The big insurance scam
Fortunately I passed my test years ago when 2nd hand cars were cheap and i do not envy teens these days trying to get insurance. My 1st car cost me £100 and the insurance (3rd party fire and theft) was £303. So the insurance actually cost me 3x what the car cost. Ever since then my insurance has cost around 300-350 FComp whatever car I insure.
Back to the scam bit - We HAVE to have insurance, it's not like we can opt out. Insurance companys can basically charge what they like, if they all put up their premiums for everybody then we all have to pay more but a 18yr old paying £2000 p/annum a jump of 30% is huge + £600.
There is no simple answer but look for company's who are 'hungry for business' these usually offer cheaper insurance because they want to get in to a particular market i.e car insurance / bike insurance
Classic insurance normally has quite tight stipulations like driver/s must be over 21, restricted mileage etc etc so may not be an option if you are travelling high mileages for race meetings.
The other problem is new drivers get tarred with the same brush, young, just passed test, irresponsible = high premium. The roads are also these days a busy place therefore risk of an accident is higher due to an increase of traffic and we are all guilty ( i think ) of trying to get from a-b as quickly (within the law ) as possible.
Just my 50p's worth.
Help ! I have turned into a rambling old git.
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