Luan Pra bang

I spoke to an 18 year old recently who was paying £3500 a year for insurance on a 1.2 corsa worth about 1k. I do not believe for a second that youngsters crash enough to justify that amount per year for insurance. If they are getting screwed for so much each year on POS cars is it any surprise that many people take a chance and drive uninsured ?

tony de wonderful

There's clearly something wrong.

I don't see why you can't just get cheap 3rd party cover from the state like you can on Oz.

RobsyUK

iTrader: (2)

How the hell can a 19yr old afford £3.5k for insurance? I can't even afford £50 for a hooker.

Luan Pra bang

HE was 18 and I assume he couldn't as he was ringing me to try and swap his 2001 1.2 corsa for a 1996 1.0 poverty spec polo. His insurance was going to drop from 3500 to 1900 per year plus interest of course.

stilover

£3500 is just ridiculous.

It just means more and more will drive around uninsured. What's the fine for no insurance? £160?

subaruturbo_18

When i was 18 i had insurance for my Impreza UK turbo for £3200.... He must have other factors affecting it. Maybe he lives in a dodgy area or something. or had a claim previously?

ScoobyWon't

It's all the ****ing ambulance chasing solicitors encouraging Scum bags to sue for whiplash etc which is putting up premiums. ****ing American culture. ****ing solicitors. *****.

Midlife......

iTrader: (2)

If he had a more expensive car the insurance would go down a bit..............insurance companies assume a dirt cheap car is going to be trashed / crashed. If it was worth more it would be better looked after.

Although the insurance comapnies wil deny that LOL

Shaun

subaruturbo_18

Yes! What you said! I had a clio as a second car when i was the same age, that was cheaper fully comp rather than third party, i would guess for similar reasons.

stedee

iTrader: (4)

plus the banger cars end up burnt out. a few years back my mates celica was cheaper to insure than his 1.3 old ashtray(astra)

Moley

iTrader: (9)

Unfortunately no companies want to insure youngsters, as they do have lots of fault claims.

We all know what the average 17/18 year old drives like (not all i'd add), and it's the little bumper-to-bumper nudges they have that cost the insurers money (PI claims).

I do feel sorry for them, i could never have afforded that price when i was 17.

I paid £600 when i first passed my test, but in those days nobody ever claimed for whiplash (lucky, as i had 2 crashes!)

Moley

iTrader: (9)

Correct

A couple of companies we use refuse to quote for any car worth under £2k.

Blue and Gold

iTrader: (1)

it's a sad state really as when they can finally afford the insurance they will just do the stupid things they would have done at 18/19 at the age when they can afford it instead ( obviously not all will do this but I can almost guarantee a large number will)

Moley

iTrader: (9)

Most would have grown up by then.

The stats say that claims reduce after 19

tony de wonderful

Why's it going up so much every year? Where is the money going?

Do the insurance companies also own whiplash lawyer firms? I bet the scammers do!

Moley

iTrader: (9)

I don't know of any insurance companies that own lawer firms, that's not to say there aren't any.

£2bn was paid out last year in whiplash claims alone, which is 20% of everyones premium

DYK

I know a lad who past his test a few months ago,and is paying £1500 and something on a Y reg fiesta.

euan_r

iTrader: (29)

Taking the ops example though i can understand the premium asked. Although youngsters car isnt worth much its what they might hit that will cost more to fix.

Im very thankfull for my postcode

RobsyUK

iTrader: (2)

Im thankful for my company car....

stevebt

iTrader: (8)

Its not the price of the vehicle they own its the damage and the third party claims that follow. Considering if you touch someones rear bumper they claim whiplash and if you 17/18 your just going to get well stitched up due to peoples greed!

MMT WRX

My daughter is taking her test in a couple of weeks so we rang around for some quotes for her Ka. £3300 was the best and we live in a good post code as far as insurance is concerned.

PaulC72

I (just about) remember being 17/18 and pasing my test I didn't get a car or have insurance until I was 19 as I couldn't afford the £800 or whatever it was until then.

I don't think allot has changed except the cost. I also think that old people should be paying a premium too ;-)

TimH

iTrader: (11)

Two of our boys have started driving recently. The first - now 19 - damaged his £600 Pug 106 on the very first night he past his test by taking out his mates and showing off. Thankfully just damaged car and pride when he hit a bollard in a car park.

6 months later he wrote it off driving too fast in the ice and inexperience meant he panicked and braked, endup rear-ending a telephone pole, again "mates" in the car with him didn't help - ambulances, the lot, but thankfully no injuries.

He recently hit a horse in the dark and in the fog. Horse lost, car won, but hoof marks on the top of the door make you realise how close he came to being a goner.

So, yes, younger drivers are definitely a risk!! His insurance has only had to pay out £1500 for a new BT pole, but it *could* have been much more if his crashes had involved people or other cars.

Younger one passed his test just 2 weeks after his 17th birthday, only 3 weeks ago, and so far no accidents...but who knows. That said, he is a good driver that I am very impressed with (speaking as an ex-IAM observer/instructor). But they all think they're driving gods and have no real concept of the consequences of mistakes.

Anyway, what we found is that by having myself and my wife as named drivers it made a HUGE difference to the premiums. 17 year old, in a '99 Golf 1.4S that cost £600 is paying £2400 - yes, a lot of money, but that was the best "value" car, all things considered, we could find. We looked at insurance costs for newer, more expensive cars, but prices were generally £3k+.

My point? Dunno...but enjoyed writing it lol.

LSherratt

iTrader: (1)

4 years ago when I was 17, I was paying £1550 for the year on my 2003 1.4 206. That was considered cheap and a good deal as I knew that some of my friends were paying almost £2000 for similar cars.

It's such a rip-off but I can sort of understand why the premium is so high for younger drivers because I have also crashed but went the private route as I didn't want to claim. Just a split second of a lack of concentration and you can end up in the back of someone.

Example, my sister (19 years old) passed her test half a year ago and she has recently had a crash and she claimed on her insurance. While going round a roundabout, she stupidly adjusted her radio/ipod connection which resulted her in going into the back of a driver. The driver claimed whiplash even though she was driving around a roundabout at 10mph. Inexperience and not fully understanding the risks is a massive factor.

David Lock

I'm not sure about all this. When my kids lived at home I just added them as named drivers but kept ownership of the vehicles. Just ordinary cars such as a 205 td and a KA. Premiums were around £350 per vehicle with protected no claims. My daughter now lives in her own place and I gave her the KA to use and changed her to main driver. Cost £330. I think the key is who owns the car as all my no claims discount (max) was carried over. When she eventually gets her own vehicle premium will be lower as she gets older. dl

DYK

Well some might say that they can understand why premiums are so high for younger drivers but it still stinks a bit of scamming going about across the board.Things just don't add up or make sense sometimes with these insurance quotes.
Why can i go on a price comparison site and get the same insurance with the same company much cheaper.Yet when i called them directly they were charging way more for the same thing.
I posted something on another thread some days ago about me doing the above,and i ended up getting my quote cheaper than what i paid last year,and what i was quoted over the phone for this year.
and Direct line was bloody laughable what they wanted,£950.00 more than my cheapest quote,what's with that.

You won't find us on price comparison sites as we prefer to deal with our customers direct. yea i now know why

Luan Pra bang

From what I can gather I think the premiums are increasing due to insurance companies losing money on their investments and using customers to pay the difference. I am also starting to think that their inefficient way of working leads to a good percentage of each premium being wasted rather than being used to cover costs of payouts. I have personally paid over 4k in premiums in four years and never had a penny back, in this time my premium has actually risen and the cover has been lower and lower. I now have third party only cover no theft, no fire cover either and full NCD but still the premium goes up each year ? If this rise in premiums was due to whiplash claims then why do insurance companies continue to sell details of people who have crashed to no win no fee scumbag solicitors. After a **** crashed into the side of me 2 years ago I was bombarded with texts, 4-5 a day trying to get me to claim for a fake injury, next time I will take the cash as it annoys the **** out of me that the same insurance companies that sell your details, on the other hand complain like **** about claims. We are being fed some genuine bull**** here.
The insurance companys deliberately inflate premiums as much as possible ,they do this in some part through claims as this stops any one company having a competative advantage by being able to be cheaper. The higher the premiums they charge, the more of a customers money they have to gamble on the stock and commodities markets and the bigger bonus's the top execs get.

addi monster

iTrader: (6)

My first insurance cost me £850 iirc , this was around 18 years ago, what would £850 be worth now days, imho around 3k so if you ask me they are not really over charging the younger one's.

steve

tony de wonderful

You can see how the fake whiplash claims industry can be good for the insurance companies also. It gives them a reason to charge more money because their costs are higher. The more money they get in revenue the more money they have to spin on the stock-market or whatever it is that insurers do with the principle.

I think it is half a scam really.

Lee247

I am sick and tired of those adverts for PI Lawyers. If I had my way, I would put them all on a boat, float them to the middle of the sea and sink them. My Son is having a right job getting sensible insurance quotes. He is 21 and passed his test a few months ago. I can't get him on the Scoob, so am trying to get him a Corsa or such. Even that was quoted at over £2000. He's a student FGS