Young drivers insurance, pulling my hair out!

niall_kay

I'm also a young driver, 19, and I've been looking in vain for cheap insurance for about 3 weeks. I have a 1.0l corsa 52 reg which is the best car in insurance terms i could get (cheaper than an older corsa). I also live in a high risk area.

My best quote is £4,407.38 from vauxhall. Here's what I did to find my cheapest (yet disgustingly high and extremely inexplicable) quote:

- Added a named driver (Mother, No claims or convictions, +12 years driving)
- Tweaked my job title to benefit
- Lowered the milage as much as i realistically could (8k per annum)
- Tried Using Pass Plus (Gave me a discount of £1.14 :eek:)
- Tried Adding Older Male driver (advised by I-Cube by phone to try male), worked out cheaper with a female

What i discovered in trying lots of different places was:

- Young Marmalade are happy to charge me over £7,000 for insurance, yet wont give me a car and insurance at a much lower cost due to my credit rating, which logically makes no sense.
- I-Kube have lost one of their insurance partners (their cheapest one) and now make it around the same price (more expensive in my case) than fully comp with standard companies
- TPF&T is more expensive due to less insurance companies giving quotes
- Third Party is more expensive same as above

Insurers I tried are:

- Go Compare
- Adrian Flux
- Compare the Market
- Aviva
- Direct Line
- Swinton
- I-Kube
- Young Marmalade
- Churchill
- Diverted to a few other brokers aswell via phone

I have had to settle for this quote as i have to travel around 90 - 120 minutes to work and the same again back using public transport, as well as working rather unsociable hours (Absolute Murder) and so i feel i have to pay this. If i worked closer to home, i'd rather buy a horse to get to work!

And just to see what happened, using a car as close as i could find to yours, using all my details the same as i used above, my cheapest quote (on go compare) is £7,627.97! My post code must really suck

To sum it up, Insurance for young drivers these days is a joke.

Fine

Dan_Smith wrote: »

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!!).

Wow you really went out of your way thank you, I was aware of this figure and even rang them up to discuss if monthly payments were in any way possible and the guy said no it has to be all in one hit. Unfortunately I just dont have and wont have the money to pay that any time soon so it has to be monthly.

I will continue to find quotes until a reasonable one appears and maybe a year will pass until that happens. I wont give up thats for sure.

Bad_Ash

Fine wrote: »

Unfortunately I just dont have and wont have the money to pay that any time soon so it has to be monthly.

Could you get a bank loan? The interest would be much less than the increase in premium.

Fine

Thanks for the idea but a bank loan just isnt ideal for me at the moment, id really just like to keep searching for a figure under £3000 than I can pay off in monthly installments.

If anyone has any luck doing so with theirselves or their sons I would appreciate any information that might allow me to get a similar quote.

Thanks.

olly300

Empty_pockets wrote: »

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.

It's not the smashing into a Ferrari that's the problem it's injuring people.

For example if you injury another car driver or pedestrian who is extremely well paid and they can't work for a couple of years they are going to go after you (via the insurance company) for loss of earnings for that time.

DD265

Unfortunately the Fiesta Ghia 5 door is a "high risk car" - or so lots of insurance companies have been telling me!

Mine has a slightly bigger engine at 1.4, but I've had a full license with pass plus since 2007 (I'm 22, female). Up until April this year I drove a Ford KA (valued at £1500, and therefore worth insuring!) and last year the insurance premium was less than £500.

Now, with the Fiesta, I managed to get £1150. There is a (bogus) claim on my account which has dragged on for over a year and apparently the way insurance companies work is "guilty until proven innocent" so I lost my no claims, but the fact that I'm no longer a student went against me too. My voluntary excess is £750 - the car is worth £500 so it wouldn't even be worth paying out £250 to get £500 back. What I want really is the third party - that alone would be about £3000.

If I were you, I'd look at buying a lower risk car. I know that the KA was counted as low risk, and I'm sure there are other similar cars that might get you a lower premium too.

ETA - up until this year, the cheapest quotes for me came through Endsleigh and the insurer was Zurich, because Endsleigh are really big on student discounts. Now that I'm no longer a student, Tesco were the cheapest.

Fine

Thank you for the reply. I appreciate the feedback but in all honesty I just dont want to change my car for the same of a £300 saving (which is what im getting when I put a much lower risk car in). It would be too much hassle selling mine and finding another.

Tesco want £4300 from me so thats out of the question, as your female and now alot older you have a definate advantage over me already. Im just going to keep looking to see if anyone can beat Admirals quote for £3200 whilst allowing monthly installments too.

Fine

Ive been trying to pass my test for the past year im so eager its impossible to explain.. I will wait if nothing comes up but like I say il keep searching

moo2moo

Do you have to have your own car? Could you become a named driver on your parents policy and share that for a year which would also give you a years no claims bonus rather than not driving at all and becoming rusty? Would a moped for a year be a viable option if you need your own form of transport?

Bad_Ash

Fine wrote: »

Thanks for the idea but a bank loan just isnt ideal for me at the moment, id really just like to keep searching for a figure under £3000 than I can pay off in monthly installments.

Sorry, I'm not sure if I made myself clear.

Most companies will offer you a lower premium if you pay the full amount up front, compared to if you pay monthly because they charge a horrendous interest rate (drivers who pay monthly can also be classed as a higher risk which is factored into the premium).

Therefore, a way around this is to take out an insurance policy which is paid completely upfront, which you fund by a bank loan.