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I am not but car insurance companies are being VU!

(44 Posts)
t0lk13n Sun 07-Oct-12 15:33:04

My 17 yr old is learning to drive and will sit his theory test v soon. I started to look at insurance prices. What an absolute joke and a rip off! How do people afford it. I will cost me more to insure him per month than I pay for the whole year for my insurance....I only have a 1.2 Hyundai! Insurance companies make a bomb!
I am lucky that both of us work but I am not sure that that price is affordable! I have heard horror stories but didn`t realise I would be one of them!

SugarPasteMonkey Fri 12-Oct-12 18:53:11

Message withdrawn at poster's request.

SugarPasteMonkey Fri 12-Oct-12 18:51:14

Message withdrawn at poster's request.

kekouan Fri 12-Oct-12 08:33:28

Agree with whoever said it was cheaper when they added more people to the insurance. My insurance was expensive, but went down when I added experienced drivers as named drivers on my insurance (not a swizz, they did drive my car very occasionally) and at one point I had 5 extra drivers on, and it lowered the cost! grin

Might be worth looking in to?

financialwizard Fri 12-Oct-12 08:21:12

I am 35. My husband is forces and we have just moved back to the UK from overseas. We have both been driving about 18 years. He has had points and I have had an accident in the last 2 years. We bought a Volvo s60. I got quotes that varied between £1,200 with a 3k excess to £600 with a £250 excess. To me it makes NO sense whatsoever.

SugarPasteMonkey Thu 11-Oct-12 19:17:06

Message withdrawn at poster's request.

littlemisssarcastic Thu 11-Oct-12 10:09:38

FWIW I think DS is a good driver, but he wouldn't share his car with me either.

littlemisssarcastic Thu 11-Oct-12 10:03:58

Same reason as I don't want my mother (who's been driving over 25 years) or my sister (who's been driving 23 years) driving my car. confused

It's my car and I don't want to share. Is that wrong?

mollymole Thu 11-Oct-12 09:47:39

'I don't really want DS driving my car around, especially not just yet'

Why ?? Don't you think he is safe to drive it ? Perhaps this is what the insurance companies think too.

littlemisssarcastic Thu 11-Oct-12 09:40:10

That's a good idea about putting a young new driver on my policy as an additional driver, but for me, I don't really want DS driving my car around, especially not just yet, plus if I put him on my insurance, wouldn't it be me who is liable for the extra premium?

elvis100 Thu 11-Oct-12 07:12:34

Car insurance at his age can be very expensive, but there are a few things you can do to save money. For instance, listing him as a driver on your policy. Now that might increase your rates, but it will still be a lot cheaper than getting him individual insurance. Now for affordable car insurance, I’d advise you to shop around for insurance rates, ask companies about the discounts they offer young drivers and then settle on one. Discounts are offered for being a good student, installing security and anti-theft devices to your car and enrolling in a defensive driver’s class. Look into it.

littlemisssarcastic Wed 10-Oct-12 22:29:39


"That's why the black box technology is a good idea - helping to reward responsible drivers. "

When the black box is fitted, the insurance premium tends to be lower, before the driver has even got into the car and driven it yet. After 3 months, if the driver has been a good driver, they continue to pay the same premiums, whereas if they have driven badly, they can have a further 10% added to their premium. After a further 3 months, the good driver still pays the same amount, while the bad driver can have another 10% increase on his premium, and same again after 9 months.

This means that if by having the black box fitted, your premium is reduced from £4500 to £3000 per year, and you pay installments monthly over 10 months of £300 a month...a bad driver will pay £300 a month for 3 months, then £330 a month for 3 months, then £363 for 3 months and finally £399.30 per month for the remaining 3 months...hence the year has cost the bad driver just over £4k.

This is a punitive measure against bad drivers, not a reward for good driving, and imo, reward tends to encourage better driving more than the fear of punishment.

SugarPasteMonkey Wed 10-Oct-12 19:12:52

Message withdrawn at poster's request.

borninastorm Wed 10-Oct-12 11:36:12

I found co-op young drives with the box the cheapest for my ds and it made it cheaper when he put me, my dh and his grandad on the policy as named drivers. Also having a high voluntary excess helps lower the premium.

Whatever insurance you take out make sure you take out legal cover and/uninsured loss cover (this isn't expensive), but it covers the cost of your excess if an accident isn't your fault. We learned this to our detriment and thus had to launch a personal injury claim to get the excess back.

Good luck with insurance for young drivers it's s minefield that I like to call the great insurance swindle grin

littlemisssarcastic Wed 10-Oct-12 11:29:18

When DS (21) passed his test, earlier this year, the only way he could get insurance that he could afford was to go fully comprehensive, with myself as additional driver and he has had to have the black box fitted to his car.
He also has to adhere to certain restrictions.

His insurance is close to the 3K mark!! shock

I know many young people who have given up taking lessons altogether, or who pass their test, then can't afford to drive. sad
Where I am, only about a quarter of young people I know of take driving lessons and then go on to actually drive a car after passing their test, and that number is falling every year.

I'm not sure how this bodes for the future.

frantic51 Tue 09-Oct-12 20:54:49

I managed to get my DS onto my insurance quite reasonably when he passed his test last February. DD1 was already a named driver on the policy and both she and her brother were included as learner drivers at no additional cost until they passed their tests. Having said that, I have deliberately down graded to a 1.1 litre Suzuki Alto until all three DCs have passed their tests and had a couple of years experience. (Trying to persuade DD2, just turned 17 to get her licence sorted pdq, but she is nervous of driving) I am with Quinn.

CMOTDibbler Mon 08-Oct-12 19:37:54

Insurers pay out in claims as much as they take in premiums for under 21's. Alas, young drivers have high speed accidents with other young people in the car, and the cost for them suffering a permanent injury is then based on damage over the next 50 or more years.

deleted203 Mon 08-Oct-12 19:32:25

But seriously, how does any young driver afford the kinds of premiums insurance companies want? When I passed my test at 17 my dad added me to their insurance and then I bought my first car at 19 because I needed it for work. I know I'm going back many, many years but my insurance was £250 and I earned £82 a roughly 3 weeks wages for a year's insurance. My son at 18 has just got a job 100 miles away from home and does actually need transport to get to work. He is bringing home about £800 a month and has to pay rent/bills/food on that. How the hell is he supposed to manage insurance for car on top?

SugarPasteMonkey Mon 08-Oct-12 19:26:04

Message withdrawn at poster's request.

GreenShadow Mon 08-Oct-12 13:49:07

California We went with Elephant last time.
Think Aviva are good and Admiral.

The price comparison sites will bring up those best for young people if you feed in all your details.

CaliforniaLeaving Sun 07-Oct-12 22:03:11

GreenShadow Who are the cheap companies for young people insurance?
I emailed Ds the link to pass plus and told him to talk to the Driving instructor about it. He can already drive from learning here, he drove to High school for the last two years but needs practice driving on the other side of the road and we have no roundabouts here.

GreenShadow Sun 07-Oct-12 20:29:30

Pass Plus is a bit of a con (from the insurance point of view anyway).

DS1 did it and I think it was actually useful and worth doing, but didn't mean we could get a discount on insurance. You may get discounts if you are paying over the odds in the first place, but not from the cheap companies who specialise in young people's insurance.

Tuttutitlookslikerain Sun 07-Oct-12 19:47:57

I don't know about discounts for pass plus, California, but we're going to getDS1 to do it. There are some insurance companies that let them build up a no claims, just by being a named driver. I think Direct Line is one of them.

DS1 was reluctant to learn at first, but I am disabled and DH is Forces so goes away , so I really need someone else who can do a bit of the running around. I am luck in a way, as I have the option of adding DS to my Motability car, so he can do errands for me. He wants to join the Army, so a full. Driving license will come in handy and it is easier to Learn now while he has the time, than when he has a full time job!

CaliforniaLeaving Sun 07-Oct-12 19:08:20

What kind of discount do they get for passing the Pass Plus scheme? Anyone know.
My one Ds is 24 and his insurance was horrendous until last week when he bought himself a new car, smaller engine, he needs it to see clients out and about so no choice but to pay.
Other Ds (18) is taking lessons with an instructor in UK now, he was driving in US since 15.5 years with no claims and it doesn't count, so when he gets his UK license he'll have high ins. He needs his full license for his career choice too. Debating between Ambulance service or Police.

hatesponge Sun 07-Oct-12 18:12:29

It's the cost of claims which is to blame for the high cost of premiums.

The average personal injury claim settles for around £5k. That's the average of course. Also it doesn't include the cost of repairs/hire which can be the same again, or more.

Young people unfortunately have more accidents, and the accidents they have are more serious/attract higher levels of compensation - often because they will have 3/4 people in the car with them.

mellen Sun 07-Oct-12 18:01:15

" I do wonder the extortionate prices as some quotes for certain cars are more than the worth of the car."

Its not so much about the cost of the car, it is the cost of compensating people for injury.

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