 | Home > Finance & Insurance > Adding recently-passed teenager to insurance |
 
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| Huttopia Member Since: 23 Feb 2016 Location: West Midlands Posts: 1972  
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Have you tried Henry at A Plan in Thatcham?
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20th Dec 2017 9:42am |
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| JJ Member Since: 18 May 2009 Location: Winchester Posts: 932 
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Unfortunately with insurance there isn't a magic way of doing it. What works for one person in one part of the country may not work for someone else in another part of the country. There are too many variables.
To insure my son on my 110 Td5 the best I could get was close to £5k per year  I pay, for myself and the wife £199 per year.
Most insurers were not interested. Annoyingly of course no comparison site covers the whole market so you do need to go through them all which is time consuming. Good luck. HR064 Hampshire and Berkshire 4x4 Response |
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20th Dec 2017 9:45am |
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| BLACK LAB Member Since: 07 Dec 2016 Location: AYRSHIRE Posts: 165 
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Best of luck pal getting any joy from insurance companies - Bunch of cnuts . 2006 DEFENDER 90 TD5 CSW XS
2018 RANGE ROVER SPORT HSE DYNAMIC |
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20th Dec 2017 10:07am |
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| X4SKP Member Since: 29 Nov 2013 Location: Berkshire Posts: 2295 
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Hello airborne
I looked at this some time back, as like you i'm with LV, and cover / price (with 79.9% NCD) is good ... but they just really didn't want to know about taking on new driver, (Test has been passed), they effectively priced themselves out of the market (IMO). Initially I was told she had to be 21 before they would even quote us, but this with a 'work around' did eventually get us a price, just not one that we could live with. Now having had two daughters pass, they both drive around in small Toyotas, both with black boxes fitted, both cars garaged, and we live in a 'good' postcode for crime, but still it's a 1K each... Buying the car is the easy bit... 
http://www.defender2.net/forum/topic32194.html? Anyway good luck...it took us some effort before we got to somewhere even remotely 'acceptable' (morethan-smartwheels) SKIP https://www.defender2.net/forum/topic83242.html |
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20th Dec 2017 10:16am |
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| donmacn Member Since: 06 Nov 2017 Location: Nth Scotland Posts: 1841 
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I'll keep an eye on this thread as I'm in a similar position.
Earlier this year I switched the LR insurance to the NFU. Quite happy with the quote for myself and my wife, including occasional business use. Then my son passed his test. NFU weren't interested in 'high risk' business. They said they might change their mind once I have more of a 'history' with them. I also looked at buying him a £1k Clio or something, but the insurance quotes were £1k/annum. I think it's just obscene profiteering to be honest. I realise that young drivers are a higher risk, but surely not to the extent that the insurance industry is hiking the premiums. I've only recently joined the forum, but I'll see how I get on with A plan once renewal time comes around. In the meantime if anyone comes up with any brilliant suggestions here I'll be very interested. Donald 1994 Defender 300Tdi 110 SW - owned since 2002 - 230k miles and going strong (The 'rolling restoration' or tinkering thread: http://www.defender2.net/forum/topic58538.html ) 2000 Range Rover P38 4.0L V8 in the past.. RR classic - fitted with 200Tdi 1984 RR classic - V8 with ZF auto box 1993 Discovery 300Tdi not to mention the minis and the Type 2 VW camper... |
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20th Dec 2017 11:31am |
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| X4SKP Member Since: 29 Nov 2013 Location: Berkshire Posts: 2295
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I did try A Plan at Thatcham...not that it matters, but they are close enough to me to sit in front of them if needed or If I thought it would help.
They were 2K PA initially 'improving' to 1.5K PA when 'pushed'...on a 4K Car (Telemetrics involved No Curfew Times) I get that younger (and older) drivers make up the majority of the 'bad insurance statistics', and that either could take a 2K Car out on the road and stick it into the side of a 100K Range Rover...and it's a big bill. But when I look back at the Vehicles I've had, never did insurance make me think twice, or infact influence my decision, it just feels just like another 'new world' order of things that the young have to deal with...? Trying hard not to 'merge' this thread into the 'Grumpy Old Man thread'...  SKIP
https://www.defender2.net/forum/topic83242.html |
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20th Dec 2017 11:55am |
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| JJ Member Since: 18 May 2009 Location: Winchester Posts: 932
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The cost of the car in this scenario ( young driver ) is irrelevant. The risk the insurers are taking on is how many people can a young person seriously injure in one go. In my example, a 9 seat station wagon my son could take 8 mates with him and roll it , the ongoing costs to the insurance company of that would be eye watering so I can see where they are coming from.
In insurance claims people cost big money. HR064 Hampshire and Berkshire 4x4 Response |
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20th Dec 2017 12:01pm |
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| miker Member Since: 13 Sep 2015 Location: Surrey Posts: 1763 
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JJ, that sounds like you're trying to apply logic to the situation! There's no rhyme nor reason behind insurance prices I'm convinced.
I pay virtually the same premium for my 2007 Diesel hatchback as I do for my 1999 defender. One has 5 seats, the other 9. One has airbags and pretensioners and crumple zones etc. The other is a defender. One will stop wet or dry fast enough to re-arrange your internal organs. The other is a defender. One is currently worth about £1700 if I were to sell it, and has a moderm alarm, immobilizer etc. The other is a defender! So how do they arrive at the same cost for both?! |
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20th Dec 2017 12:40pm |
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| X4SKP Member Since: 29 Nov 2013 Location: Berkshire Posts: 2295
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I'm more with miker on this...
It would be nice to think that an insurance actuary had analysed good data and then the underwriters had taken a 'measured view', with insurance companies then adding a 'reasonable margin' of profit, but no, I think this is much more an exercise in testing what the market will bear. Before I bought my Defender I checked to see what 15K of Modifications would do to the insurance premiums, so if I was to try and replace it 'like for like' would I be covered, would I be compensated for this additional value if lost. It gets complicated quickly as whilst my Defender was Valued at 'Market Price + 15K' I didn't pay that for it, it was closer to Market Value +10% ...not +50%. I hope I never have to test how good my Insurers are, on this example, I hope the wording of the Policy I have and 'in my mind' the agreement / value we reached will stand up if tested. My Premium wasn't loaded by 50% to cover this agreed increase in value, so maybe I'm 'exposed' here, I hope not. On the 'Number of People' issue, specifically, my 90 has been changed from a 4 'Safe' Seater to arguably a 'less safe' 6 Seater...the additional cost for this being +£8 PA on my Premium... SKIP
https://www.defender2.net/forum/topic83242.html |
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20th Dec 2017 1:18pm |
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| ken Member Since: 18 Aug 2009 Location: Banging Birds with my bitches !! Posts: 4328
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Its very simple its the third party costs that drive the prices up
We only have the blame culture to blame i.e. cash for crash Cost of the motor is nearly academic just look at the comp sites TPF&F and FC are basically the same unlike about 25 years ago  |
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20th Dec 2017 2:26pm |
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| AMBxx Member Since: 24 Jul 2016 Location: York Posts: 1029 
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When you take out life insurance, the insurance company has enough reliable data (death rates) to be able to produce a quote using maths.
For general insurance, the comparable data isn't as good - too many regional, vehicle and age variables to consider. Still comes down to two things: 1) Claim history (hence a company with few Defenders insured isn't going to be great) 2) Where does the underwrite fancy going on holiday this year. In the 'old days', insurance was a genuine 'shared risk', now it's more targeted so riskier people are penalised more. |
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20th Dec 2017 2:49pm |
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| custom90 Member Since: 21 Jan 2010 Location: South West, England. Posts: 20294
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Insurance - Again, a bloated industry which everyone gets poorer from but a select few become very very rich.
I couldn't care less what risk stats they have, they are millions and millions in profits after tax and with expenses removed too. You should have no prices above £1500 max, and the meerkat website maybe invaluable to you in this case. Compare the market ⭐️⭐️God Bless the USA 🇬🇧🇺🇸 ⭐️⭐️ |
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20th Dec 2017 4:09pm |
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