£72k insurance fee for £600 banger

Adrian Holliday

If you're 18, live in Slough and run a £600 banger, prepare to pay out, big time. Joe Chute attempted to insure his Vauxhall Corsa 1.0 through insurance player First Central Insurance - and was told his premium would amount to a down payment of £16,745 plus 10 monthly installments of £5,540. That's 120 times the value of his car.