Insurance for young 'uns

[Jordan T]

Hi, (First time Poster, long time reader)

 

I'm 19 and passed my test last week, and almost every insurance company have refused to insure me on my 1968 Triumph Vitesse.

However, one quoted £7000, hahahahaha

 

However, i have been quoted £1400 for classic cover for either a Triumph Dolomite 1500 fully comp, 4000 mile limit. So its not completely doom and gloom.

 

Jordan

[Captain Slow]

I live in the lower part of the city centre, just behind the Leadmill.

 

We should arrange a local meet with Tone, Claypole and anyone else from around the area sometime in the new year!

 

 

Christ, that's good for rail connections then! Didn't know there was anywhere to live round there.

 

 

And yes, we should. PM me about it if there is though - I don't get on here very often so might miss it!

[Luxobarges_Are_Us]

Still cheaper here than holland and germany that i know off,so is road tax and petrol.

 

Petrol's about the same price in most EU countries with a couple of odd exceptions (e.g. Luxembourg).

 

Insurance isn't more expensive in Germany than here. Case in point.

 

The problem comes when i asked my broker for a quotation he stated that it was not possible to have both cars on one contract and that i would have to have a second contract for the the second car and that for me the second contract would be at 140% or around 1200euro or so. The first car contract for me is at 45% currently (with my daughter on it as well!) and is considerably less than what is quoted for the second car contract, so I fail to see how this can possibly be correct.

 

140% means a premium without any NCD applied (the poster has another car where their NCD resides). Irrespective of your driving record and type of car, good luck with finding a (non-classic, non-trade) UK policy for £1000 without NCD!

 

Neither is it in Holland:

"Over the past five years, the average premium for a car insurance have just dropped by 17 percent from 311 to 257 euro per year."

http://www.chinatimes.nl/en/news/the-ne ... 6-09-39-13

 

 

 

Vectra: quite easy to steal.

Corsa B: can be opened with a slice of bacon and started with a paracetemol.

Astra: Better security.

 

Why does that matter on cars where the excess is more than the value?

[Cavcraft]

God knows, probably because they're so steal-able and therefore the grief the insurance company cop when they do adds weighting.

[Luxobarges_Are_Us]

I live in the lower part of the city centre, just behind the Leadmill.

 

We should arrange a local meet with Tone, Claypole and anyone else from around the area sometime in the new year!

 

 

Christ, that's good for rail connections then! Didn't know there was anywhere to live round there.

 

 

And yes, we should. PM me about it if there is though - I don't get on here very often so might miss it!

 

Believe it or not, I've been living here for seven months and only used the train once, and that was in order to travel to Peterborough to pick up a car!

 

I'd love to travel by train, at least to London and Manchester where the service is good, but the city council fascists prevent me from doing it (stupid parking restrictions mean that I need to move the car once a day).

 

Will be keeping you posted when a meet-up is arranged!

[Captain Slow]

I live in the lower part of the city centre, just behind the Leadmill.

 

We should arrange a local meet with Tone, Claypole and anyone else from around the area sometime in the new year!

 

 

Christ, that's good for rail connections then! Didn't know there was anywhere to live round there.

 

 

And yes, we should. PM me about it if there is though - I don't get on here very often so might miss it!

 

Believe it or not, I've been living here for seven months and only used the train once, and that was in order to travel to Peterborough to pick up a car!

 

I'd love to travel by train, at least to London and Manchester where the service is good, but the city council fascists prevent me from doing it (stupid parking restrictions mean that I need to move the car once a day).

 

Will be keeping you posted when a meet-up is arranged!

 

 

 

What is it you run, then?

 

And that rule is a bit crap - you might be better moving out of the centre if you can find somewhere.

[dollywobbler]

Seeing as I was getting quotes of £1100 a year to insure a Mk2 Fiesta Popular in 1995, I don't think sub-£2000 quotes are too bad really. Yes, it's horrifically expensive but then young drivers do have a habit of crashing rather a lot. I know I did, not that I ever claimed...

 

Adding parents as named drivers (in addition, NOT the main driver scam) can bring it down, or just the mother. When I was 21, I found my insurance dropped when I added my 23yo girlfriend to the policy! Mileage limits are another option, as is opting for a huge excess. A chap on BX Club has been looking into cars for his daughter and found that smaller cars still come in much cheaper. Cheapest quote he got was for a Seat Marbella, which is Autoshite Gold.

[M'coli]

Believe it or not, I've been living here for seven months

That short? It seems like so much longer!

[Luxobarges_Are_Us]

Seeing as I was getting quotes of £1100 a year to insure a Mk2 Fiesta Popular in 1995, I don't think sub-£2000 quotes are too bad really. Yes, it's horrifically expensive but then young drivers do have a habit of crashing rather a lot. I know I did, not that I ever claimed...

 

I don't necessarily disagree with that, but there is no rhyme or reason to the insurance industry. The way premia are calculate is almost completely random, with risk factors cancelling out one another, and I am sure there are bunches of people who underpay as well as the legions who are getting ripped off.

 

 

[Apologies to everyone for the OT. ]

 

What is it you run, then?

And that rule is a bit crap - you might be better moving out of the centre if you can find somewhere.

 

LPG Scorpio. I will probably end up moving elsewhere when/if I find a job - I'm looking all over the country.

 

 

That short? It seems like so much longer!

 

Tell me about it, I am slowly but surely losing the will to live...

[fiatdaft]

Petrol at the aral station in germany was 1.72 per litre i used a few months ago,have friends in holland and germany and they confirm that road tax,insuranceis more expensivea trawl over cars and possible parts buys are have shown over the last few years have also show that it is cheaper here.

[Luxobarges_Are_Us]

I agree that cars and parts are cheaper here- used cars here are artificially cheap as they subsidised by the outdated tax legislation that depreciates cars at 3-4 years. GR3 use of legislation and public money.

 

1.72 Euros is 143p with today's exchange rate. That's about 5-6% more than the price here, i.e. pretty much the same.

 

I have friends everywhere, too, but TEH INTERNETZ make it easy to avoid hearsay and focus on real data such as average premia, such as the link I posted to the Sino-Dutch paper, or this book that mentions prices dropping to an average of under 500 Euros in Germany. The rough equivalent UK figure is £921 according to the AA.

[fiatdaft]

Yeah just like i said,fuel,cars,parts,insurance and tax etc is cheaper here.

[Luxobarges_Are_Us]

Yeah just like i said,fuel,cars,parts,insurance and tax etc is cheaper here.

 

Carry on believing that.

 

Only cars and parts are cheaper, and that's because we are paying for them through tax/corporate expenditure that is wasted on brand new Mondeos every other year instead of being invested in something that actually adds value.

[fiatdaft]

Aye nae bother.

[tonedepear]

Sheffield is hardly the capital of car crime

 

It was just 5 short years ago!

 

http://www.mirror.co.uk/news/top-stories/2006/09/25/sheffield-top-of-car-crime-league-115875-17813104/

[Bren]

It's a load of old bollocks that the cost of insurance is down to young drivers having too much in the way of minerals and not enough talent - when I started driving in the late 1980's the MK2 essy was the weapon of choice and many of my mates crashed multiple times - into the scenery and into each other - yet they never got priced off the road the way the young are now.

 

I have just purchased this months practical sportsbikes, inside there is a section covering a specific year, this month it was 1986. A gallon of petrol was £1.89, in today's money that is £4.21.

 

 

People need to wake up and smell the coffee - WE ARE BEING ABSOLOUTELY DICKED by corporations and conglomerates whose sole aim is too make as much money as possible.We are still paying the price for years of credit that is now drying up, the greedy feckers make those who can pay pay MORE. Remember when the previous government was in power? Because of easy credit and the law of supply and demand, the cost of everything went UP.

 

My dad was the victim of a hit and run a couple of years back - driver stopped but fucked off after going into the back of him. Dad rang his insurers to let him know thinking he was doing the right thing. They told him even if he did'nt claim, his premium would go up due to the incident. Not surprisingly, my dad said if that was the case, then he would claim anyway.Which he did.

 

 

Yesterday I did something I hav'nt done in a long time - I got the bus into town. Not cheap, but I did'nt have to pay for parking and I was'nt stuck in traffic.

 

I'll do it again.

[gtd2000]

Still cheaper here than holland and germany that i know off,so is road tax and petrol.

 

Definitely the case in Germany as well as Austria.

 

I have two friends that run UK registered, taxed and insured cars due to the cost savings.

 

In the case of the Austrian he would pay the same amount per month for road tax and/or insurance as he pays per year in the UK. Or at least that's what he tells me.

 

In Holland/NL road tax also varies by the the fuel type - an Astra 1.6L petrol was around 160 Euro per year but choose a diesel or LPG variant and be shocked at the increase in taxation. I'm sure the LPG was 2000 Euro per year (from memory). Perhaps one of our NL members can confirm?

[Craig the Princess]

It's a load of old bollocks that the cost of insurance is down to young drivers having too much in the way of minerals and not enough talent - when I started driving in the late 1980's the MK2 essy was the weapon of choice and many of my mates crashed multiple times - into the scenery and into each other - yet they never got priced off the road the way the young are now.

 

True, but how many of them stuck whiplash claims in? Or had a big hire car for weeks on end?

[garycox]

I'd like to join in with insurance moans but actually I've been pretty lucky somehow and mine's alwas been fairly reasonable.

 

I started driving in 2004 when I was 18, first car I insured was a 1989 Mini Mayfair 998cc, paid £550 for the car, cost about £800 to insure. I crashed that after 6 months (my fault) and replaced it with a £195 1990 Metro Clubman 998cc, which cost about fifty quid more to insure. When the renewal came through, it was around the same price despite the claim...

 

Since then I've had loads of stuff from a Mazda 121 to Transits and a 2.6 Auto Carlton estate, and my insurance remained between £600 and £900 ish for each, I've never paid over £1000.

 

When I turned 25, the first thing I did was to sell the Astra diesel that cost me £600 a year to insure and replaced it with the AS calendar star Allegro, that cost £200 to buy and £97 to insure. The Maestro costs £98 a year for insurance, and I've just been quoted £85 a year for the Mini.

 

All these are based at my parent's address in DA5, which according to that site is an 'E*'.

[Shep Shepherd]

Same here. I've never paid more than £900 for insurance, which must be down to the fact that I've never lived anywhere massively dodgy, have always owned 'low risk' cars, have no points on my driving licence and have never made a claim. I currently pay £150 per year for The Volvo and £550 per year for TV2.

[Mr Lobster]

True, but how many of them stuck whiplash claims in? Or had a big hire car for weeks on end?

 

^ This

 

The reason insurance is expensive is down to the fact that after a none fault accident virtually everyone now claims for 'injuries' gets a replacement car through some sort of credit hire deal which costs an arm and a leg, solicitors and the legal profession wang in as mean fees as possible so a typical claim for a minor bump will be well into five figures. Unfortunately for younger drivers they are a lot more likely to crash so end up paying a lot more. Sort out the claims culture and the credit hire stuff and that would help get premiums down.

 

Incidentally, when I worked for a certain Scottish motor group that shall not be mentioned we rented out Micras for about £25/day. If that same car went out on a credit hire we billed it out for about £90/day. And most credit hires where normally three weeks long. Fantastic income but morally not right.

[Pete-M]

The problem with credit hire is that, bizarrely, the insurance companies set the premiums at mentally high rates. Hire companies merely charge the rate the insurance tells them they can charge.

 

If the insurance companies used their heads, they could halve the daily rate even if they supplied the cars themselves.

[CortinaDave]

Premiums really have shot up - but then can you blame the insurance companies ? I paid 640 in 1997 on a 1600 mk1 sierra which in retrospect was a bargain- but being that I was 18 - I drove it like a complete knob and it had more hits than the Beatles when I'd finished with it.

[DSdriver]

True, but how many of them stuck whiplash claims in? Or had a big hire car for weeks on end?

 

^ This

 

The reason insurance is expensive is down to the fact that after a none fault accident virtually everyone now claims for 'injuries' gets a replacement car through some sort of credit hire deal which costs an arm and a leg, solicitors and the legal profession wang in as mean fees as possible so a typical claim for a minor bump will be well into five figures. Unfortunately for younger drivers they are a lot more likely to crash so end up paying a lot more. Sort out the claims culture and the credit hire stuff and that would help get premiums down.

 

Incidentally, when I worked for a certain Scottish motor group that shall not be mentioned we rented out Micras for about £25/day. If that same car went out on a credit hire we billed it out for about £90/day. And most credit hires where normally three weeks long. Fantastic income but morally not right.

 

Another reason is that insurance companies get megaclaims when someone paralyses an american brain surgeon and they have to stump up thirty years loss of earnings etc. That can run into millions.

A teenager wrecking a Corsa is not an expensive problem unless he runs into said surgeon who is on holiday over here.

 

There was a story going around when I was younger about an old boy in France, paying a pittance for insurance on his old car which broke down on a level crossing. The car was struck by an express train that derailed and destroyed a dam which flooded a valley. Everyone's premiums went up.

[bigstraight6]

Thanks for all the replies on this post, it goes to show that my dear old dad's observation that 'insurance' is just legalised crime is absolutely right! Not much we can do about it though

[Quintus]

Passed my test in February 1999 and I paid £899 for a year's fully comp insurance on a 1993 Micra later that year. That seems like a Lidl-esque bargain compared to insurance nowadays.

 

Many insurance companies pay very good dividends. I wonder why...

[HillmanImp]

I've never paid more than £900 for insurance

 

That's crackers. £900. What % of your annual income is that just to drive a car? I have sacked off the modern insurance for classic now anyhow as refused to pay £590 for the Scenic.

 

Blokes should come down a bit next December anyhow whilst women's will go up with the insurance equalisation but at the same time men's annuities will go down whilst women's will go up slightly.*

 

* this is only subject the outside possibility that there is still an European Union in 12 months time

[Cavcraft]

If we're getting 'absolutely dicked' in fuel prices then successive governments are to blame for that. I'm sure the big players in oil game aren't going to be crying themselves to sleep over their profits of course, but it's the government whacking the duty on the fuel that's the killer.

 

Anyhow I'll report back soon with insurance costs for kids as I need to get a quote for my lad (18) on a 1.0 litre car. This should be fun

[Skizzer]

Many insurance companies pay very good dividends. I wonder why...

 

Because car insurance doesn't earn any money...

 

Sorry to bust an urban myth, but the insurance companies really aren't making much out of motor business. Aviva is the biggest by some distance and their operating profit margin on general insurance is 4% (of which motor will be the majority though probably the least profitable). Admiral reckons itself to be one of the most profitable, and it made about a 6% margin on motor insurance in the first half of 2011. Earning a crust of 4-6% is hardly OMG CAPITALIST SCUM DICKING US OVER. (And no I don't work for an insurance company, although I do know a bit about the insurance industry.)

 

Craig, Mr Lobster and others are right - it's the claims payouts for hire cars and personal injuries that are the problem. Edited to add: Plus, if you dinged the car in front at 10mph in a Mk3 Escort or Astra you could fix it with a crowbar* and at worst a polyurethane bumper, but the current top selling family cars are BMW 3ers and Audi A4s with all kinds of expensively breakable shit like airbag sensors, parking radar, temperature sensors, xenon lights and deformable structures that gently caress cyclists legs when they ride out in front of you.

 

(Hides under desk, awaits flames)

[warren t claim]

What really makes my shit itch is the adverts that always start with the line "Paying over £250 for your car insurance......?"

 

OF COURSE I FUCKING AM!!!!