£5k to insure a car worth £700 - they're having a laugh

[corskey]

The lad turns 18 in a couple of months and as he has saved up enough to buy his first motor we said that we would pay for his insurance. We spent the day looking for a sub £1k motor and he settled on a W reg Peugeot 104. I've spent the afternoon trying to get insurance and the best I could get for fully comp is close to £5k . Cheapest third party was a couple of grand more - what's that all about!!

We cannot even put the car in our name and add him as an insured driver as we both have our own cars (and anyway he should have the opportunity to be building up his no claims bonus.

It's no freakin wonder that people decide to drive the streets with no insurance if this is what the insurance companies expect an 18 year old to pay..

So do any of you guys on here have any suggestions on how we can get him legally insured and allow him to start building up some NCD history??

[Over Carl]

I'm guessing you mean the 106 rather than 104? What engine? There seems to be various from 1.0 - 1.6 and insurers don't like young kids with "large" engines.

[corskey]

Update- Endsleigh have just e-mailed me their quote


Thank you for choosing Endsleigh for your motor insurance quote.

We are pleased to confirm our price of £11,170.20 based on the information you have provided.

If you wish to change your details or pay online to get cover for the date you need just click the link below

[corskey]

I'm guessing you mean the 106 rather than 104? What engine? There seems to be various from 1.0 - 1.6 and insurers don't like young kids with "large" engines.

yep - you are right it's a 106 (my first car was a Peugeot 104 - ah nostalgia) and the engine is only a 1.2, not the fastest motor in the world

[Over Carl]

I remember going through this when my little sister passed last year a few days before her 25th birthday. She had her heart set on driving immediately but it quickly transpired she would definitely be better off waiting until her bday.

We had got a little civic 1.4 for her but had to get rids as the best quotes we were getting for that were around £2500 tpft. Just for a laugh I got her a quote on an alfa 156 2.5 which was £100 less than the civic! In the end I found an almera 1.4 for her that cost something like £1200 to insure tpft.

[lloydi]

That does not sound right somewhere, chap at work is 18 and got a y reg saxo vtr insured for 2500, I would have expected that to be a shed load more than a 1.2 pug

[Zippeyrude]

low car value also increases the premium imo

i took out a days cover note and they would only insure cars that were £1500 and more.

perhaps they thing that ppl in old bangers are more likely to care less and crash more..?

[Undertaker]

chop his balls off and then insure through insurepink or some thing similar,

alternatively try looking for quotes on a newer car, that 100 pounds a month insurance soon adds up,

[Mobileman]

low car value also increases the premium imo

i took out a days cover note and they would only insure cars that were £1500 and more.

perhaps they thing that ppl in old bangers are more likely to care less and crash more..?

yep and use them for crash for cash claims

[BigBrand]

Nothing stopping you putting it all on your name, zero ncd and adding him as a second driver nominated main user

[rIKmAN]

You coudl also try adding yourself and your missus as additional drivers on his policy, my sister has just done this (adding me and my dad) and it bought her premium down a few hundred quid.

...and maybe look at PassPlus, and saying yes when they ask if he would be willing to have a device in the car to monitor his driving.

[Oily]

Try the Co-Op
http://www.co-operativeinsurance.co..../Insurance-Car
Or IKube
http://www.ikubeinsurance.com/

[consoles]

insurance is a joke, for my 2006 Skoda Superb 2.0 TDI without the mrs is £1080 with the mrs who only passed her test 2 yrs ago brings it down to £611.
I also have a Skoda Fabia W reg which she drives in my name her as named driver and that's £720 her without me £1600+

postcode also has a major effect on insurance Bradford postcodes are almost double anywhere else apparently.

[darkstar]

Yep insurance is stacked against the young badly I remember when I was young it was about £300 tpft for a datsun 120y .. Just bought a 17 grand focus zetec 1.0 ecoboost and it's £500 fully comp protected

[ivrytwr3]

why are you going fully comp on a £700 car?

[BigBrand]

As its cheaper than tpft!!!!

[pctuner1984]

Try this nw Black box insurance that has a GPS installed in your car I've heard it makes a hell of a difference. Try Liverpool Victoria

[Mr Men]

Try this nw Black box insurance that has a GPS installed in your car I've heard it makes a hell of a difference. Try Liverpool Victoria

+1

[trueblue924]

i have been told a company called chaucer is good, but the excess is silly something like a couple of grand or something but the premiums really cheap

[prezzy]

Try this nw Black box insurance that has a GPS installed in your car I've heard it makes a hell of a difference. Try Liverpool Victoria

Nothing new I was offered this about 8 years ago after I had had a crash they was gonna charge me extra every time I went over the speed limit - fuck that