car insurance when does it get cheap?!?

G

goonandtell

ok i haven't had a car for about a year only my 2 wheeled toys and prior to this had a lease car with corporate insurance for 4 years while getting through my early 20s 'expensive insurance' period.

So here i am nearly 26, no crashes, speeding fines, fraud, etc... in the last 5 years and a clean record aside from this aynway. Trying to insure a LPG powered falcon station wagon worth a MASSIVE 15k which is locked away 90% of its life in a secure compound. And the best price i can get is 900 through the 'cheap companys or about 1100 for main streams. WTF?!

I pay 1100 to insure my damn sports bike which does 0-100 in 4 seconds and can be stolen by two big guys in a van and is worth about the same money. I was paying about the same to insure a 50k mini cooper turbo when i was 23 and it went down the year AFTER my missus smashed it when it was 3 months old.

FYI youi are a joke and wanted 2.5k to insure it, budget said it was 550 but after entering all my details (which where in the quote) it jumped to 950.

At the moment i am considering shannons as they have a decent rep and look like a company worth building a relationship with. But they are on the upper end i was expecting somethign like this to be maybe 600 or 700!!!!

So who is a reputable company to insure a basic tranpsort car?
 
That's a difficult one because prices vary depending on the details you put on the application and your age and postcode.

Can you insure under your parent's name and be the 2nd driver? I did this for my son. He figured it was considerably cheaper with me on the papers
 
When you have a dozen or more cars then its cheap. You can pay a yearly fee for coverage that allows so many claims per year and once over the limit all vehicles are no longer covered.
 
I only pay about $600 for my Mazda 2 with RACV, which I have since brand new and it was bought 2 years ago for $18K. Maybe because I'm a girl driving a girls car and girls are better drivers? ;) Although to be honest when I got it I was surprised and was expecting more as it was only about $200-$300 more than third party insurance I had on the old car I had before it.
 
The key words are "26 years old", and "male".

Sadly this is in the highest risk age/gender bracket as far as insurance companies view things.

Actually; I think 18-25 years is the worst, so you're close.

The other option is 3rd party only - and drive really, really carefully.
 
Car insurance gets cheaper when:
1) You have a big no claim bonus
2) You're over 30
3) You drive a low risk vehicle
4) You become a female

I pay about 800 a year for the V8, with 65% NCB and aged 35.
 
VYBerlinaV8 said:
Car insurance gets cheaper when:
1) You have a big no claim bonus
2) You're over 30
3) You drive a low risk vehicle
4) You become a female

I pay about 800 a year for the V8, with 65% NCB and aged 35.
Click to expand...

Hey V8,

just thought I'd tell you; last Sunday I picked up another "cast-off" (second one) from one of my mates who churns through the cars.

Last one was his SSangyong Musso 4WD back in 1992 - still have it. I got it at the trade-in price from him.

This latest one is a 2007 Clubsport E Series R8 - got it at the trade-in price and it is unreal to drive - 6 speed manual.

The bad news is it's due for 2 rear tyres, but I know a guy....
 
Last edited:
Is that for full comp? Umm, under 25s pay a little bit less for ONLY third party, fire and theft. For a car worth less than a third of that. Pay up.
 
Shop around. I am with AAMI but will most likely be changing next year. Austpost offers car insurance. And they are much cheaper than AAMI.

I have also read that Coles and Woolworths are thinking of entering the insurance market. Not sure when. So in my opinion look out for the new players entering as they will offer some of the best deals.

Cheers,
Oracle.
 
i ended up with shannons reading around they are generally good around claim time and really thats the time you most want the insurance to be solid. To be honest i am surprised with the quote they came bellow AAMI/RACV/CGU and only about 100 more than budget/bingle. I would like to add budget to my scam list the quote was 500, after proceeding with the quote it jumped to 900 with no explanation.

full comp i used to pay about 550 3rd + fire /theft for a modified turbo car worth about 9k, but after that car i have been using lease cars with corporate insurace this is my first jounry into a privately owned car in 5 years.

3rd property + fire/theft is a touch to risky for something worth ~8+k imo given you car could be written off in a car park or similar while you are out, i think the agreed value of this car is about 17k

VYVerlina, its a gas powered falcon station wagon and i have a 65% NCB, while i am sure with time i will get older i am just not confident about becoming a women, the time i save standing up to pee i will use to offset against working a little bit harder to pay extra on my insurance.
 
goonandtell said:
.....while i am sure with time i will get older i am just not confident about becoming a women, the time i save standing up to pee i will use to offset against working a little bit harder to pay extra on my insurance.
Click to expand...

That made me smile.... :p

A few things I found with looking around for insurance over the past four years with learners in the family -

1. With one particular budget insurer, the policy was cheap, but if someone drove our car who was not a listed driver on the policy, they were NOT INSURED AT ALL!!! :eek::eek:

2. With the budget insurers, the fact that we had a learner driver was a bit of a grey area. We chose instead to go with one of the big companies who covered the learner driver as if it was me driving. Once the learner gets a licence, the premium in my name doesn't rise, but if the young driver is driving and has a need to make a claim, he pays an extra excess.

If we added his name as a listed driver the policy cost for one year exceeded the cost of the policy in my name plus the excess of one claim. We decided to take the risk. If there is no bingle over the course of the year, we saved over $700 by leaving his name off the policy.

3. I have heard that the "pay as you go" policies can be a trap if you drive more miles than you have paid for. I wouldn't touch these policies.

Because we have one more son who will be able to learn to drive in another year, we will stick to the big companies who don't seem to have hidden traps that could be financially disasterous.
 
goonandtell said:
VYVerlina, its a gas powered falcon station wagon and i have a 65% NCB, while i am sure with time i will get older i am just not confident about becoming a women, the time i save standing up to pee i will use to offset against working a little bit harder to pay extra on my insurance.
Click to expand...

I hear ya. I'd rather stand and pay more than sit.
 
Comprehensive on my old bomb VS commodore had a lowest quote of $2500. I'm 24 with a clean record. The car is barely worth $2500. I would have to total the car every year to make it worth my while :D

I've got 3rd party w/just car insurance. It was pretty cheap (around $300 from memory).
 
Ausprop said:
for a $14k car I would self insure
Click to expand...

you wouldn't even take out 3rd party cover?

How are you going to pay for that BMW you've just wiped out and the Mazda you bumped into before crashing into the lounge of a neighbouring house?

I think there is too many risks with cars to self insure.
Its not like landlord insurance where you could insure if you wanted to.....
 
just ran a test quote thru australia post, came in about 25% higher than my existing policy. being a resold product i expected as much
 
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