How Can I Make Insurance Cheaper?
Discussion
When I was a youth, I couldn't afford insurance on the likes of a GTI or Civic, so bought a Spitfire, easy to fix, bit different to the regular Eurobox's. Would recommend a GT6 for the extra ooommph - oh and pick the right classic insurance policy and it's just a few hundred quid and you can accrue NCB.
Jbadman06 said:
Ahhh a fellow teen. Best thing to do is settle for a car thats not gonna hurt you on insurance as much. As above.
I started fronting when i first passed at 17(I'm 19 now ).Bad i know, but was possibly the only way to get insured.
and the amusing thing is you weren't even insured.I started fronting when i first passed at 17(I'm 19 now ).Bad i know, but was possibly the only way to get insured.
I wanted a MKII Golf GTI back in the day but they were too expensive to buy and insure, then I had a brain wave. How about buying a car you can afford to buy and run, young Willy? So that's what I did.
Go to comparethemarkert.com
Start a new quote, say the cars value is high (3995 is probs high for a mk4)
4 seats
Add two low risk additional drivers, I had my mum and grandma (both have spotless licenses)
4995 miles per year
Park on the street (not garage or drive)
Run the quote, then change little things one by one and note down the price differences.
For example if you're a computer programmer, change it to computer developer etc until the price drops.
Put the start date as far possible into the future as you can (this is a biggie, usually knocks 20% off)
When you find the quote of your dreams give them a call and they'll ask when you would like the policy to start. You can say immediately and the price won't change (although if you change it online, the price will change considerably)
I do quotes for all my friends and they have all had exotic machinery for rock bottom prices for years. My flat mate got his renewal through at £685. He was happy to pay the price, I persuaded him to late me take a look and he paid £382. He couldn't believe it! Fully legal btw.
Oh, admiral/elephant will be the cheapest. If you have 1yrs ncb I'd be surprised if you weren't quoted considerably under £2k.
Start a new quote, say the cars value is high (3995 is probs high for a mk4)
4 seats
Add two low risk additional drivers, I had my mum and grandma (both have spotless licenses)
4995 miles per year
Park on the street (not garage or drive)
Run the quote, then change little things one by one and note down the price differences.
For example if you're a computer programmer, change it to computer developer etc until the price drops.
Put the start date as far possible into the future as you can (this is a biggie, usually knocks 20% off)
When you find the quote of your dreams give them a call and they'll ask when you would like the policy to start. You can say immediately and the price won't change (although if you change it online, the price will change considerably)
I do quotes for all my friends and they have all had exotic machinery for rock bottom prices for years. My flat mate got his renewal through at £685. He was happy to pay the price, I persuaded him to late me take a look and he paid £382. He couldn't believe it! Fully legal btw.
Oh, admiral/elephant will be the cheapest. If you have 1yrs ncb I'd be surprised if you weren't quoted considerably under £2k.
Petrolhead95 said:
Thanks for the advice guys.
The obvious answer is to wait a couple of years until insurance comes down but I'm just trying to see if it's possible to insure as of now. If not, I'll carry on in my trusty little 1.2 for a while.
Why? Of course its possible to insure now, probably for less than you pay on your CorsaThe obvious answer is to wait a couple of years until insurance comes down but I'm just trying to see if it's possible to insure as of now. If not, I'll carry on in my trusty little 1.2 for a while.
h0b0 said:
take a look at bigger cars. You may be surprised how "cheap" a BMW with a V8 can be compared to a corsa. Thats because not many 18 year olds crash BMWs with V8s compared to corsas.
Just for fun decided to add my daughter to the M5 quote.£28000 yes twenty eight thousand, not a misprint
Get onto Moneysupermarket and spend a few hours getting quotes. I purchased my merc because insurance was so cheap for a male in his 20s with zero no claims!
Some cars are just not insurable for the young and those without no claims; that's life, there's nothing you can do about it unfortunately.
Some cars are just not insurable for the young and those without no claims; that's life, there's nothing you can do about it unfortunately.
RacingPete said:
Having just spent a few days with a top insurance aggregation company, they say that the top 6 main factors for insurance are:
Well you're either making it up or they lied to you.- Post Code
- Price of car
- Age
- Convictions
- Length you have been driving/Experience
- Disabilities
Price of car makes little difference. Most claims costs are for tp damage, so the cost of your car is largely irrelevant.
Length of driving experience is a minor factor. A 50 year old who has just passed their test will pay far less than a 22 year old with 5 years experience. And not a huge amount more that a 50 y/o with a licence for 30 yrs. (although the 30 year driver may benefit from NCB that the new driver won't)
Disabilities are completely ignored. As long as DVLA are aware (if it's a notifiable condition) and have granted you a licence, insurers cannot charge extra due to 1997 disability discrimination act. If it's not a DVLA notifiable condition (eg. deafness) then you still have to disclose it but they can't charge you extra.
The other 3 you quoted, postcode, age and convictions are very relevant to price.
Postcode, age and car type are the biggest things. My insurance premium fell by 20% when I moved from Uxbridge (hardly Moss Side) to Surrey (I moved half way through the year, and they gave me a nice refund as a result).
I just did a quick check for quotes on a MK4 GTI for a 19 year old in my postcode, and it came out as £4242 with £250 excess.
Putting the excess up to £1k reduces the premium to £3784, which is well worth it. Going to TPF&T does nothing to reduce the price.
Adding a 64 year old parent to the policy (not as main driver) reduces the premium to only £2404.
Which is still excessive, but not bad.
Adding 1 year's age/experience/NCD reduces the price:
No NCD: £2404
1 year: £1460
2 years: £891
3 years: £692 (or £673 with a telematics box)
4 years: £634
Anyway, very clearly the OP's first priority is to earn his 1 year's NCD. And get another driver named on the policy.
Switching from the Golf GTI to 05 plate Panda 1.2 Dynamic reduces the insurance cost to a ludicrously cheap (in comparison) £676, rather than £2404.
Of course if you don't live in Surrey, your insurance is likely going to be more expensive. Switching from my quiet street in Surrey to Moss Side, in Manchester, whacks the cost to insure the Panda up from £676 to £2283. Partly I think because many insurers won't even quote for there. And for the GTI the cost goes from £2404 up to £5625.
So if your insurance is too expensive:
I just did a quick check for quotes on a MK4 GTI for a 19 year old in my postcode, and it came out as £4242 with £250 excess.
Putting the excess up to £1k reduces the premium to £3784, which is well worth it. Going to TPF&T does nothing to reduce the price.
Adding a 64 year old parent to the policy (not as main driver) reduces the premium to only £2404.
Which is still excessive, but not bad.
Adding 1 year's age/experience/NCD reduces the price:
No NCD: £2404
1 year: £1460
2 years: £891
3 years: £692 (or £673 with a telematics box)
4 years: £634
Anyway, very clearly the OP's first priority is to earn his 1 year's NCD. And get another driver named on the policy.
Switching from the Golf GTI to 05 plate Panda 1.2 Dynamic reduces the insurance cost to a ludicrously cheap (in comparison) £676, rather than £2404.
Of course if you don't live in Surrey, your insurance is likely going to be more expensive. Switching from my quiet street in Surrey to Moss Side, in Manchester, whacks the cost to insure the Panda up from £676 to £2283. Partly I think because many insurers won't even quote for there. And for the GTI the cost goes from £2404 up to £5625.
So if your insurance is too expensive:
- don't be living in Hackney or similar sthole
- don't be driving anything faster than a 1-litre city car
- don't be young
- don't be newly qualified/without a NCD
thelawnet said:
Postcode, age and car type are the biggest things. My insurance premium fell by 20% when I moved from Uxbridge (hardly Moss Side) to Surrey (I moved half way through the year, and they gave me a nice refund as a result).
I just did a quick check for quotes on a MK4 GTI for a 19 year old in my postcode, and it came out as £4242 with £250 excess.
Putting the excess up to £1k reduces the premium to £3784, which is well worth it. Going to TPF&T does nothing to reduce the price.
Adding a 64 year old parent to the policy (not as main driver) reduces the premium to only £2404.
Which is still excessive, but not bad.
Adding 1 year's age/experience/NCD reduces the price:
No NCD: £2404
1 year: £1460
2 years: £891
3 years: £692 (or £673 with a telematics box)
4 years: £634
Anyway, very clearly the OP's first priority is to earn his 1 year's NCD. And get another driver named on the policy.
Switching from the Golf GTI to 05 plate Panda 1.2 Dynamic reduces the insurance cost to a ludicrously cheap (in comparison) £676, rather than £2404.
Of course if you don't live in Surrey, your insurance is likely going to be more expensive. Switching from my quiet street in Surrey to Moss Side, in Manchester, whacks the cost to insure the Panda up from £676 to £2283. Partly I think because many insurers won't even quote for there. And for the GTI the cost goes from £2404 up to £5625.
So if your insurance is too expensive:
Great post! Adding a second additional driver could reduce them premiums even further, and moving the start date to the further possible time ahead even more so.I just did a quick check for quotes on a MK4 GTI for a 19 year old in my postcode, and it came out as £4242 with £250 excess.
Putting the excess up to £1k reduces the premium to £3784, which is well worth it. Going to TPF&T does nothing to reduce the price.
Adding a 64 year old parent to the policy (not as main driver) reduces the premium to only £2404.
Which is still excessive, but not bad.
Adding 1 year's age/experience/NCD reduces the price:
No NCD: £2404
1 year: £1460
2 years: £891
3 years: £692 (or £673 with a telematics box)
4 years: £634
Anyway, very clearly the OP's first priority is to earn his 1 year's NCD. And get another driver named on the policy.
Switching from the Golf GTI to 05 plate Panda 1.2 Dynamic reduces the insurance cost to a ludicrously cheap (in comparison) £676, rather than £2404.
Of course if you don't live in Surrey, your insurance is likely going to be more expensive. Switching from my quiet street in Surrey to Moss Side, in Manchester, whacks the cost to insure the Panda up from £676 to £2283. Partly I think because many insurers won't even quote for there. And for the GTI the cost goes from £2404 up to £5625.
So if your insurance is too expensive:
- don't be living in Hackney or similar sthole
- don't be driving anything faster than a 1-litre city car
- don't be young
- don't be newly qualified/without a NCD
Your best bet is to leave it.
Take the £500 that you would have spent on the car
Take the insurance money you would be happy paying on the golf each year (I'm guessing £3kPA as the quote was over £7,000 so half seems a price you would have been happy with)
I assume you still have no NCD so save for 5 years NCD so that's £15,500 after 5 years to go from a corsa to something considerably better than a golf. You could also add in the annual modifying and maintenance costs on an old golf and you could soon have a very tidy sum just for driving a corsa for a few years. Plus you'd certainly have a better car than most of your 24 year old mates when you get to that stage.
Take the £500 that you would have spent on the car
Take the insurance money you would be happy paying on the golf each year (I'm guessing £3kPA as the quote was over £7,000 so half seems a price you would have been happy with)
I assume you still have no NCD so save for 5 years NCD so that's £15,500 after 5 years to go from a corsa to something considerably better than a golf. You could also add in the annual modifying and maintenance costs on an old golf and you could soon have a very tidy sum just for driving a corsa for a few years. Plus you'd certainly have a better car than most of your 24 year old mates when you get to that stage.
ecsrobin said:
Your best bet is to leave it.
Take the £500 that you would have spent on the car
Take the insurance money you would be happy paying on the golf each year (I'm guessing £3kPA as the quote was over £7,000 so half seems a price you would have been happy with)
I assume you still have no NCD so save for 5 years NCD so that's £15,500 after 5 years to go from a corsa to something considerably better than a golf. You could also add in the annual modifying and maintenance costs on an old golf and you could soon have a very tidy sum just for driving a corsa for a few years. Plus you'd certainly have a better car than most of your 24 year old mates when you get to that stage.
This isn't what you want to hear. This isn't what you're actually going to do - but the man speaks sense!Take the £500 that you would have spent on the car
Take the insurance money you would be happy paying on the golf each year (I'm guessing £3kPA as the quote was over £7,000 so half seems a price you would have been happy with)
I assume you still have no NCD so save for 5 years NCD so that's £15,500 after 5 years to go from a corsa to something considerably better than a golf. You could also add in the annual modifying and maintenance costs on an old golf and you could soon have a very tidy sum just for driving a corsa for a few years. Plus you'd certainly have a better car than most of your 24 year old mates when you get to that stage.
By far the best use of your money, great man-maths there well done!
TwigtheWonderkid said:
snip
Price of car makes little difference. Most claims costs are for tp damage, so the cost of your car is largely irrelevant.
/snip
I wouldn't be surprised if there was some statistical correlation between the value of a car and how carefully people drive. If aged 17 I'd spent £5k of my hard earned (oh if I'd even had half that!) then I would probably have driven more carefully than I did in my £500 snotter.Price of car makes little difference. Most claims costs are for tp damage, so the cost of your car is largely irrelevant.
/snip
TVRJAS said:
I keep looking at those figures thinking you must of made a mistake..
£7730 And it gets worse when you say a £500 outlay.
The joys of getting old.
Totally agree! I paid £240 for fully comp on 25k business and personal miles on my old Audi S4 cab last year and got really pissed off when it went to £246 when I changed it for my 6 series BMW. £7730 And it gets worse when you say a £500 outlay.
The joys of getting old.
Pleasingly, my Land Rover insurance stays at £62 / year, regardless of how much I seem to change it from standard.
I am 40, though.
Edited by schmalex on Saturday 15th November 21:12
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