car insurance for teenagers

(14 Posts)
Pacific Thu 14-Feb-13 18:37:02

I am going to repeat this thread in 'money' in the hope of getting some answers there too.

DH and DS are classic car nuts and have been offered an excellent buy for a classic car (1972 MG midget)for DS.

Stumbling block is insurance. He is only 17 and currently a learner but we are trying to get quotes for after he passes his test.

We have tried the comparison sites and are getting quotes between £1500 and £2000 ie more than the car is worth.

Does anyone have any ideas how we can keep DS on the road after passing his test at a reasonable price?

mumblechum1 Thu 14-Feb-13 18:43:57

I'm amazed that the quotes are coming in that low tbh. DS was quoted around £4 to 5k for my Ford Focus (1600) so ended up buying a banger (Corsa) for £2k and got insured through iKube for £1400 iirc, and that didn't go up when he passed.

What engine size is the midget?

Pacific Thu 14-Feb-13 18:59:11

engine size is 1275.

He is currently learning in a very small cheap modern car which only cost £600 to insure as a learner.

Haven't heard of iKube, mumblechum, will have a look.

Have a look at multicar policies.
We were in a similar position with ds1 when he passed his test..£600 as a learner than suddenly 2k quotes. I rang Admiral (as they were cheapest at £1600) and by going multicar we got it down to £1,100 for DS and mine and DHs were cheaper too..they added us when our current ones ran out. Worth a look!

Learners are cheaper to insure than new drivers - they always have a qualified driver with them, so are less likely to have an accident. The high premium is more about the possible liability for damage to someone else's car, or to people, and is only partly about the value of the car he is driving.

DS got a better deal from our current insurers, as part of a multi-car policy, than aything we could find for him on comparison sites.

goingmadinthecountry Thu 14-Feb-13 21:14:09

Sounds pretty good to me. We have an old MX5 that we insure pretty cheaply by the weekend for dd (normally drives a Micra) but sounds like your ds wants this car full time. Admiral multicar is the best we've found too.

Back in the day loads of my friends had MGs, TR7s (that ages me!) and the like. One guy even had a Porsche! Cars for young people used to be so much more fun.

IloveJudgeJudy Fri 15-Feb-13 12:42:36

Unfortunately, insurance for new, teenage drivers will almost always be more than the car is worth (not like in my day. I suspect going mad and I must be of an age!).

I haven't even dared to ask what insurance would be for our about to take his test DS when he passes.

Cremolafoam Fri 15-Feb-13 12:48:41
outtolunchagain Fri 15-Feb-13 12:54:02

Try insurethebox ,ds is with them,he has a 1.2 corsa ,his policy is limited to 6000miles pa but he is the main driver and the second year the premium halved.

Others to consider include LV and NFU

specialsubject Fri 15-Feb-13 13:14:18

that's cheap. The value of the car is not related to the damage he could do with it, which is the main risk in insuring young males.

KelleStar Fri 15-Feb-13 13:29:22

You may find going to the 'classic' insurance companies like footman James may get you a better deal. I was a 17 year old driving a 1971 triumph spitfire. It was a decade ago, but many insurance companies whacked a High premium on or didn't insure cars of that age. I had a limited mileage policy and fully comp was more reasonable that TP/TPF&T, so cover all the bases. Also see about adding you/partner to see if that brings costs down.

I had a 1968 MG BGT for a while too, but preferred the spitfire. I learned plenty about car repairs grin

Pacific Fri 15-Feb-13 20:19:37

Thank you all. I didn't get back to the computer last night to reply. Footman James wont insure young drivers other than in a Morris Minor but I will try All the other suggestions.

Thank you again

amumthatcares Sat 16-Feb-13 12:41:37

Much the same as has been said already really...smaller engine, smaller premium. Learner drivers cheaper that qualified etc. When DD insured her car in Nov 2011, the cheapest way we found to do it was to put both DH and I as named drivers (it was cheaper with both of us than just one). She has a 1100 car and managed to get her first year for £900 (just through a comparison site) and when she renewed in Nov last year with one year NCB, she got it for about £825. Having said that, she was very lucky that her renewal fell just before the EU equality ruling...we will see what this year brings!

TooMuchWashing Sat 16-Feb-13 12:55:15

You need to go through a classic car insurer. My 21 year old son has a 1970 beetle and pays £500 a year. Insurance is in his name.

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