550 for car insurance?

onomatopoeia99

Section 143 of the road traffic act 1988 requires third party insurance for using a vehicle on the public road, except ...

Section 144 waives the requirement of section 143 if you deposit £500,000 with the Accountant General of the senior courts. You would still be expected to meet any claims from third parties, your liability would not be restricted to the money deposited.

Using section 144 to avoid buying insurance is not a viable option for most people. Some local authorities and other large fleet operators (e.g. the police) use or have used it.

machinor wrote: »

The car I calculate the insurance with, costs only 750! And still tells me to pay 550 for insurance!

The cost of insurance has nothing to do with the value of the insured car. The insurer is concerned about the risk of you injuring a third party and having to pay their costs. If you crash into a bus queue and hospitalize six people, the insurer could be paying out millions. £750 for your car is an irrelevance in this situation.

Passing the UK test and getting a UK licence should help reduce premiums, according to someone I know who came here to live from France.