Young male, luxury car, how to get insurance down?

Gordon_Hose

At 20 and wanting to drive a BMW, I'll be surprised if many insurers will touch you.

You could try putting a female named driver on your policy, your Mum maybe? Adding my missus to mine brought it down a bit, but then I'm a lot older than you so it may not work like that for younger drivers.

JimmyTheWig

swbrua wrote: »

I think the best way to ask this is: does the value of the car previously insured affect future claims? Do they check anything besides your age, gender and no claims?

Your past history of cars is not taken into account.
[This has been shown not to be true for specialist insurers by fivetide, who sounds like he knowns more about it than me.]
So the best plan would be to buy a car that's cheap to insure for a good few years before buying one that's expensive to insure.

I presume you've tried price comparison websites for the insurance. If for some reason they're no good for you, have you tried Admiral for a quote? They were good for me when younger (older than you, mind) with a large-engined estate.

As suggested, check out Pass Plus.
Try adding an older, experienced driver as an additional driver of the car if there is anyone who you would let drive it. Make sure you are the policyholder, though, rather than the other way around.

slyracoon

swbrua wrote: »

I guess I'll get a second hand cheap vehicle then! Is that £300/month or £300/year?

£300 per year. I'm now 23 and thats with 5 years no claims and no accidents.

My first year was £2200 for a Peugeot 106 so it has dropped considerably once I'd gained experience and no claims.

I've never had anything I would consider luxury though, I currently have a 1.8 Nissan Almera which is about 8 years old.

Gloomendoom

If you aren't going to drive much, why not try one of those pay as you drive schemes where you get a black box fitted to your car and just pay per mile. I don't know the details but a quick Google should bring results.

As an aside, if you do buy a powerful car, some lessons on how to drive it properly might be a good investment. In Australia basic third party insurance is included for any driver when you buy a tax disc. This sounds good but it means teens can buy and legally drive a V8 banger for £500. Unfortunately, too many remove themselves and their mates from the gene pool.

This happened in Perth yesterday. Two lads clipped a kerb and then hit a palm tree at 120mph. The car was cut in two. Both died.

Lessbutbetter

swbrua wrote: »

As I said in my post, if £10,000 is the only amount I'm going to be able to pay I'll do it, but I don't want to spend that much.

Go you!! That's money well spent. :T

Gordon_Hose

Maybe the OP should add a signature to his posts...

"Considerably richer than YOW!"

Gothicfairy

I am female and a lot older then you..well at least 15 years older (and we will leave it at that) I have owned Audi's, BMW's etc and always been able to find fully comp for under £500 a year but then I started out with a £200 Triumph Acclaim and built up my NCB, my first insurance on that car was £400 so more then the car was worth and that was many many years ago.
Nothing has changed, as a new driver no insurance company is going to trust you with a cheap policy. Your options are limited to build up ncb or suck up the 10 grand and get what you want now.

I will also add though that when I was 17 I was told my insurance would go down once I hit 18, it didn't.. I was then told that the new magic age was 21 and again that was rubbish and nothing much changed. Insurance is like tax, it always hurts and rarely goes down in the end..it is just all swings and roundabouts.

Oh and as a final point..I can insure a Audi A4 for £300 now but a ford fiesta 1.2 was quoted at £750..go figure.

967stuart

Just get an old banger for a few years, i will come down in time, the only way to get it down is to have it for years and not claim on it.

Gordon_Hose

Gothicfairy wrote: »

Oh and as a final point..I can insure a Audi A4 for £300 now but a ford fiesta 1.2 was quoted at £750..go figure.

Little chav barryboys don't drive Audi's. They stove badly modified 1.2 Fiesta's into walls at (relatively) high speed.

Gothicfairy

Gordon_Hose wrote: »

Little chav barryboys don't drive Audi's. They stove badly modified 1.2 Fiesta's into walls at (relatively) high speed.

Good point..odd isn't it ? When I was young I wanted something posh and fast but wanted to keep it posh and fast now it seems to be fast but couldn't care less how long it lasts. More money then sense :eek:

god I really am getting old