Discussion
this is my first post. i'm a HGV driver, i work throughout europe and asia. i have to fix my own truck most of the time, so i know my way round an engine. if i can help anyone out with some advice then i will.
the main reason i joined pistonheads is because of something that cropped up today.
two of my sons mates have got an old mini each, they've only just started driving. so they brought them round so i could do a couple of jobs for them.
anyway, i couldn't believe it when they said they'd just paid £3000 each for insurance.
that sounds like a complete rip off to me.
you can get a car insured at 18 in holland for less than 600 euros.
is this prety normal nowadays for young drivers to pay such high prices?
i know of a company that does third party insurance for £1000 to anyone with a full licence.
i won't post a link as it could be against the forum rules.
phil.
the main reason i joined pistonheads is because of something that cropped up today.
two of my sons mates have got an old mini each, they've only just started driving. so they brought them round so i could do a couple of jobs for them.
anyway, i couldn't believe it when they said they'd just paid £3000 each for insurance.
that sounds like a complete rip off to me.
you can get a car insured at 18 in holland for less than 600 euros.
is this prety normal nowadays for young drivers to pay such high prices?
i know of a company that does third party insurance for £1000 to anyone with a full licence.
i won't post a link as it could be against the forum rules.
phil.
europhil said:
you can get a car insured at 18 in holland for less than 600 euros.
is this prety normal nowadays for young drivers to pay such high prices?
i know of a company that does third party insurance for £1000 to anyone with a full licence.
i won't post a link as it could be against the forum rules.
phil.
Sadly, it would be a bugger commuting from the Netherlands is this prety normal nowadays for young drivers to pay such high prices?
i know of a company that does third party insurance for £1000 to anyone with a full licence.
i won't post a link as it could be against the forum rules.
phil.
Three grand is a little high, but more or less on the mark. Glad I'm on the downwards slope.
europhil said:
t
i know of a company that does third party insurance for £1000 to anyone with a full licence.
It's not against rules if it is for discussion. You aren't naming and shaming or advertising.i know of a company that does third party insurance for £1000 to anyone with a full licence.
I suggest you post it with something like:
"Company xx suggts they can insure any driver for £1k, any experience - any one else used them? What are the catches?"
McHaggis said:
It's not against rules if it is for discussion. You aren't naming and shaming or advertising.
I suggest you post it with something like:
"Company xx suggts they can insure any driver for £1k, any experience - any one else used them? What are the catches?"
the catches are:I suggest you post it with something like:
"Company xx suggts they can insure any driver for £1k, any experience - any one else used them? What are the catches?"
excess £500
third party only.
make a claim, and they won't re-insure you.
max 1.2 litre
pay up front, no monthly payments.
it's pretty much the most basic insurance there is. but it gets them on the road.
europhil said:
the catches are:
excess £500
third party only.
make a claim, and they won't re-insure you.
max 1.2 litre
pay up front, no monthly payments.
it's pretty much the most basic insurance there is. but it gets them on the road.
Bullsexcess £500
third party only.
make a claim, and they won't re-insure you.
max 1.2 litre
pay up front, no monthly payments.
it's pretty much the most basic insurance there is. but it gets them on the road.
t. No such insurance company exists in the UK. There are no fixed price insurers.I know the cost topic comes up a lot but the reason is that insurers pay put a bloody fortune in third party claims. Whether you're driving a 1982 fiesta popular plus or a Veyron they both do kit as much damage if you hit another car or pedestrian. Young driver crash a lot more frequently than experiences drivers and also do a lot more damage cause a lot more injury. Remember a car full of mates will happily sue for injury if you stick it into a wall without any other vehicles being involved.
I've never understood this "insurance is rip off industry" point of view. It is a free market like any other in this country. Does anyone believe that if it were possible for a company to insure young drivers for £500 a year and make money that there wouldn't be some offering this? They'd have every driver under 25 on their books and they'd be raking it in.
Or do you think that every director of every insurance firm has got together and formed a cartel to artificially inflate prices?
Or do you think that every director of every insurance firm has got together and formed a cartel to artificially inflate prices?
BrewsterBear said:
I've never understood this "insurance is rip off industry" point of view. It is a free market like any other in this country. Does anyone believe that if it were possible for a company to insure young drivers for £500 a year and make money that there wouldn't be some offering this? They'd have every driver under 25 on their books and they'd be raking it in.
Or do you think that every director of every insurance firm has got together and formed a cartel to artificially inflate prices?
Quite. Insurance companies are hardly raking it in; their profits are in the single figure percentages, when they make a profit at all. Or do you think that every director of every insurance firm has got together and formed a cartel to artificially inflate prices?
I'm now 20, driving since I was 17, no accident/claims no points.
My car insurance increases dramaticly each renewall.
I currently pay just over £3000 for my 3RD year of driving as a NAMED driver, for a car that cost £600.
I think it's sick.
I wish more was done to discriminate between young reckless drivers and those who just want abit of independance.
My car insurance increases dramaticly each renewall.
I currently pay just over £3000 for my 3RD year of driving as a NAMED driver, for a car that cost £600.
I think it's sick.
I wish more was done to discriminate between young reckless drivers and those who just want abit of independance.
kambites said:
Quite. Insurance companies are hardly raking it in; their profits are in the single figure percentages, when they make a profit at all.
This post and the last one are a breath of fresh air to read. However just for clarity motor insurance as a standalone line business is a loss maker and has been for the past decade. To avoid the usual post around Admiral. They're results are propped up by confused.com and the potentially excessive release of reserves alongside their over reliance on referral fees. For the last bit see what happened to their share price when the govt announced a ban on referral fees.
Other insurers do not report their motor insurance separately I their results and are huge composites and / or multinationals with 100s of different lines of business. They are all gradually reducing their exposure to the UK market and / or increasing prices significantly.
As we all move to a technical price rather than the marketing price we've enjoyed for so long then we'll all see just how expensive car insurance really is.
alternatively
Road Traffic Act 1988
144 Exceptions from requirement of third-party insurance or security.(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 [F3 Senior Courts] the sum of [F4 £500,000], at a time when the vehicle is being driven under the owner’s control.
Road Traffic Act 1988
144 Exceptions from requirement of third-party insurance or security.(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 [F3 Senior Courts] the sum of [F4 £500,000], at a time when the vehicle is being driven under the owner’s control.
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