Quote "Insurance will still be about £700"  double ouch.

 

We paid £200 this year 2 named drivers & hoping to reduce that again on next renewal.

 

68 Jungle Green. (sports car)

£700 for a 19 year old sounds very reasonable. One of our neighbour's son's has been quoted £1250 for a non sporty 207, and we live in one of the cheapest Insurance Risk areas there is.

43 and jungle green... Does that make me old before my time YetiMC?

Ahh i said a certain age not old haha, and i did list Muscovado and Cappuccino first followed by Rosso Brunello before jungle green.

 

I did pick white for my Yeti and not because it was free but because it looks good in white with the black roof, I am a car detailer so i know that dark colours will show the lightest of scratches so for me i stay with light colours for my own cars. 

I'm afraid the Yeti is an old mans car. A young persons car is a Roomster as in this video! Make me feel 50 years younger just watching it.

 

 

£700 for a 19 year old sounds very reasonable. One of our neighbour's son's has been quoted £1250 for a non sporty 207, and we live in one of the cheapest Insurance Risk areas there is.

Along with the isle of Man.

Tony

£700 for a 19 year old sounds very reasonable. One of our neighbour's son's has been quoted £1250 for a non sporty 207, and we live in one of the cheapest Insurance Risk areas there is.

As long as you don't meet a leather hatted one on a blind bend )))

£700 for a 19 year old sounds very reasonable. One of our neighbour's son's has been quoted £1250 for a non sporty 207, and we live in one of the cheapest Insurance Risk areas there is.

 

got it down to £600 with a named insurer for 8,000 miles a year, a friend used to pay £1800 for a £300 Nissan micra. 

It's called 'payin' yer dues'.

Fair play....he's paying his insurance ......they all don't at this age. £700 is a lot but I worked all week picking potatoes to earn enough to pay my motorbike insurance and my first car insurance was £43 TPFT....when my take home monthly pay was about £75 . Proportionately is that so much different to 40 odd years ago.

 

Insurance costs are quite difficult to fathom. 5 years ago, when I retired, I returned my 2 year old Tiguan 170SE and bought a 12 year old SAAB 9-3. I had to pay about £45 for the six months remaining.

?......

 

Insurance costs are quite difficult to fathom. 5 years ago, when I retired, I returned my 2 year old Tiguan 170SE and bought a 12 year old SAAB 9-3. I had to pay about £45 for the six months remaining.

The £45 would be for third party coverage I'd think as the write off value of the SAAB 9-3 would be negligible.

The £45 would be for third party coverage I'd think as the write off value of the SAAB 9-3 would be negligible.

No .....the £45 was the additional amount. Effectively the SAAB was £90 as year more than the Tig.

No .....the £45 was the additional amount. Effectively the SAAB was £90 as year more than the Tig.

Wow!

Would it be worth insuring a vehicle that old and out of production for years?

What is the market valuation (write off) it's insured for verses cost?

Insurance is compulsory.......the car was worth about £1000 but can do the same amount of damage to things and others as a Bugatti.

I guess TPFT may have been a bit less....but not always I understand.

It was at at a difficult time having taken redundancy/retired and my company funded car returned.

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Insurance is compulsory.......the car was worth about £1000 but can do the same amount of damage to things and others as a Bugatti.

I guess TPFT may have been a bit less....but not always I understand.

It was at at a difficult time having taken redundancy/retired and my company funded car returned.

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Ouch!

Sorry to hear that.

We call it 'bomb insurance' and seeing you have to pay so much for so little, it makes you wonder why.

Ouch!

Sorry to hear that.

We call it 'bomb insurance' and seeing you have to pay so much for so little, it makes you wonder why.

I'm perfectly OK with paying insurance ..... In fact I'm very critical of those that don't.

Bought mine at 36

I'm perfectly OK with paying insurance ..... In fact I'm very critical of those that don't.

I agree

But the prices should reflect the lower risk you'd think.

No .....the £45 was the additional amount. Effectively the SAAB was £90 as year more than the Tig.

 

That doesn't surprise me. The quotes I got for having my youngest (17yo) put on the Citigo insurance (when he finally gets his backside in gear and takes his his test ) recently were a LOT less than all his mates are paying to insure their old Polos, Novas, C1's etc. How that can be, I'm not sure. Perhaps because there isn't a substantial block of data for these newer cars for the insurance companies to work on?

That doesn't surprise me. The quotes I got for having my youngest (17yo) put on the Citigo insurance (when he finally gets his backside in gear and takes his his test ) recently were a LOT less than all his mates are paying to insure their old Polos, Novas, C1's etc. How that can be, I'm not sure. Perhaps because there isn't a substantial block of data for these newer cars for the insurance companies to work on?

Bodywork repair costs are the significant part in an insurance claim. I would have thought modern cars should be cheaper to repair.

 

Colin

It's all about risk. I think the value of cars and their costs to repair fall into insignificance when compared to personal injury claims. As I wrote above my old Saab could do as much damage as a £1 million Bugatti.

Whilst it seems a very simplistic view that older cheaper vehicles should be less to insure the risk associated may be much different.

No doubt a very complex algorithm is used to take into account the vehicle, the age, the driver, the drivers age, where they live, where they drive, for what purpose, at what time if the day, in what profession, who else does or doesn't drive the car, how many other cars that person may drive......etc....etc.

Whilst it may seem at odds with logic I suspect it is a very controlled set of reasoning.

And you also have to add the an element of 'how much can we add in this part of the market and still get the business'

Maybe they simply think 'bomb' insurance is bought only by losers and factor that in to risky behaviour.

That doesn't surprise me. The quotes I got for having my youngest (17yo) put on the Citigo insurance (when he finally gets his backside in gear and takes his his test ) recently were a LOT less than all his mates are paying to insure their old Polos, Novas, C1's etc. How that can be, I'm not sure. Perhaps because there isn't a substantial block of data for these newer cars for the insurance companies to work on?

 

Insurance on My 6n2 polo was £1000 (being 18 rather than 17 helped) in first year then drooped to £500, The yeti is £600 thats because the more valuable car is considered to be looked after better and is based on average age and crash stats.  

For young drivers, the biggest potential risk to the insurer is the third party element. The typical old Corsa, Nova, Polo etc doesn't take much to write off (financially, from the insurers perspective) and by the time the usually-sky-high excesses have been taken off, the payout will amount to not much more than two bob & a conker. However, if said Corsa runs into the back of a nice high spec Mercedes in the course of meeting its maker, the insurers liability goes well beyond anything they could ever anticipate paying out directly to the policy holder. If the insured is driving a new Yeti, then they have to pay for all of the third party bit and a much higher repair bill on the Yeti, because there would have to be a lot more damage done to it compared to an old hatch before it could be considered Cat D. That's why I think there must be more to it than just the value of the car - perhaps an element of statistical analysis on the part of the insurer?

 That's why I think there must be more to it than just the value of the car - perhaps an element of statistical analysis on the part of the insurer?

Or is it a case of "how much more can we screw out of this customer"?

 

Fred

Or is it a case of "how much more can we screw out of this customer"?

 

Fred

....or a charge for 'bothering me'.