RJRB Posted April 11, 2011 Share Posted April 11, 2011 I keep hearing that car insurance for newly qualified young drivers can run to £6000-£8000. So why do fines appear to be £200/£300 plus 6 points.I know their cars can also be impounded and scrapped unless insured,but if it's an old banger you would still be quids in. I think the fine alone should be more than the cost of insurance,but I also think that the insurance brokers should not load the overall costs so heavily on to young drivers. The aim should be to enable young drivers to become legal and responsible from the word go.Possibly by dropping the premium dramatically at age 21,when some will be more mature. Link to comment Share on other sites More sharing options...
Kristian Posted April 11, 2011 Share Posted April 11, 2011 Insurance companies don't make premiums up out of thin air; they look at the claims risk based upon previous experience. Young males are a huge risk, hence the huge cost. I agree about the levels of fines, they are disproportionate. Link to comment Share on other sites More sharing options...
stevematt89 Posted April 11, 2011 Share Posted April 11, 2011 The insurance process is a joke to be honest. Before I passed it cost me £1100 to insure a random 1L Dihatsu. When I passed my test it cost me £1600 to insure a Rover 400 on third party. I then brought a punto for a short while, and the insurance for that was £1400 fully comp with 1 years no claims. Then I moved to a Yaris, and the insurance went down to £900 fully comp. Then when I moved to Sheffield the insurance went up to £1900 third party, with three years no claims, with the car being parked in a secure compound that is manned 24/7 and has a checkin/checkout system. Link to comment Share on other sites More sharing options...
benny4 Posted April 11, 2011 Share Posted April 11, 2011 Why dont the insurance company make driver put £10000 in a bond if the driver has no claims he can have it all back, if he has a claim it is taken out of the bond Link to comment Share on other sites More sharing options...
SkaAsWit Posted April 11, 2011 Share Posted April 11, 2011 Why dont the insurance company make driver put £10000 in a bond if the driver has no claims he can have it all back, if he has a claim it is taken out of the bond And how many drivers have ten grand lying about? Only people with a spare £10,000 would be able to drive. Bye bye car industry. If you read the papers it's usually young idiots who cause most accidents. Hence the cost of premiums they have to pay. I think that's fair. Fines may be a lot less than the premiums but repeat offending can lead to prison and/or bans, test retakes, etc, so the cost is not the only influence. Link to comment Share on other sites More sharing options...
kevvy Posted April 11, 2011 Share Posted April 11, 2011 Why dont the insurance company make driver put £10000 in a bond if the driver has no claims he can have it all back, if he has a claim it is taken out of the bond When did you dream that up ? What a stupid comment! Link to comment Share on other sites More sharing options...
chem1st Posted April 11, 2011 Share Posted April 11, 2011 The country is going downhill, the youth have no incentive to work. Wages are low and the costs of goods, insurance etc. is high. Link to comment Share on other sites More sharing options...
Leah-Lacie Posted April 11, 2011 Share Posted April 11, 2011 My friends insurance went up by £801 this year, hes been driving since 18 and is now 26, and has 8 years no claims. My friend bought a Mini Cooper to do her lessons in, her insurance was about £1200 on a provisional. She didn't seem to grasp that once she passed, and was driving alone, and possibly on motorways, unsupervised, and generally in more dangerous situations, then her insurance would go up. It went up to £3500 Link to comment Share on other sites More sharing options...
Moosey Posted April 11, 2011 Share Posted April 11, 2011 If you read the papers it's usually young idiots who cause most accidents. Hence the cost of premiums they have to pay. I think that's fair. Fines may be a lot less than the premiums but repeat offending can lead to prison and/or bans, test retakes, etc, so the cost is not the only influence. I don't agree with that at all. I don't tend to deal with many RTA claims these days, but over the last 10 years, I'm certain I've seen no real pattern. I've had claims against a completely mixed group of people; young and old; male and female. There's been no clear "common group". I could go through the ones I've got at the moment and give you a summary, which I suspect would show a broad spectrum of people being responsible. I'd also never believe what the papers told me about most things, seeing as most are biased. Link to comment Share on other sites More sharing options...
RJRB Posted April 13, 2011 Author Share Posted April 13, 2011 It just seems that insurance for the younger drivers has jumped from being expensive,but with the incentive that 3 years no claims will make it more affordable,to the total prohibitive for all but the most wealthy. This coupled with young unemployment is a miserable state of affairs. Insurance is the sharing of risk between all participants,and I am sure that the weighting has gone crazy.I insisted that both my sons kicked off with their own insurance,which was around £800 for 3rd party fire and theft on a cheapish car.This was about 12 years ago and they both now pay around £400 for fully comp on decent cars. Time for a re think by the insurance companies who are failing to provide the required service. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.