high insurance price
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- Posts: 14
- Joined: Wed Jan 05, 2011 7:03 pm
- Location: sussex
high insurance price
My 17 year old apprentice has just bought his first car, a lovely 998cc mini mayfair , his insurance is astrinomical £2600 fully comp. He passed his test first time and has pass plus. He only paid £1300 for the car , so how can the premium be so high. Does anyone know of an insurance firm that would help him. I told him i would try to help , as an apprentice he doesn't get paid much. thanks
1961 jaguar mk2, 1969 mgbgt, 1971 mini clubman estate, series 3 landrover, 1964 morris traveller
Re: high insurance price
Try Footman James - they like to insure younger drivers. Also, joining a club tends to take it down.
I was quoted £1300 to insure my Spitfire 1500 (worth £1300) about three months ago, by FJ and through the TSSC.
(Haven't taken my test yet though )
I was quoted £1300 to insure my Spitfire 1500 (worth £1300) about three months ago, by FJ and through the TSSC.
(Haven't taken my test yet though )
1977 Triumph Spitfire 1500; 1974 Jaguar E-Type OTS V12
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- Location: Cambridgeshire
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Re: high insurance price
Unfortunately younger drivers are rated on the amount of damage they might do to other people / other cars - the value of their own car doesn't really come into it.
£2,600 does sound a bit steep though!
Did he ring around many companies or brokers? I think that many of the classic insurance brokers tend to focus on the over 25's, but most general brokers will cater for younger drivers too. Phone round the ones that advertise in Practical Classics, then get on t'internet.
It's really a case of phoning round as many as possible to see what they come up with. Best to go for the highest possible excess (the amount the your apprentice will have to pay if he has a claim). Higher excess = lower premium (an incentive to drive carefully and build up No Claims Discount).
Occupation also has a bearing on premium. Check what occupation they have him listed as ('Motor Trader' would cost more than 'Motor Mechanic').
£2,600 does sound a bit steep though!
Did he ring around many companies or brokers? I think that many of the classic insurance brokers tend to focus on the over 25's, but most general brokers will cater for younger drivers too. Phone round the ones that advertise in Practical Classics, then get on t'internet.
It's really a case of phoning round as many as possible to see what they come up with. Best to go for the highest possible excess (the amount the your apprentice will have to pay if he has a claim). Higher excess = lower premium (an incentive to drive carefully and build up No Claims Discount).
Occupation also has a bearing on premium. Check what occupation they have him listed as ('Motor Trader' would cost more than 'Motor Mechanic').
Too Many Cars, Too Little Time.
http://www.flickr.com/photos/darren-cambs/collections/
1973 Triumph TR6 CR
1971 VW Type 2 Bay Window
1997 Mazda MX5 Mk1
1998 Jeep Grand Cherokee 4.0 Ltd
2001 Alfa Romeo 156 1.6TS Veloce
http://www.flickr.com/photos/darren-cambs/collections/
1973 Triumph TR6 CR
1971 VW Type 2 Bay Window
1997 Mazda MX5 Mk1
1998 Jeep Grand Cherokee 4.0 Ltd
2001 Alfa Romeo 156 1.6TS Veloce
Re: high insurance price
£2600 is a good price for a 17 year old - best quote our son could get for a 1 litre Polo was £3800 !!
He's decided to to keep to his motorbike for the next six months then put it on the road when he' turns 18... and the price will be nearer £1600.
He's decided to to keep to his motorbike for the next six months then put it on the road when he' turns 18... and the price will be nearer £1600.
David
1977 Vauxhall VX2300 saloon (GLS spoiler, getrag 5-speed box, Bydenstein head)
1976 Vauxhall Sporthatch (in pieces in the garage!)
2003 MG ZT-T (my daily driver)
1993 Mini Cooper 1.3 Spi (my wife's summer runabout)
1977 Vauxhall VX2300 saloon (GLS spoiler, getrag 5-speed box, Bydenstein head)
1976 Vauxhall Sporthatch (in pieces in the garage!)
2003 MG ZT-T (my daily driver)
1993 Mini Cooper 1.3 Spi (my wife's summer runabout)
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- Location: Harlow, the birthplace of fibreoptic communication, as the town sign says.
Re: high insurance price
17 yr old miss Rusty's 998cc Metro costs just over a grand but that's on a learner driver policy where someone with a full licence is supervising..i.e. me! Her test is coming up soon and preliminary quotes vary wildly. It may not be fast and I may have only paid 260 quid for it (but rust free!!!! ) but it can still do a lot of expensive damage to someone's Bentley or whatever.
Have you looked at insure the box? the girl over the road from us has halved her premium by having the insure the box tracker policy- basically they monitor your driving patterns:speed, braking, times of day, etc, and charge you accordingly. I'm surprised it hasn't been taken up by other companies as an idea.
Have you looked at insure the box? the girl over the road from us has halved her premium by having the insure the box tracker policy- basically they monitor your driving patterns:speed, braking, times of day, etc, and charge you accordingly. I'm surprised it hasn't been taken up by other companies as an idea.
1968 Triumph Vitesse Mk1 2 litre convertible, Junior Miss rusty has a 1989 998cc Mk2 Metro, Mrs Rusty has a modern common rail diesel thing.
- SirTainleyBarking
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- Joined: Mon Feb 14, 2011 12:41 am
- Location: Solihull, where Landrovers come from
Re: high insurance price
And then the insurance industry wonders why some young-un's don't bother with their products.
Seriously, if he can wait a year or so, that extra year will save him quite a bit.
Trouble is: New driver, very high probability of accident in the first year of driving due to inexperience + Young Bloke, again presumed to be a rat boy in a chavved up Nova = F. Off quotes
I was lucky that I didn't get a car / insurance till I was over 21. That was pricy, but only in 3 figures, and the vehicle was worth 4
Seriously, if he can wait a year or so, that extra year will save him quite a bit.
Trouble is: New driver, very high probability of accident in the first year of driving due to inexperience + Young Bloke, again presumed to be a rat boy in a chavved up Nova = F. Off quotes
I was lucky that I didn't get a car / insurance till I was over 21. That was pricy, but only in 3 figures, and the vehicle was worth 4
Landrovers and Welding go together like Bread and Butter. And in the wet they are about as structurally sound
Biting. It's like kissing except there's a winner
Biting. It's like kissing except there's a winner
Re: high insurance price
My friend has just passed his driving test; 1989 Mini Neon, 998cc, modified with wider minilites, stripes, different colours, bucket seats, steering wheel and big arches. He's just texted me that with Footman James he's getting 4500miles a year, 3rd party for £935.50.
1977 Triumph Spitfire 1500; 1974 Jaguar E-Type OTS V12
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Re: high insurance price
I always used Adrian Flux when I was younger, so much cheaper than anyone else. Worth a try.
Matt
1962 Triumph Herald 1200 Coupe
1970 Triumph Herald 1360 Convertible
1978 Reliant Scimitar SS1
1986 Mini City
1990 Mini Equinox
1969 Hillman Imp
1969 Morris Minor 1000
Scarab Formula Vee race car
5x racing karts, Rotax, pro, 100cc and gearbox.
1962 Triumph Herald 1200 Coupe
1970 Triumph Herald 1360 Convertible
1978 Reliant Scimitar SS1
1986 Mini City
1990 Mini Equinox
1969 Hillman Imp
1969 Morris Minor 1000
Scarab Formula Vee race car
5x racing karts, Rotax, pro, 100cc and gearbox.
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- Joined: Tue Feb 22, 2011 10:17 am
- Location: Harlow, the birthplace of fibreoptic communication, as the town sign says.
Re: high insurance price
None of the 'classic' insurance companies are interested in teenage business: they only want low mileage low risk stuff, FJ won't insure anyone under 25 and nor will any of the others: even if you're over 25 they want you to have held a full licence for at least 5 years. They advertise that they'll do 'young' driver insurance but their definition of young is different to most peoples, and unfortunately for miss Rusty insure the box won't do cars over 15 years old.
The best quote she's had so far is £2200, and a lot of comapnies won't even quote at all because a Metro Mozaic doesn't exist according to the computer.... it's basically only City spec with a sunroof but computor says no.....
I have the same trouble with my Rover, it's an SEi, an end of production runout model with stuff like half leather seats and alloys and the like fitted just to get rid of stock but again, computor says it doesn't exist.
The best quote she's had so far is £2200, and a lot of comapnies won't even quote at all because a Metro Mozaic doesn't exist according to the computer.... it's basically only City spec with a sunroof but computor says no.....
I have the same trouble with my Rover, it's an SEi, an end of production runout model with stuff like half leather seats and alloys and the like fitted just to get rid of stock but again, computor says it doesn't exist.
1968 Triumph Vitesse Mk1 2 litre convertible, Junior Miss rusty has a 1989 998cc Mk2 Metro, Mrs Rusty has a modern common rail diesel thing.
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Re: high insurance price
As a driving instructor this is an every day topic with my pupils. What I have noticed is that the cost of insurance has rocketed this last 6 months, quotes of several £k being common.The only thing new drivers can do is take a pass plus course and then shop around. My school car is insured with Adrian Flux (approx £370 ) and when some clown ran into the back of us their handling of the claim was 1st class. Will not be giving them the Wolseley insurance though as RH are much cheaper for classics
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