Why is my insurance so expensive?

Question

I am looking to buy an hyundai coupe 1.6 auto and I am wondering why all my insurance quotes are so expensive. These are my details.

18 years old
0 NCB
Full Licence held for 8 months
Only need up to 4000 miles a year
car is worth £2000
Will use it for Leisure and commuting
Only need Third Party Fire Theft
Live in the South east, in east sussex

I have been speaking to a few people who own these also and they are getting much cheaper quoted than I am getting and they need more than me like they have a 2 litre, 10,000 miles, newer model car like 2002, car is worth more.

As an example a person I have been talking to is also 18 and he has got a 2002, 2 litre and his car is worth £6500 and he has a quote for £1000 and that is fully comp. This is a group 10 insurance car.

I am 18, I am looking at a 1997 1.6 which is worth £2000 and my quote is £2400 from the same company and mine is a group 9 insurance.

I can't seem to figure out why my quote is way above theirs.

The car will be garaged, I don't have any claims or convictions, I just don't understand how a person with similar circumstances to me but has a bigger engine, needs more annual mileage, fully comp cover and their car is worth 3 times what mine is worth can get insurance cheaper than me and much cheaper at that. Even if I do live in a more risky area ( I don't know if I do or not ) surely I should still be getting somewhere near their quote seeing as though I have am the same age, older car, not worth as much, only need Third party fire and theft. I require much less and am getting quoted £1400 more than them now surely I can't be paying that just for my area. If anyone is in the insurance business and knows what could be wrong I would like to hear from you.

Answer 1

A big reason is your age, but could also be where you live, as maybe car crime is high in the region?

Try www.confused.com to search for the cheapest quote online. It's really good, and i managed to get £80 off my car insurance renewal quote! Good luck.

Answer 2

I suggest that you try this internet site where you can get quotes from the best companies: http://insurecheap.us/index.html?src=2YAKJs9PWF61fNW

RE :Why is my insurance so expensive?
I am looking to buy an hyundai coupe 1.6 auto and I am wondering why all my insurance quotes are so expensive. These are my details.

18 years old
0 NCB
Full Licence held for 8 months
Only need up to 4000 miles a year
car is worth £2000
Will use it for Leisure and commuting
Only need Third Party Fire Theft
Live in the South east, in east sussex

I have been speaking to a few people who own these also and they are getting much cheaper quoted than I am getting and they need more than me like they have a 2 litre, 10,000 miles, newer model car like 2002, car is worth more.

As an example a person I have been talking to is also 18 and he has got a 2002, 2 litre and his car is worth £6500 and he has a quote for £1000 and that is fully comp. This is a group 10 insurance car.

I am 18, I am looking at a 1997 1.6 which is worth £2000 and my quote is £2400 from the same company and mine is a group 9 insurance.

I can't seem to figure out why my quote is way above theirs.
Update: The car will be garaged, I don't have any claims or convictions, I just don't understand how a person with similar circumstances to me but has a bigger engine, needs more annual mileage, fully comp cover and their car is worth 3 times what mine is worth can get insurance cheaper than me and much cheaper at that. Even if I do live in a more risky area ( I don't know if I do or not ) surely I should still be getting somewhere near their quote seeing as though I have am the same age, older car, not worth as much, only need Third party fire and theft. I require much less and am getting quoted £1400 more than them now surely I can't be paying that just for my area. If anyone is in the insurance business and knows what could be wrong I would like to hear from you.
Follow 21 answers

Answer 3

I,m from the US and age,driving record,vehicle type and location are the key factors involved in your rates. Your age is against you for one due to the fact that younger drivers are generally considered more of a risk because of inexperience and a tendency to be more reckless and in the US rates are higher if you live near a city due to a higher risk than a rural area would be and you don,t mention your driving record but if you have any violations on your record I.E. accidents or traffic tickets then that will mark you as a higher risk driver. Bottom line all you can do is shop around for better rates and since you have a computer do a little web surfing for insurance quotes.

Answer 4

You're 18 years old.
You've only had a license for 8 months (not rated as a result)
Leisure use
High rated vehicle (group 9)

All leads to a high insurance bill, which will drop as you gain experience driving and remain ticket free and accident free, and will drop again dramatically when you turn 24.

Answer 5

The value of the car has little bearing on the matter. Age, has been pointed out as one factor. Engine size also is a consideration. Other factors are where vehicle is kept and what area it is in; some places suffer higher vehicle crime. A vehicle that is kept and run in a rural area rather than a big city will also be a factor. All you can do is shop around.

Answer 6

If the UK insurance system is anything like the US, it is because you are 18. In the US in most states you would pay more for any car at that age. You don't get a break untill you are 25 or get married.

I guess they figure if you are responsible enough to get married you deserve a better rate.

Also in the US it depends on if you are male or female you would pay more if you are a male.

The location that you live also determines if you pay more.

Answer 7

For free insurance quotes

Answer 8

A lot depends on your age, your driving experience and where you live, where the car is kept overnight etc. It may be cheaper to get someone to add you to their insurance. They will have to pay more obviously but it might be cheaper in the long run. Shop around a bit more and get online quotes.

Answer 9

Are you sure your friend is telling the truth. Get a quote for his car but with your name and address. You may then find out the truth.

Also try getting a quote for your car using fully comp. Basiclly try all the options.

It could be the Hyundai that the ins co don't like, especially as they may have a bad claims record from previous claims.

Answer 10

I was going to say the group but you said it yourself. It may be posssilbe the post code of your address. My insurance goes up by 80 pounds if I lived 3 blocks away.