My youngest son is 17 and is learning to drive.
quite expensive to insure I guess...
Although the cost of lessons hasn’t gone up significantly over the years (£20 per hour), the Insurance Premiums surely have.
There is a suggestion that:
* 1 in 5 drivers are involved in a crash during their first year on the road
* male drivers aged under 21 are 10 times more likely to have a car accident than male drivers aged 35 or over
* young drivers have a higher proportion of crashes at night than older drivers
* 1 in 8 British drivers are under 25, but a quarter of drivers who die in traffic collisions are in this age group
* In 2007, 40% of passengers killed or seriously injured – meaning lost limbs, paralysis, brain injury and other life-changing injuries – were in a car driven by a young driver
Quotes for my son added to our second car policy ranged from around £1,900 to over £9,000 (on a car worth around £3,500…). The £9,000 was ‘ASDA price!’
But then there was a quote from Quinn Direct – and Irish Company for £961.
As my late father always told me, “if it sounds too good to be true, it probably is…”
And how true.
Firstly, the Irish Financial Regulator has appointed an Administrator of the business and their website says: “…the Financial Regulator has separately directed Quinn Insurance Limited to cease writing new business in the UK. Existing UK policyholders will not be affected by this decision as existing policies will remain valid. Customers can make claims in the normal way.”. Interesting that Confused.com show them as the best value! Their own web site does say that they have re-entered the market, but the Financial Regulator in Ireland makes no mention of this?
Secondly, if you change my sons status from being a ‘learner’ to holding a Full Uk Licence, the premium increases a little … to £3,700! The argument goes that they are not a high risk whilst you are driving with them…
For a few minutes I thought that Alton Towers had entered the Car Insurance market!
Then there was a flash of brilliance from my wife – Provisional Marmalade – £250 for three months! And a stand-alone policy. Brilliant! She found this through Martin Lewis’ web site.
It may not be true, but I did hear that if you insure 17 year old’s on Classic cars such as old Beetles, Morris Minors, and old shape Mini’s, you can get them insured for under £500 per year. Again, the argument goes, that they can hardly tear arse around in them as they don’t go fast enough and the type of kid who would drive one of these is not normally a hooligan anyway!
I think he ideas of Golf GTI’s or ‘old’ RS4’s….
I have gone through the web and have find out a good insurance option for young drivers. Quinn Car Insurance for Young Drivers is a perfect option for young divers. The insurance premium for young drivers can be controlled by safe driving practices being adopted by the young drivers. The no claim bonus is applicable in these policies too. The young drivers can drive safely for certain stipulated period and hence raise no claim. This will entitle them to the no claim bonus in the form of the discount in premium. The Quinn car insurance for young drivers will also provide special incentive if the young driver takes up any type of safe driving training program. The safety accessories fitted to the car will also fetch you some discount on the premium. The car model also makes difference in the premium. The sports car will take more speed and hence there would be more chances of damage. Therefore, it is recommended that if you are looking for an affordable premium for your teenager’s car then always buy him the basic car.
Thanks Sarah, perhaps we will see more Insurers enter this market – but in the meantime young drivers pay high premiums…