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10:59am on Monday, 9th March, 2015:



My younger daughter, unlike my wife and older daughter, likes driving. On Friday, she bought her first car. It's second hand but looks to be in decent condition, although of course that opinion may change once I take it in for a service. Anyway, because she wanted to drive it right away she looked at taking out insurance for it.

If she'd started her insurance yesterday, it would have cost around £800, which is about a quarter of the value of the car. However, she didn't start it yesterday. Instead, she's starting it two weeks later when it will only cost £650.

The difference? In two weeks, she'll be 21. Apparently, her ability to drive will level up as a result of this, hence the lower cost.

I'm sure that in this day and age, insurance company actuaries can be a little more fine-grained in their risk assessment than this.

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