19 Year Old looking to get insured on an Audi R8 4.2!
Discussion
Pioneer said:
addictive said:
So let me get this straight - If you have over £500k in the bank, you do not need insurance??
I've never heard of this? Surely it would have to be deposited somewhere? It could be in your account one day but not the day you need it? And why would you rIsk half a mill for the sake of a few grands insurance? The only 'self insurance' I have heard about is for example large businesses such as supermakets who don't insure for loss of profits as the cost of covering all their stores means they are better off even if they lost one or two overnight....@ 144 1)
Chr1sch said:
I know of a 21yr old who drives one, his dad has a trade policy where anyone can drive it....
Someone told me about a 'trade policy', not too sure how these work.So my dad has a trade policy on my R8, and anyone would be able to drive on it right?
Does my dad need any requirements to have a trade policy?
addictive said:
So let me get this straight - If you have over £500k in the bank, you do not need insurance??
Nope. If you have deposited in 'their bank' as a surety you are effectively self insured. But you are insured- insurance is a legal requirement. Anyway, you skipped my simple question? Which '1.8 SLK' ?TVR1 said:
addictive said:
So let me get this straight - If you have over £500k in the bank, you do not need insurance??
Nope. If you have deposited in 'their bank' as a surety you are effectively self insured. But you are insured- insurance is a legal requirement. Anyway, you skipped my simple question? Which '1.8 SLK' ?And I replied to your message, scroll up to see^^
But it's SLK 200k
TVR1 said:
addictive said:
Someone told me about a 'trade policy', not too sure how these work.
So my dad has a trade policy on my R8, and anyone would be able to drive on it right?
Does my dad need any requirements to have a trade policy?
I'm oot.So my dad has a trade policy on my R8, and anyone would be able to drive on it right?
Does my dad need any requirements to have a trade policy?
Half term finishing soon?
Pioneer said:
addictive said:
Someone told me about a 'trade policy', not too sure how these work.
So my dad has a trade policy on my R8, and anyone would be able to drive on it right?
Does my dad need any requirements to have a trade policy?
Forget that unless your dad is a genuine motor trader, which guessing he isn't otherwise that would be the first thing you would try.So my dad has a trade policy on my R8, and anyone would be able to drive on it right?
Does my dad need any requirements to have a trade policy?
Trade Policies - you can get one of these if you're a registered business working in the motor trade (you'll need to show paperwork and possibly trade references too). They are not a cheap way of insuring cars tho - they come with a load of gotchas and excesses and rules on who can drive, what they can drive, how far they can drive it, when, why and where the car is stored and so on and so on.
I know someone who trades cars (owns 3 pitches - sells dozens of cars a week) and his son (26 now - works as a salesman in the business) has driven his own personal Mitsi Evo for the last 6 years courtesy of it's cover. I believe the annual premiums are in excess of £8K and there are massive excesses on almost every possible thing you could claim for (and a total value limit of £50K on any car).
There are insurers who will insure anyone on anything - I know a 19-year-old who found insurance for his R33 GTS-T for about £4.5K a year - but we are talking silly money, massive excesses and allsorts of other limitations.
I think you'd have to be stupid to waste money like that, but if you really, really want to spend thousands just to legally drive a flashy car then such companies exist - check for specialist brokers advertising in the flashier car mags/aspirational mags and Sunday papers...
p.s. self-insuring requires the depositting of the cash and you could easily lose the lot if you hit someone and put a couple of people into hospital (indeed they could come calling for quite a bit more) - it's a silly idea.
Just pick a sensible car and build-up some NCB like everyone else does - you'll only appreciate quick cars if you've owned some slow and s
tty ones 
I know someone who trades cars (owns 3 pitches - sells dozens of cars a week) and his son (26 now - works as a salesman in the business) has driven his own personal Mitsi Evo for the last 6 years courtesy of it's cover. I believe the annual premiums are in excess of £8K and there are massive excesses on almost every possible thing you could claim for (and a total value limit of £50K on any car).
There are insurers who will insure anyone on anything - I know a 19-year-old who found insurance for his R33 GTS-T for about £4.5K a year - but we are talking silly money, massive excesses and allsorts of other limitations.
I think you'd have to be stupid to waste money like that, but if you really, really want to spend thousands just to legally drive a flashy car then such companies exist - check for specialist brokers advertising in the flashier car mags/aspirational mags and Sunday papers...
p.s. self-insuring requires the depositting of the cash and you could easily lose the lot if you hit someone and put a couple of people into hospital (indeed they could come calling for quite a bit more) - it's a silly idea.
Just pick a sensible car and build-up some NCB like everyone else does - you'll only appreciate quick cars if you've owned some slow and s
tty ones Edited by johnpeat on Sunday 19th February 03:24
addictive said:
I WISH my parents would buy an R8 for me..
But I decided to get off my ass at a young age and started a company, which generates substantial amounts of profit every day - Thats enough about me..
Most people are jealous, even my friends - What can ya do!!
Jammy git! I started my own business that was doing quite well and thought i was lucky to have a banger of a T reg Merc' E200!But I decided to get off my ass at a young age and started a company, which generates substantial amounts of profit every day - Thats enough about me..
Most people are jealous, even my friends - What can ya do!!
addictive said:
otolith said:
I believe the current amount is half a million.
So let me get this straight - If you have over £500k in the bank, you do not need insurance??
(1)Section 143 of this Act does not apply to a vehicle
owned by a person who has deposited and keeps
deposited with the Accountant General of the [F3Senior Courts]
the sum of [F4£500,000], at a time when the vehicle
is being driven under the owner’s control.
but you would have to be pretty daft not to have it unless the premium was close to the cars value or you have so much money you don't care that some uninsured chav wrote it off whilst jumping a red light drunk
M3333 said:
Kong said:
Some very jealous people on this thread.
Pathetic isn't it.OP - Have you tried an Audi based owners club and asked who they would advise to contact? Good Luck.
I find it very sad that people get so pented up and jealous over materialistic assets.
ds on here taking into account that 99.9% of posts like this by new posters late on a saturday night are alcohol fuelled billy bull s
ters 
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