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Insurance seems to be completely out of the price range of young drivers.
I have an X-trail that we kept for my son to drive. It is insured for $22000. When he got his licence we informed the insuror that it was going to be driven by a driver on P plates. I have a 60% no claim bonus and multi insurance rebates but despite this the premium was over $2000. Without the rebates the premium would have been over $6000. ie 30% of the value of the car. This was for my son to drive a car fora few months a year when he isn't away at uni.
If he was insuring the car then there is no way this could be afforded. The car would not be insured and hence no ability to build up a no claim bonus.
How can a young person actually build up a no claim bonus?
This affects all of us as if we are hit by a young driver then the likely outcome is that the car won't be insured.
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