Car Insurance - does the cost go down as you get older?

ed89

Hi

I am currently entertaining the idea of learning to drive as now and again I need to attend meetings with work.

I'm 21. I'm not looking to buy a car.

What I want to know is - At the moment I am getting quotes of about £1100 for car insurance. If I learn to drive, and rent a car when I need one, when I am say, 24 or 25 and may want to buy a car, is this quote going to be roughly the same, or will it be lower due to my age, despite not having ever insured a car before?

cheers

olly300

Insurance goes down once you are over 25 - but you are still pay a higher premium than if you had your own car earlier because you won't have built up any no claims.

Though you have to remember your premium also depends on your gender, the postcode you live in , the car you drive, what job you do, whether you are married and whether you have children.

JimmyTheWig

I have a feeling that the discount you get for being over 25 is only applicable once you have been driving for a year.
I don't think it's dependent on how long you've been insured for. (That helps, independently, due to no claims discount.)

Try it out for yourself. In the comparison website change your date of birth and see what it says.

bouncydog1

You are unlikely to be able to rent a car straight after passing your test as many rental companies require you to have held a full licence for at least a year and be over 21 - some you have to be older.

Bear in mind that the insurance may also be cheaper whilst you are learning to drive as you are less of a risk (accompanied by an experienced driver etc).

You also need to factor in that insurance rates may rise so by the time you are 25 they might not be any cheaper.

olly300

JimmyTheWig wrote: »

I have a feeling that the discount you get for being over 25 is only applicable once you have been driving for a year.
I don't think it's dependent on how long you've been insured for. (That helps, independently, due to no claims discount.)

Lots of insurance companies add on an additional excess depending on age. So for example you have to pay an extra £300 if you are under 21 and an extra £200 if you are under 25 on top of your excess. That's if they will insure you in the first place.

Quote

It's all pie in the sky.

lisyloo

Yes age is a factor, but as others have said there are loads of other factors too - gender, postcode, claims, convictions, experience, job, mileage, value etc.

If you dont' drive then you'll lack any experience.

We also cannot predict insurers pricing models in 5 years time (although it's still likely that age and experience will be factors).

I would advise you to price up a car including
depreciation (actual cost of buying it spread over x years)
tax
insurance
mot
servicing
repairs
breakdown policy
fuel
parking
penalties/fine (this is voluntary)

the compare it with the costs of alternative transport.
I don't have a car and I am pretty sure of a couple of things

1) When you add up all the costs involved, cars are expnesive.
2) Many people have an emotional attachment to their cars and don't want to giev them up or do this exercise.
3) If you can get public transport or walk/bicycle some of the time, the you can fund taxis some of the time too for when that's more convenient.