Edit: Just realised this is from 2017 so it's probably no longer an issue, but for the time it took me to type it, I'm keeping it here - hopefully my rant will help somebody else who is on this thread looking for a resolution!
(Original post by hayley.e)
So I have been driving for 6 months now, I was with the company 'Insurethebox' so I had a black box fitted that monitored my speed, breaking etc. My policy has now been cancelled due to speeding and I'm receiving quotes for £7,918 and I'm wondering if there is anything I can do that will bring these quotes down? Any suggestions will be great!
There's certain things you can do to bring your premium down. I had a similar issue when I started driving. I passed my test at 17, got my first car at 19 and although living in a nice area with named drivers on the policy ended up with a best quote of £1700.
1) Make sure you put a fake number in comparison site quotes (they will call you, and it will drive you insane).
2) Use comparison sites. Different ones will bring different results. For me, years ago, Confused.com had the best quotes, but nowadays I get the best ones from ComparetheMarket.com
3) Try independent insurers who don't use comparison sites (LV, Directline)
4) When you start your search, mess around with quotes (i.e. once you get a quote, try changing small things and seeing if it brings it down - they should email you each time you change it so it will save the quote for you automatically). Things to consider are:
- Named drivers (family who have access to another car for example but are 'insured' to drive yours - insurers think this means you will drive it less, so quotes go down - I think you can put a fair few on (5 maybe?) so perhaps consider parents, grandparents, siblings, aunties, uncles).
- Where you will keep your car - for some reason, the insurance is often cheaper when you park on a road rather than in a driveway (avoids scuffs and bumps) or in a carpark.
- Use of the car (don't lie here, as if you use it for business/work, you will have to declare it or your policy may be redundant if you need to claim, and it's fraud too) - but if you can start getting a bus to work, maybe consider that.
- Type of insurance - fully comp may be desirable, but it may be worth considering third party, fire and theft as this covers less so is likely to cost less.
- Miles per year - they want an estimate for how far you'll drive. If you state 10,000 it'll cost more than 4000. You can always change it, but consider more frugally how far you will travel (work it out on average per week and times by 52).
- Voluntary excess - this is how much you will have to cough up on top of your compulsory excess if you are in an accident. If you set it higher, your premium will likely be cheaper. Sometimes you can add £200 voluntary and it'll go down by a mere few pounds so it isn't worth it, but if you mess around with it, you may find it goes down substantially.
5) Failing all this, it may be worth considering young driver insurance (give it a quick google) - I know Endsleigh do student insurance on cars and it was the cheapest for me as a student. Other providers also offer similar things.
6) You could also call some places and see if their quotes differ from any online ones.
Alternatively, it may be a monthly payment sort of deal, or having to change your car for a cheaper to insure one.
Keep modifying your quote and see what the best outcome is (but remember to make sure you are honest i.e. not lying about the use).
Best of luck!