Great 'Young drivers car insurance savings' Hunt
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Former_MSE_Penelope
536 posts
Great 'Young drivers car insurance savings' Hunt
The average car insurance for 17-22 males is £2,750 and £1,682 for females (and the latter's likely to rise soon - EU ruling). We've lots of tips in the cheap car insurance guide but even so it's rarely cheap. Have you ever (legally) cracked it, cutting young drivers' premiums to a reasonable level? Tell us your successes, to help other MoneySavers.
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1. Use an Admiral Multicar policy, shared with my mother for her car.
2. Got them to give me a year's NCB for my 1st year's named driving experience (hence the 2 years already, but the proof of no claims they gave me gives no mention of this and just says 2 years
3. Add my mother as a named driver, and, bizarrely, my OH who is 18 and on a provisional.
What the insurance companies don't tell you when agreeing to take your cash, is that in the event of an accident there will be a detailed investigation by a fraud detection company. I was asked copies of my log book my licence my mot, my son's licence, my husband's licence and both myself and my son had to have a detailed telephone interview (which I've been told by people is some form of lie-detector). Even though it is my car and I already had the same policy for a long time, I feel like I've been treated like a criminal. These questions should be asked before agreeing to insure someone, not as a result of trying to legitimately claim on a policy.
Parents - if you do this, make sure you don't sign the car over and make sure you are the main driver, otherwise what you will get is MoreThan a lot of hassle, and you are left having to prove that you have a right to claim, MoreThan ever.
When we took the policy out, it actually was £20 less than originally quoted!
We were advised against putting her on our multi-car policy as it was too expensive.
It's due for renewal this month actually....
A 17-20 year old, prepared to drive no more than 3000 miles a year, can get fully comp under this scheme for under £451 (£318 for third party fire & theft). The excess is £350.
This is because kitcars tend to have been lovingly hand-built by the owners, sometimes over many years. So they're not the types to risk bending them; the premiums reflect this!
I'd have loved to get insured in a convertible at 17 and there's no cheaper way to do it. Older kitcars come in far cheaper secondhand than 'normal' cars and, if you get one with a good reputation, are often stronger/safer as they're over-engineered.
It's actually cheaper for me to insure my convertible kitcar, with a 2 litre engine (v quick!) than it is to insure my 'normal' Citroen 1.4 diesel!
It's got me as the main driver, my partner who is 23 on it and my mum who is 62 on the policy. She doesn't drive the car, but has got a full license and used to drive (plus the option is there if we ever needed her to drive it). I changed our occupations as they were listed as other things and I found more suitable options and then phoned admiral with my elephant quote reference (cheapest I found online), they were going to price match elephant as it's one of the companies they price match (but for £12 more I got a courtesy car from admiral so actually stuck with them), but overall was about £633 for the year fully comp and with a courtesy car.
It just pays to shop around and check the occupations and information that's already on your policy (i followed the steps on the guide on the MSE website).
I also then paid for the year straight up with a 0% credit card as it meant I had 10 months to pay it off monthly (like i would've done paying to admiral), but without the interest. Saved a lot of money doing it this way, just make sure you pay the credit card in full before the 0% offer is up