Year 2014 -17 year old male and car insurance !!!
spk2014
Posts: 3 Newbie
In 2014 -17 YEAR OLD MALE AND CAR INSURANCE !!!
Key facts:
Car : Have found one , 1.3 Yaris manual, 9 years old, manual, parents helping to pay cost £3k
What I have found so far:
Questions – can anyone help / or which is better option ?
So angry:mad: at all this, before I pay for the University costs, I am already in debt with car insurance!!!
Pls help spk.
Key facts:
- Just tuned 17 less than a month
- Have Provisional lic and stated lessons –Manual cars.
- Some young driver insurance companies are asking for cars to be 5-6 years old, hello with the below costs where do you think I can get the money from>
Car : Have found one , 1.3 Yaris manual, 9 years old, manual, parents helping to pay cost £3k
What I have found so far:
- We can get the car now so that I can start practicing learning under provisional lic to help me become a better driver and pass the test.
- Below are the quotes I have had from various insurance companies based on car registered under my name and one or both parents as named drivers.
- 3.5k, 7k, 3.2k, 6k….all from big providers when you google all saying how good they are…
- Despite opting for insurance with the new Telematics box the prices are as above.
- Some companies have terms that they can charge more ( no % limit ) but when asked if I score the best result ( max reduction by 10% or 5% in one case ).
- Some also have terms that they will cancel insurance ---we all know what this means for the future since every single quote asks have you been refused insurance.
- Most companies have the box fitted for one year , whilst one just for 3 months that I found.
Questions – can anyone help / or which is better option ?
- Should I get insurance cover whilst I am learning ( Provisional driver ) from DofE or other suppliers, This seems a lot cheaper than some of the quotes I have had.
- Or should I take separate cover as a provisional holder and than apply for full cover with another company by applying as full lic holder once I have passed?
- The problem this raises is that the car we buy will need to change its registered owner? Will it not?
- If I take the Telemetric box insurance whilst I am learning will this not reflect bad results as I am still learning and cost me even more money after I pass?
- Why is the costs so high??? It looks like the insurance companies are abusing the system. Who actually looks at these costs and make sure they are fair?
- Should I give up driving ??
- Would I get better deals by using insurance brokers? ( have not tried any yet but if I am going to pay well over £3k I might as well shop around )
So angry:mad: at all this, before I pay for the University costs, I am already in debt with car insurance!!!
Pls help spk.
0
Comments
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Young inexperienced drivers are a bad risk hence high premiums. They are statistically likely to have significant accidents when their car has a number of their friends in it who can end up putting in high value personal injury claims.
Insurance works on the basis of segmentation and averages and unfortunately on average you are in the worst segment and have a car that is common in this market and so going to be compounding the issue.
Some standalone provisional license insurances are only there to layer on top of an existing policy and so another policy would need to be on the vehicle to cover incidents that occur when you're not driving the vehicle.
Simply go to the aggregators like confused.com and put your details in and it'll come out with the prices. You are already doing the sensible thing of adding your parents as named drivers which should help if they have good histories.
Reality is simply the premiums will be very high, if you live in a high risk area or get a car thats known to be common with young drivers (or is powerful) then you'll exponentially compound the matter.0 -
http://www.parkers.co.uk/cars/insurance/car-insurance-groups/toyota/yaris/hatchback-2006/
It looks like the Yaris will be group 6 or higher. Try comparative quotes for a group 1 car - some older C1s and Corsas fit the criteria:
http://www.parkers.co.uk/cars/insurance/car-insurance-groups/?ig=1
Short answer is it's going to be expensive whatever you do. I have a 17 year old son, best quote I could manage via confused.com was around £1400 on a group 1. We ended up paying £1600 as an additional premium to add him to one of our existing cars as he only needs occasional use. Given he's unlikely to run a car throughout university there seemed little point in him gaining 1 years NCD that would lapse before he had a chance to use it again.
<old bloke mode>
I still have the receipt for my first car from 1989: £1250. Insurance was around £450. Now it's just the other way round....0 -
You don't need to be the registered owner to insure it. Have your parents tried getting a quote with you as a named driver?
That way anyone can still supervise you but may result in the premiums being cheaper.
When I was learning to drive my instructor told me that your insurance is cheaper as a learner because there is a presumption that you will be with an experienced license holder at all times.
Also, where the vehicle is kept is going to be an issue. Has there been a fair amount of vehicle crime or burglaries resulting in cars being stolen in your area of late?
Also, unless the insurance company has a setting for the box that compensates for learners then I would steer clear0 -
You don't need to be the registered owner to insure it. Have your parents tried getting a quote with you as a named driver?
If the car is his and he is the main driver then his parents insuring him as a named driver is illegal and called fronting, if he has an accident the insurance may not pay out and cancel the policy which he would have to declare anytime he applies for insurance in the future.0 -
have you read this section
http://www.moneysavingexpert.com/car-insurance/young-drivers0 -
When my son was learning he drove my car and his insurance was only around £300 but with a fairly high excess. When it came to buying a car we did a wide variety if quotes with different cars and worked out with purchase price and insurance which was the cheapest car to insure, in the end his insurance was just over £2000 with a £800 excess, that was in a low crime area with a car kept in a garage over night.0
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http://www.parkers.co.uk/cars/insurance/car-insurance-groups/toyota/yaris/hatchback-2006/
It looks like the Yaris will be group 6 or higher. Try comparative quotes for a group 1 car - some older C1s and Corsas fit the criteria:
Certainly avoid Corsas
I dont know of any insurer that uses the Thatchams car groups. The ratings are based on the cost of repair of the vehicle, performance and security - see https://www.thatcham.org/what-we-do/group-rating for full details
What this all ignores is any trends on driving styles of owners of this type of vehicle. I know years ago I compared the prices of a 206 GTI and an SLK 250 and despite the 206 being a much lower insurance group than the SLK almost without fail the 206 was being priced higher in premiums. Reason being? 206 is predominately owned by boy racers who have a tendency to crash with a car full of mates. The SLK is owned by ladies that lunch and mid life crisis men who have much lower numbers of crashes and dont have 4 mates that put in a PI claim when they do.
To get cheap premiums the ABI/ Thatcham groups is a very basic guide, what you are really looking for is a low group car that your typical 19 year old wouldnt be seen dead driving.0 -
InsideInsurance wrote: »Certainly avoid Corsas
.
Not my experience. Corsa insurance is (relatively) cheap.
Not as cheap as an ancient Volvo estate would be, but our 18-year old doesn't want to drive that.0 -
Clifford_Pope wrote: »Not my experience. Corsa insurance is (relatively) cheap.
Not as cheap as an ancient Volvo estate would be, but our 18-year old doesn't want to drive that.
Which is exactly why the volvo would be cheaper - as would most other vehicles that they/ their mates wouldnt want to drive
Ultimately depends on the exact mark of the vehicle not just the model and what the recent trends have been. Certainly not that many years ago old corsas were a common car for teenagers and their premiums were high, particular those with bodykits etc.
Dont know many in the 17-22 age range these days so not sure what the cool kids are into.
You saw it happen with Saxo's when Citroen did their first run of 2 years free insurance with only the VTS (GTI) having any restrictions on it and that was only age - coincidently when I was also in the young driver age range. Direct Line got hammered on that deal as they priced assuming the demographics would remain the same but when you could get a brand new car for £5k with circa £4k of free insurance thrown in it was a no brainer and 12-18 month later the insurance for Saxo's had gone through the roof.0 -
InsideInsurance wrote: »
Dont know many in the 17-22 age range these days so not sure what the cool kids are into.
Try some of these.... http://www.barryboys.co.uk/phpBB2/viewtopic.php?f=1&t=39331
This weeks nominations.... http://www.barryboys.co.uk/phpBB2/viewtopic.php?f=11&t=39667Censorship Reigns Supreme in Troll City...0
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