Why Is My Insurance So Expensive?
I am looking to buy an hyundai coupe 1.6 auto and I am wondering why all my insurance quotes are so expensive. These are my details.
18 years old
0 NCB
Full Licence held for 8 months
Only need up to 4000 miles a year
car is worth £2000
Will use it for Leisure and commuting
Only need Third Party Fire Theft
Live in the South east, in east sussex
I have been speaking to a few people who own these also and they are getting much cheaper quoted than I am getting and they need more than me like they have a 2 litre, 10,000 miles, newer model car like 2002, car is worth more.
As an example a person I have been talking to is also 18 and he has got a 2002, 2 litre and his car is worth £6500 and he has a quote for £1000 and that is fully comp. This is a group 10 insurance car.
I am 18, I am looking at a 1997 1.6 which is worth £2000 and my quote is £2400 from the same company and mine is a group 9 insurance.
I can’t seem to figure out why my quote is way above theirs.
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December 23rd, 2009 at 12:05 pm
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December 23rd, 2009 at 1:40 pm
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December 23rd, 2009 at 1:47 pm
A big reason is your age, but could also be where you live, as maybe car crime is high in the region?
Try http://www.confused.com to search for the cheapest quote online. It’s really good, and i managed to get £80 off my car insurance renewal quote! Good luck.
December 23rd, 2009 at 2:16 pm
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December 23rd, 2009 at 2:19 pm
There are actually a lot of factors that can cause the rise–or even the fall–of your insurance premium. For example, when it comes to Singapore car insurance, you’ll have a higher premium if you’re a first-time driver. However, if you can have no claim for every year within 5 years against your insurance policy, you can take advantage of a no-claim bonus, which will then reduce the premium you pay every month, quarter, or year.
December 23rd, 2009 at 2:51 pm
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December 23rd, 2009 at 2:54 pm
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December 23rd, 2009 at 4:28 pm
Hey matey, it is mainly your age, and you have no no-claims plus havent been driving for long. It’s a sporty car for your age so will be expensive. There are companies out there who are cheaper, use a comparison site will save you time searching around, i found a good one, http://www.moneysupermarket.com/motor hope this helps fella
December 23rd, 2009 at 4:44 pm
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December 23rd, 2009 at 9:50 pm
A lot depends on your age, your driving experience and where you live, where the car is kept overnight etc. It may be cheaper to get someone to add you to their insurance. They will have to pay more obviously but it might be cheaper in the long run. Shop around a bit more and get online quotes.
December 24th, 2009 at 3:22 am
If the UK insurance system is anything like the US, it is because you are 18. In the US in most states you would pay more for any car at that age. You don’t get a break untill you are 25 or get married.
I guess they figure if you are responsible enough to get married you deserve a better rate.
Also in the US it depends on if you are male or female you would pay more if you are a male.
The location that you live also determines if you pay more.
December 24th, 2009 at 10:08 am
I,m from the US and age,driving record,vehicle type and location are the key factors involved in your rates. Your age is against you for one due to the fact that younger drivers are generally considered more of a risk because of inexperience and a tendency to be more reckless and in the US rates are higher if you live near a city due to a higher risk than a rural area would be and you don,t mention your driving record but if you have any violations on your record I.E. accidents or traffic tickets then that will mark you as a higher risk driver. Bottom line all you can do is shop around for better rates and since you have a computer do a little web surfing for insurance quotes.
December 24th, 2009 at 10:56 am
I was going to say the group but you said it yourself. It may be posssilbe the post code of your address. My insurance goes up by 80 pounds if I lived 3 blocks away.
December 24th, 2009 at 5:12 pm
You’re 18 years old.
You’ve only had a license for 8 months (not rated as a result)
Leisure use
High rated vehicle (group 9)
All leads to a high insurance bill, which will drop as you gain experience driving and remain ticket free and accident free, and will drop again dramatically when you turn 24.
December 24th, 2009 at 8:48 pm
you have ncb. is the car kept in a garage or driveway that brings it down if its kept of road at night. any security fitted alarms ect. you dont say if you have any claims or convitions they will play a huge part. also is your area high risk. somtimes its cheaper to go fully comp to minamise your lose ask your insurance company.
December 24th, 2009 at 11:04 pm
it’s your age love…try other companies.
December 25th, 2009 at 1:45 am
Yo, I work for Geico and 18 haha is bad, and only 3rd party theft? thats not even a coverage, if thats the only coverage ur putting on it thats really not too swift. If you do anything stupid or hit anyone you will be sued big time. And nobody cares it’s gonna be in a garage. Plus where you live has to do with your rate and your credit and frankly you have none.
December 25th, 2009 at 3:42 am
have you run your details through confused.com?http://www.confused.com/?MediaCode=294
I saved 50% off my insurance!!!!! £400
December 25th, 2009 at 10:30 am
the value of the car has little bearing on the insurance premium.It is your age and inexperience that raises the premium but shop around you should get a cheaper quote
December 25th, 2009 at 5:24 pm
Your age and inexperience .
December 25th, 2009 at 9:51 pm
Are you sure your friend is telling the truth. Get a quote for his car but with your name and address. You may then find out the truth.
Also try getting a quote for your car using fully comp. Basiclly try all the options.
It could be the Hyundai that the ins co don’t like, especially as they may have a bad claims record from previous claims.
December 26th, 2009 at 12:41 am
The value of the car has little bearing on the matter. Age, has been pointed out as one factor. Engine size also is a consideration. Other factors are where vehicle is kept and what area it is in; some places suffer higher vehicle crime. A vehicle that is kept and run in a rural area rather than a big city will also be a factor. All you can do is shop around.