Can someone who works in insurance explain this

[JustAnotherDayWorkingAtHome]

My daughter has just passed her driving test. I want to add her as a named driver on my 1 litre 9 year old polo. My insurer has quoted me £6,300 to add her to my policy (that is 3rd party)...what the hell? I knew it would be expensive but was thinking maybe £2k tops...another friend got a policy on similar car for her DD as named driver for £1800. Even go compare and compare the market are saying £4,500. Can someone explain what might be the reason for the much higher price than my friend.

you might get a a better deal going fully comp tbh., double check. It depends on the cost to replace your car, likely hood of a crash at her age (is it a model/car that’s involved in a lot of incidents), area you live in. How often they drive it. It’s all variables. But a complete mystery

So fully comp was £6900 and again over £4K on compare the market. The car is prob worth £5k I know it's more to do with damage you cause someone else but this feels there must be some factor throwing this out.

How old is she? DD1's quotes dropped drastically once she'd had her licence for more than 6 months even without driving.

Fully comp is cheaper. How much milage is in the quote, where car stored in garage is cheaper.

Try Compare the Market with a policy start date in a month's time. Waiting a bit after they pass helps.

I found adding DS to my existing policy would have been about £5k but starting again on a comparison site did bring up some cheaper options. We got cover for about £1.5k with a black box from Hastings.

Try looking up which insurance group the car is in.

https://www.comparethemarket.com/car-insurance/group-checker/?AFFCLIE=IP58&SRC=IP58&cmpid=PC--GOG--PC--GEN--jwaH2bHGg74znO8&gad_source=1&gclid=CjwKCAjwps-zBhAiEiwALwsVYVhw68QWfTJlIIa_ZJht8_KrX_u367lsxTP7R_w7Tjpp-IO5mojtNhoCbw8QAvD_BwE&gclsrc=aw.ds

Try comparing to a corsa or other group 1.

Also goes on your postcode

Age / location (down to your postcode!) / job titles / employment status / car storage etc can all have an impact on insurance.

When we re did our insurance last year (after an accident) the broker we spoke to was fab and explained that even something like both my husband and myself being in chartered professions made insurance cheaper as we would be banded as low risk professions, which was interesting as I'd not heard of it before!

What engine size is it?
What's her occupation?

Age location, of you have had previous claims, if their car is more built in safety features than yours

Is your friend's car newer? I got several quotes for a 10 year old 1 litre engine car when I started driving again and they were thousands of pounds. When I put in a brand new 1 litre car it was less than half the price. It actually worked out cheaper to get a new car on PCP compared to buying and insuring an old car.

Exactly what previous posters have said.

They aggregate data for the make/model of the car, driver’s age/how many years driving experience they’ve got/ address, and look at the combined likelihood of an accident/claim/theft based on historical data for all of the above.

I remember years back when I was looking to buy my first car, I assumed something little like a Micra or a Saxo would have been cheap to insure, with their small engines etc but my quotations were through the roof.

In the end I bought a 2.4L, and my insurance was over 2k less.

My dd found that fiddling with the occupation helped. Barista was more expensive than retail worker when she never worked after dark as a barista (the shop was in a park that shut before sunset) but could be working overnight in retail.

I’m guessing that your friend’s car is newer.

Try a black box policy. We worked out a policy for an ex boyfriends son, and it was cheaper to get the black box policy but pay the 'fines' for driving after 10pm (or whatever time) on X amount of occasions before it equally the price of the non-black-box policy.

DS has a pay as you go policy with Marmalade. He buys 500 miles at a time. He rarely uses it so they last about 3-4 months. After 12 months it counts as a year no claims.

It's an independent policy and does not impact mine it helps makes a claim