Ridiculous insurance quotes.

catflea

withabix wrote: »

Why? BISL is Budget Insurance. Nothing wrong with them.

Trust me, I know EXACTLY who they are and having been a customer of theirs my opinion is that if you are thinking of taking a policy with them then you should;

1. Go out and find a barge pole
2. Decide barge pole is not long enough and throw away
3. Find an even longer barge pole
4. Repeat Step 2
5. Repeat Step 3
6. Not touch BISL with it

If anyone wants details, feel free to PM me

jaydeeuk1

I didn't start earning my own no claims until I was 25. Insurance in my own name was about £2000 for the car I had, and so decided I would share car with my mum and she went was main driver with me as named, saving £1400 that year. I did this for the next 7 or 8 years until I reached 25. I probably saved about £4000. But would I have been better off building my no claims?

Based on my current car.
For my car (I'm 28) with 3 years no claims my insurance is £280
If I was 25 with 0 no claims, by best insurance quote is £493
If I was 25 with 7 years no claims, my best quote is £290

So by the age of 25, I would 'save' £293 (and possibly the year before) on that years insurance but would have spent probably £3500 + more. And that saving of £293 would decrease over time too. No wonder fronting is so popular. Would I ever reach a point where building my own claims from 18 would out gain when I started at 25? Probably not.

DaveMacD

Don't forget that some companies have a NCD accelerator scheme, where you get a years NCD for 10 months cover. Just be aware that it's not always possible to switch the NCD between other insurers.

iamana1ias

martynh99 wrote: »

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.

No, they give a discount of around 10% for one off payment by credit card or you can have no discount plus an interest charge to pay monthly.

pompeyrich

DaveMacD wrote: »

Don't forget that some companies have a NCD accelerator scheme, where you get a years NCD for 10 months cover. Just be aware that it's not always possible to switch the NCD between other insurers.

Accelerator schemes usually cost more and you have to buy 2 policies as a 17/18/whatever year old, so you dont benefit from being that bit older at renewal. You really need t get the calculator out.

gaz_jones

martynh99 wrote: »

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

Your lads car may only be worth a few grand, but the convoy of Ferrari's he crashes into will be worth a fair chunk more!

Obviously that's a worst case scenario, but easily doable. I had someone hit into my old car. His car looked fine other than a dent, my car looked bad but not too bad. Damage to my car was £5400, damage to his was £7000. It all very quickly adds up.

I think under the £1k mark is really good. When I was 18 I paid £1200 for my 1 litre mini for a year. As soon as he gets to 21 it should shoot down though.

withabix

catflea wrote: »

Trust me, I know EXACTLY who they are and having been a customer of theirs my opinion is that if you are thinking of taking a policy with them then you should;

1. Go out and find a barge pole
2. Decide barge pole is not long enough and throw away
3. Find an even longer barge pole
4. Repeat Step 2
5. Repeat Step 3
6. Not touch BISL with it

If anyone wants details, feel free to PM me

Never had a problem with them.

withabix

dacouch wrote: »

BISL and Equity Red Star, great companies...not

You might as well just say:

<insert name of insurance company>, great companies...not

catflea

withabix wrote: »

Never had a problem with them.

Thats where we differ then!

martynh99

rev_henry wrote: »

Pinkneon, I'm guessing you're female, therein lies the difference. OP you can do better than that with Admiral. Ring them up and tell them your son's been a named driver on another policy for a year and they'll give you a years NCD which will probably bring it down to £800 ish. Then, if possible, put ALL your household cars on the Admiral MultiCar policy, which takes 10% off the price for EACH car.
I'm with admiral, 18 YO male, paying £750.

Interesting but did try that, they weren't interested about the year he spent on my policy.

Their multicar policy doesn't work for us at all - we have one other car currently which costs the wife about £350 a year to insure. If we go to multicar policy with admiral the combined cost was over £3k :eek: and that was with just me and the missus on her car and all three on the other one.