Heya, I just wanted to ask if anyone knows why the quotes I'm getting on car insurance could be so ridiculously high relative to the value of the vehicle I've got?
Information:
Age: 18
Country: UK
Area: South Lincolnshire in a small Hamlet of roughly 250 residents
Vehicle: 1994 Rover Metro 1.1 (carbed) GTa 5spd manual
Vehicle status: currently lacks MoT and is SORN but she should be up and running within the next week and MoT'd within the next 2-3 weeks
Hopefully within the next 6 months or so I'll be passing my driving test and can finally get out and about and leave this god forsaken county and as such I've been looking at insurance policys for when I pass to see how much it'll cost me a month (my learners insurance is currently £38 a month and covers me [the policy holder and vehicle owner] along with my step dad) but I've noticed I'm struggling to find quotes that are below £9,800 a year id be ok with £2,800 with no black box (due to the conditions of the roads near me I regularly have to change sides of the road and brake sharply to avoid large potholes and as such I feel a black box with telemetry would say I'm an unsafe driver and put my premiums up). Another issue with this is that I plan on moving to Gravesend next year for an apprenticeship and will therefore need a car to get around and if I can't afford to insure the one I've got i have no idea what I'm gonna do transport wise especially since this apprenticeship may require me to leave very early in the morning and travel to various job sites. Just wondered if anyone knows why I'm being given such ridiculous quotes and wether there's anything I can do to get cheaper quotes or wether anyone has any recommendations for cheap insurance companies for young drivers. I'm more than happy to answer any extra questions if anyone has any! 🙂
Does anyone know why my quotes are so expensive?
byu/Sad-Client-6467 inInsurance
Posted by Sad-Client-6467
3 Comments
Oh also thought I should mention that back in October just after I got the new V5C I was getting loads of quotes for £2,500-£3,200 with no black box but since roughly December I haven’t been able to get a single quote below £9,800 a year with many insurance companies quoting me upwards of £15,000 a year with a black box and I’ve had GoGirl quote me £32,995… (Keep in mind I bought the metro for £350 and it’s value is about £1,300 so that’s about 28x the value of the car in a single year)
Age: 18
The value of your car is certainly a consideration for collision/comprehensive insurance as a high-priced vehicle is obviously going to be more expensive to repair. However, the value of a vehicle has very little to do with the cost of liability insurance as the value of your car doesn’t significantly impact the amount of damage you could cause to other people’s cars. Since you are 18, you are a risky driver, so your rate will be high.
Interestingly, a cheap car may actually have HIGH liability insurance costs because your car likely lacks advanced safety features like adaptive cruise control, lane assist, back-up cameras, modern airbags, and other things that would help reduce the harm you could cause to others.
Bit steep innit