Friday, 19 February 2016

The scam that is car insurance!

We have spent most of this week looking at cars for Eden. We looked at a couple, looked up insurance and dismissed the car within five minutes of looking at it!
Eden's boyfriend was also looking at cars this week and on Wednesday evening he found one and bought it. He'd spent the day cleaning his inside and out ready to sell it.
As he didn't have to spend as much as he thought he would on his new car he offered his old one to Eden at quite a good price.
We knew the insurance would be fine as we knew what he was paying.
So Eden bought it.

(Not her car, she would never buy pink!)
Luke was gutted he'd spent most of the day cleaning it only for Eden to have it!
On Thursday we rang up the insurance company that she'd got the best quote from.
The down payment and monthly payments aren't too bad.  We went halves on the down payment and we're paying the monthly payments,  she's paying her own petrol and Tax.
Honestly how youngsters can afford a car nowadays astounds me!
Her excess is £500 but if she "volunteers " another £450 it bring her insurance down even more.
Basically if she has an accident the car will be a write off.
It's costing us £1,366 to insure a car she bought for £500.
So we are paying for fully comprehensive insurance which is cheaper than third party, fire and theft for any third party involved in an accident with her because if she has any damage to her car it won't be worth claiming!
What a  crock!


  1. I must admit when we looked at putting Mr 18 on our insurance I nearly fell through the floor when the bloke said it was £1800.
    He was Mr 17 at the time and had just passed his test. A year later and it's 'come down' to £1200
    Mr 18 doesn't 'need' a car for work etc, so he's content to save up for a car and wait as the older he gets the insurance will come down.
    It is quite preposterous what they quote.
    Well done for you making a way for it to work xx Enjoy Eden X

    1. Thanks Rachel x Eden wasn't planning on getting a car until the 2nd year of Uni but she got a bit bitten by the bug! I find it really funny that because you pass your test and leave it for a couple of years that your insurance is less when you've probably not done any driving and you have no more experience than the day you passed!Weird!

  2. Extortionate isn't it! That's why our L is waiting until she finishes uni xx

  3. Oh my goodness I know. My dd pays nearly £1000 each year and her excess is around £300 - shocking!

    1. Mine is £350 with windscreen cover and breakdown cover. Her quote was quite a shock!