Cant get my son a loan or reasonable car insurance!

paula554

My brother knows someone (aged 20) with a vintage Morris Minor, and I remember him saying the insurance on classic cars is very low even for young drivers. He said his was under £400.

Must have been pricey to get through its MOT though.

cabbage

Hi

My daughter is 17 and just passed her test. Insurance quotes ranged from £6500 (aviva) to £2400 (ikube). In the end went for ingenie.com at just under £3000. Both the latter have black boxes but there are less restrictions with ingenie.com. She's one saving for pass plus. Our local council's safety partnership offer £60 towards pass plus if she attends an evening class on road safety.

It's no wonder there are so many drivers without car insurance.

BugsyBrowne

paula554 wrote: »

My brother knows someone (aged 20) with a vintage Morris Minor, and I remember him saying the insurance on classic cars is very low even for young drivers. He said his was under £400.

Must have been pricey to get through its MOT though.

A decent working Morris minor with Tax exempt 3k with insurance say £500. Total £3500.

A decent working ford fiesta 1.0l 10 years old around £500 off gumtree with insurance 3k Total £3500.

Its difficult to try and compensate on savings as in reality its no cheaper.

[Deleted User]

BugsyBrowne wrote: »

A decent working Morris minor with Tax exempt 3k with insurance say £500. Total £3500.

A decent working ford fiesta 1.0l 10 years old around £500 off gumtree with insurance 3k Total £3500.

Its difficult to try and compensate on savings as in reality its no cheaper.

TRUE, but you of course have something worth 3K, does that not increase over time, as long as you keep the car in good condition.

Buzby

Mfox2012 wrote: »

Hi i work for Aviva and sadly insurance is majorly high for young drivers. Few points to help you out, do not add him to yours as a named driver as this is manual fronting is against the law and will stop payouts in the even of an accident, so no point. Secondly he will earn no NCD at all so therefore waste of time, when he then goes to get a quote in a few years still will be high as he has no NCD)

If you do work for Aviva, you'll know that adding a named driver is not a precursor to fronting. I have ever heard such an irresponsible statement. Named drivers are there for a reason, to permit them to drive a vehicle belonging to the insured. It additionally gives them an ability to be 'seen' by an insurer in advance of them getting their own policy, and in some cases permit an introductory discount.

pc1271

tberry6686 wrote: »

It's not age discrimination. It is statistics which is how all insurance is priced.

If you stop insurers from usage age statistics as a factor how do you suggest that they price insurance.

Gender has been removed with the result that young female drivers have had large hikes and young male drivers small decreases.

It is discrimination if they are charging more for something the individual has no control over. If statistics show that black people tend to have more accidents or inflated claims, should they charge more for all black people?

It's the reason why sex discrimiation was ruled illegal - it's based on something that the individual can't control. Nothing wrong with assessing risk based on experience (which is not necessarily age), job, skills (as measured by a black box), etc as these factors relate to the individual and the choices they make.

Mozette

paula554 wrote: »

My brother knows someone (aged 20) with a vintage Morris Minor, and I remember him saying the insurance on classic cars is very low even for young drivers. He said his was under £400.

Must have been pricey to get through its MOT though.

Unfortunately, as I found to my cost, classic car insurance doesn't 'count' towards a no claims discount should you then go on to having a run of the mill car.
So you're sort of back to square one, except of course being older, you don't get so heavily penalised for your age.

tberry6686

It is discrimination if they are charging more for something the individual has no control over. If statistics show that black people tend to have more accidents or inflated claims, should they charge more for all black people?

It's the reason why sex discrimiation was ruled illegal - it's based on something that the individual can't control. Nothing wrong with assessing risk based on experience (which is not necessarily age), job, skills (as measured by a black box), etc as these factors relate to the individual and the choices they make.

Then how would you suggest that insurance companies assess the risk of someone, can't use gender, can't use age, new driver with no experience how do you assess that risk.
Insurance companies know that new drivers are far more likely to have an accident than someone with 5 years driving experience hence no claims discount. remove age from the statistice and all that will happen is that insurance companies will refuse to quote for drivers with zero no claims therefore preventing new drivers getting on the road at all.

Vikipollard

It should be based on length of driving history, and what is in that history itself.

That negates all of the diversity umbrella strands and acknowledges that the 30-year old who has just passed their driving test also has no experience of solo driving just the same as the 17-year old does.

It should be compulsory to have the black box for all anyway. I agree that statistically, the under 25 age group may well have a greater number of recorded accidents. However, the business people who drive aggressively up my a*se because they don't think they should have to sit behind someone doing 70mph in a 70mph zone and then race up behind someone else and slam the brakes on again would have to pay proportionately more as well for their pathetic driving 'style'.

pc1271

tberry6686 wrote: »

Then how would you suggest that insurance companies assess the risk of someone, can't use gender, can't use age, new driver with no experience how do you assess that risk.
Insurance companies know that new drivers are far more likely to have an accident than someone with 5 years driving experience hence no claims discount. remove age from the statistice and all that will happen is that insurance companies will refuse to quote for drivers with zero no claims therefore preventing new drivers getting on the road at all.

Did you even read my post? I said they could use driving experience, which is not the same as age. Experience can be built up as a named driver before getting your own car and policy. They could use a black box to assess risky driving style.