Insurance Costfor Young Driver

[Tatey]

First time poster here.

I'm 19 and im just about to finish my first year of a mechanical engineering degree. I'm really interested in building myself a roadster, i've just purchased the book and i was just wondering about insurance since im such a young driver.

I've held my licence for over a year now and have a years driving experiance as a named driver, i'll be getting my own policy at the end of August.

Will an insurance company even contemplate insuring me? If so how much would people roughly estimate, bearing in mind i've been quoted £1150, with a £150 excess, for fully comp insurance on a 1.7Di Corsa on my own policy.

If getting insured for the year wouldn't be possible then what would the cost of getting insured for the occassional weekend be? I'd hate to finish building the car to then find out i can't drive it.

[zrblue]

I too am pretty young, only 20.

Just finished my jig table and off to pick up some steel later today.

Ive had a brief squint about for insurance and some wont cover anyone till they are 21, some 25, and im sure theres a few who will cover drivers of any age...not sure how expensive those will be though.

[Tatey]

Good to know someone else is in the same boat. I think i'll plan the buid now and start builing once i've got atleast £500 and if i finish it before i can insure it then i'll lend it to my dad, would be a nice present if u ask me.

[bobbyh]

in the same clube hear been 20 i'm 21 in sep so by the time i finish my build i will be able to insured on the car but we will see

[Tatey]

What have both of you budgeted for your builds, including the IVA test?

[zrblue]

What have both of you budgeted for your builds, including the IVA test?

My current budget is around £2000. I already have all the tools required though. And plan to build the majority or body panels, minus the scuttle, nosecone and wheel arches out of alloy sheet. That makes a huge saving.

[bobbyh]

I have not set one cuz if you dont have one you cant over spend so how ever much it costs :D

[slimtater]

I am young and I have just had the renewal quote for my 'blade powered Roadster and it was £187. Not being happy with that, I found the same cover for £136. That is fully comp, 3000 miles per year with the car garaged on a DE3 postcode.








We are classing 38 as young aren't we? :rolleyes:

[SeriesLandy]

What have both of you budgeted for your builds, including the IVA test?

I'm 22 and havn't got that far yet. I've got the donor car and chassis built and other little bits and i'm up to £1000 so far. Next bits are £700 ish (bones uprights ect) I don't want to make them as i'll only cock it up. Then its body panels, ali, wheels, steering rack, seats, suspension. It all adds up.

[Tatey]

I think i may build an off road buggy first and see how easy it is to make that, meaning i should be able to test out my welding skills, save up some money and build up my tool collection, then ill have something to do once i run out of money to fund the kit car lol.

[bobbyh]

i have jsut spread the cost i startd my build when i was 18 at college so its taken a long time but i have been abale to spread the cost over the years and now i have a lot of the parts.

but i have built with out a donor because of lack of space so it has run the cost up but you do what you have to do to. and spend wat you have to.

[Tatey]

Right after reading a fair few posts on the forum today i've decided to scrap the dirt buggy idea and instead put the money towards starting the car, im going to wait until i have atleast £500 saved up before i start, meaning i should be able to build the chassis, buy a donar and some other parts. Then as the year progresses ill put more money into the build. Im setting myself a budget of £2000 for the complete build.

I just need my Haynes build manual to arrive now and then i get sorted writing a plan and organising everything.

[zrblue]

Right after reading a fair few posts on the forum today i've decided to scrap the dirt buggy idea and instead put the money towards starting the car, im going to wait until i have atleast £500 saved up before i start, meaning i should be able to build the chassis, buy a donar and some other parts. Then as the year progresses ill put more money into the build. Im setting myself a budget of £2000 for the complete build.

I just need my Haynes build manual to arrive now and then i get sorted writing a plan and organising everything.

Sounds a plan!

Ive got a budget for mine based upon listing every single part ill need right down to things like screws for the jig table and estimated petrol costs. All of it is really projected/estimated costs based on research. I tend to up date it week to week with what things have cost me that week. I also keep an actual spending log too.

Ive spent a fair bit so far and not really done a huge amount. Spent roughly £285 so far and thats gone on a shed, slabs, sharp sand, chipboard, and screws. Ive only just finished the jig table not half an hour ago. Picked up my steel this afternoon. What a job that was cutting it from 6m lengths to 2m lengths in the steel stockist yard so itll all fit in the car lol. Hope to get it all cut this week/weekend ready for welding next week.

[Tatey]

Thats the kind of organisation im looking to have. Although i've already got a garage to build it in, i just need to convince my dad that he doesnt need to use it for the next year or 2 lol.

I've got a few months before i'll have bought the required tools and have saved up £500, so plenty of time to write a detailed plan of everything im going to spend. I've literally just bought a used black and decker corded drill for £21 from ebay, i just need to buy a gasless mig and pillar drill, that will be another £150. I've already got an arc welder so the thick metal that the gasless mig wont be able to weld properly with my skills i can just get out my arc welder. Then i should have the required tools.

[Tilly819]

got a couple of quotes at stonligh for when i finish my car

21 years old
1100cc honda blackbrid 165BHP

adrian flux
5000 miles £1600
3000 miles £850
1500 miles £700

Footman James

6000 miles £900
3000 miles £700
1500 miles £350

Age 21, no no clames but 2 years clame free on company car, no convictions


PS dreem on about £2000 budget iv spent over 4000 and am only just about to get a rolling chassis granted my engine cost me £1200 and i do have the shocks
and seats and stuff in the 4K

Tilly

[zrblue]

Thats the kind of organisation im looking to have. Although i've already got a garage to build it in, i just need to convince my dad that he doesnt need to use it for the next year or 2 lol.

I've got a few months before i'll have bought the required tools and have saved up £500, so plenty of time to write a detailed plan of everything im going to spend. I've literally just bought a used black and decker corded drill for £21 from ebay, i just need to buy a gasless mig and pillar drill, that will be another £150. I've already got an arc welder so the thick metal that the gasless mig wont be able to weld properly with my skills i can just get out my arc welder. Then i should have the required tools.

Yep ive got an arc welder too and most tools ill need for the job.

Aldi is doing a Mig welder this coming Sun for £123.99, looks fairly decent.
http://www.aldi.co.uk/uk/html/offers/2867_9841.htm

Alternative to that, im sure screwfix do one at £79 under the brand "No Gas" or something similar. only goes upto 90amps though.

[Tatey]

Yep ive got an arc welder too and most tools ill need for the job.

Aldi is doing a Mig welder this coming Sun for £123.99, looks fairly decent.
http://www.aldi.co.uk/uk/html/offers/2867_9841.htm

.

Where did you get the £123.99 price from? Its showing as £140 on the site. Can my overdraft take it....i think so lol, looks like a half decent welder and it can take gas or gasless.

Im suprised that those insurance prices, much cheaper than i thought they would be, thanks very much for that.

[frankie boy]

HI
Welcome to the forum. I think that at a budget of only £2000. It would be tight. I built my car for around £3500. That’s with my donor costing £50.
My son is nineteen and has just started building a roadster. He got a sierra for £130. With most parts in good condition. He is using a 20liter zetec from a mondao that we bought for £180. With only 43000 miles on it. I think his in line to spend around £3500. On the build plus the IVA. Only time will tell.

[zrblue]

Where did you get the £123.99 price from? Its showing as £140 on the site. Can my overdraft take it....i think so lol, looks like a half decent welder and it can take gas or gasless.

Im suprised that those insurance prices, much cheaper than i thought they would be, thanks very much for that.

Sorry, my mistake. It is near £140 like you say.

Just checked out speedy tool hire and theyve got mig welders starting at £45 a week...not sure if it comes with any wire or anything though.

[Tatey]

Im still waiting for my book to arrive, would you be able to tell me what thicknesses of metal needs to be welded? From what i've read the chassis is made out of 1.6mm box section which should be easily welded using an arc welder with a bit of practise.

[AshG]

sorry to be negative but i dont think you can do it for 2k. handy andy is aiming at 3k and its gonna be really tight.

on the plus side insurance is pretty reasonable on kit cars.

[Tatey]

I guess we'll see how the build goes, ill try and keep accurate accounts, im really looking forward to getting started now.

[HandyAndy]

sorry to be negative but i dont think you can do it for 2k. handy andy is aiming at 3k and its gonna be really tight.

on the plus side insurance is pretty reasonable on kit cars.

my "plan" is a 3k budget but am prepared to go over if needed, its more a case of justifying my "toy" to the family etc.
i,m hopeful that i will be on the road for the 3k but all depends on if i keep a level head & not get carried away wanting fancy bits straight away,
tho i,ll be honest that when my car is built & passed iva i will be putting a new engine in which i reckon will cost me approx 1k for engine, megajolt, rolling road setup , carbs etc so in reality it,ll be a 4k build.
the 3k is just to get me on the road, i hope :o :D
good luck with all your builds & if you can get a car on the road for 2k you are a better haggler than me & i thought i was good, said in humour:cool: :D
cheers
andy