 2010 at 12:32AM

I definitely don't agree with it but I can understand why there are so many un-insured cars out there.

I bought what I thought was a 'young driver' friendly car when my lad turned 17 so that he could learn to drive in it and use it when I wasn't and the intention to give him the car when his brother turned 17 2 years later and then i'd do the same again for younger lad.

For the first 2 years the insurance was about the same price, £570 a year - that was for a brand new Fiat Punto 1242cc, me as the owner/main driver and him as named driver - this wasn't fronting before anyone mentions it, i used it for work each day.

Latest renewal just came through £2550 :eek:
Rang insurance company up(BISL) and they have dropped that insurer from their panel and that is now the cheapest.

Anyhow as the youngest is now 17 it was time to give older lad the car and let him start earning no claims etc.
Quotes(all fully comp) we've had for him with me and his mum on as named drivers range from £962 to £8495 :eek: :eek: and thats with a voluntary excess of £500 - the car is only worth £4200 now and only cost £7795 brand new.

The £962 was with Admiral but if you want to pay monthly it works out at £1355.41 (£113.07 + 11*£112.94)

The 'young driver specialist' companies/policies were among the worst, Adrian Flux £2500 , Swinton £1800(and that was with Pass Plus discount), Quinn £1600

Anyone else got any suggestions of other places to try that are true young driver friendly

Anihilator · 12 January 2010 at 12:39AM

£962 for a 19 YO with no claims on a 1.2 Fiat Punto only 2 years old actually seems pretty reasonable to me.

Would be expecting to pay 1k-2k

newfoundglory · 12 January 2010 at 12:48AM

Anihilator wrote: »

£962 for a 19 YO with no claims on a 1.2 Fiat Punto only 2 years old actually seems pretty reasonable to me.

Would be expecting to pay 1k-2k

I have to agree - £962 seems very cheap indeed with a £500 excess.

I'm 25 and i've had some quotes with a £3000 EXCESS!

goldspanners · 12 January 2010 at 12:56AM

martynh99 wrote: »

The £962 was with Admiral but if you want to pay monthly it works out at £1355.41 (£113.07 + 11*£112.94)

bite thier arm off.
when i was 18 and thats almost 10 years ago, for a 1.2 f reg nova it cost me £1200 with CIS. and i tried lots of companies for quotes, this was by far the cheapest.

pay it all up front with a low or no interest credit card. it will be cheaper than paying thier interest if you can't afford it all in the one go.

martynh99 · 12 January 2010 at 1:01AM

Anihilator wrote: »

£962 for a 19 YO with no claims on a 1.2 Fiat Punto only 2 years old actually seems pretty reasonable to me.

Would be expecting to pay 1k-2k

The £962 price is if you pay it in one go today - if you want to pay it monthly as most people do, they add on another £400, seems really excessive that does.

gordikin · 12 January 2010 at 1:03AM

You could try the Insurance forum perhaps?

gordikin · 12 January 2010 at 1:12AM

OP BTW under a grand for under 20 is good!

neilmcl · 12 January 2010 at 1:28AM

I've no experience of this but how much could he save if your lad took an advanced driving test or Passplus as well as following some of the other tips such as only driving lows miles (say less than 5,000 per year), not driving at night etc.

Pew_Pew_Pew_Lasers! · 12 January 2010 at 1:31AM

neilmcl wrote: »

I've no experience of this but how much could he save if your lad took an advanced driving test as well as following some of the other tips such as only driving lows miles (say less than 5,000 per year), not driving at night etc.

Groups like the IAM won't take such inexperienced and young drivers. Not to mention that most insurance companies that offer a discount for advanced drivers are more expensive than other insurers.

Its extremely annoying.

mark5 · 12 January 2010 at 1:48AM

I was paying similar money to goldspanner on a G plate Nova in 1997.

OP I think your missing the point with the value of the car your son is driving, the insurance companies are more worried about the damage he could do to other road users, hence the cost of insurance for him. £962 is actually a decent quote for a 19 year old, I've got friends aged 30+ with full NCD paying higher premiums.

I drove like an idiot at times aged 17-22 and I wasnt in the minority. The local beach front was a no go area after dark it was like Fast and Furious but with Nova's and Fiesta's.

On the plus side 1 years NCD gives 30% discount so next year shouldnt hurt as much.

iceze · 12 January 2010 at 2:08AM

Seems like ridiculously good quote considering age, length of licence and no claims. Would have expected the cheapest quotes to be around 1.5k.

Ridiculous insurance quotes.

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