Help - car insurance for young new driver!

manicmidget99

My daughter (19 yrs old) passed her test 7 months ago and is wanting to get a small car.

Insurance is obviously very expensive and we have been looking at quotes in the region of £240 per month!! (For a £500 car!)

Anyway she would be able to pay monthly installments but not pay annually and the interest for monthly payments is around 30% on most of the policies we looked at.

She doesn't currently have a credit card (I assume she would be accepted to get one? - student with part time job) so was wondering if it would be cheaper to get a credit card with low interest and pay that off instead over the year??

Any advice on good insurance companies for young drivers or credit very much appreciated!

Thank you.

forgotmyname

As long as she pays off at least 1/12th + interest each month and doesnt use it to buy anything else.

I think 1st time CC and 19 years old and part time work only. Will be lucky to get a card for more than a few hundred £.

bouncydog1

Have a look at the young driver threads. All young drivers have different profiles and your postcode is likely to play a significant factor in rate charged.

Before she buys her car you should speak to a reputable motor broker and ask them for advice. Also try Cos that don't feature in the online aggregators.

Also just remember the value of the car has little bearing unless it is hugely expensive - it is the risk of the life changing injuries to third parties, that can be caused by an inexperienced driver that relates to the biggest part of the insurance quote.

Newly qualified drivers have the most accidents so insurers charge them higher premiums.

natnhay

Hi my 17yr daughter passed her test in March this year.We did all the comparison sites and finally went with Diamond.Paid in full 10mth accelerator policy (gives her 1 yr ncb).Vauxhall corsa 1ltr y reg her vol excess is £500 and comp excess is £250 car is prob worth £1000 ish,we also added her dad and aunt as named drivers which reduced quote by about £1000.The cost of her insurance was £1330 which included legal cover.Try ringing them after you found your quote often they will reduce quote over the phone as well.She is the owner of the car and main driver/policy holder. HTH

SailorSam

I feel so sorry for young people these days, they're priced out of getting on the housing ladder and struggle financially to get that first car.

kylestucon

manicmidget99 wrote: »

My daughter (19 yrs old) passed her test 7 months ago and is wanting to get a small car.

Insurance is obviously very expensive and we have been looking at quotes in the region of £240 per month!! (For a £500 car!)

Anyway she would be able to pay monthly installments but not pay annually and the interest for monthly payments is around 30% on most of the policies we looked at.

She doesn't currently have a credit card (I assume she would be accepted to get one? - student with part time job) so was wondering if it would be cheaper to get a credit card with low interest and pay that off instead over the year??

Any advice on good insurance companies for young drivers or credit very much appreciated!

Thank you.

try www.crosbyinsurance.co.uk just insured my 20yr old son with them £2818 £563.20 deposit and 10 payments at £268.21 a month so not a lot of interest our cheapest quote by far, and boys are a lot more expensive than girls. The are a local newcastle based broker but i dont know if they have branches elsewhere. I just rang them and my situation was quite complicated,(see my earlier post in insurance section) Good Luck!

highjinx_2

manicmidget99 wrote: »

My daughter (19 yrs old) passed her test 7 months ago and is wanting to get a small car.

Insurance is obviously very expensive and we have been looking at quotes in the region of £240 per month!! (For a £500 car!)

Anyway she would be able to pay monthly installments but not pay annually and the interest for monthly payments is around 30% on most of the policies we looked at.

She doesn't currently have a credit card (I assume she would be accepted to get one? - student with part time job) so was wondering if it would be cheaper to get a credit card with low interest and pay that off instead over the year??

Any advice on good insurance companies for young drivers or credit very much appreciated!

Thank you.

One option is to get a 'telematics' policy, where they fit a tracking box to your car to make sure a) you drive sensibly and b) you can get the car back if it is stolen. If you're thinking of getting a tracking box put in your car as part of your insurance then do this before you buy: use the Intelligent Marmalade app (they're a broker). You use the app on your iphone and it will give you a driving score to show if you're a good driver. If it gives you a good score then they give you up to a 40% discount on insurance and you'll know it is worth buying. The app's free btw

Morph4610

Hi, well worth calling some of the specialists as some of the deals are only available if you call them. Try Crowthorne, A Plan, Thames City and Only Young Drivers

mikey72

highjinx wrote: »

One option is to get a 'telematics' policy, where they fit a tracking box to your car to make sure a) you drive sensibly and b) you can get the car back if it is stolen. If you're thinking of getting a tracking box put in your car as part of your insurance then do this before you buy: use the Intelligent Marmalade app (they're a broker). You use the app on your iphone and it will give you a driving score to show if you're a good driver. If it gives you a good score then they give you up to a 40% discount on insurance and you'll know it is worth buying. The app's free btw

Sounds a nightmare From the Marmalade website, it's all stick and no carrot. -"You should be aware that we will use the data from the Ingenium Dynamics device which will be fitted to your car to score your journeys. If a journey falls into the red zone we will notify you and you can check out website to see where you can improve your driving. If you do drive badly, we will initially increase your premium to reflect this risk (initially by £250, then by £500), See full details of how the system works.If this continues we will cancel the policy. You should note that it would be very difficult for a younger driver to find an alternative insurance company in this event."