just wondering if insurance companys let you pay monthly (e.g.direct debit) at 17?

I've always done it monthly up till my last 2 cars when I could actually afford to pay it off in one go.

They can't expect a 17 year old to have over a grand sitting in the bank ready to go on insurance.

ill be more expensive tho paying it monthly rather than one of, not that much of a difference tho.

Edited 13 December, 200718 yr by dhali

direct line are decent, they dont charge apr but you have to give em a big lump some. Mine is £1500 and i pay monthly, cost £300 then £120 a month for 10 months thereafter.

thanks for the replies.

directline is who ill be going with i reckon, £1300 on my 1.05 coupe

£1300? Is that fully comp or tpft ? Sounds to me like you are being screwed for every penny! I never paid that much when i 1st started driving and i had a mk2 1043cc.

I'd try a few different quotes and then try to get a price match or whatever.

i'd mayby check with the insurer if you are able to arrange a credit agreement at 17.

It also depends on the type of account you hold and whether or not you are allowed to set up direct debits. I know that i wasnt able to when i was 17 with the account i had. I was only given this when i turned 18 and got a current account, cheque book etc

Edited 16 December, 200718 yr by Ross

£1300? Is that fully comp or tpft ? Sounds to me like you are being screwed for every penny! I never paid that much when i 1st started driving and i had a mk2 1043cc.

I'd try a few different quotes and then try to get a price match or whatever.

i have tried most companys, using tescocompare.com, moneysupermarket, gocompare and gone direct to some like quinn, a-flux and others.

that is TPFT and is the cheapest I've been able to find.

E car?

ecar are 4 quid dearer than directline.

i have phoned directline and they said that it is not legal to pay a monthly contract at the age of 17. :mad:

do you think that i should go on my mums insurance (would be about £350) with direct line and it lets named drivers earn their on NCB?

Edited 16 December, 200718 yr by clb

yeah, do that by all means. Directline are pretty good, but I'm not sure on there noclaims. £350 is really cheap, and outweighs the advantage of noclaims in the early years, but i think you can only use the noclaims you earn with directline themselves thereafter. Not sure, you'd have to check though.

hmm when i got my bike at 16 with norich union i was able to pay my insurance monthly..

did it for 2 years :)

I'm 17 and with Direct Line, they wouldnt let me pay monthly as I'm under 18, i had to have the policy in my moms name.

I pay my insurance in one go, but the way we do it is that my mum puts the payment on her credit card - that way she gets vast amounts of Goldfish points, and I get a loan from her until I have the money to pay her back :)

You have to be at least 18 to pay monthly, because this involves having to sign a consumer credit agreement, something you can't do while you're still legally considered a minor. It has nothing to do with whether the insurance companies think 17 year olds have a grand lying around in the bank or not.

Yeah I don't see why an 18 year old could have a grand in the bank but a 17 year old couldn't.