18 Year Old - BMW Insurance

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nickcowen said:

Insurance is rip of at the moment. I'm 25 been driving 6 years 3 year NCB never had a crash. Have three points drive a 05 BMW 318 M sport and the insurance I 1600. have had the car 2 month and the insurance on my old car a 56 1.2 grande punto was over a grand.

I agree that owning a car at that age will be great but insurance cost is just money you will be throwing away. You'll look back in a couple year and think if only I hadn't wasted all that money I could buy this or that.

Do you have a Manchester postcode or something? Those prices are insane!

[otolith]

LiamB said:

My thoughts are OP is going to have to sell it, or be illegal.
This song seems suitable;

http://www.youtube.com/watch?v=fw0wE5Kzq3Y

I expected that to be this;

http://www.youtube.com/watch?v=fZOlL6pPq4E

[anonymous-user]

nickcowen said:

Insurance is rip of at the moment. I'm 25 been driving 6 years 3 year NCB never had a crash. Have three points drive a 05 BMW 318 M sport and the insurance I 1600. have had the car 2 month and the insurance on my old car a 56 1.2 grande punto was over a grand.

I agree that owning a car at that age will be great but insurance cost is just money you will be throwing away. You'll look back in a couple year and think if only I hadn't wasted all that money I could buy this or that.

I don't understand why it is so much for you at that age!? I'm 20, have a south London postcode and only two years Ncb and can insured on a remapped 500 odd bhp Rs6 for less than you pay for that 325. I take it that you don't do any shopping/haggling and just take whatever a comparison site throws at you?

[ajb85]

rallycross said:

StottyZr said:

All the traders policies I've looked at state you need to be 23 and above and even then they impose limitations. I thought the only way would be to front it and have the policy in an older relatives name with you addition driver.

This is correct as far as I know there are no trader policy's available for youths (as policy holder), never have been and unlikely to ever be any due to the risk.

I've had a traders policy for a year, and am now 26. £700 allows me the privilege of jumping into most cars with an indemnity of up to £20,000. By virtue of my age, there is a small list of exclusions, namely Ferrari and Maserati, and some rarer cars that are hard to value should I make a claim, e.g Bristol and Alvis. As I generally trade bread-and-butter Renault Clios, Peugeot 206, Audi A4s and the like, unfortunately I can't see a Bristol crossing my path any time soon!

If you think that you should be able to ligitimately obtain a traders' policy, it's well worth looking into. I have to admit, amongst all the things I have to pay for associated with my trading; my trade insurance policy isn't bad value, nor are the trade plates - at £180 p.year they're invaluable. I don't think you can just be in any 'trade' however, as one member suggested. Unless your trade is logistics, m.o.t testing, motor engineering or car sales I don't think you can qualify. 'Block' policies are the next best thing for car enthusiasts, I'm sure a lot of people on here with multiple cars on their drive have one.

[bigricho]

Why is everyone getting bent out of shape by an 18 year old with a an E60 5 series? Its not exactly a Lambo is it? Just perusing the classifieds sees they can be had for as low as 5k.

[ADM06]

ZesPak said:

We understand, here's a logo that will represent the relationship between you and your insurer.

Although you are quite right and that website is extremely funny, here is a logo that puts me in mind of you using that logo.

[McHaggis]

bigricho said:

Why is everyone getting bent out of shape by an 18 year old with a an E60 5 series? Its not exactly a Lambo is it? Just perusing the classifieds sees they can be had for as low as 5k.

Personally not bent out out shape at all.

An 18 year old can own an R8/M3/911 as far as I'm concerned. Fair play to those that have saved/made money to buy them.

I'm just surprised that they then find them difficult/expensive to insure [and therefore too expensive to run] with a policy that isn't covered by a relatives business...

[Sump]

I had a 2004 330d at 18. I got in it a month after my 18th birthday. At 17 I had a Mazda6 2.0d. At 21 I got a 2007 330i, didn't like it and changed it after 4 months for a 2003 530i.

The worst damage I did was kerbing my 330ds alloy when I wasn't watching what I was doing. Never had an accident in any of these BMWs aswell. Nor have I been caught speeding.

Problem?