Car insurance for young driver
- Thread starter masona
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Maso' Go talk to a broker or three.. pick their brains so that you know the regs .....
There are people doing it wrong out there, like electrics the errors may only come to light in the event of a nasty accident !! Could be too late then ..
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There are people doing it wrong out there, like electrics the errors may only come to light in the event of a nasty accident !! Could be too late then ..
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david and julie
waren.....yes it was 3 years ago so everything is settled now. We did change companies and got a quote nearer what we were paying.
At time we were with Admiral and I wasn't impressed at all, car was top model, neon,16 months old, FSH,9K miles. we bought it new it cost over £14K. They offered £6K When I complained they sent me a copy of a page from Auto-Trader showing a 2 year old base model with 38K and 2 owners for £6K and said they based their offer on this. After months of e-mails I eventually got just under £9k. I think they just wanted rid of me so quoted a high premium on renewal.
There was no question about blame it was straight cut. A guy turned down a no right turn at about 35 and hit her head on. She was doing about 30 the force knocked her into a lamp which then fell over. As I said 2 of the 3 witnesses were coppers. The other guy was also charged with careless driving.
At time we were with Admiral and I wasn't impressed at all, car was top model, neon,16 months old, FSH,9K miles. we bought it new it cost over £14K. They offered £6K When I complained they sent me a copy of a page from Auto-Trader showing a 2 year old base model with 38K and 2 owners for £6K and said they based their offer on this. After months of e-mails I eventually got just under £9k. I think they just wanted rid of me so quoted a high premium on renewal.
There was no question about blame it was straight cut. A guy turned down a no right turn at about 35 and hit her head on. She was doing about 30 the force knocked her into a lamp which then fell over. As I said 2 of the 3 witnesses were coppers. The other guy was also charged with careless driving.
Perhaps we should ask from whence they gauged the market value ... Always thought it was from Glasses Guide.
I think they should be using some thing a little more authoritive than 'AutoTrader'. I am sure they must use a common resource ??
Sometimes insurers argue that the price you should get is the trade value (what a motor trader would pay) rather than the market value. But in general what you are seeing is another fact of life in the automobile market. Advertised prices tend to be no more than the starting point for negotiation rather than set in stone valuation.
I guess a safe, small, secondhand car would suite the boy. He is going to scratch / dent it .. or someone else will ... you know how it is, one has to learn about where to park as well as the driving bit ... there are plenty of decent little motors out there ... Nothing like a bit of hefty insurance to focus the mind on safety and the 'no claims bonus' !!
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I think they should be using some thing a little more authoritive than 'AutoTrader'. I am sure they must use a common resource ??
Sometimes insurers argue that the price you should get is the trade value (what a motor trader would pay) rather than the market value. But in general what you are seeing is another fact of life in the automobile market. Advertised prices tend to be no more than the starting point for negotiation rather than set in stone valuation.
I guess a safe, small, secondhand car would suite the boy. He is going to scratch / dent it .. or someone else will ... you know how it is, one has to learn about where to park as well as the driving bit ... there are plenty of decent little motors out there ... Nothing like a bit of hefty insurance to focus the mind on safety and the 'no claims bonus' !!
P
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david and julie
Yes I agree, I thought they used Glasses or the CAP guides too.
I am only saying what they actually did. Why should they be allowed to give you trade value though? I should of been able to replace like with like from a dealer at retail price. If you haven't done anything wrong why should you lose out just to save them money?
I am only saying what they actually did. Why should they be allowed to give you trade value though? I should of been able to replace like with like from a dealer at retail price. If you haven't done anything wrong why should you lose out just to save them money?
I know this will sound OTT but perhaps we have to really scrutinise what is on offer, beyond what may seem reasonable, (there always seems to be conflict between expectation and reality) .... be sure of all the pitfalls etc ..... There we go ! Bl--dy lawyers again !!
I personally use the AA for House and car ... special deal on house due to having other insurance with them - 30% off ... Now on the three :- Car ; House and Contents .. am doing ok ... Although Saga offered car for £26 less than AA ... the 30% off the house tends to keep me on board.
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I personally use the AA for House and car ... special deal on house due to having other insurance with them - 30% off ... Now on the three :- Car ; House and Contents .. am doing ok ... Although Saga offered car for £26 less than AA ... the 30% off the house tends to keep me on board.
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david and julie
Are you saying it is reasonable to be expected to lose 8K in 16 months on something that is as new. When you did nothing wrong? Or have I misunderstood what you mean?
To be honest we couldn't get a car similar from Chrysler for that much and ended up buying a Corolla.
To be honest we couldn't get a car similar from Chrysler for that much and ended up buying a Corolla.
I agreed and I has a write off car long time ago and the insurance said "If you want forecourt price then your insurance premium would be double", When it suit them, like blood out of a stone. Like you say why should we lose out when it's not your fault.david and julie said:
david and julie said:
No, not saying that it is reasonable to be offered below average resale value ... it is scandulous !.
Trying to say .... and I guess we mostly fit the profile .... We have no idea of the real risk to our investment in the day to day running of an expensive item like a new car.
Beginning to wonder if that FSH, normal mileage (that's another thing which has subtly changed now), is a better buy ?? I mean let's allow the previous owner to take the big 2yr hit on residual value, and any teething problems.
P
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AdamW said:
Ooooh! I'm off to my broker's now for a piece of the action.......
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david and julie
Yes you are much better off low mileage used as you say.
The problem was we hired a neon in the US on holiday and my wife fell in love with it.
We were thinking of getting a new car anyway when we got home, so decided on one of those. As you know there are few of them on the road and we couldn't find a used one. The dealers ex demo's were not much cheaper than new and you didn't have a colour choice. To be honest the car turned out a bit of a lemon anyway and we were glad to see the back of it. We were just put out the miserly offers we got at first.
One thing Admiral admitted was that the insurance co's, have an agreement to keep each others costs as low as possible. They were more interested in helping the third party insurance co than me.
We are both with Sainsbury's now and their rates are good. As you know though, with insurance the test is always when you make a claim.
The problem was we hired a neon in the US on holiday and my wife fell in love with it.
We were thinking of getting a new car anyway when we got home, so decided on one of those. As you know there are few of them on the road and we couldn't find a used one. The dealers ex demo's were not much cheaper than new and you didn't have a colour choice. To be honest the car turned out a bit of a lemon anyway and we were glad to see the back of it. We were just put out the miserly offers we got at first.
One thing Admiral admitted was that the insurance co's, have an agreement to keep each others costs as low as possible. They were more interested in helping the third party insurance co than me.
We are both with Sainsbury's now and their rates are good. As you know though, with insurance the test is always when you make a claim.
I wonder what is the insurance loading, beyond their true risk, for young drivers, if any ?
Quite a thought ... If and I repeat 'if', they are that much more likely to be involved in an accident .... Who decides that it is actually safe to let them drive anyway ?
Makes you wonder about road safety policy, allow known high risk wheel turners to populate the roads based on ability to pay high insurance rates !!
Now ducking and running for cover !!
P
Quite a thought ... If and I repeat 'if', they are that much more likely to be involved in an accident .... Who decides that it is actually safe to let them drive anyway ?
Makes you wonder about road safety policy, allow known high risk wheel turners to populate the roads based on ability to pay high insurance rates !!
Now ducking and running for cover !!
P
The main problem for insurers when deciding the risk for 17 year olds is that there is very little consistency throughout the age bracket. If you take a group of 60 year old men, they probably drive much the same. This is not the case with 17 year olds.
When I was 17 I would occasionally do things like get some major oversteer on corners and speed as fast as my 1 litre would take me. It impressed my mates no end, because none of them could get oversteer. Despite that, I would usually be pretty safe and was always very alert, looked far ahead, braked early and only drove like that on empty roads at 3am.
However, I knew people who tried similar driving, lacked the coordination and wrote their cars off. I also knew people who wouldn't drive at more than 30mph and were pretty frightened of driving. And then there was a friend of mine who managed to rip the front wheels off his mum's car because he drove whilst stoned and forgot to steer for a corner.
Now, an insurer has to come along and stick all of those drivers into one bracket. Sure, the majority of 17 year olds don't have or cause an accident, but the insurance company is going to cover their own bottom by charging excessive premiums for all. This has the added effect of reducing the number of 17 year olds who get their own car.
This drove me mad when I was 17. I didn't get my own car because the maths were: 1 litre car, £1000. Insurance, £2000.
Kind of off the point, but I was wondering. This whole Diamond "aren't girlies so great behind the wheel" policy. Imagine if there was no such thing as an insurance excess, and CCTV camera were in every supermarket car park. You could claim for the (albeit cosmetic) damage every time someone clips your car with a trolley, opens their door into yours, or even that old favourite, rests their trolley against your car because the car park is on a slope. Now, you would have to extend the car insurance to cover you when pushing a trolley of course. But I reckon that women's premiums would go up above those of men's.
When I was 17 I would occasionally do things like get some major oversteer on corners and speed as fast as my 1 litre would take me. It impressed my mates no end, because none of them could get oversteer. Despite that, I would usually be pretty safe and was always very alert, looked far ahead, braked early and only drove like that on empty roads at 3am.
However, I knew people who tried similar driving, lacked the coordination and wrote their cars off. I also knew people who wouldn't drive at more than 30mph and were pretty frightened of driving. And then there was a friend of mine who managed to rip the front wheels off his mum's car because he drove whilst stoned and forgot to steer for a corner.
Now, an insurer has to come along and stick all of those drivers into one bracket. Sure, the majority of 17 year olds don't have or cause an accident, but the insurance company is going to cover their own bottom by charging excessive premiums for all. This has the added effect of reducing the number of 17 year olds who get their own car.
This drove me mad when I was 17. I didn't get my own car because the maths were: 1 litre car, £1000. Insurance, £2000.
Kind of off the point, but I was wondering. This whole Diamond "aren't girlies so great behind the wheel" policy. Imagine if there was no such thing as an insurance excess, and CCTV camera were in every supermarket car park. You could claim for the (albeit cosmetic) damage every time someone clips your car with a trolley, opens their door into yours, or even that old favourite, rests their trolley against your car because the car park is on a slope. Now, you would have to extend the car insurance to cover you when pushing a trolley of course. But I reckon that women's premiums would go up above those of men's.
However you guild the Lily, it all distills down to the number and cost of claims against the number of people in the catagory I suppose.
Insurance companies don't survive if they get it wrong.
I recall the first major car insurance company crash in '60's ... The information came out after the fact, via the media !!!
Colleague of mine, at the time, had a nasty accident that very day, the resultant court proceedings cost him his home and about 4 years of near insanity !
Imagine waking in hospital to be told 'the bad news' your insurance was invalid just before the crash !!!
I do not believe that could happen now ...
P
Insurance companies don't survive if they get it wrong.
I recall the first major car insurance company crash in '60's ... The information came out after the fact, via the media !!!
Colleague of mine, at the time, had a nasty accident that very day, the resultant court proceedings cost him his home and about 4 years of near insanity !
Imagine waking in hospital to be told 'the bad news' your insurance was invalid just before the crash !!!
I do not believe that could happen now ...
P
It's typical of insurance companies to stick together at the expense of their customers. Great business to be in (although some of Lloyds' names might not have agreed a few years back), if you find that you are paying out a lot then just increase the premium on renewal. But what can you do - not have car insurance.
They've been clamping down on this in London lately as I've seen quite a few cars being pulled over and checked for MOT, insurance and Tax. And it's about time too! An ex of mine's car was hit whilst parked by a guy who was being chased by the police for failing to stop and he didn't even have a license or insurance. The magistrate banned him from driving for a couple of years!!!!! He was never allowed to drive in the first place!
They've been clamping down on this in London lately as I've seen quite a few cars being pulled over and checked for MOT, insurance and Tax. And it's about time too! An ex of mine's car was hit whilst parked by a guy who was being chased by the police for failing to stop and he didn't even have a license or insurance. The magistrate banned him from driving for a couple of years!!!!! He was never allowed to drive in the first place!
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