Car insurance for a 22 year old

[Rea]

I've read the other threads about insurance for new drivers, but what I want to know is, do I buy the car and then find the insurance or work out the insurance as best I can and then get the car?

My insurer, Direct Line, wont let me put my son on my insurance to drive my car more than once a week. He only passed yesterday and is itching to get on the road.

It all seem's so complicated and long winded.

[SueFinanceManager]

It is!!!!!

 

We did a bit of a search for a car and then we were able to get rough idea by asking for quotes for VW polo 1.2 litre and fiesta 1.0 litre etc. This gave us a rough idea of how much it would cost and then when we brought the car we brought the insurance.

 

My boy passed in Feb and was only 17 at the time and the best quote we got was from LV http://www.lv.com/insurance/car_insurance/ The cost for Toms vw polo insurance was £2985 for the year but if he renews in Feb without having made a claim he will receive 2 years no claims bonus and by then he will be 18 so hopefully that will help to bring it down even further.

 

You need to shop around and you should get a slightly better reception than us because your lad is 22....several insurance companies wouldn't even quote for Tom as they didn't want to insure a 17 year old period!!!

[Conker]

My dd's insurance went down conciderably when my dh put himself down as a named driver on her policy. it didnt change significantly when I was added tho'! she got one that gave her a years no claims after 10 months. ds has no chance, his insurance would be so high he cant afford driving lessons let alone a car ( and he wouldnt be seen dead in his sisters silver and pink corsa even if she would let him!)

I would get a list of the type ofcars he's interested in, then shop around for insurance for them all, some companys ( I think co op was one) do 'black box' when times/ speed are limited and the premium is dependant on how the previous months driving. and see what the difference is. it can be quite cosiderable between the makes, saxo's polo's, corsa's etc

Its a minefield really!

[Inge]

it is a bit of both, see what cars are available, at prices you can afford etc, then check insurance costs for the makes and models...this can be a big difference between them, allowing a better choice for running costs etc..

 

adding a second driver can reduce the cost , did on some policies, but not on others...

 

suppose direct line have changed their policies as we were able to get annual insurance for my son on my car, which really did help..suppose they are worried about 'fronting' more these days with the cost of insurance being so high.

 

Which? say

Downsize your engine

Buy a car from a low-risk insurance group, such as a supermini, to limit your premium. Get some quotes before you buy so that you know the rough price bracket it falls into.

Look for tailored policies

Some insurers offer policies more suited to young drivers such as the i-kube or Coverbox policies, which offer cheaper premiums in exchange for not driving between 11pm and 5am. 50% of serious or fatal accidents happen at night.

The use of 'telematics' or 'black box' systems is becoming more common and allows younger (and older) drivers to secure cheaper premiums in return for 'good' driving behaviour. Policyholders' driving performance is tracked and assessed.

Add a named driver

Adding named drivers to the policy can reduce the premium, particularly if they're older and more experienced. If the insurance policy is to be in the young person's name, transfer the car into their name too – many insurers won't provide cover unless the main driver is also the owner.

Consider increasing the excess

Be realistic though. If you're 17 and don't have much money, could you afford a £600 excess if you had an accident? Explore the options. Don't assume that comprehensive cover is always more expensive than third party, fire and theft. Third-party cover may be cheaper if you're buying a low-value car, but it's worth getting quotes for both.

The risks of 'fronting'

It may seem cheaper to put the policy in the parent's name, with the child as a named driver. However, if the child is actually the main driver, this practice is known as 'fronting' and is illegal. Insurers are increasingly tracing fronted policies.

If your child doesn't drive your car very often – if they're away at university, for example – you may be able to add them to your insurance as a temporary driver for short periods rather than taking out a policy of their own.

If you're fronting and you're found out, the insurer may refuse to pay out in the case of an accident and the parent may lose their NCD. In some cases the insurer may even pursue legal action for fraud.

 

 

[Rea]

Thats the word she kept using 'fronting' now I understand!

I'm more and more surprised that any young people ever get onto the roads.

 

So, in short, keep digging? I'm really not in the mood for this today so I'll wait till tomorrow.

 

Thanks all for your knowledge :1b

[SueJ]

Have you looked into multi-car insurance deal - I have 3 cars on our policy with Admiral (Peugot 1.6 me, Nissan 1.4 daughter, Fiesta 1.1 son) - the combined premium for all three is much cheaper than separate insurance on the three. All three of us build up / keep our no claims discounts which is a real benefit as that helps to reduce the premiums each year and obviously the cost comes down as they get older - as a general rule of thumb the less powerful the engine the cheaper the insurance as Inge has said.

[Rea]

That would mean either swopping mine or putting Sam on Direct Line and I'm not sure they'd be the cheapest. I'll give them a go though :1b

[Rea]

Vauxhall corsa 1.2 3 door is £3373 with Direct Line, with multi car insurance!!

[SueJ]

When we insured with Admiral for the first time we were all insured with different insurers and different renewal dates (having done shopping around for cheapest deals when children first passed in the days before multi car insurance) they started the insurance with the first car due for renewal and then gradually synched in the others as their renewal dates came up eg:

 

First car insured August 01 2011 to July 31 2012 (son's car)

Second Car due for renewal april 2012 insured from April 2012 to July 31 2012 (in our case daughter's car and they gave her a full 1 year no claims discount for the April to July insurance period)

Third car due for renewal June 2012 insured from June 2012 to July 31 2012 (my car - max no claims anyway)

 

Then come July 31 2012 all three renewed together

 

Hope that makes sense

 

Hope that makes sense

[SueJ]

If my memory serves me right (son is now 23.5 and has been driving since 18) he was insured with Admiral first as they were the cheapest - also look at Endsleigh as they were also I think his second insurer at an almost reasonable rate - I think his first insurance was just under £2K though as unfortunately all insurers consider males under 25 high risk!

[hali]

my son insured with admiral at 17 and got a 10 month policy - once up for renewal got a yeras no claims and it went down a lot

[hali]

also quote came down with me and hubby as named drivers on his policy

[Rea]

I had a claim against me last year and hubby has points on his licence so it looks like its going to be cheaper for Sam to be well rid of us! £200 dearer with me on the insurance :rolleyes:

[Inge]

Definitely better off without you..

 

Put my son on my insurance for a while so he had transport before emigrating... he had points on his and the cost doubled against if he had none... I made sure he paid for it!

[Guest]

oh my word £3000 for insurance that's devastating...and probably as much as the car!!! it sounds like it should be buy the policy and get a car thrown in for that price!

 

we jump policies every year and often it's the 'sister company' that ends up being cheaper and then the following year it reverts - can never understand it!

 

We have used Bell (sister of admiral) Tesco, M&S in previous yrs though have never had to look into young drivers insurance - and don't think i ever want to at these prices so not sure if they'd be of any use

 

are older cars fairing any better - bangers as they used to be called in my day!

 

edit

found this on martins money savers.

http://www.moneysavingexpert.com/insurance/car-insurance-young-drivers

 

their forum may throw up some ideas too

Edited October 16, 2012 by gingerbreadman

[Inge]

Older cars do not fare better, sometimes they are worse... my son was 25+ and wanted insurance for a 'banger' and it costed more 3rd party than fully comp, and was still more than the insurance on younger modified van he was driving.

 

Rules are changing or may already have where they can no longer discriminate costs for male or female drivers.. seems female insurance is set to rise!

[Guest]

eee they have people trapped every which way!! Criminal

[Guest]

Have you considered a lease car? The monthly payment usually covers insurance, breakdown cover and tax but I am not sure that anyone will lease a car to an under 21 but if they do it might be cheaper than £3K a year and you could then build up your no claims for when the lease term ends.

[Rea]

Good idea, but I think he'd really like to own his own, his first baby so to speak

I'm not looking any longer, until he gets a car its too long winded to put all the details of an imaginary car into the comparison sites.

But, I know what to look for now and who to approach, so thanks for your input :1b :1b

[Guest]

Rea, have a look here http://www.uswitch.com/car-insurance/the-cheapest-cars-to-insure/ for advice on the cheapest cars for young drivers and how to find out which insurance group others fall into.

 

We insured our 17 year old daughter's classic mini in July with Insure... be wary of the comparison sites which offer good deals but then tell you (after you've completed all the pages of information) that they don't actually cover young drivers, classic cars or those who've had a licence for less than 12 months :angry: We, and some of Lex's friends, have fallen foul of this ! They also have a competition running to see who gets the most outrageous quote...Direct Line £12800 for a Citroen C1 is in the lead at the moment :blink:

 

Nona

[Rea]

Thanks Nona, looks like an interesting site to have a good read of :1b :1b