Insurance catch-22

Moogintroll

How on earth can a 34 year old man, with a shiny new provisional get insurance? I spent the last few hours phoning around and only got a single quote and that was just a few euro under €2k.

This is what I was paying eight years ago when I gave up driving because I didn't feel like paying for the insurance on a car I barely used.

Am I missing something fundamentally obvious here because just about every insurance company will not insure you if you don't have a no claims bonus?



(Apologies if this has been discussed previously)

Anan1

What kind of car are you getting quotes for? I'd imagine the cheapest way is to drive a small-engined car until you build up your NCB.

DriveSkill

Moogintroll wrote: »

Am I missing something fundamentally obvious here because just about every insurance company will not insure you if you don't have a no claims bonus?
)

I think its more to do with the fact that you have a Learner Permit (previously known as a Provisional Licence). There are very, very few cases where it makes sense for a Learner Permit holder to own their own car with insurance in your own name as you cannot legally drive on your own! Hence insurance companies are reluctant to quote in those circumstances and will charge accordingly.

Best advice is get a full licence and work from there, unfortunately you still need to build up an NCB so you are limited to smaller engined cars for a few years if you want to keep the premiums reasonable. In the meantime try and get insurance as a 'named driver' on a car and use that to get experience to pass the test.

behan29

i drive a 1litre polo, 3 years no claims and a full licence and my insurance is 570 euro, one company would only give me third party, im dricing a 9 years old.

Moogintroll

Anan1 wrote: »

What kind of car are you getting quotes for? I'd imagine the cheapest way is to drive a small-engined car until you build up your NCB.

1.6 litre A3

I eventually found one crowd called XS Direct. €1k Premium and they only pay out if the claim is over 4K but maybe this will have a positive effect on my driving.

Vertakill

Aye XSDirect are ok if you're struggling to get insurance because they'll literally insure anyone.

Just don't crash with that policy because you're pretty much just paying to be legal on the road... because the majority of the time, you'll never be claiming from XSDirect due to their excess.

I'd try 123.ie as well and some of the other brokers. I'd also try adding a female (preferably with a full license) onto the policy as well as it'll lower your quote.

Del2005

AFAIK you don't build up any NCB with XSDirect. You're going to have to get something smaller or bite the bullet. We all had to do it at some stage. I was saying IR £2,500 when I got my 1st policy.

Barr

Moogintroll wrote: »

1.6 litre A3

I eventually found one crowd called XS Direct. €1k Premium and they only pay out if the claim is over 4K but maybe this will have a positive effect on my driving.

It could be the engine size starting out that most insurance companies are declining.

djimi

Moogintroll wrote: »

1.6 litre A3

I eventually found one crowd called XS Direct. €1k Premium and they only pay out if the claim is over 4K but maybe this will have a positive effect on my driving.

I think you might need to lower your expectations carwise until you build up some experience and a NCB...

Try ARB insurance. At the time I got my first policy (about 8 years ago) they were a company who specialized in higher risk policies, and I was able to get a decent enough quote from them (€2500 on a 1.4 98 Accent). This dropped pretty sharply over the next couple of years, even tho I upgraded to a 1.4 Civic (something like 2500 > 1800 > 1400 > 1200). As with us all, youll have to just take the hit the first couple of years.

XS are grand for what they are, but if your car is worth anything at all (ie if its worth more than just being able to walk away from it should anything happen to it) then you might want to look around for a better, even if more expensive policy. Considering they dont pay out up to €4k, it might work out cheaper in the long run to pay more up front.

justsomebloke

truthfully as said before if you can get a smaller car do. Also if you have a partner with a full licence get them on as a named driver as may also bring down your premium

Moogintroll

It kinda looks like my best option is to get the car insured in my dad's name and get insured as a named driver. Looks like it would work out significantly cheaper to insure the both of us than me alone.

djimi

Make sure you get insured with a company that lets you build up some manner of a NCB as a named driver.

Out of interest, was the quote you mentioned in the original post the one from XS or was it a different one?

Anan1

Moogintroll wrote: »

It kinda looks like my best option is to get the car insured in my dad's name and get insured as a named driver. Looks like it would work out significantly cheaper to insure the both of us than me alone.

Perhaps, until you pass your test. Do bear in mind though that you'll have to declare yourself as the main driver - combine this with your dad's not being able to use his NCB on both cars and it may be just as expensive as insuring your own car. Maybe get named on his current car until you pass your test?

Eoin

Moogintroll wrote: »

How on earth can a 34 year old man, with a shiny new provisional get insurance? I spent the last few hours phoning around and only got a single quote and that was just a few euro under €2k.

This is what I was paying eight years ago when I gave up driving because I didn't feel like paying for the insurance on a car I barely used.

Am I missing something fundamentally obvious here because just about every insurance company will not insure you if you don't have a no claims bonus?

I think I might be missing something! You have a quote, so now you start building up your NCB.

If it's just that you think it's too expensive, then look at a car with a smaller engine - but most of us had to take the hit at some stage. Insurance has been going up over the last couple of years for most people I've spoken to.

Also - did you just get some online quotes? Phone book and some patience is the only way to go.

Moogintroll

djimi wrote: »

Make sure you get insured with a company that lets you build up some manner of a NCB as a named driver.

Out of interest, was the quote you mentioned in the original post the one from XS or was it a different one?

I spent a few hours phoning around and Quinn Direct were literally the only ones who would even give me a quote. Half of the ones that refused me weren't even interested in engine size.

Sure I'm annoyed at it being too expensive, this is exactly the same price that I was paying eight years ago when the supposed reason for the exorbitant price was my age.

It seems that I'm less insurable now that I'm out of the boy-racer demographic and into the older and balder demographic.

daveharnett

Moogintroll wrote: »

Sure I'm annoyed at it being too expensive, this is exactly the same price that I was paying eight years ago when the supposed reason for the exorbitant price was my age.

It seems that I'm less insurable now that I'm out of the boy-racer demographic and into the older and balder demographic.

I think you're right- your age is working against you. I'm guessing that there aren't a lot 'new' (learner permit and no no-claims bonus) drivers at your age. Your 'minority status' will make insurance tricky, because it's more difficult to accurately predict your risk. These days, when in doubt insurers will err on the side of caution. And by caution, I mean taking all of your money .

Nonoperational

Under €2k with no NCB on a 1.6 seems about right to me. Getting insured under your Dads name is a false economy, you have to declare you are the main driver and your father can't use his no claims bonus on the 2nd car that can only be used on 1 car.

djimi

Moogintroll wrote: »

I spent a few hours phoning around and Quinn Direct were literally the only ones who would even give me a quote. Half of the ones that refused me weren't even interested in engine size.

Sure I'm annoyed at it being too expensive, this is exactly the same price that I was paying eight years ago when the supposed reason for the exorbitant price was my age.

It seems that I'm less insurable now that I'm out of the boy-racer demographic and into the older and balder demographic.

Id imagine its not so much your age as the fact that you are on a learners permit with no NCB. With no percieved experience and a learners permit, regardless of age; youre still starting out and youre still going to be seen as a higher risk. Id imagine the fact that youre not in your early 20s is the reason why the quote you got was under €2k and not nearer €3k considering the car youre trying to insure.

If its fully comp then under €2k on a 1.6 on a leaners permit with no NCB is actually a very good quote. You could go down the road of being a named driver until you pass your test, but if you can afford the €2k then it might very well be worth taking the hit and start building up your NCB. That €2k will probably drop quite a bit next year, especially if you pass your test in the meantime.

Max Power1

Id reccomend Britton insurance OP, Im on a learner permit with no NCB and insurance on a 1.8 is costing me 1700.

smash

Moogintroll wrote: »

Sure I'm annoyed at it being too expensive, this is exactly the same price that I was paying eight years ago when the supposed reason for the exorbitant price was my age.

But you haven't driven since then. Just because you're older doesn't mean you're safer on the road. At the end of the day, you still have hardly any experience, and none in the last 8 years!

mathepac

Moogintroll wrote: »

It kinda looks like my best option is to get the car insured in my dad's name and get insured as a named driver. Looks like it would work out significantly cheaper to insure the both of us than me alone.

You need to look at a proposal form before you attempt this. Your father, who in this case will be the proposer, will be asked a number of questions :

1 Do you own the vehicle in question?

2 Will you be the main driver?

3 Do you have the use of another vehicle?

If he answers untruthfully any cover obtained will be by deception and it may be withdrawn in the case of a claim and in any case it'll be invalid. If he answers truthfully the likelihood is that cover will be declined.

If the proposal is an on-line one, these questions (and others) are usually covered in the first page of assumptions. If you click "No" to assumptions, you will not be able to complete the on-line proposal.

From an insurers point of view there may be something odd about someone your age on a first (?) learners permit looking to insure a (relative to your driving experience) large expensive car, or did you tell them you'd held a provisional licence 8 years ago and had previously been insured?

Funsterdelux

Do your driving test asap, Im onto my second year driving and passed my test 8 months ago, now my insurance has halved!

Barr

Moogintroll wrote: »

It kinda looks like my best option is to get the car insured in my dad's name and get insured as a named driver. Looks like it would work out significantly cheaper to insure the both of us than me alone.

Be careful with this option , the name on the log book needs to be right if you had a claim down the line.