Modifications and Insurance

Darkr · 03-11-2008, 07:05 PM

Hey all,

Currently I'm with Sgio and pay $650 a year with my current mods (I'm 19 with flawless record.. so far).
The problem is with having an XT and wanting it lowered, they will not allow me more then 30mm.

Just car want $1250 for my mods + the suspension which I would rather not pay, I can increase the excess to decrease the premium, but I'm not all that comfortable in doing that. Though I may end up having to do this. I'm quite happy to pay up to around $900, but not sure it will be possible.

The car is in the parents name, and currently with Sgio there is something like a $1700 discount per year becasue of their no claim bonuses. Just car just ask for youngest driver details, and are still much cheaper over all.

Does anyone have any other suggestions for insurers?

I know some people who fudge their insurance a bit, and don't tell them all the details, which I'm also not willing to do.

I may end up with just car after all as I have found others to quote me over $2000.

Hybrid34 · 03-11-2008, 10:12 PM

RACV by far are the most reliable (in terms of payouts)
Justcar would most likley be ideal for your situation as they deal with young drivers and modifications....
Sgio I havn't heard of so i can't say, but from the sounds of it, you want to do what most 19yr olds do...Dump,Zorst,Rims etc etc... If thats the case I'd recomeened just car as their not to dear and still allow you the mods...
All i can say is make sure you READ the fine print before taking out insurance..
Hope this helps a bit
cheers
-Ash

**Btw i've been with RACV, Shannons and Justcar all are very good but for young drivers, mods and price wise Justcar or RACV

manxman · 03-11-2008, 11:50 PM

Do much more than just READ the policy, get (UUUrgh $$$$$) independant(?) LEGAL advice on it before you sign up. If you don't ask, you won't know/get. And they will shaft you if they can. That's how they keep your money, so don't say you weren't warned! I've usually found it cost effective to have a plain, old, common vehicle and self insure except for 3rd party fire & theft. There's little sense in wasting cash in special mods because you NEVER get fully compensated for the blood, sweat & tears of the installation, personal or commercial. Neither do you get compensated for effort needed to be put in to find a suitable replacement platform, and get it up to the necessary standard the previous one was. It's a con from the beginning, & they can get lost!

schnoods · 04-11-2008, 12:54 AM

Try Shannons Chris.

Im paying aroun $850 a year for my car thats supercharged, my WH statesman 5.7 was $930 a year and insured for 20grand.

If you have a incident free history its the best time to have your own insurance and build up a good reputation as being a safe driver, your no claim bonus and cheaper premiums will be better when your older, making it easier to insure a v8 or performance car in the future.

GORDZ · 04-11-2008, 02:48 AM

jeez mate, its only a BA... 3rd party fire and theft is all u need, as the cars aren't worth crap anymore. in 2 years i'd have paid more for 3 years of insurance than the car is worth. it's just a con.

Darkr · 04-11-2008, 06:32 PM

Thanks for the advice guys.

Haha Gords, I know they aren't worth much, but I'm better off paying 1k a year and getting 14 back if I do have a boo. I'm still a uni kid for at least another year :(

Hybrid34 · 05-11-2008, 08:46 PM

Quote:

Originally Posted by Darkr

Thanks for the advice guys.

Haha Gords, I know they aren't worth much, but I'm better off paying 1k a year and getting 14 back if I do have a boo. I'm still a uni kid for at least another year :(

yeah dw mate I feel for ya, im in the same boat as you, have a fairlane mock FBT with a fair bit of mods done to it...don't want to pay a bucket load as where "poor uni students".
Research is all i can say, talk to people who have acutally had claims with insurance companies, seee if they have had any problems with them
Cheers
- Ash

GORDZ · 05-11-2008, 09:29 PM

well i'm paying 3rd party, and don't expect anything for my ute if i do bung it, as i don't think the mods are legal anyway... maybe thats stupid of me (i know it is) but i can't fork out $3600 per year for insurance. I've never been to uni, but i'd love to try it... but i do have a big credit card bill so maybe i can relate

Just car seem to be the only company that would even touch me with the modifications i have. I couldn't be f'd shopping around again for 3rd party.... online quotes are a PITA...

Nickxb · 06-11-2008, 10:50 AM

GIO has a customer car policy

Iggypoppin' · 06-11-2008, 01:19 PM

Quote:

Originally Posted by Darkr

Thanks for the advice guys.

Haha Gords, I know they aren't worth much, but I'm better off paying 1k a year and getting 14 back if I do have a boo. I'm still a uni kid for at least another year :(

much the same as my situation. my xr6 is worth about 13,000 now, but its insured for around 25000 plus mods, and just car arent even insuring it yet! my bill through aami is 2100 a year, but its down to 1100 because i took a thousand off my premium and put it on my excess. if the car gets written off, they can take the excess out of the final payout, i get around 22000 and then go shopping for an xr8.manual. love that my car was expensive when i bought it.

Powdered Toast Man · 06-11-2008, 02:08 PM

The only problem is that if you get something like $15000 worth of damage that would normally finacially write off your car they will want to fix it instead.

I must adjust my agreed value, it's probably still well over 20 grand as well.

prydey · 06-11-2008, 04:15 PM

i once argued with an insurance company regarding lowering a vehicle. they too would only let me go 30mm. i then tested their logic. i asked if i had an xr6 how much could i lower it and again they said, 30mm. i then pointed out that a xr6 lowered 30mm would be at least 15mm lower than a stockie lowered 30mm. where's the consistency?

4Vman · 06-11-2008, 04:22 PM

Quote:

Originally Posted by prydey

i once argued with an insurance company regarding lowering a vehicle. they too would only let me go 30mm. i then tested their logic. i asked if i had an xr6 how much could i lower it and again they said, 30mm. i then pointed out that a xr6 lowered 30mm would be at least 15mm lower than a stockie lowered 30mm. where's the consistency?

They're insurance agents, not performance car specialists so its a pointless argument for starters.
The other thing to remember is the "available" suspension travel and the effect lowering a car from its designed position has on geometry... Lowering a car reduces the available suspension travel available which can have adverse effects on handling safety on rough roads..

GORDZ · 06-11-2008, 05:06 PM

i'll get $18,500 for mine if someone clobbers me, bout the only good thing to come out of buying it when it was expensive

prydey · 06-11-2008, 05:23 PM

Quote:

Originally Posted by 4Vman

They're insurance agents, not performance car specialists so its a pointless argument for starters.
The other thing to remember is the "available" suspension travel and the effect lowering a car from its designed position has on geometry... Lowering a car reduces the available suspension travel available which can have adverse effects on handling safety on rough roads..

all i'm saying is, an insurance company will let you lower an xr6 30mm but not an xt 45mm. you could have all the suspension made so that it all matched and handled perfect. it would be the same in both cars. both cars would be the same height and yet insurance would knock one back.

i realise exactly how suspension works, i was merely having a bit of fun with the agency.