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The Flying Banana

17 year old driver insurance oddity !!!

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Insuance is a strange thing ...bought my son the daytina compact on here ..he wanted something different from a Corsa so instaead of blowig it all on a car and then again on insurance i we thought this would work ...no way hose !

BMW 318Ti  insured for 1 year ..top quote is 5 figures ..lowest quote was about 7 grand so thats oot the game noo !

 

However ..they will accept him on my 530D Sport touring  for just over 2 grand which considering other quotes for poular small cars at 1800 etc this is quite astonishing !


Where do they get their figures !

 

Edited by The Flying Banana

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the 530 will be using your no-claims and you'll never let him drive it alone!!! :lol:

 

When I got quotes for my step son the price went up after he passed his test i.e. on L plates it was a LOT cheaper then after he got his full licence!  He was 22 at the time and I was quoted £5k for cover on the 528i touring.....

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6 minutes ago, StRaNgEdAyS said:

This 7 grand and 2 grand... Are those annual insurance premiums?

Absinthe makes the tart grow fonder

I would imagine so.

 

The ambulance chasing culture we now have in the UK means the slightest slow-speed fender bender results in endless calls from companies offering to secure you thousands in compensation for non-existent injuries. They only have to mention the word 'whiplash' to the defending insurers and it's an automatic £1800-2000 payout, no questions asked and no proof of injury required.

 

Add in the power and speed capabilities of modern day cars (100+bhp from 1300cc) coupled with the appalling driving of some of the youngsters and you have the perfect storm and perfect excuse for insurance companies to demand an arm, leg and your first born for writing a policy on anyone under the age of 25!

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Put my 18 year old daughter on the Stag policy - has to be accompanied by Mrs S or myself when driving, shocking an extra £23.50 on top of the £103pa standard policy!!

 

NFU charged us £800 extra to put her on Mrs S's Hyundai i30 whilst learning and no extra charge when she passed (many companies then add thousands as driver will be unaccompanied), I was happy with that figure and she earns her own NCB as well even as a named driver.

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Aviva will add him as a learner driver to both compact and 530 for £180 but after that no deal until he is 21 .

 

Options now being looked at are a Focus or Fiesta Ecoboost ( £800  PA ) or a Mini Cooper ( £1200 pa )

 

a stag ..one of his dream cars or a spitfre with 6 cylinder in it !

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Its all to do with the car. Your 530d wagon is seen as an "old mans" car where as a little TI compact is a bit more sporty...supposedly. When I was 18 I swaped from a 1.1 Peugeot 205 to a 1.8 16v Alfa 155. The price was the same.... I asked and they said it was because the 155 was seen as a grown up car where as the 205 was driven and crashed by every idiot.

Edited by Joss

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that is scary prices for insurance for new drivers. When I was 18 and looking to buy my first car, I lusted after a 205 1.6 GTI but the insurance for that even back then with third party fire and theft was about £1k. So I reconsidered and ended up with a 2ltr Volvo 360 GLS lol but only £500 insurance, which was cheaper than any other car I tried all with small engines. At least it was rear wheel drive and once the suspension was uprated it actually cornered quite well with little 13" wheels. :D

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I'm in the same boat at the moment - Have you found a solution Scott?

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no solution to compact ..quizzed the company that would cover the 530 but not compact..as Joss said its the preception of the car ..the compact could attract attention even before it moves  , the 530 despite being more powerful and valuable apparently wont be subjected to what the compact could be ???

 

So ..the choices could be  a Focus Ecoboost ( he has some cash for deposit and i said i would ' help' him with the rest ) or a Mini Cooper or just use his cash and insure the 530 touring  

 

The 5 is ideal as he goes to downhill tracks so bikes on roof , his mates in and space in boot..it is infact teh alround cjheaper option.

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I'm sure you have mate. I'd definitely say a wagon is a good way to go. Either yours or his own. Thought about a black box?

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so to update this the compact was a defo no go , the 530 was OK until renwal time and then it went sky high .

 

Looked about at Corsas, Polos etc and they were all pretty dear for what they were so ended up in a 58 plate Astra Sri XPack for just a little more insurance than a Corsa. I prefer a bit of car around him rather than a small box so worth teh extra .. Its in his name , he can earn NCB so all good ... a decent first car i think

 

Astra_FRB.jpg

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Not a bad first car at all and like you said, more substantial than a Corsa etc

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Good result there!

 

I think in the last five years the black box has ruled supreme for new drivers. Make and model of vehicle is less relevant.

 

A mate of mine started driving aged 21 a few years ago. once he passed, quotes on pretty much anything ranged from £3000 and upwards without a black box. However, they were around £1200 or so with little variance on anything at all from a saxo to a seven series, as long as the black box was fitted.

One old Audi A4 avant 2-litre later, he was quite the happy bunny.

 

 

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On 23/04/2017 at 8:11 AM, pauliexjr said:

I would imagine so.

 

The ambulance chasing culture we now have in the UK means the slightest slow-speed fender bender results in endless calls from companies offering to secure you thousands in compensation for non-existent injuries.

 

 

You don't even have to have had an accident for these people to call you.

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17 hours ago, e60neindanke said:

 

You don't even have to have had an accident for these people to call you.

No, but it helps! Seriously though, you have to wonder at the gall and brass neck of some of these people, "I'm calling to inform you that you may be liable for compensation for your recent accident" "Er, I haven't had an accident in over 5 years" ....click.

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