Car insurance - what's the deal?

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richms

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#399985 4-Nov-2010 09:01

People that seem to get the massive quotes have an accident and loss of license history.

Richard rich.ms

geek4me

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#400071 4-Nov-2010 11:11

graemeh: Full cover is different. The companies operate under a "knock for knock system" so each company covers it's own costs where both parties have full cover so it doesn't really make much difference who is at fault.

Interesting comment. I had a car versus motorbike "incident". My insurance called it an "incident" rather than an "accident" because my car was not damaged when the motorcyclist came off his bike while overtaking when I was turning right and had used my indicators.

The other party's insurance still tried to make me pay as I denied liability but they did not proceed.

While not my fault, under the knock for knock system (we were both fully insured) I wonder if I would have paid an increased premium if it had been my fault when my company had no cost.

Edit: I added my wife's name to my car insurance as a named driver. The premium went up around
$15. The reason - her car had recently been hit from behind at a pedestrian crossing. Not her fault but
under the insurance company's premium calculation algorithm she was now an increased risk - go figure!

graemeh

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#400089 4-Nov-2010 11:30

geek4me:
graemeh: Full cover is different. The companies operate under a "knock for knock system" so each company covers it's own costs where both parties have full cover so it doesn't really make much difference who is at fault.

Interesting comment. I had a car versus motorbike "incident". My insurance called it an "incident" rather than an "accident" because my car was not damaged when the motorcyclist came off his bike while overtaking when I was turning right and had used my indicators.

The other party's insurance still tried to make me pay as I denied liability but they did not proceed.

While not my fault, under the knock for knock system (we were both fully insured) I wonder if I would have paid an increased premium if it had been my fault when my company had no cost.

Edit: I added my wife's name to my car insurance as a named driver. The premium went up around
$15. The reason - her car had recently been hit from behind at a pedestrian crossing. Not her fault but
under the insurance company's premium calculation algorithm she was now an increased risk - go figure!

Yes you would have had an increased premium, unless it's covered under one of those "guaranteed no claims discount" deals that some companies are doing now.

You could always argue with them about the $15. The premiums are not set in stone, despite what some will try to tell you.

jaymz

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#400090 4-Nov-2010 11:33

Best option for cheap insurance is to go to an insurance brooker. They do all the leg work in compairing insurance companies and get the best price for your needs.

I'm lucky, my wife works for an insurance company so we get staff discounts :P how is $300 a year for full cover to $9000 sound??
Oh and it is a '96 VS V8 Commodore :)

richms

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#400093 4-Nov-2010 11:38

I had insurance with a broker for the house, contents and car. Based on their handling of a car claim (ie, they did SFA but expect me to fax them forms and them fax them to the insurance company) and that they were so useless customer service wise, the car isnt with them anymore and the house and contents will not be when it comes time to renew.

They are a very old way of doing thing place, no CRM, no proper email, send an email, they will give you a phone call, but only between 8 and when they go home etc.

So if you go with a broker, go with one not exclusivly staffed with really old people that take ages to do anything.

Richard rich.ms

LittleGreyCat

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#400340 4-Nov-2010 20:18

Our insurance is with Lumley.
Just over $306 for comprehensive for a year with $300 excess.
We should be able to cancel and refund any unused term.

AMI don't do foreigners.
AA quoted $600 for 3rd party for 6 months.
State passed me to National Auto Club who quoted $166.75 for 6 months 3rd party with $500 excess and no cancellation.

Not surprisingly, Lumley got our business.

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lxsw20

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#400351 4-Nov-2010 20:38

Paulthagerous:
lxsw20:
nickd:
boby55: With a 99 Camry you should be OK in terms of price as I don't it would be classed as a boy racer car or high risk.

I'm an under 25 male driver. No matter what I drive, everything is priced at boy racer premiums. My little 1.8L corolla? Premium is $1300 for comprehensive agreed value with AA. Regardless of your car, age and gender is rather important it seems. My parents own an identical car. Same type of insurance, $500ish.

I don't have agreed value, but I have an Integra Type R, one of the most stolen cars in the country and pay half what you pay @ age 23. Excess around the 1k mark. This is with Bay Insurance Broker.

Did you actually shop around?

Mines a Torneo Type R, second on the list of most stolen this year I think? And probably a little bit faster. And I'm 21. And my premium is half yours. +1 to shopping around.

That would be a Euro R im guessing, and faster...maybe, little fat for that I thought :P

Paulthagerous

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#400476 5-Nov-2010 08:56

lxsw20:
Paulthagerous:
lxsw20:
nickd:
boby55: With a 99 Camry you should be OK in terms of price as I don't it would be classed as a boy racer car or high risk.

I'm an under 25 male driver. No matter what I drive, everything is priced at boy racer premiums. My little 1.8L corolla? Premium is $1300 for comprehensive agreed value with AA. Regardless of your car, age and gender is rather important it seems. My parents own an identical car. Same type of insurance, $500ish.

I don't have agreed value, but I have an Integra Type R, one of the most stolen cars in the country and pay half what you pay @ age 23. Excess around the 1k mark. This is with Bay Insurance Broker.

Did you actually shop around?

Mines a Torneo Type R, second on the list of most stolen this year I think? And probably a little bit faster. And I'm 21. And my premium is half yours. +1 to shopping around.

That would be a Euro R im guessing, and faster...maybe, little fat for that I thought :P

Yes a Euro. I meant in relation to a corolla, not an ITR. I really can't be bothered with another ITR v TTR arguement.....

nickd

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#400690 5-Nov-2010 12:14

@lxsw20 & Paulthagerous: What's your excess on those, mine is $600. $400 standard, and another $200 for being under 25. Maybe it sounds like I didn't shop around enough...

merve0o0

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#400707 5-Nov-2010 12:39

If you have home and or contents insurance go with whoever you have that with.

I have mine through tower as mum has hers through them and they linked the accounts. Still under my name I just get the discount for having multiple policys.

My car is a 99 Silvia so would be classed as a boyracer car. But I have a clean record and over 25 so it's around $550 a year for full insurance

Paulthagerous

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#400739 5-Nov-2010 13:14

nickd: @lxsw20 & Paulthagerous: What's your excess on those, mine is $600. $400 standard, and another $200 for being under 25. Maybe it sounds like I didn't shop around enough...

Um, a bit more than I thought

: 500 if stolen, $500+450 if I crash (basic + age excess). Still not bad

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richms

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#400765 5-Nov-2010 13:50

You lot seem to have had bargains compared to when I had my crappy skyline GTS insured, $1100 excess, and only covered for $3500 which they devalued to 2000 when I went to make a claim.

Needless to say, its not insured now after finding that excess + a years premiums was more than the amount I would get from them.

Richard rich.ms

lxsw20

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#400930 5-Nov-2010 19:25

nickd: @lxsw20 & Paulthagerous: What's your excess on those, mine is $600. $400 standard, and another $200 for being under 25. Maybe it sounds like I didn't shop around enough...

7-800 odd, from memory it was 3.5k with clic.

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