78dude wrote:Insurance is very expencive and I dont know why to be honest? When you need to pay 200% more for your policy then the price of the car then there is something wrong....
£5000 for a car policy is to much!
Next time you call your insurance company there you get a f...cking hi price. Ask them to get a qote for a Boeing 737-500.... People carrier with twin Turbofan engine.... Topp-speed around 540 mph
"No sir its not parked in my drive way but at the airport"

you have to look beyond the value of the car you are insuring. Yes insurance is bloody expensive for new/ young drivers. But it boils down to much more than the car and the cost of sorting that out.
During your first year of motoring you are statistically most likely to have an accident. But it is the cost of damage you do to other people's property such as another car, or buildings or highway furniture. Plus the insurers have data which suggests you will probably have a car full of mates which you will injure when you visit the wall backwards in your RWD BMW.
Currently no UK motor insurers are making a profit out of their motor policies in isolation. Most have an operating ratio of between 102% - 110%, meaning that every penny they collect in premiums is paid out and then some more in claims.
Currently rates are relatively low as insurers compete on price with each other, so rate increases are on the cards, NU already is putting up it's rates.
It's a continual boom/bust scenario, they all drop their rates to obtain customers because their competitors are, then they write a whole book of smelly crappy business and piss & moan 12 months down the line when all of those iffy customers they attracted have had accidents and the cost of claims outstips the premiums they collected.
It is estimated that it will be 2010 before a UK motor insurer makes a profit. Boo hoo we all say.
Most expensive UK motor claim, Selby rail crash £50Million reserve on that claim. If you think they probably charged the bloke with the landrover about £200 for premium.........