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Post by Deleted on Mar 26, 2017 6:06:04 GMT
Reading about Humph's exploits at getting his lad mobile, I came across this article: www.thisismoney.co.uk/money/cars/article-4335184/Cost-motoring-soars-10-year.htmlScroll down, there is a table comparing the costs of 1 year's insurance for new drivers, that table includes the much discussed Toyota Aygo, Citroën C1 and Peugeot 107. It would appear the Toyota is more frequently crashed. Later today, if I've got a few minutes, I may well lookup how many of each have been registered. It could be the Toyota is seen as the more premium of the three and at the hands of the least experienced motorists suffering because of that. No real news, most frequently crashed/damaged car costs more to insure. I'm more surprised that what is fundamentally the same basic car can vary so much. |
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Post by tyrednexited on Mar 26, 2017 9:24:01 GMT
Reading about Humph's exploits at getting his lad mobile, I came across this article: www.thisismoney.co.uk/money/cars/article-4335184/Cost-motoring-soars-10-year.htmlScroll down, there is a table comparing the costs of 1 year's insurance for new drivers, that table includes the much discussed Toyota Aygo, Citroën C1 and Peugeot 107. It would appear the Toyota is more frequently crashed. Later today, if I've got a few minutes, I may well lookup how many of each have been registered. It could be the Toyota is seen as the more premium of the three and at the hands of the least experienced motorists suffering because of that. No real news, most frequently crashed/damaged car costs more to insure. I'm more surprised that what is fundamentally the same basic car can vary so much. From "How Many Left" (and rounded) Current tax and SORN figures (the SORN proportion is very small in each case) 107 138,000 C1 154,000
Aygo 175,000
I was quite surprised by the relative proportions.
I have to say that I also don't understand the figures bandied around in the article. The "average" cost for young drivers doesn't seem to align to the table (which isn't at all clear what it is trying to demonstrate), and also doesn't seem to align with my experience.
My lad is part way through his first year of insuring his own (donated) Fiesta, and with full cover, decent mileage and commuting (but no NCD) the cost is around £650 p.a.Admittedly, he is 22, and has held a licence (but no car) for 5 years, but that is rather lower than the article might lead you to believe.
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Post by Deleted on Mar 26, 2017 10:41:52 GMT
The wordy bit is a link from the Daily Mail which is why I put no emphasis on the words, I was hoping the table with a reference to MoneySupermarket carried some level of accuracy but there again do the safest, more accident free drivers use that service when looking for insurance ? That table only represents the people who use MoneySupermarket.
Post Brexit I think it is entirely possible we will see a return to car insurance if you buy a locally built product (Qashqai, Juke, Auris, Avensis, Civic, Astra) then you will see a lower premium than imported vehicles. It would not surprise me to see the market manipulated to support buying 'British'.
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Post by Humph on Mar 26, 2017 10:56:34 GMT
It's a funny old set of algorithms they must use. Sometimes cars you'd think would be cheap to insure aren't and sometimes models you would expect to be expensive are quite reasonable. For example, a friend got fully comp insurance on a new C63 AMG estate for just over £300 recently. Ok he's in his 50s and lives in a low crime area etc but that seems very good doesn't it?
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Post by tyrednexited on Mar 26, 2017 11:03:22 GMT
...I do wonder whether the change in status of very young drivers has made a difference (actual or insurance-company "engineered") to claims, insurance costs, etc.
I insured my first car at 20, and was at that time in full-time employment. A significant number of people were straight into full-time employment from 16 or 17, but even then, many of my peers couldn't/wouldn't afford a car until somewhat later in life.
Nowadays, car-ownership from an early age seems very common, (often funded by bank of mum and dad - not much of an option in my day). Large numbers of those owners, however, appear to be in full-time "education" or unemployed, rather than full-time employment, so the market is most certainly different at the young end.
Combine this with the demise of "fronting", which was rife in my day (I think my best friend at Uni's car was insured in his mother's name), and some insight into the long-term changes in entry pricing might arise.
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Post by Humph on Mar 26, 2017 11:52:08 GMT
I had cars from the age of 17, funded by part time jobs while still in education. Not very good cars mind you, but back then you could buy something that would sort of go for a while anyway for £100 or even less. By and large I only kept them a few weeks each, applying much polish, body filler and canned spray paint with a view to turning a small profit. Sometimes the plan worked, sometimes it didn't, but if nothing else it taught me how to nurse along a less than perfect car. One, a Spitfire, had only one functioning front brake which was a bit challenging until you got used to it. A Midget had no handbrake at all or indeed any visible boot floor ( you just saw your feet if you opened the boot ). An Escort had remoulds on it with randomly self detaching tread blocks and a Triumph 1300 had a front bumper that fell off if you braked too hard. All part of the learning curve I suppose.
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