Insurance Myth?

[MrTom]

Ive been told a few times that new drivers can get a budget kit on a reasonable insurance premium?

Before i go hunting for quotes, has anyone tried to insure an average 17 year old on say a Dutton Phaeton 1.3/1.6 type kit?

Usual quotes for a eurobox is £1k-1.5k, so any quote on kit that is comparable would be great.

Any info would be a great help.

[Davi]

I can't tell you what's current, as I haven't been a new driver for a fair time, but when I was 17 my bog-standard-guttless-eurobox was costing £600 a year v's my UVA Fugitive kit cost around £300. I had also looked at Phaeton and Melos, was receiving similar quotes.

Edited by Davi on Sunday 29th July 21:37

[dugt]

I've got a GTM rossa mk2 1275cc and i pay £495 a year (just 3rd party) and im 18

which is a lot cheaper than everyone else i know who is a similar age paying around £1500 for a small engined clio

[MrTom]

Maybe not a myth afterall. Ill have to get some quotes them. cheers for the input

[Snake the Sniper]

Remember some (not all) of these polices will be limited mileage, classic type polices and may not accrue NCB. I know mine are like this, but since I have a normal car policy, I still get my NCB building up.

[Jonty99]

I had a Locust 7, when it was finished and I was paying £498 with a 1700 Cross-flow engine in it when I was 18.

[Jonty99]

Can I just add that at the same time they wanted £1100 for me on a 1.1i fiesta! Where's the sense in that. Fiesta 0-60 in 14 seconds..... Locust 7 0-60 in 6 seconds! Madness!

[Chris71]

Another kit owner here.....

Had my Quantum with extensive engine mods all honestly declared to the insurance company, insured full comp for £350 unlimited mileage when I was 19. At the grand old age of 24 I've been quoted about the same now for a V8 powered phaeton

[Jonty99]

Which company you got the quote for the pheaton with? I was thinking about a V8 pheaton for a track car but having it road legal. When I was getting quotes for the Veranti they checked it was below 2000cc or it would be sky high.... quite what is so much more special about 2001cc's over 1999cc's I have no idea. Probably just another case of insurance companies trying to rip people off!

[mk1fan]

Jonty99 said:

quite what is so much more special about 2001cc's over 1999cc's I have no idea. Probably just another case of insurance companies trying to rip people off!

They have to draw a line somewhere. Although there are profitable places to draw that line.

[Chris71]

mk1fan said:

Jonty99 said:

quite what is so much more special about 2001cc's over 1999cc's I have no idea. Probably just another case of insurance companies trying to rip people off!

They have to draw a line somewhere. Although there are profitable places to draw that line.

That would be Footman James I presume? I looked at doing exactly the same thing. Don't understand the cut off either, other than like mk1fan say's they'd have to pick a cut off point.

However, Adrian Flux would insure me on a V8 and their premiums are based purely on age and value, so a 1979 Phaeton worth £3k has the same premium whether it has a 998cc A-series, a Rover V8 or a Hayabusa engine in it!! Slightly silly, but works for me (if I go ahead with a silly engine)

It seems pinning down the risk of kit cars which have a huge range of basic specifications and an almost endless list of possible mods beyond that is deemed to big a job by the insurance companies, so they look for simple ways to generalise. Footman James do it on capacity alone, Adrian Flux on age and value alone etc.....