Any Insurance Experts?

[Region3]

It's been running since Aug/Sept last year Steve.
He won't have to pay anything to cancel because he paid for it all up front (money left to him). Any differential will be a cheque they send to him.

It was about £2,700 for the year Andy. It's only a 1.2 Corsa but he's only 17 so insurance is stupid.

He asked about switching the policy to a bike today and they wouldn't (couldn't) do it. They said the 2 are completely different.

I like the idea of switching to 'laid up', get the £1,200, then cancel that when he manages to sell it.

I'd just worry that they'll impose a huge cancellation charge and send him a bill if/when he cancels that one as he'll have already had the refund.

Can they do that?

 

[Andy]

£2700 are you mad?

Andy

 

[Region3]

I'm not mad Andy, I didn't pay it.

The trouble is that's what it costs for a 17yr old lad to insure even the slowest crappiest of nails.

They have no patience at that age. Just passed their test and all they want to do is get a car and start going where they want when they want.

 

[surefire]

Having paid so much already, can you not convince him to not bother with the bike and just keep with the car until the policy expires?

 

[Macster]

Region - its one thing him paying out £2700 for a years Insurance, and with a 17yr old of my own, I realise thats what it costs etc, but having done it, and now being 'mobile' etc, it would be just plain stupid to let him 'cancel' it in and lose a packet in the process.

Mind you, the most stupid thing he could possibly do in the world would be to get a Bike ffs, much as I love Bikes, - a 17yr old on a Motorcycle is just a statistic waiting to happen imo.


PLEASE do everything possible to disuade him from getting a Bike ??

 

[Region3]

Region - its one thing him paying out £2700 for a years Insurance, and with a 17yr old of my own, I realise thats what it costs etc, but having done it, and now being 'mobile' etc, it would be just plain stupid to let him 'cancel' it in and lose a packet in the process.

Mind you, the most stupid thing he could possibly do in the world would be to get a Bike ffs, much as I love Bikes, - a 17yr old on a Motorcycle is just a statistic waiting to happen imo.


PLEASE do everything possible to disuade him from getting a Bike ??

I agree. I was quite happy when he didn't want a bike and instead waiting to learn to drive.

However, he can't afford to run the thing now with petrol prices as they are and little things that go wrong with cars. (He's only a student with a part-time job).

Surefire - That was what he was originally going to do, but now it's looking like his brother's going to need a car sharpish and this just solved everything in one go.
Still not sure it'll happen due to other things, but I don't see it as wasted money if he does. Granted he'll lose out on maybe £150-£200 but what he will get back is a lot of money at his age when you've got nothing. Plus bike insurance will only cost him about £400 a year.