Young drivers insurance

bouncydog1

I think that this is an excellent post by DACouch and should be made into a sticky on why young driver insurance premiums cost so much. We see several enquiries a week from individuals who can't be bothered to read through all the other posts with explanations!

mikey72

dacouch wrote: »

If european Insurers started pricing business in the UK they would charge similar premiums to what we have as the markets are completely different. France does not have a personal injury culture / industry like we have and has very little or no credit hire market.

Accident rates in France are very much lower than the UK

Well, according to eu statistics we have some of the safest roads in europe.
The french compensation has been enshrined in law, with insurers under an obligation to send a written questionnaire and make an offer of compensation within eight months from the date of the accident (and a definitive offer within 5 months after the insurer is aware of the consolidation of the victim’s injuries)

The Minister of Justice in France has established a list of “specialisations”, based on the recommendation of the Conseil national des barreaux. French lawyers may advertise to the public their “speciality” and may call themselves specialists in personal injury litigation.

So you'll forgive me if I still believe they are a profit making business, not my best friend, and maybe I'll pass on the sticky as well.

blindmouse

YAZZ wrote: »

Why do all young drivers have to be punished???? I can not get insurance for my son under 2500!!!:mad:
He has worked hard for his test and has pass plus but still he is classed as a bad driver!!! He is in school but also works part time. Yes I understand that statistacially they are more lkely to have an accident.....but we cannot class all in same box.
Why can'there be a fairer system???

example;
1;offer only 3rd party insurance. Possibly stop them buying fast expensive cars. Allow them to build up to Third party fire theft after number of clean years and further to comprehensive later on.
2; And/or put the excess up to 1000,2000
3; Have guarantors??? I'd be happy to back my son as I have every confidence in him.
Major problem now, is that these loonatic drivers are driving without insurance, and who's paying the price for that???
I know we will never stop ar**holes avoiding insurance but there HAS to be a better way.

How would this work ??

I agree with the excess if you can afford it, as long as I wasn't saddled with the debt loaded onto my insurance years down the line.

3rd party great I always thought this was available, my daughter has always been offered it.

YAZZ_2

YAZZ is my daughters name....Yazmin. And capitals as I didn't think for one second forgetting to switch off cap lock was aggressive???
Dacouch has given an amazing response, very well written and much appreciated. Shows much maturity and care for this subject. Having searched this site before posting, I could not find one question about young drivers insurance hense asking for help. Obviously hit a nerve with some people so I wish I hadn't bothered. Thanks for the constructiveness of your replies.

YAZZ_2

Oh watch out CLAPTON....they'll be after you calling you aggressive next for having your name in capitals...ha ha.

shortchanged_2

Why don't insurance companies offer a cashback on young drivers premiums?

Say for example the cost of the insurance is £2500 a year but if they go for that year without a claim they get say £1500 to £2000 pounds back. Also surely that would act as some incentive for the driver to be more careful as they would potentially get a little windfall back as a reward.

YAZZ_2

This is the kind of thing I expected from this site...coming together to try and find some kind of constructive answers for an obviously touchy subject. So THANK YOU (opps aggressive - cap lock off) shortchanged for that comment. All I want is to get my son driving as we all did at that age. He (and neither am I) aggressive people/drivers. He is a hard working student with a job and having the use of a car will help him get back and for to work. Not racing around at all hours uninsured and having the rest of us pick up the tab. All I am saying is it isn't fair that all young drivers are made to pay for the bad ones out there. There must be a better way.

tinkerbell84

YAZZ wrote: »

Having searched this site before posting, I could not find one question about young drivers insurance hense asking for help.

Really??!

https://forums.moneysavingexpert.com/discussion/2692569

https://forums.moneysavingexpert.com/discussion/2678769

https://forums.moneysavingexpert.com/discussion/2676419

https://forums.moneysavingexpert.com/discussion/2656441

https://forums.moneysavingexpert.com/discussion/2647699

https://forums.moneysavingexpert.com/discussion/2643071

https://forums.moneysavingexpert.com/discussion/2638901

https://forums.moneysavingexpert.com/discussion/2547741

https://forums.moneysavingexpert.com/discussion/2628113

https://forums.moneysavingexpert.com/discussion/2621099

https://forums.moneysavingexpert.com/discussion/2611571

https://forums.moneysavingexpert.com/discussion/2598499

Search took 0.82 seconds and these are all in the 1st 2 results pages. :rotfl:

tinkerbell84

YAZZ wrote: »

Why do all young drivers have to be punished???? I can not get insurance for my son under 2500!!!:mad:
He has worked hard for his test and has pass plus but still he is classed as a bad driver!!!

No, he's classed as an inexperienced driver. Very different and factually true.

YAZZ wrote: »

He is in school but also works part time. Yes I understand that statistacially they are more lkely to have an accident.....but we cannot class all in same box.
Why can'there be a fairer system???

So who do you decide who is statistically more likely? Based on driving experience, employment and age your son is a high risk. What else should they consider that should alter this?

YAZZ wrote: »

example;
1;offer only 3rd party insurance. Possibly stop them buying fast expensive cars. Allow them to build up to Third party fire theft after number of clean years and further to comprehensive later on.
2; And/or put the excess up to 1000,2000
3; Have guarantors??? I'd be happy to back my son as I have every confidence in him.

It's great that you have confidence, but I'm afraid it's easily misplaced. Your son simply does not have the experience to handle any potential driving situation. That puts him at a high risk of making an incorrect split-second decision that results in an accident. It's not personal, it's just life.

YAZZ_2

Thanks for help tinkerbell84...your obviously much better than I am at this.....I did a search a few time and came up with nothing. Shall have a read through these now.