It's that time of year again when I need to plump for the lesser of several evils, and pick an insurance company...Just wondering if any of the back-roomers had advice on which companies to try for decent (read: cheap) quotes?
I am a 'young driver' (i.e. in the 21-24 bracket), male, (I know, not looking good so far) and drive an Audi Coupe 2.0L (oh yes, it's gonna be expensive!). Last year was with Adrian Flux, this year, best quote so far (TPFT) is with Norwich Union, at £650 (very impressed with this one). Have also tried Tescos and Direct Line, who come in at about £800. AA never any good, so haven't bothered.
Would prefer to go with a reputable company, as am a bit tired of dealing with cowboys...Any suggestions for how to reduce my premium, and who to try?
Thanks in advance.
Stuart
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A few tips:
- is there an owners club offering good deals?
- you could take (and of course pass!) the Institute of Advanced Motorists test & then have access to their deals (I saved £55 over my renewal by going this route);
- you could take on a voluntary excess - but beware this will be as well as the compulsory one;
- go to a broker not a company, but I was caught last year for a £19 policy fee they didn't bother to tell me about till I'd committed the purchase (I didn't realise these still existed).
Hope at least one idea helps!
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All good advice.
Other possible (reputable) companies who do well for younger drivers are:- AXA Direct, CIS and Elephant.co.uk
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>>Norwich Union, at £650
Sorry to say that I can't see you doing much better than this.
The NU, overall, has always struck me a pretty good company. Our cars are insured there.
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I can't believe you're only going to have to pay £650! As I'm 20 I've never had an insurance quote with less than four figures.
Did I leave my lights on?
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Admiral www.admiral-insurance.co.uk/car/AdmHome.phtml is better than most customer services wise, and has always been good to me with regards competitive quotes for young drivers. They are the same people behind elephant.co.uk but I would much rather pay the extra and get proper customer service with admiral as opposed to the premium rate phone support with elephant.
Good luck!
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Thanks for the advice everyone...
Tried Admiral, but they couldn't touch the NU price.
Highway Star - belive me, I'm as surprised as you are! This is the first time I've been quoted below £1000, and it suddenly drops to £650!!
Will keep trying (am doing an AXA one as we speak) and keep you updated...
Cheers,
Stuart
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www.its4me.co.uk have just quoted me (25 yr old with 6 yrs NCB) £360 for a 8v Mk2 Golf GTI
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I had several quotes from brokers all quoting Norwich Union and all similar prices..........except Kwik Fit.
I got a quote from them (based on NU) and said I would ring back if they turned out to be cheapest. (They already were.)
They then rang me a couple of days later and I managed to haggle them down by about £50. Worth a try I suppose.
Just say you are in a position to buy at that moment if they come up with the correct price.
I personally never get the legal cover they always seem to want to sell for £30ish. Does anyone buy this and why?
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I just thought I'd post a follow up message to my original query. I have now chosen an insurer, and sorted everything out. In the end, I went with www.norwichuniondirect.co.uk, who came back with a premium of just under £550 (TPFT) with an excess of only £120. Bearing in mind this is for a young driver (21-24) on a 2.0l Audi Coupe, with 1 yrs NCD...I was pretty impressed!!
Just thought I'd pass the information on in the hope that it will help others find cheaper insurance!
Thanks for everyone's help!
Stuart
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£550 tpft !!! Crikey, it's not often that I'm glad I'm as old as I am !!
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Insurance is so expensive nowadays because it is very hard to find a company that gives you just what you want ie car insurance.
Instead, you have to take breakdown cover, hire car replacement, hotel accommodation and other bits and pieces you don't want or need!
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Perhaps NU's older customers are subsidising the youngsters- I just got an online quote after reading this thread, but it came out at £484 for a 2.0 Accord (I'm 37). That compares somewhat unfavourably with the £290 I paid Esure a few months ago...
John
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Yeah bot to be fair, for older drivers with their 4 years no claims, e-sure must be the best, my dad's insured his BMW thru them for £240 fully comp! Others were asking £300 - £400
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My semi-serious point was, if the actual cost to the insurer of providing my cover is the roughly the same (true?), then NU are making a tidy profit on drivers in similar circumstances to my own.
They might then be using this to reduce the cost to younger drivers such as Stuart- getting them young and gradually increasing their premiums (relative to other insurers) as they get older.
Wherease Esure, who presumably wouldn't touch Stuart, have to wait and hope for old codgers like myself with our pipes & slippers to come along later, hoping we then don't go and pop our cloggs too soon.
John
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All companies balance their entire underwriting results.
So on one side if you are with a company with a high-risk or non-standard portfolio you will tend to pay more although you are probably non-standard yourself, balanced against that they are probably doing it against a greater range of risks.
Virtually all, and perhaps all, insurers make an underwriting loss within their Motor portfolio. They are usually in profit because of their investment profit and follow-on/add-on/associated businss for more manageable risks - liability or fire for example.
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That's interesting...Perhaps it's to do with your location? Or was that £484 fully comp (mine was TPFT)...?
Stuart
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Indeed! I'm counting myself lucky this year, as last year it was £1100!! I suppose it's all relative :-)
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Stuart. Because I choose to run an imported Japanese vehicle, when I wanted insurance, a couple of years ago, most companies were very toffee nosed and choosy. That has now changed thank goodness but, Norwich Union were one of the very few helpful companies re insuring an import at a reasonable price, and they continue to have my business.
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John,
That's good to know! I was a bit concerned that they might have had a reputation as cowboys or something (given their price) so your words are reassuring!!
Stuart
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I've gone with 1stquote for the last few years because no one seems to be able to touch their prices. I'm 23 with a Nissan 100NX with 5 yrs no claims and I'm paying £403 TFPT. The closest I came to beating the price was through Direct Line who wanted £406.
I rang e-sure who wouldn't touch me until I had an insurance approved immobiliser and was over 25.
Any other companies were charging over £500.
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