Car Insurance rip off?

chugalug

My son is 18. He drove a moped (fully insured at over 700) for a year. He then took driving lessons passed his test and took pass plus. He has driven a car for a year paying 800 for insurance - thats a lot of money!! Anyway he is now a student and I dont use my car a lot so I offered to put him on my car insurance so he could use my car sometimes. I have 9 years no claims, fully comp insurance and only drive a 1.4 Clio. The insurance co want over 1000 to put him on my insurance. Can you believe this. Neither of us has any convictions, not even a parking ticket. How can this be justified? More to the point is there anyway round this without waiting until my insurance is due for renewal next march? Any ideas gratefully received. Thanks

rhartley

It sounds to me like time to switch to another insurer.  

Has he still got his own vehicle? If so, there are insurers around who will underwrite on the basis that a much lower loading should apply where the young driver has his/her own vehicle covered on his/her own insurance policy. This recognises that they will only be an occasional user of your car.

If, however, your son no longer has his own car, and will be borrowing yours then the loading will be much higher. And if his occupation (as a student) doesn't suit the current insurer's preferred driver profile then I'm not surprised by the loading.

The problem is that insurers who are competitive (cheap even) for nice safe mature drivers are frequently less than well-disposed to young drivers. Not matter what his driving record is to date, they fear he'll mess up their underwriting results. Sadly, the statistics back up the insurers' view that young male drivers are (in general) the worst motor insurance risks.

As ever, you need to check with the existing insurer concerning mid-term cancellation penalties before you commit to cancelling.