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New Driver Car Insurance


Paul
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Advice needed please everyone.

 

Basically junior passed his test yesterday and the already expensive car insurance we were paying for him as a learner has now leapt to an impossible two grand a year at first glance. He turns 18 in three weeks and I know that will help a tiny bit, but can you all give me some advice on how to keep him driving at the least extortionate price possible please? We want to add him to his mum's Skoda Fabia and are prepared to do a black box deal, but the whole thing seems like a mine field as I've spent hours online this morning and basically not got very far.

 

Can anyone help please? Cheers.

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It's one of those daft anomalies. As a young driver, the more experience you can get, the better you will be and the less likely it is you'll be involved in a prang. Not unlikely, but less likely. Trouble is, the cost of insurance for a young driver is so prohibitive that your options are

 

- to pay a whacking great premium to enable them to drive and build up experience

- not insure them due to cost so they can't drive therefore don't build up experience

- not insure them to drive but let them drive anyway while chancing it with the law

 

Each option is ridiculously expensive in its own way. Pay no attention to Billy Bullshitters who claim they added their young uns to their policy for a pittance. Like with a lot of things, they've paid out a fortune but don't want to admit it.

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Guest Pistonbroke
10 minutes ago, Trumo said:

It's one of those daft anomalies. As a young driver, the more experience you can get, the better you will be and the less likely it is you'll be involved in a prang. Not unlikely, but less likely. Trouble is, the cost of insurance for a young driver is so prohibitive that your options are

 

- to pay a whacking great premium to enable them to drive and build up experience

- not insure them due to cost so they can't drive therefore don't build up experience

- not insure them to drive but let them drive anyway while chancing it with the law

 

Each option is ridiculously expensive in its own way. Pay no attention to Billy Bullshitters who claim they added their young uns to their policy for a pittance. Like with a lot of things, they've paid out a fortune but don't want to admit it.

 

Unless you live in a different country. Insurance is still expensive if you want your kids to have their own policy, but you can add them to your own which isn't that extortionate. Then when they turn 23 they can take their own out at a fraction of the cost compared to them having their own policy from the off. Added our daughter to my policy and it worked out at about an extra 150€ for every quarter and obviously dropped with every years experience she gained. Before turning 23 and getting her own policy it was about 120€ for the quarter. Obviously things will differ in other countries. 

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1 minute ago, sir roger said:

What PB says is right but they aren't building up any No Claims if you do that , I don't think.

 

Some 7 years ago when my daughter passed but Tesco were best and they weren't on comparison websites.

 

A lot of insurers nowadays will offer some sort of no claims discount on the first policy if you've been claim free as a named driver for a number of years.

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Guest Pistonbroke

How do things work in the UK as far as car insurance goes?

 

Over here there are 3 main factors. No claims bonus/Age and make and Model of your car. 

 

Obviously you have little influence over the first two factors other than being a good driver. However, you can have a massive influence on the third factor. 

 

People just go out and buy a car with a smallish engine size and less HP and think that they will save money on insurance, unfortunately it is a lot more complicated than that. 

 

Insurance companies have different factors, even for the smaller makes and models. They factor in how many accidents each make and model have been involved in, regardless of age and no claims. Another factor is the amount of times said make and model is involved with theft and other minor claims. This is then included in how they work out X% for Third party and again X% for fully comp, they then fall under brackets from 10-25. 

 

Roughly:

10-14 being the best and cheapest.

15-17 moderate

18-21 expensive

21-25.....only if you are well off or you want to live off cheese and Toast but have a Porsche in your drive. 

 

Some smaller makes and models, especially the popular ones will still fall in a higher category due to the factors I explained above. There is a huge difference between the models. There are websites you can use for free, which are simple to use and work out which bracket each car falls into. Your jaw will drop when you realise how much you can save by just changing to a different model, also the fact you can buy a car with more power and a larger engine yet pay less for your insurance. For youngsters, stay away from the popular models, old models and indeed the new models. 

 


 

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Guest Pistonbroke

Ironically I received a letter from my Insurance today apologising for my cover going up due to things out of their control. It only went up by 67 cents a quarter, they could have saved the paper, I won't be looking for a new company due to that. 

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