[sammy657]

Hey guys just a quick question.

How much on average does your insurance go down when you reach 21 and live in london????

Thanks

[sidicks]

It depends on a huge number of factors.

Even if all the other rating factors are unchanged then premiums might rise slighly, fall slightly or remain unchanged.

Don't expect a large drop though!

Sidicks

[sammy657]

Ah i see thanks for the info. So im taking it the big drop is 25????

[bobbarley]

At 21 you're still a high risk driver. When you get to 25 you're generally considered to be more of a medium risk. Just keep looking for good deals come renewal time, and build up those no claims, that's the most important thing.

I started off at 19 with a Hyundai Accent 1.3, paying £700 a year FTPT, that was on the Isle of Man, you can't get much safer than that. Now I'm 26 and am still paying £700 a year, but for a Golf 1.8 turbo fully comp in Manchester, one of the highest insurance areas in the country. The difference is 8 years no claims

[sammy657]

Ah i see thanks for the info. Thats really cheap considering what manchester can be like no offence

[bobbarley]

None taken, it's well rough in certain parts. I actually got refused insurance by Admiral because I was in an M postcode!

[DVD-Man]

I don't believe insurance drops with age anymore, not like it used to anyway.

Liam

[jenic]

Insurance doesnt drop big at 21 and 25 like it used to, instead the comanies drop it a little every year from 17-25, the total drop should resemble the big drops you used to see between age gaps. Well thats what my dad tells me (he works in insurance).

Personally I find getting older only makes it easier to find cheaper quotes, if you look long and hard enough you can get pretty much anything whenever you want, perhaps with the exception of age 17/first year of driving.

I found however, once i had 2 years driving experience my quotes plummeted, hence me owning a group 15 bike and group 16 car @ 19.

[un1eash]

Mine dropped abit when i was 21 compared to 20, but the biggest drop was when i hit 25. Compared to 24 it was a £400-500 difference.

But as others have mentioned theres alot of other factors to take into account.

[eL-ZilCHo!]

Like others have said, not a great deal. In fact I'm fairly sure it either went up slightly or stayed the same for me when I reached 21. Just general insurance increase cost across the board I think played a part in that one.

I wouldn't expect a big drop though, no claims bonus seems to be more important. It will go down eventually though.

I'll let you know if being 25 makes much of a difference when I get my renewal through in February or whenever it's due.

[un1eash]

To find out if its cheaper when your 21/25 simply fill out an online comparison with your DOB as yesterday plus the correct year, its what i did and meant i knew that when i turned 25 a few months later i could afford the car i really wanted.

[thesilverfox]

My premium has dropped £150 this year, and I'm now 24. (from £500 down to £350 on the same car).

I've said before and will again: it depends on how the actuaries at the insurance companies want to diversify their risk and bolster their portfolio of customers, not to mention the usuals ...

So when you get renewal quotes going up for "no reason", the insurance company has probably decided they simply don't want your 'risk category' at the present time.

There's no loyalty in the insurance market. In 6 years, I've used Tesco, Aviva, Privilege and now Admiral. No doubt next year it will change again ...

[Chrystal1986]

Does it go by age still? It's just I passed my test over 6 years ago (when I was 17). I first had a Nova 1.2i and was with Norwich union, they chaged me around £750 for the first year Third Party Fire & Theft... I did get quotes elsewhere, they were wanting over £1200! One bloke at another insurance provider asked what my cheapest quote so far was, I told him £750 he replied "I think they have probably made a mistake" haha, yeah, right.

Anyway, I got a Ford Focus 1.6 Zetec when I was 20 years old (My Nova's insurance roughly came down by about £50 - £100 each year)... and I insured it with Tescos, fully comp... and they charged me £350 at 20 years old. I'm now 23 and my last renewal was April just gone, the price was £250, still fully comp.

Insurance prices vary on alot of things, not only the car:
Value
Annual milage
Use
Age
Sex
Area you live
Where the car is kept overnight/day
and more...

[un1eash]

Originally Posted by Chrystal1986

Insurance prices vary on alot of things, not only the car:
Value
Annual milage
Use
Age
Sex
Area you live
Where the car is kept overnight/day
and more...

Figure this one out, i'm with elephant on the Z4 Roadster as i have 1 years NCD, 3 points and 2 claims in the last year. Now if i say the car is kept on the street it is £80 cheaper then saying its kept in a locked garage?!?!?

[Chrystal1986]

Originally Posted by un1eash

Figure this one out, i'm with elephant on the Z4 Roadster as i have 1 years NCD, 3 points and 2 claims in the last year. Now if i say the car is kept on the street it is £80 cheaper then saying its kept in a locked garage?!?!?

Lol, see what I mean... it can vary alot in all sorts of ways.

I'm just glad mine is fairly cheap for my age so I wont complain. Mine is kept on the driveway, wonder how much more/less it would change if I said it was kept on the road.