Insurance on first car

infernox

infernox

infernox

Soldato
Joined
25 Feb 2010
Posts
3,219
Location
England
Well, Im 18 in 2 weeks and should be getting some money together to get my self a car, but as i have a job my parents say im paying for the insurance,

but i have been looking around on insurance websites and all, and the lowest quote i could find for a cheap 1.1 litre was £2600 a year, at first i just thought W*F but now i need to know what to do ?

What do i do ?

1: pay all my yearly wages for the insurance ?
2: try to get myself on my dad's insurance ?
3: learn in a provisional license with my car in hope it will go down next year ?
4: give up and get public transport everywhere ?
 
It depends if you want to be the policy holder on your own car and earn no claims bonus, which will lower the cost of your insurance in years to come, or be a named driver on your parents’ car and earn no NCB.

You're not supposed to be a named driver on an insurance policy if you are the main driver, so if you buy a car you should be the policy holder not your dad.

I personally went on my parents insurance for a couple of years and used my mum's car until the insurance quotes were more reasonable. The NCB earned having your own policy doesn't outweigh the extortionate cost when you are a young driver.
 
infernox said:
1: pay all my yearly wages for the insurance ?
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No, search around for a better quote, or indeed try another car, or both.
infernox said:
2: try to get myself on my dad's insurance ?
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No, but add both your parents (assuming you have both) to your insurance quote.
infernox said:
3: learn in a provisional license with my car in hope it will go down next year ?
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Provisional quotes are generally cheaper than first year full license quotes.
infernox said:
4: give up and get public transport everywhere ?
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Not just yet.
 
what paradigm said.

Don't just give up though, get your licence no matter what, your insurance quotes will go down over time just by holding a licence, even if you've never used it.
 
There are cars that are dead cheap to insure. It depends what the 1.1 was. You can get insurance for about £1000 - £1500 thrid party etc. Set your sights low and buy a car which is in good nick but old like a old corsa etc.
 
I paid around 2k for mine last week, tried everything to get it cheaper. Guess you just have to either accept it or not bother
 
Where are you based mate? chances are your postcode is having something to do with it as well.

When I was looking round for my first car, I had quites very similar to yourself.

For the record, I searched for 3 weeks solid, on around 20 different cars of varying performance/age/brand etc.

Quotes from 1.1 L reg fiestas, to Nissan micras, to the likes of Rovers, escorts, old golfs etc.

I ended up getting a 1.8TDI Ford Focus. Why? because the quotes I was getting on the 1.1 fiestas / corsa's etc were coming in at the CHEAPEST of £2010 with a £650 excess including parents as named drivers.

The quote for the Focus? £2150 fully comp, with £500 excess.

A similar thing happened to a friend of mine when he passed as well. Its not so much the car chosen thats the issue (obviously within reason) but more the fact your a young male who has just got his license.

In short, your not really going to get a much cheaper quote on anything. You COULD go on your parents policy as a named driver (not legal) for a few years. However my insurance policy after the first year dropped to £1000, then £800 the year after (no accidents, 2 years NCB) so building up your NCB as soon as possible IS worth it.
 
sucks doesn't it, back when I was 16 and I first passed my test I was paying 5 times the value of my car for insurance (it was a 1.4L proton though lol)
 
ubersonic said:
sucks doesn't it, back when I was 16 and I first passed my test I was paying 5 times the value of my car for insurance (it was a 1.4L proton though lol)
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Wow, that's helpful. You do realise that insurance costs are based on the value of the damage YOU could cause, not the cost of replacing just your vehicle?

Postcode is the biggest factor in insurance, IME.
 
what car are you buying?

my first year on a 1.2corsa sxi was £1600 (fully comp on my own )- direct line
 
Why do you insist on fully comp on your first ( cheap ) car, won't you save the cars price in a year if you go tpft instead ? Especially with 500 excess...

I think that unless I'd buy a car worth 4000+, I wouldn't even think of FC, 3rd party only or tpft if it's only a tenner per month more, and only with reasonable excess, what good is it if they crash my 1800€ volvo if I have to pay 700€ extra per year to get fully comp, and then also have to pay 500 excess, might as well just pay for a new car on my own then.
 
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In my experience, 3rd party isn't always cheaper than fully comprehensive ...strangely ...or they are so close you may as-well go with the FC.

I remember from when I past my test, about the cheapest thing to insure at the time that wasn't awful in every way imaginable was the Pugeot 306 (I might now say that's awful in every way imaginable, but as a first car ...it really isn't, and certainly wasn't when I was 17-18) ...now these were still a little expensive to actually buy at the time, but now they must be ten a penny.
 
Consider looking for a 'classic car'. I can't remember how old they need to be - 25+ years or something? I don't know much about that end of the market but I imagine you could get one for under £1000, set aside a similar amount for repairs/maintenance each year, and make a saving because the insurance is substantially cheaper. Others on here will know more about it than me.

Moeks said:
In my experience, 3rd party isn't always cheaper than fully comprehensive ...strangely ...or they are so close you may as-well go with the FC.
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If you insure your car FC I think they assume you care about your car so are lower risk.. :p
 
well, just asked my dad and he said a big no . so thats out of the question, should i ring up direct line when i get my car ans ask about third party fire and theft or just ask them to give me a quote
 
You can bring quotes down in several ways though, whether or not this will suite you in only something you can know though.

Firstly, have at least 1 experienced driver on your policy as a named driver ...2 is even better.

Then you can limit the mileage a bit ...a policy limiting mileage to say 5k a year will be lower than an unlimited one of course.

Also you can play with job descriptions a bit, I suppose you can't really if you are a student ...because you are a student ...no two ways about it. But if you work in IT and could conceivably be called a consultant, a technician or an engineer ...have a play and see which one gives you the lowest quote. Aslong as you don't actually lie here, it's fine.

Since you are starting from scratch here I can't think of a lot else you can really do, obviously your are beholden to your post code ultimately.
 
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