Car Insurance.

[leefer]

A Question,when you buy a new car...or a newer car is your first insurance quote based on the cars worth?
If it is then surely four years later your car is worth half the amount and that should be reflected in the quote.
In simple terms your payments should be going down as your car gets older

[Simon Pieman]

Usually you put a value to your car when you get a quote.

[Posh Red]

Partly true, the main problem is that premiums have been going up steadily for a few years now, largely driven by personal injury claims.

Also, a large part of your premium covers any third party claims (ie the cost of the car you hit) which has little or no relevance to the value of your vehicle.

This is partly why insurance for new/young drivers is so expensive even though they are likely to be driving very inexpensive vehicles.