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Old 25-11-2013, 03:29 PM   #1
gtfpv
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Default YOUNG DRIVER ( extra costs ) ?

what do you have to pay extra if your young these days . ? insurances , green slips ? regos? etc ? third party / comprehensive cover ? ages catagories etc etc .

example : child becomes learner driver . how much does mum and dads car costs go up ?
* what if learner driver has own car to drive ? does mum and dads car costs also go up . ?
and anything else you can think of .
THANKS

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Old 25-11-2013, 04:04 PM   #2
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Default Re: YOUNG DRIVER ( extra costs ) ?

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what do you have to pay extra if your young these days . ? insurances , green slips ? regos? etc ? third party / comprehensive cover ? ages catagories etc etc .
Yes to all the above.

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Originally Posted by gtfpv View Post
example : child becomes learner driver . how much does mum and dads car costs go up ?
If you notify your insurance company that someone under the age of 40/30/20 will be driving and you want coverage for them, then it will increase.
Check your insurance policy.
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what if learner driver has own car to drive ? does mum and dads car costs also go up . ?
I cant see how this would affect your insurance, unless it's insured in your name and not the learners.
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Old 25-11-2013, 04:06 PM   #3
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Default Re: YOUNG DRIVER ( extra costs ) ?

In my case I would need to change the policy so under 25s can drive the car which equals $$$$$
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Old 25-11-2013, 04:16 PM   #4
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Default Re: YOUNG DRIVER ( extra costs ) ?

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example : child becomes learner driver . how much does mum and dads car costs go up ?

When my two daughters were learner drivers/P platers the only thing that went up were the excess charges for them when driving my car, everything else remained the same.
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Old 25-11-2013, 04:37 PM   #5
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Default Re: YOUNG DRIVER ( extra costs ) ?

Extra excess for me driving the GT and have to be supervised driving the mustang with extra excess aswell. Have full license and am 20.
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Old 25-11-2013, 05:28 PM   #6
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Default Re: YOUNG DRIVER ( extra costs ) ?

Quote:
Originally Posted by gtfpv View Post
example : child becomes learner driver . how much does mum and dads car costs go up ?
* what if learner driver has own car to drive ? does mum and dads car costs also go up . ?
and anything else you can think of .
THANKS
Not sure about this, but have found the opposite occurs with the last two insurers I've been with. I'm in my late-twenties and on a open-licence, by adding my mother as an additional driver on my policy, my premiums went down by about 30%.
If they have their own policy and add you it will probably go down a bit.

My current insurer has some added fees on a few conditions, like drivers under 25, or who have has a suspension in the last 5 years are charged a extra $800ish in excess.
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Old 25-11-2013, 09:02 PM   #7
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Default Re: YOUNG DRIVER ( extra costs ) ?

bit of discrepancy here . some saying only the excesses go up for the young driver , others are saying everything goes up .
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Old 25-11-2013, 09:31 PM   #8
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Default Re: YOUNG DRIVER ( extra costs ) ?

I think for my parents everything went up if that helps
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Old 25-11-2013, 09:38 PM   #9
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Default Re: YOUNG DRIVER ( extra costs ) ?

the real and more accurate answer to all of the above is: It depends on your specific policy, your specific age, your specific vehicle, your specific suburb, your specific risk profile.Your quote may not be anything like your similarly insured neighbour, call your insurance company.
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Old 25-11-2013, 11:50 PM   #10
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Default Re: YOUNG DRIVER ( extra costs ) ?

I would suggest insuring any vehicles in the parents names & having the under 25 driver listed on the policy. This should only increase the excess.

Insurance companies are business' like any other, they want to make money.
So shop around for the best deal.
Also the MAI (motor accident insurance) on the rego may increase for a young driver...?. Ring the motor vehicle registry & ask. It's free to get quotes from insurance companies.
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Old 26-11-2013, 07:31 AM   #11
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Default Re: YOUNG DRIVER ( extra costs ) ?

most insurance company's have a online quote id suggest you do the online quote using the different variables (aami has this)
other things to consider are tyres,gearboxes and diffs lol jokes
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Old 26-11-2013, 03:22 PM   #12
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Default Re: YOUNG DRIVER ( extra costs ) ?

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Originally Posted by FlivverFord View Post
Insurance companies are business' like any other, they want to make money.
So shop around for the best deal.

Great advice there. I changed mine a few months ago after getting a few quotes, it changed from $200/month(!) for about $7k cover, now I'm paying $65/month for about $14k cover with a different company. 200% cover for 33% of the price .

Definitely pays to look around
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Old 26-11-2013, 05:37 PM   #13
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Default Re: YOUNG DRIVER ( extra costs ) ?

To put my name on my parents insurance for their cars, it went up from around $500 a year to just over $2000.
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Old 27-11-2013, 10:28 AM   #14
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Default Re: YOUNG DRIVER ( extra costs ) ?

I pay just over 1200 a year for my ute for a 21 year old. I did an online quote straight after for a 30 year old open licence holder and the price nearly halved. I also have a $750 age excess on top of the standard excess in the event of an at fault claim.
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Old 27-11-2013, 12:42 PM   #15
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Default Re: YOUNG DRIVER ( extra costs ) ?

Yep... I remember those days...

Ford were promoting the Festiva with 'Free Insurance' so that got me through the door.

Got my renewal... $2300 for full comp. That was 12 years ago!

I think that was the same as around 2 months of my after school income..

Now I can tick the box to say that no one under 30 will drive my car...

Was going to also suggest you fool around with the online quote systems.

Insurance pricing is a bit of an enigma... when I added my name to my wife's policy it went down $30, even though I'm a male and had a claim 4 years ago.

Go figure ay....
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Old 27-11-2013, 05:37 PM   #16
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Default Re: YOUNG DRIVER ( extra costs ) ?

This is how the insurance companies work:

http://www.youtube.com/watch?v=wz-PtEJEaqY
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Old 27-11-2013, 11:00 PM   #17
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Default Re: YOUNG DRIVER ( extra costs ) ?

As a person who works for a insurance company... couple of things.

Normally you cant list a learner driver on a policy as they arent licenced to drive alone... but if they are involved in a accident, a higher excess will apply. Either an age or inexperience excess.

When they reach their Ps. There is 2 options.

You can list them on the policy, this will increase your premium, but the excess for them will be less then if you did not list them on the policy. (They will still have a higher excess then the standard excess - like an extra $400 - $500)

2nd option, you dont list them on the policy, your premium will not be affected BUT they will have a high excess. Which can be a additional $1500 or something simular on top of the standard excess.

Again this will apply to certain insurance policies, so the best to check with your insurer.

Also check if you have restrictions on drivers... some policies to reduce risk/premiums, they dont cover drivers under 25/30/40 or whatever.
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