How Much?! The problem with car insurance in the U.K
Why car insurance in the U.K is completely flawed for young drivers
As a 20 year old Brit, I passed my driving test as quickly as I could and as of June this year I will have been driving three years. In those three years, I have driven three different cars, drove at least 10,000 miles and regularly driven long journeys out of my home town and most importantly I've never had an accident or claimed in three years. On top of this, I'd rate myself not as a 'skilled' driver but a confident driver and driving in an unknown location doesn't bother me. So you're probably guessing that my insurance will be relatively cheap. Oh how wrong you are.
My current car is a 2012 Vauxhall Astra GTC 1.4 turbo, which cost me around £750 to insurance in August 2018 for the year. Yes you read that right! This included having both my parents insured to the car and an annual milage of 8,000. I really don't know where insurance company get their figures from. I know statistically I am more likely to have a crash, but how come Dorris who is 75 only has to pay around £200 for the whole year. Furthermore, one crucial thing I haven't mentioned yet is that in my first year of driving, I drove my dads 2006 Mercedes A-Class 1.5 litre weapon. This car when I drove it was probably worth no more than £1k however the insurance cost me 1.5k to be insured as a named driver for the year. So that £750 for my Astra I guess is still a bargain.
It get's even worse when looking at 'slightly' expensive cars with engines bigger than 1.5 litres. For examples sake, say if I wanted to drive a used 2014 BMW M4 with 61,000 miles on the clock, how much do you think it would cost me? £2k? £2.5k? £3.5k? The details I put in for my quote was that I would be the only driver, only drive 4000 miles per year and the car would stay in the garage at home all day. With this information the cheapest insurance quote I got with a black box (which is pointless on an M4 I know) was £8065.12 for the year (see below). Yes you read that right, that is not a missprint. How did they get the figure of £8k for a car that would sit in the garage and only be driven 4k miles a year. This is the issue with U.K car insurance as the insurance is more than a quarter of the cars price.
Maybe I am just wanting my own way and wish that to I could drive a Ferrari in which the insurance would only cost me £100 (This is a joke, I don't actually believe this). However, there is no denying that insurance in the U.K is ridiculous compared to other countries. Yes, younger drivers should be charged more than somebody with 30 years driving experience, but is there really any need for it to be so extreme? There's no wonder that less and less younger people are driving these days as they simply can't afford to. I know many friends who have passed their driving test, but don't actually drive afterwards as they can't afford the insurance. If you want my honest opinion, something needs to change drastically with how the U.K issues insurance as at the moment all it acts is one big restriction for younger drives.
Thanks for reading my rant.