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Struggling to find insurance

 
Old 04-20-2019, 09:42 AM
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Default Struggling to find insurance

I am 21 with 3 NCB and plan on purchasing a S2k next month so I wanted to estimate how much insurance would be but on 2004 models with about 50k on the clock. My quotes are ridiculous! Adrian Flux couldn't give me a quote, Admiral wanted £4700! And on the comparison sites I can't get below £3000!
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Old 04-20-2019, 09:57 AM
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You'll have to accept this with your age. You have to shop around but I doubt you'll get it much lower without a significant reduction in cover.
If that's too much for you then maybe consider something other than an S2000 ?
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Old 04-20-2019, 01:11 PM
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Don't know what a "NCB" might be (let alone three of them).

Curious if this is liability insurance cost? Don't know UK insurance laws but assume they only require financial responsibility for damage/injury you cause and your loss isn't required to be insured. Financing a 15 year old car will require you insure against your loss (and the finance company's) which I expect is a good percentage of the price.

Insurance is based on risk and the millions of 21 year old drivers before you have created a database of millions of dollars/pounds of losses.

-- Chuck
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Old 04-20-2019, 01:42 PM
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UK law requires that the driver of the vehicle has cover against injury or damage to a third party. So third party only cover is available through some specialist insurers.
However don't expect this to be significantly cheaper than comprehensive cover.
You have to ask yourself if you would want to take the risk of losing all the money you put into buying the vehicle in the event is is written off. If the car is financed you may find that it is a condition of the finance agreement that the vehicle is comprehensively insured so that the finance company can guarantee the outstanding debt can be paid off in the event of a loss.

Chuck is right of course that the price will be partly based on the historical pay outs of 21 year old drivers. Although when I started in insurance there were about 15 factors that determined the price. Now it can be more than 200 !!
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Old 04-20-2019, 09:53 PM
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Originally Posted by Chuck S View Post
Don't know what a "NCB" might be (let alone three of them).

-- Chuck
I have over nine of them, but we are not telling you what they are.
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Old 04-20-2019, 09:55 PM
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Originally Posted by nath640 View Post
I am 21 with 3 NCB and plan on purchasing a S2k next month so I wanted to estimate how much insurance would be but on 2004 models with about 50k on the clock. My quotes are ridiculous! Adrian Flux couldn't give me a quote, Admiral wanted £4700! And on the comparison sites I can't get below £3000!
Where you live, your driving record, what job you do, The list is endless. Try Martin Lewis's Money saving expert web site, loads of tips for getting cheaper insurance on there.
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Old 04-21-2019, 01:21 AM
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I agree with Andy on this, the s2000 has a very high insurance group. Majority of people who buy an s2000 are in the 30's.
You are very lucky indeed to be able to buy an s2000 at 21. I passed my driving test at 23 (late - haha) and drove my dads car for 2 years.
Then bought a 1994 civic EG hatch, the 1.3 DX carb version. I paid £1350 for insurance at the time. This was in 2003.

Could you pay the £3000 premium monthly?
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Old 04-21-2019, 03:32 AM
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Originally Posted by s2000_f20 View Post
I agree with Andy on this, the s2000 has a very high insurance group. Majority of people who buy an s2000 are in the 30's.
You are very lucky indeed to be able to buy an s2000 at 21. I passed my driving test at 23 (late - haha) and drove my dads car for 2 years.
Then bought a 1994 civic EG hatch, the 1.3 DX carb version. I paid £1350 for insurance at the time. This was in 2003.

Could you pay the £3000 premium monthly?
Agree with you and Andy, it's not about what damage you can do to the car, it's what damage you can do WITH the car, to others and yourself.
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Old 04-21-2019, 09:08 AM
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NCB ! I remember when I was employed by them.
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Old 04-21-2019, 09:55 PM
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Surely the bottom line is, if you can't afford the insurance, then you can't afford the car?
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