Insurance mystery

[E31Shrew]

Have a multicar policy with Admiral which has always been competitive. Currently covers wifeys Alfa 147 and a 51 plate MINI One [ value about £1800.00 ] Was planning to add my BMW 840 and a Mazda Bongo Camper van thingy, when these are up for renewal in early 2013.
However I called them last night to see how much it would be to add my youngest daughter, a provisional licence holder, to the MINI policy. I was quoted, bear in mind this is until March 2013, an extra £550.00! Obviously she will only be in the car with me and is currently having lessons with an approved driving school.
Have decided as I work for a MINI dealership to get rid of the old MINI and buy a new MINI One Diesel, for the princely sum of about £16000.
Quote for all members of the family to use it, including another daughter, wifey and me, plus youngest on the provisional, was £528.00 for the year.
It was also with Admiral...
Do they just put a finger in the air and see what they might get away with?
Confused
ETA The older MINI is a 1.6 petrol so I guess its all down to 'insurance groups'?

[Greengecko]

How many new drivers will be able to afford a new mini? And how many would want a diesel at that?

All about risk factors, based on statistics. Older petrol mini's are quite popular with the young female crowd also.

[tbc]

complaining about paying an extra £550 quid

then splurging £16k on a new MINI



jog on

[DukeDickson]

tbc said:

complaining about paying an extra £550 quid

then splurging £16k on a new MINI



jog on

Have to agree. There's also the pain of paying 528 English pounds for a car with 4 drivers, including someone on a provisional .


OP - If you had my postcode, you'd weep salty tears.
I pay nearly double that as a hurtling towards 40 chap who's been an IAM member for more than 20 years with the only other driver being an old bloke, not a young girl without a licence, amongst others. Anything more interesting than a recent hot hatch would see a bill of £1,500+.


Be thankful & pay up, since it doesn't sound that bad to me.

Edited by DukeDickson on Sunday 30th September 03:08

[Baryonyx]

tbc said:

complaining about paying an extra £550 quid

then splurging £16k on a new MINI



jog on

Quite right. You feel quite happy to come in here and slag off Admiral for charging a fairly reasonable amount to insure your daughter. You then say you're going to blow £16,000 on a new Mini. Bore off and pull the other one. £500 is money down the back of the sofa when you're prepared to blow £16K for no real reason. Instead of bhing about Admiral covering their own risks, try buying a cheaper car to offset the balance. I bet loads of young lasses have binned Minis at considerable cost to insurers over the years. If you're really upset about the cost, go and buy an early 90's Volvo and insure her on that. Not many of those crashed by young girls!


Also, I rarely step in to defend insurers but Admiral have been more than accommodating to me when doing business with them. A very reasonable price to insure my Audi A8 4.2 with 3 years NCB. A small surcharge to run my Impreza parallel to my Audi whilst I was selling it. No admin charge for changing policy details. Reasonable breakdown cover that they refunded to me the last time I called, after noting that I hadn't used it when I explained I now got free cover as part of me and my wife's joint account. That was an extra wad of cash back in my pocket that covered the cost of the Impreza's insurance whilst I sold it. I can assure you that few insurers would do that for you. You could do much worse than Admiral.

[Jon999]

Admiral wanted £900 for putting my gf in a 2.5 turbo Mondeo (220hp). We switched it for a cooper d mini and they first wouldn't insure her then secondly after escalation said they'd cover it for an extra £500. Crazy. Suppose more girls crash minis than mondeos.

[E31Shrew]

I wasnt 'slagging' admiral off as have always been happy with them! Just curious as to why its £1500 a year to insure us all in a nail of a mini worth naff all and £528 a year for a new one?

[milu]

E31Shrew said:

I wasnt 'slagging' admiral off as have always been happy with them! Just curious as to why its £1500 a year to insure us all in a nail of a mini worth naff all and £528 a year for a new one?

Does seem a bit odd although as you say ,can insurance co,s ever be understood?

Oh and some amazing missing the point by other posters!

[Benbay001]

Admiral are one of few insurers that will insure young drivers cheaply. And i can assure you fewer brand new minis are crashed. So statistically a much safer car. But really... spending £16K to save £100. Wow.

[xRIEx]

E31Shrew said:

I wasnt 'slagging' admiral off as have always been happy with them! Just curious as to why its £1500 a year to insure us all in a nail of a mini worth naff all and £528 a year for a new one?

People give less of a st about stty old cars compared to shiny new ones, and statistics suggest they drive accordingly.

[Cemesis]

I suspect that statistically, people are more likely to take car of a new car than a 10 year old one? Even new female drivers will probably be careful as they don't want to prang it but when its old, they care less.

[E31Shrew]

Benbay001 said:

Admiral are one of few insurers that will insure young drivers cheaply. And i can assure you fewer brand new minis are crashed. So statistically a much safer car. But really... spending £16K to save £100. Wow.

Almost! Selling the 840,alfa and old mini. 3 year deal at 3.9% apr on the new one. Road tax alone for the other 3 was in excess of £700 whereas the new mini is free.Just had enough of continually paying out to keep the bmw and alfa on the road.
Thanks for all advice!

Edited by E31Shrew on Sunday 30th September 10:26

[barker22]

E31Shrew said:

Almost! Selling the 840,alfa and old mini. 3 year deal at 3.9% apr on the new one. Road tax alone for the other 3 was in excess of £700 whereas the new mini is free.Just had enough of continually paying out to keep the bmw and alfa on the road.
Thanks for all advice!

Edited by E31Shrew on Sunday 30th September 10:26

So I take it that the other cars are basically 'toys' then, because one car between 3 people can get very interesting when everyone 'needs' it at the same time. Spending 16k and then realising that actually you need another one can be a very costly mistake, especially if the initial decision was to save money.