Car Insurance Quotes...Unrealistic!?

TheMissus

Looking for a quote with my BF as the policy holder. 27yrs old, full license, driving for 10 years, no convictions, no claims. Cheapest quote we can find for a 1 litre engine is £3700 a year. That's with a £500 excess and using less than 2000 miles per year.

This is completely unrealistic, how can anyone on an average wage afford that?!

Anyone know of any cheap insurance places?

jackieb

My son is 27, drives a Honda Type-R. Clean licence for 10 years. Two litre engine. 10000 miles a year and he's added his 22yo GF onto his policy so it went up by about £300, but he's still just over £700. He's with Elephant.

Could it be the area you live in? Does he have no claims bonus?

TheMissus

Not sure about the no claims bonus as he's been driving a motorbike for the last few years. We're in Liverpool so could be the area. Elephant just quoted me £1800 which is better but still expensive.

forgotmyname

Its because he doesnt have any NCB. Some 1L cars are fairly expensive to insure.

Seems a little bit steep though, As above postcode maybe, I was expecting £3000. Which would be
about right these days.

brownie4583

Try Equity Red Star,they are the cheapest for me,including guaranteed courtesy car etc

dunstonh

This is completely unrealistic, how can anyone on an average wage afford that?!

Clearly, something in the situation is (or are if more than one thing) being classed as high risk. You havent given us all of the details. So, we cannot say what it is. However, occupation, prosecutions, claims history and/or location are very common things which could create a significant increase. You eliminate some of those but not all. 10 years no claims and a clean licence indicates occupation or location could well be where the damage is.

InsideInsurance

A maximum NCD can be as much as a 70% discount so by having no NCD the premiums are going to seem very high (something like 80% of people have maximum NCD)

Has he stopped riding the motorbike or not? If he has then some insurers do allow you to move your bike NCD to your car.

Your ultra low mileage will also possibly be having a negative impact, whilst low mileage generally is lower premiums with many insurers there is a point when it starts increasing again because of the lack of experience you are getting

mozidur

InsideInsurance wrote: »

Your ultra low mileage will also possibly be having a negative impact, whilst low mileage generally is lower premiums with many insurers there is a point when it starts increasing again because of the lack of experience you are getting

Wow, Thanks InsideInsurance, I never knew that had an impact of certain Quotes.

InsideInsurance

All insurers have their own rating systems and so not all insurers may take the same view but there are certainly some that will apply a slightly higher premium to ultra low mileage -v- around 5,000 miles pa. If their systems were better then they could factor in the other vehicles question but many insurers engines are aging and creating more complex decision trees is challenging and causes significant increases in system demands.

gumtree246

OK i just can not believe what i see Quote for car insurance as follows

working it would cost me £344.52 from endsleigh
AND
unemployed it would cost me £870.02 from endsligh

I would have to pay a massive £525.50 extra for being unemployed, well, think about it, if your going to put a man or woman down then do it right the first time, seems to me insurance company's are doing it right first time.

lisyloo

if your going to put a man or woman down

This is not about putting people down or making moral judgements or anything like that.
It's about assesing the risk.
Insurers often work on claims statistics, so if the stats says people of a certain gender, age, job, postcode etc. are higher risk they are charged more.
It's as simple as that.

We could make speculative guesses as to why unemployed people generally might have more claims.
Perhaps commuters get good pratice at driving regularly.
Perhaps some unemployed people make fraudulent claims due to financial pressures.
That's just guessing but regardless of the reasons, they work off the numbers and a higher premium indicates high risk which indicates unemployed people make more claims.

Nothing to do with putting any one down, just simple experience and mathematics.