Young drivers insurance, pulling my hair out!

Chorlie

joeman wrote: »

is it possible to value the car at £0.00 ? wonder if thats possible??, and if so, if it reduced the premium.

Afterall if it saves you £600 off the annual insurance premium you can buy a new car with the savings in the unlikly event that your car is stolen/written off.....
just an idea... no clue if it will work!! (or is this just the same as insuring "third party only"?)

That makes very little difference, if you hit an Aston Martin DB9 in a car that cost £600 or £20,000 the cost of repairing the DB9 or replacing it will be the same, that how the insurance company views it.

The price you value your car will be the max you get if your car is a right off, so if you under value it you'll get that (or maybe a percentage of the value) but if you over value it you'll get the market value (if lucky)

Trying phoning up swintons and see what they find and with who, then phone them direct.

Fine

Im sorry but these boxes and tracking devices are out of the question for me I like my independance this would be horrible..

Again thanks for all your replies im almost completely out of options now its either pay the £4000 or dont drive.

Quentin

If you don't drive for a year you'll save lots more than £4000! You could use plenty of taxis for that amount!

Fine

Apparently not if i say im a year older its still around £3000

Just called Churchill they want £10,000. LOL!

Empty_pockets

They've got you over a barrel.

I understand young drivers are a greater risk but I don't belive the risk warrants the grossly overinflated prices. Yes, you could smash into a brand new Ferrari...but in reality, thats pretty unlikely.

I stand by what I said. i think you would find far more youngsters 'going legal' if they capped it at say £2000 TPO. Still exessive but encourages people in the right direction.

I bet if it wasn't a legal neccessity those premiums for new drivers would soon drop.

pompeyrich

Empty_pockets wrote: »

I understand young drivers are a greater risk but I don't belive the risk warrants the grossly overinflated prices. Yes, you could smash into a brand new Ferrari...but in reality, thats pretty unlikely.

Well my son managed to crash, his pretty ordinary car, into the back of another pretty ordinary car, wrote both cars off and with the "obligatory" whiplash claim and no doubt an inflated car hire element from the 3rd party. The total claim was settled at around 15K.

My point is that even though extreme cases are often used to help illustrate why the value of the insured car is not relevant to a claim total, even a relatively minor shunt can soon mount up.

Dan_Smith

Fine wrote: »

Ive tried everything you mentioned and still admiral give me the cheapest at 4k but wont allow monthly payments, really stuck now.

I did a dummy quote with your details (age, sex ,area (RM1 1NX) , car type, etc) and with Admiral if you:

- Go for Third party or Third party fire and theft
- Low mileage (under 5000k a year)
- Leave your mum down as a named driver
- Add on a second mature driver name driver, such as dad, grand parent or someone mature (much older than you) you know.
- Go for a 10 month bonus accelerator policy

Then it drops to under the £3,100 mark.

Problem is you have to pay this in one go, or you lose the discount for paying in monthly installments (which could rise back up to £4000!!).

You can get £30 cashback when you take out a Admiral car policy on quidco too.

If you are prepared to wait a year (with same details but that you've had a licence 1 year+ with no NCD) then it drops to under £1500 (again you have to pay this in one go). Maybe you would be better off waiting and saving up for this until next year (as the drop in price for having a licence for just 1 year is quite large potential £1500 saving!!).

Empty_pockets

True, costs can be extremely high....but not every young driver has an accident.

In the examples the OP has given there were several companies looking to charge £10,000.

2/3rd of the 15K before you even factor in the excess!

In my case...which i'm not proud of but will use as an example. I paid out circa £400 inculding court fine, costs, redoing my test, couple of lessons and running around in taxis until it was all sorted.

The insurance which I had been paying (basically until the bank said no more money) was in the reigon of £1500.

It's not right, but thats the way it is. We all know on this site folks that play the system often end up better off than those that play by the rules.

Empty_pockets

Should add I hope the OP finds a reasonable quote and is able to drive legally.

I maybe shouldn't have supported driving without so quickly....meant more to say I can understand why people don't bother.

mikey72

pompeyrich wrote: »

Well my son managed to crash, his pretty ordinary car, into the back of another pretty ordinary car, wrote both cars off and with the "obligatory" whiplash claim and no doubt an inflated car hire element from the 3rd party. The total claim was settled at around 15K.

My point is that even though extreme cases are often used to help illustrate why the value of the insured car is not relevant to a claim total, even a relatively minor shunt can soon mount up.

The point as well though, he's may be more likely to do that than me, but he isn't 20 times more likely, or even 10, let alone 50 times by Churchills premium.
As has been said, if it wasn't compulsory, it wouldn't be anywhere near as much. Also, just telling 17 year olds, "hard luck, we're ok, just stuck it up or get a taxi" isn't going to solve it, as has been said, and if they decide just not to bother, it's just a good excuse to justify the next increase for the ones that do pay. And that does include us.