need help with insurance

[I FluXx I]

hi,

The other day decided that I was going to upgrade my car in the next 4-5 months to a xr6t. But I was a little worried that the insurance was going to cost a bucket load. Turns out I was right to worrie. I got a couple of quotes so far, both RAC and SGIO quoted me around $4000. : . I guess be being a P plater dosnt help.

Thing is, Im going to be working my *** off for the car and simply dont have that much money for insurance. So I thought mabey someone on here nows Some loop holes or ways of geting cheaper insurance.

The car would be registered in my name. Could I still insure it in someone elses name? If it was insured in someone elses name and I had an accident, would I just have to pay an extra excess? or would the not pay out?

Thanks in advance

[Yellow_Festiva]

Just do the right thing from the beginning i would suggest.....

No point winging about costly insurance, you want the performanc car at a young age, pay the premium!

Regarding placing it another name.... unwise move! the insurance company will investigate to the nth degree any claim you make... this "Trick" is well and truly useless.... read the fine print...... im sure it will say words to the effect of if a policy was incorrectly or untruthfully created than it will be nul and void.....

Cheers!

[LTDHO]

Keep the Futura until you are off you P's. Then you will have a lower premuim and more money to spend on a car!

Economically this is your best option. Question is, can u be patient?

[I FluXx I]

Originally Posted by Yellow_Festiva

Just do the right thing from the beginning i would suggest.....

No point winging about costly insurance, you want the performanc car at a young age, pay the premium!

Regarding placing it another name.... unwise move! the insurance company will investigate to the nth degree any claim you make... this "Trick" is well and truly useless.... read the fine print...... im sure it will say words to the effect of if a policy was incorrectly or untruthfully created than it will be nul and void.....

Cheers!

but its about $500 a month!! Bloody bastards!! I dwonder how much it will go down once im off my P's. Iv got about 9 months left till im off. I mite give Just car a call today and see what price they give me.

I mite have to ask for a payrise.

[Yaw]

If you are getting finace for the car in your name, your finance company will INSIST as part of the finacne arrangment it is insured in your name so they know thier investment is protected.
Keep the car you have is the best advice until your at least 25. The only loophole I can see for you getting cheaper insurance is to move to Tasmania. Sydney is the highest insurance premiums in Australia before you even look at anything else.

[I FluXx I]

It will be a personal loan for the car. Im in WA, im not sure how well our premiums compare to sydney. Im going to give a few more places a call today. Wish me luck

[MITCHAY]

Well Just Cars is probably your best bet but I can't see them being too cheap either but will insure all mods so long as they are legal and you tell them.

And there premium is based on the youngest driver.

$3355 for my car. It sucks but hey you play, you pay!

[351capri]

try shannons mate. they seem to be a bit more reasonable with their premiums.

[I FluXx I]

Originally Posted by MITCHAY

Well Just Cars is probably your best bet but I can't see them being too cheap either but will insure all mods so long as they are legal and you tell them.

And there premium is based on the youngest driver.

$3355 for my car. It sucks but hey you play, you pay!

I only want to play a little :

Im assuming you have a wrx?

[merlin]

How times have changed - when the BA first came out I remember getting a quote on an XR6T - it was $800 a year in Sydney for a then 22 year old driver. They must be getting a bad name in the insurance biz.

Just Car would be cheapest but check the excess you will have to pay in the event of a claim - its massive...

[MITCHAY]

Originally Posted by I FluXx I

I only want to play a little :

Im assuming you have a wrx?

Yep and it isn't even modified. I'm 20 but was 19 when I got it so hopefully since I'm off my Ps it will do down considerably.

XR6T and WRX pretty much the same when it comes to insurance.

[merlin]

Originally Posted by MITCHAY

Yep and it isn't even modified. I'm 20 but was 19 when I got it so hopefully since I'm off my Ps it will do down considerably.

XR6T and WRX pretty much the same when it comes to insurance.

Being on P's makes no difference, it would be based on your no claim bonus (assuming yours is 30% given you are 20) and will rise to 60% over the next 3 years. Mine also went down considerably when I turned 25 which seems to be the magic number.

Also I would have thought a WRX is far more to insure than an XR6T?

Insurance Companies actually have an emergency button which activates a red flashing siren and claxon in their offices when someone rings up to enquire about a WRX...

I enquired in December 06 and it was $2900 for me who has a 60% no claim bonus and is over 25 with a perfect accident/theft/offence record. What a joke - my bike costs $1000 a year and is far more "risky" (in terms of crashing) and easier to steal than a WRX. Car insurance companies must make a motza...

[MITCHAY]

Originally Posted by merlin

Being on P's makes no difference, it would be based on your no claim bonus (assuming yours is 30% given you are 20) and will rise to 60% over the next 3 years. Mine also went down considerably when I turned 25 which seems to be the magic number.

Also I would have thought a WRX is far more to insure than an XR6T?

Insurance Companies actually have an emergency button which activates a red flashing siren and claxon in their offices when someone rings up to enquire about a WRX...

I enquired in December 06 and it was $2900 for me who has a 60% no claim bonus and is over 25 with a perfect accident/theft/offence record. What a joke - my bike costs $1000 a year and is far more "risky" (in terms of crashing) and easier to steal than a WRX. Car insurance companies must make a motza...

I wonder what the theft statistics are for the XR6T in general and more importantly in his area in particular?

As for my comment about the XR6T and WRX being the same, I meant both are cheap and popular with the hoons but I can't see them being too far apart in premium seeing as though they have similar performance.

Advantage though because it is local and parts are cheaper.

[vandrsxr6]

I Fluxx I, try a company called Rhino insurance. I'm about to change my insurance to these guys.
I'm 22 and drive a XR6T with countless mods. They qouted me $1,300 for full comp with unlimited mods and agread value inc mods. I'll find a link for ya.

Link here: http://www.rhinoinsurance.com/index.cfm

[MITCHAY]

Originally Posted by vandrsxr6

I Fluxx I, try a company called Ryhno insurance. I'm about to change my insurance to these guys.
I'm 22 and drive a XR6T with countless mods. They qouted me $1,300 for full comp with unlimited mods and agread value inc mods. I'll find a link for ya.

Yeah I'm going to get a quote with these guys when it comes to renewal. I think they require your car to be garaged and mine isn't.

Also when you input your car details in automatically brings up a value for your car. Mines currently insured for $27k and it came up with $33.2k.

I think you can choose your value to and I would put mine at $30k because I only got mine cheap because it needed a few things and the guy wanted to get rid of it quick so it's well and trully worth that now.

[Yaw]

Originally Posted by merlin

Being on P's makes no difference, it would be based on your no claim bonus (assuming yours is 30% given you are 20) and will rise to 60% over the next 3 years. Mine also went down considerably when I turned 25 which seems to be the magic number.

Also I would have thought a WRX is far more to insure than an XR6T?

Insurance Companies actually have an emergency button which activates a red flashing siren and claxon in their offices when someone rings up to enquire about a WRX...

I enquired in December 06 and it was $2900 for me who has a 60% no claim bonus and is over 25 with a perfect accident/theft/offence record. What a joke - my bike costs $1000 a year and is far more "risky" (in terms of crashing) and easier to steal than a WRX. Car insurance companies must make a motza...

Actually they would be hard pressed to make any sort of profit from a wrx, if you have ever seen a repair bill for even a minor accident on one you would realise how much more they cost to repair than most cars. However a minor accident in one of these are rare, most of the time they are quite extensivly damaged.
You see because a WRX does in fact hold the road extremly well and does have the ability to drive the way other cars can't, when they do let go for instance going around a sharp bend, your average car might do it safley at 30-40 klms per hour, A WRX can do it safley at maybe 50-70 klms per hour, they usually cause more damage than your average accident, not to mention the extra computer sensors and components that need to either be repalced or fixed.

[MITCHAY]

Yaw do you know how the XR6T is generally treated by insurance companies?

Accident occurance, theft rates etc?

Also would like to know does the premiums go down quite a deal once your on a full licence? Generally speaking.

[Yaw]

Originally Posted by MITCHAY

Yaw do you know how the XR6T is generally treated by insurance companies?

Accident occurance, theft rates etc?

Also would like to know does the premiums go down quite a deal once your on a full licence? Generally speaking.

XR6T will usually be treated as a high powered car. Most general insurers will have a no under 25's or no under 30's.
P plater where I work does not come into the equation at all. Its years licenced and age. If hypothetically you were 30 + and just gotten your licence for the first time, you would start at the appropriate rating or No claim bonus, but would not have any exclusion on being able to drive a WRX, GT-P, HSV etc. It would be bloody expensive to insure still, but not something that would not be covered. (maturatity factor plays heavily into it).
BTW, even for someone living in Brisbane on a maximum no claim bonus and 30+ to insure a WRX is still about $2000.00 per year.

[Yellow_Festiva]

500 bucks a month you say?????

Another reason to keep the humble and somewhat girly Yellow Festiva...

$280 or there about a year FULL COMPREHENSIVE in Sydeny (with a discount for paying higher excess)......

I guess people just dont steal or crash them (as often)???

[Ando_Leigh]

isn't that rhinio company a US company?

[HLC]

register it, and insure it in your parents name. provided you still live at home. then say you are a temp. driver. works wonders.

[ORESUMSR]

RHINO Insurance is an American Insurance Company....Try this one, & I've also heard good things about it. www.rynoinsurance.com.au.

[MITCHAY]

Originally Posted by HLC

register it, and insure it in your parents name. provided you still live at home. then say you are a temp. driver. works wonders.

Doesn't work if they quote the premium based on the youngest driver.

[sprjenkins]

try vigil insurance, www.vigilins.com.au, They are the modified division for OAMPS one of the worlds biggest insurers. Unlimited mods if they are legal, agreed value was $14 extra a year, so much better than bloody RACV

[MITCHAY]

Originally Posted by sprjenkins

try vigil insurance, www.vigilins.com.au, They are the modified division for OAMPS one of the worlds biggest insurers. Unlimited mods if they are legal, agreed value was $14 extra a year, so much better than bloody RACV

From their site

What We Cannot Insure

- Drivers with no current insurance history (must be rating 5 or better)
- Drivers with more than 5 speeding fines in last 5 years
- Drivers with loss or cancellation of licence
- Daily use of Porsches, HSV, WRX, Ford XR6/8 & FPV
- Turbo charged cars for drivers under 21 years

He would be screwed on the last 2 things.