Oh dear - insurance

[AnthonyH]

So my project car, an aged GP, passed its MOT last week and i've just done my yearly insurance - the quote came in at £215, and I bought it.

After this as a matter of interest I added my soon to be 17 year old son to the quote options, to see what sort of cost it'll be to insure him in the future as a named driver on this policy, the cheapest quote was...

£2,675 !!!!!!!!!!!!!!!

 

[AnthonyH]

For want of a better phrase i've now got the quote down to £1,943.

In the list of quotes there was a supplier called "Go Girl", who were offering the insurace at £6,624.

 

[bugsymike]

For want of a better phrase i've now got the quote down to £1,943.

In the list of quotes there was a supplier called "Go Girl", who were offering the insurace at £6,624.

Out of interest what was his quote as a stand alone insurer?
The reason I ask is in the past I let my five children have the opportunity to learn to drive my vehicles named on my insurance, but once they pasted the test they had to insure themselves, that way my insurance was kept at a sensible level as they had a experienced driver beside them, but when they came to insure themselves they had recorded proof of driving which could be helpful when starting their own policy, plus if they made a claim it would come out of their pockets which concentrated their minds a little.

 

[AnthonyH]

Out of interest what was his quote as a stand alone insurer?

I've not done this one yet. Time to have a look!

The reason I ask is in the past I let my five children have the opportunity to learn to drive my vehicles named on my insurance, but once they pasted the test they had to insure themselves, that way my insurance was kept at a sensible level as they had a experienced driver beside them, but when they came to insure themselves they had recorded proof of driving which could be helpful when starting their own policy, plus if they made a claim it would come out of their pockets which concentrated their minds a little.

Deffo a good idea! I have no idea how much it cost to go on my parents car insurance, thats too long ago, but I know it was a tiny amount in comparison.

I wonder who ever takes out a "Go Girl" policy.

 

[AnthonyH]

I just did some insurance for him to insure the car on his own, not as a named driver.

It came in at over £4,000.

So he'll have to be a named driver for a while, maybe for a year, as you've mentioned.

 

[bugsymike]

I just did some insurance for him to insure the car on his own, not as a named driver.

It came in at over £4,000.

So he'll have to be a named driver for a while, maybe for a year, as you've mentioned.

It's only money.
Until he wraps your car up and your premium goes through the roof on all your cars that you drive including your wife's as you have to declare.

 

[AnthonyH]

It's only money.
Until he wraps your car up and your premium goes through the roof on all your cars that you drive including your wife's as you have to declare.

Yes, this is an issue. But I know he'll be a good driver, one of the things i taught him from a young age is to be very nervous about roads and cars. Partly because my uncle died in a car crash before i was even born, he was just 21 and in the army. They were racing back to the army base after a night out drinking. The car skidded on ice and 4 people died, the family never said who was driving, but he'd been stealing cars and was given a choice...army or jail. So i'm guessing it was him - he'd have been better off going to jail for a stint.

In the last 25 years i've not made a single claim. And i've paid out...lets guess £6,000 in premiums. Wish I could have some or all of that back!

 

[varesecrazy]

For want of a better phrase i've now got the quote down to £1,943.

In the list of quotes there was a supplier called "Go Girl", who were offering the insurace at £6,624.

When our son was 17, we used the Comparison sites to figure out the various scenarios

It was cheaper to insure 2 x 17 year olds than 1 of them both boys with Zero experience

The rates rocketed when they passed though..

An old FIAT each,
then a Sporting once NCD had been earned

 

[AnthonyH]

The rates rocketed when they passed though..

How so? Were they named drivers at first and then they got their own individual insurance?

An old FIAT each,

I tried to persuade him that he'd like a Fiat 500, but alas no, so he gets a Punto...

 

[varesecrazy]

How so? Were they named drivers at first and then they got their own individual insurance?

2 x 17 year olds we're cheaper than one added to our policy

Presumably that "thinned out the risk",

Only 1 x 17 year old novice driving out of 4 x named

Obviously once they have a full licence, they are no longer supervised..

So have more opportunity for poor decisions

I tried to persuade him that he'd like a Fiat 500, but alas no, so he gets a Punto...

Mk1 punto 1108cc
Mk2 punto1242cc

Got them on the road..

A Cinq sporting, also 1108 : so cheap to insure

 

[AnthonyH]

2 x 17 year olds we're cheaper than one added to our policy

Presumably that "thinned out the risk",

Hmmm. One of the quote options that seemed to make a difference was going from 2 to 3 household cars, presumably the insurers thought he'd be a defacto owner/driver. So i'm thinking about risk now.

Only 1 x 17 year old novice driving out of 4 x named

Obviously once they have a full licence, they are no longer supervised..

So have more opportunity for poor decisions

Mk1 punto 1108cc
Mk2 punto1242cc

Got them on the road..

A Cinq sporting, also 1108 : so cheap to insure

That's interesting, I could look to buy something that can't go very fast, and i'm guessing that'd be cheaper to insure. I might look at finding a MK2 Punto, they're a decent car, although thin on the ground these days. I'll also look at the Cinq and 1108.

 

[The Panda Nut]

So my project car, an aged GP, passed its MOT last week and i've just done my yearly insurance - the quote came in at £215, and I bought it.

After this as a matter of interest I added my soon to be 17 year old son to the quote options, to see what sort of cost it'll be to insure him in the future as a named driver on this policy, the cheapest quote was...

£2,675 !!!!!!!!!!!!!!!

Kinelle. That is truly appalling. My beighbour had a box fitted to the car for recording how the car is driven. This type of insurance made it affordable for his daughter..... just!

 

[AnthonyH]

I've just found a webpage about telematics or adding a type of black box recorder to the car. It somewhat explains how this can help reduce costs for insurance, although I'm not wholly sure of what to do at this time.

https://www.moneysupermarket.com/car-insurance/how-does-black-box-insurance-work/

 

[AnthonyH]

I've just tried an insurance company that specialises in younger drivers but after i'd given all the details they wouldn't display a price, they just said they'd get back to me.

I've also seen "Pay as you go" insurance for younger people, basically you put some telematics in the car and you pay insurance depending on how many miles you drive in any given month.

 

[The Panda Nut]

I've just found a webpage about telematics or adding a type of black box recorder to the car. It somewhat explains how this can help reduce costs for insurance, although I'm not wholly sure of what to do at this time.

https://www.moneysupermarket.com/car-insurance/how-does-black-box-insurance-work/

Grit your teeth and try it.

 

[AnthonyH]

Grit your teeth and try it.

I have the dentist next week, so gritting my teeth might cause something to fall out....lol. But i get it!

 

[The Panda Nut]

I have the dentist next week, so gritting my teeth might cause something to fall out....lol. But i get it!

I thought it was bad enough when my kids were learning 20 years back. Pretty sad state of affairs.

 

[FiatMatt94]

I've always found with insurance ever since I passed my test it has always been cheaper if I put my dad down as a named driver on my policy even to this day, plus I always ring them to do a little haggling. Also nowadays I only stick with the well known insurance companies as when I crashed my Cinquecento at 18 years old I was insured with a company called insure2drive up South Street in Dorking which was about 10 mins away from me at the time, they no longer exist which is not surprising as they were a right joke, I thought I'd better tell them I'd crashed the car & their answer was "want do you want us to do about it". Luckily it was the other driver at fault & she'd already admitted liability so her insurance dealt with it & paid me for the car, also when the Cinq was picked up my insurance company sent me the renewal with a years no claims so I got my Bravo, went to a different insurance company with my renewal, didn't tell them about what happened with the Cinquecento & got it for a about £700 at the time which was cheap for an 18 year old

 

[AnthonyH]

I've always found with insurance ever since I passed my test it has always been cheaper if I put my dad down as a named driver on my policy even to this day, plus I always ring them to do a little haggling. Also nowadays I only stick with the well known insurance companies as when I crashed my Cinquecento at 18 years old I was insured with a company called insure2drive up South Street in Dorking which was about 10 mins away from me at the time, they no longer exist which is not surprising as they were a right joke, I thought I'd better tell them I'd crashed the car & their answer was "want do you want us to do about it". Luckily it was the other driver at fault & she'd already admitted liability so her insurance dealt with it & paid me for the car, also when the Cinq was picked up my insurance company sent me the renewal with a years no claims so I got my Bravo, went to a different insurance company with my renewal, didn't tell them about what happened with the Cinquecento & got it for a about £700 at the time which was cheap for an 18 year old

Sounds like a result!

Its interesting that you say you rang them. When the last company said they were "considering" what quote to offer it made me realise that younger person car insurance is not as price sensitive as the big search engines. I might have to phone several independant insurance companies and see what they can do. I can remember not that long ago all insurance was done over the telephone. OK, it might be 15 years ago, but thats still not a lifetime ago, OK, it might not be far off the lifetime of my son, but now i'm rambling lol

 

[FiatMatt94]

Sounds like a result!

Its interesting that you say you rang them. When the last company said they were "considering" what quote to offer it made me realise that younger person car insurance is not as price sensitive as the big search engines. I might have to phone several independant insurance companies and see what they can do. I can remember not that long ago all insurance was done over the telephone. OK, it might be 15 years ago, but thats still not a lifetime ago, OK, it might not be far off the lifetime of my son, but now i'm rambling lol

Some companies won't entertain discounts over the phone but some still will like the old days over the phone. My insurance company gave me my renewal last year when I still had the Panda which was something like £350 with 12 years no claims, I couldn't find any cheaper so I rang them & I was quite blunt with them as I stated it was slightly more than the previous year with an extra years no claims & I said them I'll put it straight & simple I'm not paying it so I threatened to go elsewhere & they knocked of nearly £50. I'll be getting my renewal this week so I wonder what it's going to be