23yo trying to get insurance

[H4rry]

I\'m not going to buy the car until next month when I\'m 24 and have my 3rd year no claims, that way I\'ll only have to put up with a year of higher insurance until I\'m 25. If I do buy one before I\'m sure father will enjoy running it for a month. Hopefully going to look at the one Jimmy has for sale this weekend so I need something sorted just in case :2Rolleyes

[Steve-A]

TPFT isn\'t really worth the paper it\'s written on tbh matey. If you bin it on a roundabout somewhere you\'re gonna be left with no car and no cash. For an FD it\'s a poisoned chalice to be honest.

The other side of the coin I\'ve seen from friends, not owning Rx7s but still, is that if you did bin it at a roundabout and try and claim, the cost of trying to insure anything for the next 5 years would basically cost more than the car you binned!

TPFT gives you the 3rd party cover you need to keep things legal and that bit of extra reassurance that if it gets stolen you\'ll get some cash.

£700ish TPFT on an FD at 23 sounds pretty good to me, I got quotes more like £1300 TPFT on an FD last year (when I was 23)!

[H4rry]

That is a side I never thought of Steve thanks, I thought £752 for TPFT wasn\'t too bad but obviously if I can get fully comp then I will, I\'ll definitely be going fully comp at 25 so I just have to be careful for a year, lol. By the way, I do have experience with high powered rear wheel drive cars as I use father in laws 6.3l V8 Cobra on odd occassions including the odd track.

[Lacey]

I do have experience with high powered rear wheel drive cars as I use father in laws 6.3l V8 Cobra on odd occassions including the odd track.

A lot of us have driven (and not ditched) cars far more powerful than we drive ourselves, be it on track days, experiences, or a mate letting you drive his joy for a bit. Insurance companies don\'t care about your driving experience, they\'ve set the market up so that only their factors matter, which makes insurance expensive for everybody. Just irritates me that anybody under 25 is deemed a high accident risk, when mature guys buying super sporty things in a mid life crises tend to cause more claims than young people! (chavs in saxo\'s excluded)

[H4rry]

No I completely agree with you Lacey, I was refering to the whole TPFT and the roundabout scenario, I\'m not ....y or anything, just highlighting a fact that I\'m not a rookie wannabe and will crash the first time I put my foot down.
It does annoy me too that insurance companies car little about drving experience but I guess we all have to live with it and avoid the idiots on the road!!

[BlitzBoy]

Guys you seem to forget 1 in 4 drivers under 25 "Will" have an accident that is a fact, where as drivers in their 30s-40s its something like 1 in 20. So you only have your peers to blame no matter how good a driver you are.

Hence why insurance premuims are loaded against young drivers and young drivers whether you like it or not they are a higer accident risk, driving experiance does count of what car you have driven in the past, this is the difference between in actually getting a quote or being turned down flat.

I remember paying over a grand in insurance for my first ever car fiesta 1.1L 20 years ago lol, thats the same as paying 2 grand in todays money, so in real terms insurance cost has actually gone down for people.

(my facts are based on me working in the IT departments of insurance companies over the last 10 years)

[Lacey]

First hear on my Honda Civic was nearly 2 grand, today I pay £440 FC with PNCB for life, 5 years no claims at this years renewal, and I\'ve driven a Ford Falcon 6l V8 so called \'supercar\' which has had no effect on my insurance whatsoever. It still costs me over a grand just to be considered on insurance for an FD. I don\'t have any claims on record whatsoever, I\'ve qualified early for PNCB for life BECAUSE I\'m a good driver, far as I know it\'s meant to be after 6+ years, I\'m only coming up to my 5th this renewal. It\'s just irritating that even specialty or \'caring\' insurers still go by a peer group basis, and not on a case-by-case basis, especially if the person in question has an excellent safety record!

[BlitzBoy]

yip it sucks , I have been paying high insurance premuims for most of my driving life, I have had various fast cars since I was 19, but thats due to where I live, post codes screw up peoples premuims to.

But thats how underwriters operate, they put in various variables into a rating program with percieved risks to get your premium. Remember most insurance companies dont make any actual profit on the premuim, they only make profit when they invest your premuim (collected premuim) into the money markets,bonds,shares etc etc

Premuims themselves have gone up over the last couple of years due to the recession and the number fradulant claims has sharply risen, so insurance companies have to recover their costs in some way. Plus there have been a number of underwriting mistakes, where they have not got the risks calculated corrected and lost a bundle of money, 3-4 major insurance underwriters went to the wall over the last few years. which means there is less competition and hence why comapnies can rise their premuims with less chance of losing business.

[H4rry]

The problem is that statistics shouldn\'t (said in a way that I understand why insurance companies must count statistics) count for an individual person and I know it would be a real hassle for insurers to be able to take a more individual approach and this would just drive up the cost of insurance too. I just hate the thought that we are paying for all the "unfriendly" people. Anyways, I\'m sure I\'ll get insurance for my new car soon.

[Lacey]

Best of luck sorting your insurance for reasonable cost H4rry

[H4rry]

Gonna need all the luck that I can get, lol

[H4rry]

I\'ve just got a quote from greenlight insurance for £1,900, thinking the TPFT might be the best option for a year unless Admiral can pull through for me on a multi-car quote

[fd3szhi]

have you got more than 1 car in the house hold cause i got a vxr as well for my day 2 day car i have both of these cars insured with them for a touch less than 2k i told them everything that i have got on both cars they were ok with it and the best part of it was the price and how helpful they are dont get me wrong the mods that i have got on my rx is nothing major but its serious enough that most insurance comp dont wanna touch me so give them a try good luck

[H4rry]

Yeah we have 7 cars in the household and I\'ll be running two of them, Admiral have quoted me £1437 for an rx and 1.2 corsa before now, only problem is I don\'t think that the rx was classed as an import but if they offered that again I\'d take their hand off

[dthebuk]

oh damn, what mods on the RX7?

Im looking at paying around £2100 for the same thing and im 22!