Car insurance for 21yo on a GT-R?

[Samjeev]

FredClogs said:

Wouldn't it be cheaper and easier to get him his own run around and get fully comp insurance on that - then he could drive any car 3rd party with the owners permission? Isn't that how it works?

Not if you're under 25 these days on most mainstream insurers. That clause is simply omitted from the insurance coverage document when compared to someone over 25 on the same insurer.

[Mafffew]

I'm somewhat surprised that absolutely no one would do it. I would have expected them to be extortionate but not getting any quotes back at all seems just odd to me.

[Thankyou4calling]

There must be companies that insure young people in fast cars, footballers for instance are often driving cars a lot pricier than a GT-R (not much faster though)

How much do they pay?

[Speed 3]

Thankyou4calling said:

There must be companies that insure young people in fast cars, footballers for instance are often driving cars a lot pricier than a GT-R (not much faster though)

How much do they pay?

Couple of hours wages

[Vaud]

Mafffew said:

I'm somewhat surprised that absolutely no one would do it. I would have expected them to be extortionate but not getting any quotes back at all seems just odd to me.

Someone will do it. But online tools don't have a field for "accompanied by owner/passenger" and are building a quote using algorithms and large data sets, which won't apply here.

[FredClogs]

Samjeev said:

FredClogs said:

Wouldn't it be cheaper and easier to get him his own run around and get fully comp insurance on that - then he could drive any car 3rd party with the owners permission? Isn't that how it works?

Not if you're under 25 these days on most mainstream insurers. That clause is simply omitted from the insurance coverage document when compared to someone over 25 on the same insurer.

Spoil sports.

[Thankyou4calling]

Speed 3 said:

Couple of hours wages

For some it will be!

However, I wonder what the premium would be for say a 19 year old Premier League footballer in a Lamborghini Aventador, bearing in mind his passengers will also likely be footballers, models etc.

They also seem to have quite a few cars on the go.

There must be specialists who deal with this.

Young singers etc too, Harry Styles the guy in one direction (I don't know his age) has a really interesting fleet of cars. His premium will be pretty hefty though I'm sure easily affordable.

[Vaud]

Rtype said:

The comment above is rubbish. Bespoke insurers & brokers will, if you speak to the right ones, offer you an accompanied driving warranty dependant on the young drivers experience.

You can get cover, without question, however, standard market and call centres pretending to be brokers are not going to help you.

I quoted recently, on a 4 vehicle fleet, a 22 year old on a 911 GT2 (accompanied driver), whole policy was £3990 for the 4 (included him named on a RS4)

I also quoted recently on a 3 car risk, a 21 y.o on a 599, Gallardo spider & gran turismo, whilst they were doing limited mileage in this case, I could get cover. You need a proper broker. Not a comparison rubbish policy.

I think the answer has been given. It can be done. And RType might be the man to contact...

[Rtype]

Speed 3 said:

I've never had any sense out of Flux and I'm 49.....

No insurance company is going to come up with a "designated passenger" policy as it don't make any difference to skills who's in the LHS (attitude a different matter). That's including fitting dual controls

Edited by Speed 3 on Wednesday 25th May 09:03

Wrong.

[Tuvra]

Thankyou4calling said:

Young singers etc too, Harry Styles the guy in one direction (I don't know his age) has a really interesting fleet of cars. His premium will be pretty hefty though I'm sure easily affordable.

I'm pretty sure I read years ago that Lee Ryan (pop band Blue) was paying £19k a year to insure a C4S cab at the age of 19 circa 2003

[Thankyou4calling]

Tuvra said:

I'm pretty sure I read years ago that Lee Ryan (pop band Blue) was paying £19k a year to insure a C4S cab at the age of 19 circa 2003

With Lee Ryan I can believe that! He was the sort you who would struggle to be claim free and wasn't known for being the shy retiring type.

[Shakermaker]

Thankyou4calling said:

There must be companies that insure young people in fast cars, footballers for instance are often driving cars a lot pricier than a GT-R (not much faster though)

How much do they pay?

I wouldn't be surprised if they have a specialist "car" person employed either with the club or their management agency though to sort all that out for them.

"Oh, Mr Rooney, you want a new Aventador, fine yes we'll sort that out don't worry" and then a couple of weeks later he has an Aventador or whatever he's gone for.

Yes he will pay for it but I wonder that is rather more grouped together than that?

I could be wrong. But sounds like exactly the kind of niche job someone has made for themself.

[MrBarry123]

I think the problem here may be adding him as a named driver, not his age i.e. if he was the policyholder, you'd probably be okay.

When I got my current car I was 21 and, having played around with the online tools, found out that I could insure a GT-R for approximately £1,900 however that was with me as the policyholder.

As such, I think you'll struggle with him as a named driver on any quickish car (let alone a GT-R).

[hoppo4.2]

You will need to look at specialist brokers. Find a local guy go and see them and they can speak directly to the underweighters on your behalf.

You will get cover however it may be so expensive that it's just not worth it or you might just be surprised.

I managed to get my first tvr insurance for 550 at 21.

I do think that the value of your car may be the big problem.

[Vaud]

hoppo4.2 said:

I do think that the value of your car may be the big problem.

Really? Car value is a pittance compared to the real risk that is being insured - risk of injury to others.

[Tuvra]

Thankyou4calling said:

Tuvra said:

I'm pretty sure I read years ago that Lee Ryan (pop band Blue) was paying £19k a year to insure a C4S cab at the age of 19 circa 2003

With Lee Ryan I can believe that! He was the sort you who would struggle to be claim free and wasn't known for being the shy retiring type.

He apparently bumped it while learning to drive in it

http://www.thesun.co.uk/sol/homepage/news/159421/L...

[Shakermaker]

Vaud said:

hoppo4.2 said:

I do think that the value of your car may be the big problem.

Really? Car value is a pittance compared to the real risk that is being insured - risk of injury to others.

This is what always makes me chuckle when people say anything about insurance for young people on a "really cheap car"

"But the car only cost £500 why is it costing me £2,000 to insure my son?" -

[AyBee]

Often wondered whether there was a market for a new category of car insurance which depends on who is in the car. I'd imagine someone young driving a car with the owner in the passenger seat is much less risk than someone young driving the car on their own. I've wanted to let my brothers drive my car with me in the passenger seat and I'm sure they'd drive like miss daisy so would be much less of a risk than if the car was theirs

[Rtype]

Vaud said:

hoppo4.2 said:

I do think that the value of your car may be the big problem.

Really? Car value is a pittance compared to the real risk that is being insured - risk of injury to others.

Vaud is correct, the value is certainly not as prominent as you think, although in some situations it is, I've recently had a client claim for what he thought was small damage, but total cost is now at £65,000 for his vehicle which hasn't written it off.

These are really theft attractive vehicles right now and are very much targeted.

Regarding the GTR, my questions would be firstly, what is the existing experience of the young driver? a civic type R, lotus elise, Boxster just wont cut it frankly, then to follow, if experience is sufficient, a quote is easy.

[Rtype]

Nanook said:

Rtype said:

Vaud is correct, the value is certainly not as prominent as you think, although in some situations it is, I've recently had a client claim for what he thought was small damage, but total cost is now at £65,000 for his vehicle which hasn't written it off.

These are really theft attractive vehicles right now and are very much targeted.

Regarding the GTR, my questions would be firstly, what is the existing experience of the young driver? a civic type R, lotus elise, Boxster just wont cut it frankly, then to follow, if experience is sufficient, a quote is easy.

If he can pedal a Boxster and an Elise well, he can handle a GTR.

This is why I wouldn't insure you. Dreaming if you think they are comparable.