Insurance: What company, and how much?

[VR-04-TT]

I'm not sure what your area is "rated" at as far as risk goes. But I'm 26 living out near Windsor, 2756 and I'm with Dawes paying about $1480 for $16,000 cover.

I have lost my license in the past 5 years.

Going by your quote, I can only guess either you're covered for a higher amount, or the area you're in is a much greater risk.

 

[qball]

I'm 29 paying 1500 insured for $18500 through just cars in northern suburbs of sydney with clean driving record and not garaged so it sounds about right. My mate (same age) pays $1000 for his toyota paseo thats insured for $6000 so i think i'm not to bad

 

[Kissmyfur]

Thanks guys, yeah maybe that just what it costs for my area. Just seems crazy to be paying that when its locked up at night, has no mods and ive got a clean history. Maybe it just comes down to the postcode??
Cheers

 

[godzilla]

I insured our 98 Legnum with Lumley Special Vehicles today and was shocked at how cheap it was, i cost me $648.13 pa with an excess of $1000, insured for $15,500 car has to be garaged o/nite and must have AS Engine Immobiliser and you are part of an "enthusiast motor club" My wife and i are over 25 and have had no claims or disqualifications in the last 5 years. So all in all pretty happy.

I still cant believe the amount a lot of you are paying, give these guys a call
Link

 

[cyber_scriber]

Thanks guys, yeah maybe that just what it costs for my area. Just seems crazy to be paying that when its locked up at night, has no mods and ive got a clean history. Maybe it just comes down to the postcode??
Cheers

Chris.

You can greatly reduce your premium by increasing your excess. For example, I was quoted $1,500 premium with the standard excess. With the highest possible excess, the premium dropped to $900.

I know that Just Car offers variable excesses. The higher the excess, the lower the premium.

Going with the maximum excess will benefit you if you don't have to make a claim over a certain period. Even where you do have to make a claim, you might still be ahead if the premium saving over time is greater than the increased excess at the point you make the claim e.g. $1,500 premium with $500 excess vs $900 premium with $1,500 excess.

Assume you went with the latter. If you make no claim in year 1, you are $600 ahead ($1,500 premium vs $900 premium).

In year 2, you are $1,200 ahead but you then make a claim and pay the $1,500 excess. You are still ahead $200 overall because that $1,200 premium saving covers the additional $1,000 excess over the standard $500 excess.

 

[2000VR-4]

If you got no insurance imagine how far ahead you would be!
As the following thread say's, upto $2400 in 2 years, it's a lot.

 

[cyber_scriber]

If you got no insurance imagine how far ahead you would be!

Lol Jason! You'd be ahead until the moment you run into the back of a BMW. At this point, you will (literally) be behind and (figuratively) about to get it from behind ... lol!

Not having insurance makes more sense when you start getting stupid quotes to insure your ride e.g. $16k premium quote on my S15 and Brad copping a $31k quote to insure a $30k WRX. Fully sik ... not.

 

[Kissmyfur]

Cheers cyber- maybe increasing my premium is a solution. Its always the chance you take and i suppose it comes down to luck and how safe a driver you are. I think i'm a reasonable driver but I have get shouted at by one my friends every time she is in the car.

Godzilla - when did you insure with lumley, i tried them and they said they no longer insure legnums, this may be bull so I may try again?

 

[cyber_scriber]

Hi Chris.

Just to clarify. You will need to increase your excess in order to reduce your premium. Your excess is the amount you pay when you make a claim. The premium is the annual amount you pay to insure your car.

The insurers calculate your premium based on a number of risk factors, including age, driving history, suburb, whether the car is garaged, how often you drive, whether you have nominated any young drivers, the risk profile of your car (camrys are cheaper to insure than rexies), whether the stars have aligned etc. Any change in any of the previous criteria will affect your premium.

Good luck!

 

[Kissmyfur]

Yeah, oops, I wrote premium instead of excess. Thanks for letting me know before I go and ask for it over the phone, haha.

 

[godzilla]

Godzilla - when did you insure with lumley, i tried them and they said they no longer insure legnums, this may be bull so I may try again?

I've been insured with them since we owned the car (June 08)

 

[MUNGEL]

Has any of you guys had anyone come out to access your car when insuring with Just Car?

 

[qball]

nope

 

[Bad-Karma]

I had an assessor from Just Cars come out to look at my brothers car. What do you want to know ?

 

[Poita]

Well I finally decided to go ahead and purchase! So have started the hunt. Will be importing rather than buying here due to the good prices you can get right now.

So I got a couple quotes today and the results were:

Me: 26 - 2 speeding fines and 1 accident. Rating 1 for life with RAA currently
Wife: 21 - Perfect history
Agreed value of $16,000
Mods: Alarm and 18" rims

Shannons:
Premium $1534.20
Excess $500
Age Excess $400


Just Cars:
Premium $936
Excess $400
Age Excess $250

Both were really friendly to deal with.

Dawes didn't want to know me as my wife will be driving it (rarely) and she is under 25. My work mate got a quote done on a modified R34 and he was very impressed with their costs!

 

[Nitephyre]

I went with Shannons.

$760ish for 29 & 31 both Rating 1, agreed $19,000.

 

[SiliconAngel]

Heh, you'll like this - my brother just got his '06 Z06 insured with Shannons. How much do you think it would cost for a 500HP $90,000 Corvette owned by a 29yo that does have some minor driving infringements? How about $600 a year...

 

[gorgath]

My insurance is due so

Just Cars (current)
Premium: $1,047
Excess: $700
Agreed: $15,000

Shannons
Premium: $1,566
Excess: $500
Agreed: $15,000

Dawes
Premium: $1,358
Excess: $700
Agreed: $12,000

Hmmmmm

 

[kiwibstokes]

Mine came up for renewal the other week, was originally with my mate who is a insurance broker through Ryno Insurance was $800ish a year but this year jumped to $3000! Yes thats right apparently they don't want to insure anything but classics now so are just uping the premiums on normal cars to get rid of people.

My mate couldn't do any better than Just Cars so ended up going back to them now it is $1041 a year for 25yo rating 1 no accidents agreed value still $22,000 has a short list of mods which put up the price...

 

[rooks]

HBF would u believe!??!!?

Me: 28 year old (at the time of the quote)
Rating: 1
Car: 1996 Manual Galant EC5A. Stock.

Just Car
Premium: $894
Excess: $650
Agreed value: $15,000
Perk:

HBF
Premium: $743.40
Excess: $500
Agreed value: $15.000
Perk: Unlimited windscreen and glass cover.

**added $200 to the basic excess to reduce the premium. So the premium listed above are cheapest for HBF and Just Car (in my case).

Shannons: No "you only have a carport..." :thumbdown:
GIO : No "Thats the 2ltr V6?.... what twin turbo!?"
SGIO : No "Import?...Can i put you on hold....sorry no"

Confirmed a few times with HBF to make sure they know its the 8th Gen VR4...just in case.
Could be the age factor with HBF, one downside is that they wont insure drivers below 27yo with my policy. Worth a shot anyhow....
Spoke with Geraldine from HBF on 62111823 (WA).