About to turn 25, should I wait to renew car insurance?

AquaLagoon

Hi,

I am about to turn 25 but have to renew my car insurance 4 days before my birthday.

I have heard a rumour that car insurance can be cheaper for 25's and overs due to the statistics relating to likelihood of accident, more experience etc. Is this true?

If so, I am contempating leaving my car uninsured for 4 days between the end of my existing policy and my birthday and just using public transport for those days. The cost of buses/trains to work and back would be approx £100 for those 4/5 days so would this be worth it i.e. am I likely to make that saving on my renewal if I am 25 vs. 24 years old?

Finally, I also heard that if the insurance is interrupted i.e. it is not continous from one policy to the next, any renewal saving is negated due the gap between policies.

As an aside, I have made a claim during the current policy of around £2300 so have lost any no claims bonus and so I am expecting the premium to rise as a result. Does this affect any of the above?

Any help appreciated. Thanks in advance.

spugzbunny

Why don't you go on one of the 'compare' sites and type in all your details with your actual DOB and then try again with a 'modified' DOB to see if it comes out cheaper?

warehouse

I believe this is complete nonsense. However, it's easy to find out.

Put your current details into an insurance quote system, then do the same again with a slightly different birth date making you 25. If you find any difference I'll be shocked.

warehouse

spugzbunny wrote: »

Why don't you go on one of the 'compare' sites and type in all your details with your actual DOB and then try again with a 'modified' DOB to see if it comes out cheaper?

Great minds and all that :beer:

Quentin

AquaLagoon wrote: »

I have heard a rumour that car insurance can be cheaper for 25's and overs due to the statistics relating to likelihood of accident, more experience etc. Is this true?

The "advantage" in being over 25 is that should you need to claim you don't have to pay the extra compulsory "young" driver's excess, which usually applies to under 25s at the time of the claim (ie not at the time the policy is taken out).

Cbanks86

I have recently had a crash, I will have to pay both the voluntary and compulsory excess totalling £450.00. The crash happened a week before my 24th birthday, and is not yet sorted. When it comes to paying out the excess would there be any way of arguing against the additional £200.00 under 24 excess.

I know its just my luck that this happened, but as it is not sorted would there be anyway for them to overlook this. Or would it be form inccident date.

On my policy a young driver is 24 and under?

Give it a go?

Cat

tamarto

Cbanks86 wrote: »

I have recently had a crash, I will have to pay both the voluntary and compulsory excess totalling £450.00. The crash happened a week before my 24th birthday, and is not yet sorted. When it comes to paying out the excess would there be any way of arguing against the additional £200.00 under 24 excess.

I know its just my luck that this happened, but as it is not sorted would there be anyway for them to overlook this. Or would it be form inccident date.

On my policy a young driver is 24 and under?

Give it a go?

Cat

If on your policy a young driver is 24 and under, that is the same as under 25, also you'd have had a year and a week untill you no longer qualify.

If you ment it's under 24 then it's worth a go but as you were under 24 at the time of the accident i doubt they'll do much other than say pay up.

Quentin

If it was as easy as you suggest everyone would wait till after their birthday to pick up their repaired car!