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How long before car insurance fees go down?

(15 Posts)
Nolim Sat 31-Jan-15 16:49:35

I got my driver's license less than 2 years ago. My car insurance is extremely expensive! Talking to other drivers i realize they pay a fraction of what i pay.

In your experience MN posters how many years do i have to wait before the cost of insurance becomes reasonable?

Floralnomad Sat 31-Jan-15 16:53:04

2 years post passing his test my DS was able to get reasonably priced insurance with a reasonable excess .

Fluffycloudland77 Sat 31-Jan-15 18:01:46

Are you using named drivers to reduce it or cashback sites?.

I put dh on mine and it brings the bill down.

Another good tip I learnt on here was to search for insurance using incognito or hidden browsing on google. Otherwise they check the cookies & adapt the quotes to what they quoted previously.

ivykaty44 Sat 31-Jan-15 18:05:16

It is done in age bands so 25, then 35. I got insured on my birthday one year at 34 it was £300 more expensive than a week later on my birthday do I delayed getting the car by a week for s big saving.

Floralnomad Sat 31-Jan-15 18:59:11

I don't think it's done strictly on age my DS was only 21 when he was getting good quotes .

Nolim Sun 01-Feb-15 08:48:18

Thank you all for your responses. I guess i just have to wait and look forward to my next birthday.

Fluffy yes we do have named drivers and it helped a lot, before the cost was even more. I dont see the logic though. Insuring 2 people is cheaper than insuring one? I guess it makes the car a family car or whatever but it still doesnt make sense imo.

TywysogesGymraeg Sun 01-Feb-15 08:51:33

The assumption is that the named driver will be using the car a percentage of the time, so the young and expensive driver is using the car less, and therefore fewer opportunities for accidents.

MerryMo Sun 01-Feb-15 08:53:31

Insurance has its own rules! Traditionally premiums were assessed on risk and this is still the same crap they spout but womens premiums increased a few years ago - as it wasn't "fair " on the men. Boo Hoo!!

That was the last straw for me having any faith in "Risk Assessed" inurance.

You should start to see a decrease if you have no point or been involved in any accidents soon but be aware that there comes a point when you wont see a decrease or a pretty pointless one.

Nolim Sun 01-Feb-15 09:03:17

Tywy: in our case both drivers have similar age and experience, still we saw a significant decrease in price. We were actually expecting the premium to go up for adding another inexperienced driver.

Merry: thanks, we have not had acidents or claims. At this point any decrease would be appreciated.

Lonecatwithkitten Sun 01-Feb-15 09:05:38

Two drivers are cheaper than one as on a long journey you will share the driving and will be less likely to have an accident.

Fluffycloudland77 Sun 01-Feb-15 09:08:12

Do you have a parent or older sibling you can add as a named driver?.

Nolim Sun 01-Feb-15 09:55:55

Lone: ok you have a point. In our case we dont do long drives but the insurance company doesnt know that of course.

Fluffy: no that is not an option. It is just two inexperienced drivers against the system. grin

specialsubject Wed 04-Feb-15 13:08:21

unfortunately insurance is about risk assessment and inexperienced drivers crash more. Blame the little boys who hit trees and other cars so hard.

it will get better. Look at:

fully comp not third party (bizarre, isn't it?)
totally unmodified car
black box driving monitor
limit to annual mileage, if this is feasible for you.

addictedtosugar Wed 04-Feb-15 13:16:54

Don't just accept the renewal quote - search through at least one comparision site every year.
What do you drive? Type of car also makes a difference.
My insurance went down year by year til about yr 5 (aged 27 ish??), and has then stayed round the �250 mark, even going from a KA to an astra.

Nolim Wed 04-Feb-15 14:50:49

Special: i agree that it is all about risk. I have been driving for more than 10 years but in another country so for all purposes i get in the same risk category as teenagers. It is annoying but there is nothing to do about it.

Addicted: i drive a ford. 250 per year? I wish.

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