Insurance at 16!

chris50cc · Nitrous Nuisance Joined: 23 Jul 2004 Karma :

Ok, I bought my DNA 50cc on Sunday, completed my CBT yesterday (yay! Very Happy

), bought myself jacket and gloves today (getting a helmet on Thursday), so i'm almost set to be on the roads. Problem. Insurance. Since i'm 16 the quotes i'm getting are ridiculously high anyway but since i'm not 18 and can't get credit i can't pay monthly - meaning i need another lump of money - which i don't have! I can't even put it through my parents account to pay monthly because its my bike. I'm stuck, big time. Any one help me!??!
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carvell · Scuttler Joined: 05 Sep 2003 Karma :

You could get your parents to take out a loan, then you pay them back the same amount as they have to pay for the repayments?

You'd end up paying back more than the insurance cost though, obviously.
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chris50cc · Nitrous Nuisance Joined: 23 Jul 2004 Karma :

Not a chance, my parents hate loans and they wouldn't lend me the money if they had it anyway.
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chris50cc · Nitrous Nuisance Joined: 23 Jul 2004 Karma :

Not a chance, my parents hate loans and they wouldn't lend me the money if they had it anyway.
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Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

Well no one will lend you money until you're 18 so no point in trying that. Not got nay ideas of to how you can insure it, as you just need to have the cash for the years insurance up front so it might be time to start saving up and get the insurance when you can do and not use the bike until then.

It would have been quite a good idea to have looked into this before you bought the bikes. Razz

RSixer03 · Renault 5 Driver Joined: 18 Apr 2004 Karma :

McJamweasel · BCF Junkie Joined: 22 Mar 2002 Karma :

Speak to Danny, he will search for a better quote for you.
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carvell · Scuttler Joined: 05 Sep 2003 Karma :

Marc_Buck · Could Be A Chat Bot Joined: 31 May 2004 Karma :

Or maybe he was hinting, if anyone could lend me would be great! no joking.
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chris50cc · Nitrous Nuisance Joined: 23 Jul 2004 Karma :

I was looking for quotes way before I got the bike, and i knew that i couldn't pay it from my account as i'm 16, but nowhere did it mention it can't come out of another account, now i've foudn out it can't. My quotes range from £529 - £2520 for TPTF so saving up is going to be hard since i'm only 16. I wanted help with knowing if there is any other way to go about this or does anybody know insurance companies that will accept monthly payments from another account other than the owners.
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Danny · Ask Me About Stoppie School Joined: 26 Jan 2003 Karma :

I don't think insurance companies care who is paying for the insurance as long as it is paid.

Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

As long as the card holder is there to give their permission then why would they care as money is money they really won't care where it came from as long as the card holder gives their permission.

Disco · Two Stroke Sniffer Joined: 23 Jun 2004 Karma :

When you say you didn't know it couldn't come from another account what do you mean?

As far as I'm aware it doesn't matter who pays the money as long as the insurance is in the name of the right person! You then tell them the account number and the person who has the account they might ask for them to say it is ok and to sign an agreement or for them to ring and confirm the insurance!

Hope this helps!
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dibbster · Nearly there... Joined: 15 Apr 2004 Karma :

My dad paid mine the first year I had the CG and then I paid him back as I didn't have a current account or credit card. I don't think insurance companies will be bothered who pays as long as it is paid!
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chris50cc · Nitrous Nuisance Joined: 23 Jul 2004 Karma :

See, you are all thinking the same as I did. It wouldn't matter who paid as long as it got paid. However, most insurance companies will only accept monthly payments from the person who wants the insurance. Also the insurance can't be put in another name if they don't own the vehicle. Get me?
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Marc_Buck · Could Be A Chat Bot Joined: 31 May 2004 Karma :

Being 16 is not a disadvantage as money goes, you have left school, get a job earning anywhere between £150-£250 labouring for joe bloggs, and as you have no monthly bills/family to support money is easy, 1/2 weeks and you have insurance.

Stop being lazy and work.

Oh yes by the way i am 16 as well, and have just bought myself a yamaha yzf 600 thundercat, booked my test and lessons and have the money to insure up front.

A little bit of future planning, work and little spending goes a long way don't you think?

Or maybe even sell the DNA and keep the money for your test and big bike.

Or it might be the fact that i am so desperate to own a bike and ride it that i have got the will power to save for it.
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Disco · Two Stroke Sniffer Joined: 23 Jun 2004 Karma :

Jammy-G · Banned Joined: 17 Mar 2004 Karma :

You can pay monthly with your parents card. It doesn't matter if they aren't the ones getting insured on it, just when you have to pay get your parents to do the talking and let them do it that way.
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swifty_mcvay · Borekit Bruiser Joined: 25 Apr 2004 Karma :

this saves money! lol

first point no point getting tpft on a 50cc because even if something did happen there would be no point in claiming because your future premium would just get bigger and then youd lose the YNCB so just get TP ...its up to you but i think thats best...

also marc are you just messing around about being 16 :S im confused lol you say your 16 but have a nsr125 ( or maybe im wrong) and now have a 600 lol ?
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JonB · Afraid of Mileage Joined: 03 Jun 2004 Karma :

I got insurance £162 TPO with Motorcycle Direct, My parents paid on their card and I paid them back by Cheque. Smile

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