Short-term car insurance for learner

MrE_Street

Hi, I initially posted this on the Insurance and Life Assurance board but nobody there seemed to be able to help me:

I have a car that I am the owner of and want to know the most cost effective way to insure it. I hope to pass my test in less than 2 weeks, but would also like to be able to drive it in the mean time as practice.

The cheapest policy I can get as a provisional driver is £488, however with that same insurer as a fully qualified driver it would cost me 2.5 times that. In contrast, the cheapest policy as a qualified driver for me would be just over £700, but the same company charges £800 as a provisional driver.

Should I learn on the cheaper insurance and then cancel, perhaps paying in installments rather than up front? Or should I go with the company that will charge less after I pass, but are they likely to drop my premium to the lower price after I do so?

InsideInsurance

Paying by installments only means you've had a loan for the premium and doesnt make it a "monthly" policy or such. On the basis it normally adds very high interest rates and sometimes and additional cancellation fee from the loan company (if its not the insurer themselves) then this is rarely the most money saving approach

To work out the cheapest you need to do the maths and factor in the cancellation/ admin fees that are payable in each scenario. Clearly also need to factor in what happens if you dont pass when you expect.

Presumably you have already looked at the learner driver specialist short term policies? I know when the Mrs passed her test Aviva didnt charge anything for the update done online (either admin or additional premium) so could be one to look at unless their premiums are way out.

LandyAndy

MrE_Street wrote: »

Hi, I initially posted this on the Insurance and Life Assurance board but nobody there seemed to be able to help me:

I have a car that I am the owner of and want to know the most cost effective way to insure it. I hope to pass my test in less than 2 weeks, but would also like to be able to drive it in the mean time as practice.

The cheapest policy I can get as a provisional driver is £488, however with that same insurer as a fully qualified driver it would cost me 2.5 times that. In contrast, the cheapest policy as a qualified driver for me would be just over £700, but the same company charges £800 as a provisional driver.

Should I learn on the cheaper insurance and then cancel, perhaps paying in installments rather than up front? Or should I go with the company that will charge less after I pass I would do this, but are they likely to drop my premium to the lower price after I do so if the answer to this is yes?

Ask them. Even if you fail your first test and retake in say 8 weeks time it should still be cheaper.

robbies_gal

you would have yo ask-mine only went up 50 wit same insurer the next da when i passed

MrE_Street

Thanks for the replies, I think I will go with the company that quotes the lowest after I passed

Astronaughtwannabe

MrE_Street wrote: »

Thanks for the replies, I think I will go with the company that quotes the lowest after I passed

Before doing that, try looking at the comments from others that regret choosing insurance based on the cheapest price.


Pay more at the outset will probably save you hundreds. Look out for all the penalties if you go with a cheap insurer. Nether tend to be rapacious.