[hks786]

I'm just curious. I always hear about young guys that are 18 driving E92 M3s and in some thread I just read about a 16 year old driving a 350z wtf. Things are very strict over here and insurance just flat out refuse to insure certain cars until you reach a certain age.

When most people pass driving tests here in the UK when you are 17, you would be paying £1-2000 to insure even things like Corsas and Polos. Put it this way getting insured on something like a Audi A3 1.6 would be a stretch! That said some companies will cover you if you are willing to pay something like £5000 and that would only cover something like a Merc C220

Why is it so easy to get insured in the states on such good cars?

[Freakazoid]

good question....general rule of thumb is insurance is largely based on your driving history, then your age.

Your driving history is the only thing that would prohibit you from insuring a particular car (usually).

that said your numbers aren't too much different than what they'd be paying here.... e.g. a 16 year old with a 350z would be paying probably at LEAST 3 grand a year.

[Buegie]

kids are insured on their parents' policies, not on their own. Alot of people don't get their own insurance until they're 21+

[SleepyE90]

That's just how it is.
In California, you are able to receive your license at the age of 16.
You see tons of 16 and 17 year olds driving 335i and M3s...
I even know of a 17 year old with a Murcielago under his own name.
Insurance in the states doesn't really have any restrictions due to age and car, however it is more expensive for new drivers.

[MrRoboto]

Lots of children in the US who have a 'sense of entitlement' like they deserve a 60k car while in their teens. Parents are the ones to blame.

[hks786]

Originally Posted by Freakazoid

good question....general rule of thumb is insurance is largely based on your driving history, then your age.

Your driving history is the only thing that would prohibit you from insuring a particular car (usually).

that said your numbers aren't too much different than what they'd be paying here.... e.g. a 16 year old with a 350z would be paying probably at LEAST 3 grand a year.

lol, but over here you simply couldnt get insured on a 350Z until you hit maybe 22-25. generally after hitting 25 you can get insured on anything.

Originally Posted by Buegie

kids are insured on their parents' policies, not on their own. Alot of people don't get their own insurance until they're 21+

Oh yeah I forgot about that. That does help A LOT, but as I say there are some cars you just cant get insured on until a certain age even as a 2nd driver.

[Freakazoid]

Originally Posted by Buegie

kids are insured on their parents' policies, not on their own. Alot of people don't get their own insurance until they're 21+

this is a good point as well, this is usually what will keep their premiums down.

[hks786]

Originally Posted by MrRoboto

Lots of children in the US who have a 'sense of entitlement' like they deserve a 60k car while in their teens. Parents are the ones to blame.

+1000

I know you can argue that noone really needs fast cars like M3s but I dont care what anyone says something like an M3 is too much car for the MAJORITY of 18 year olds and young people. Yeah yeah I know some people are naturally very good drivers but most arent and cant handle a fast RWD car. Based on that I think it is fair to say NO young people should be allowed to drive certain cars.

[Freakazoid]

Originally Posted by hks786

+1000

I know you can argue that noone really needs fast cars like M3s but I dont care what anyone says something like an M3 is too much car for the MAJORITY of 18 year olds and young people. Yeah yeah I know some people are naturally very good drivers but most arent and cant handle a fast RWD car. Based on that I think it is fair to say NO young people should be allowed to drive certain cars.

yes...your restrictions make 10000% certain, and would be great to have in the US

[hks786]

Also, I like the idea of working your way up. If you start with an M3 for example, what the hell are you going to get next?

[MrRoboto]

Originally Posted by Freakazoid

this is a good point as well, this is usually what will keep their premiums down.

That would mean the parents are the registered owner of the car? The child would be classed as a casual driver.

[Buegie]

Originally Posted by hks786

Oh yeah I forgot about that. That does help A LOT, but as I say there are some cars you just cant get insured on until a certain age even as a 2nd driver.

yes, I don't know enough about insurance to say why that's the case, but I can say it's not a terrible idea

[bmwmthree]

Originally Posted by SuperlativE90

I even know of a 17 year old with a Murcielago under his own name...that his parents bought him.

fixed.

[BTM]

Originally Posted by hks786

Why is it so easy to get insured in the states on such good cars?

Having a large population helps as well. More people paying insurance and not collecting to more easily cover those who do collect. I can attest that for the amount I am insured for, were it based simply on how much I've paid so far, would not cover me rear-ending someone. The more people there are "behind" me paying in, if I do, the less of an affect it has on the company, and my rates will certainly go up, but ideally (from the producer standpoint) not prohibitively, since they can easily cover me. Hopefully that makes some sense. I've been indulging.

[BTM]

Originally Posted by hks786

Oh yeah I forgot about that. That does help A LOT, but as I say there are some cars you just cant get insured on until a certain age even as a 2nd driver.

That's stupid. There's a price for everything. Say I'm 16 with a $300k supercar. Where I willing to pay it, what company wouldn't accept $300k a month to insure me?

There is never a case of someone being uninsurable, just not being able to afford the insurance.

[Freakazoid]

Originally Posted by BTM

There is never a case of someone being uninsurable, just not being able to afford the insurance.

and that's why 'self-insuring' yourself is always an option if you're that loaded

[Freakazoid]

Originally Posted by MrRoboto

That would mean the parents are the registered owner of the car? The child would be classed as a casual driver.

correct on the first, not correct on the second. (as my first car I was under my parents policy).

The parents name are required to be on the title (co-owner), but both parent and child are considered to be active drivers.

Getting on my own insurance was a not fun wakeup call when I was 18 , hell of a jump for me at least

[hks786]

Originally Posted by BTM

That's stupid. There's a price for everything. Say I'm 16 with a $300k supercar. Where I willing to pay it, what company wouldn't accept $300k a month to insure me?

There is never a case of someone being uninsurable, just not being able to afford the insurance.

No, really. Trust me lol. I've dealt with almost every insurance company out there and here things are tough. When insurance companies refuse you insurance even when you offer more money they still dont accept your offer.

Especially high performance cars you need to look really hard to find insurers that will cover you. Usually it will be some company you've never heard of that are willing to cover you at an extortionate rate. I'm just saying though compared to the US, things are very hard over here in the UK when it comes to insurance at a young age.

[gaifaun]

The same goes for Australia too. I heard you cannot drive turbocharged or forced induction cars until you reach a certain age.
its such a sad sight to see an 18 year old driving a GT3 RS or a Gallardo Superleggera

[Schm]

I <3 Free Market. Anyone can get any car insured, it will just cost a shitload. And like said above, most are insured under parent's policies (I still am )

[BTM]

Originally Posted by hks786

No, really. Trust me lol. I've dealt with almost every insurance company out there and here things are tough. When insurance companies refuse you insurance even when you offer more money they still dont accept your offer.

Especially high performance cars you need to look really hard to find insurers that will cover you. Usually it will be some company you've never heard of that are willing to cover you at an extortionate rate. I'm just saying though compared to the US, things are very hard over here in the UK when it comes to insurance at a young age.

Yea I agree that in the UK insurance is more expensive, but in addition to geographical/demographic nuances, what about vehicular crimes? I'm genuinely curious, as it seems there are more break ins and vehicle thefts in the UK than the US. This could also be a contributing factor.

Location is a big factor in determining insurance rates in the US, and while I'm sure it is in the UK as well, criminals are more "mobile" in the smaller country, meaning that one from London can more easily commit a crime in Bristol than one from Tuscon can in Portland. So location probably plays a lesser role.

As for being uninsurable - you hit the nail on the head. One company declining to insure you does not make you uninsurable, just uninsurable by that company. There will always be a company somewhere willing to insure you for something. You might need to look hard or consult an agent, but at the end of the day, someone will insure you.

[woosh]

Originally Posted by gaifaun

The same goes for Australia too. I heard you cannot drive turbocharged or forced induction cars until you reach a certain age.
its such a sad sight to see an 18 year old driving a GT3 RS or a Gallardo Superleggera

Yep, the insurance system down under is very similar to the situation in the UK.

You're also right about the age restrictions. You can only drive a turbocharged/supercharged/V8 or high powered 6 cylinder (eg 350, e46 m3) car once you've attained your full license (at 20yo). This law started in New South Wales a few years back and has now spread to most states within Australia. Why did it start you might ask? Well because too many teenagers kept crashing... and naturally the government blamed the high powered nature of the cars (the trigger event was a blue r34 gtr crashing into a light pole at $160kmph - link)

I remember back when I was 17yo and my mates drove imported turbo cars (Silvia's, Skyline's, Supra's etc - before the above law kicked in), they were all paying around AUD$5,000 insurance for cars worth sub $20,000 lol. They didn't rely on mum or dad I guess.

I'll admit though that I have been on my parents policy since day one. And I'm glad that I have been. I've probably saved in excess of $10,000 by now, just by using their account. Now to wait till I hit 25 lol