Am I being ripped off?

Allen · 19-10-2007, 10:06 AM

Hey Guys,

I received my car insurance renewal this morning to find that once again as I get older, my premium and excess are getting more expensive.

At the moment, I am faced with the option of paying $590 a year for 3rd party with fire and theft coverage, with a $1400 excess, or look elsewhere for insurance.

When I first got my licence 2.5 years ago, i was paying around $450 a year with a $850 excess, so this huge price rise is unacceptable to me.

Can anyone recommend an insurance company that wont bleed me dry? Or should I just let them continue to rape my wallet?

I am with Just Car insurance at the moment, and the car has only mild mods, as seen in my sig...

Thanks,
Allen

aye you · 19-10-2007, 10:11 AM

hang on, i thought as you got older the premium's got cheaper? i'm confused, but personally i'd look around to see whats out there

LTDHO · 19-10-2007, 10:11 AM

Call them and ask. That simple.

They have pay less premium for higher excess too.

Or call other insurers and get quotes.

**Sorted** · 19-10-2007, 10:19 AM

Have you called your current insurer and asked them why the excess & premium has increased and to see if its possible to reduce the renewal?

Also during the last 12 months you have lowered your car, did you advise them off that in the last renewal period as previously your car may have been rated as std now on renewal it is rated as modified.

Have you had a change of vehicle in the last 2.5 years?
Have you changed your address?
Have you changed the parking address or how the vehicle is parked at night? eg Garage, Carport, Driveway, Street etc
Have you had a claim in the last 2.5 years?
Have you advised the insurer of any traffic offences in the last 2.5 yrears?
etc etc

Or are we talking about the EXACT same details as was advised to the insurer on inception of your policy 2.5 years ago and the only change to the policy is that you have more driving experience and gotten older?

So many variables in insurance need all the facts before I can make a proper assessment

Allen · 19-10-2007, 10:29 AM

I haven't spoken to them just yet.

As for my details, they aren't aware that the car has been lowered yet.

Have you had a change of vehicle in the last 2.5 years? Yep, this is the 3rd car.
Have you changed your address? Nope
Have you changed the parking address or how the vehicle is parked at night? Nope
Have you had a claim in the last 2.5 years? Just one, which was settled, and didn't affect my last premium price.
Have you advised the insurer of any traffic offences in the last 2.5 yrears? Nope.

My first car was insured just for 3rd party, and was destroyed in a fire, and the accident I had was when I pulled into a car park and scratched the car next to me.

These two incidents happened shortly after I got my licence, and didn't affect the prices of any other insurance policy I took out after that time, untill now.

**Polyal** · 19-10-2007, 10:33 AM

hmm...I found that while yes, Just Cars will insure just about anyone; it comes with a cost.

Have you tried Shannons or RACV? I found them both to be the cheapest, but thats full comp.

Also, while yes you are obviously older, you have modded it alot more over the past few months haven't you?

EB 2 XR8 · 19-10-2007, 10:44 AM

my excess is $1900 although i did lose my lisence, and have made a claim

raised by monkeys · 19-10-2007, 10:52 AM

Quote:

Originally Posted by EB 2 XR8

my excess is $1900 although i did lose my lisence, and have made a claim

my excess is $2000. i also lost my license (DUI) and a few speeding fines and i have a sh!t load of mods inc. custom interior, dvd surround, 19's etc

Can anyone recommend an insurance company that wont bleed me dry?

I would advise H2p insurance which is a sub part of RAA
i was only paying $90 a month for full comprehensive before i lost my license

vztrt · 19-10-2007, 10:59 AM

Quote:

Originally Posted by fairlane_ghia

Hey Guys,

I received my car insurance renewal this morning to find that once again as I get older, my premium and excess are getting more expensive.

At the moment, I am faced with the option of paying $590 a year for 3rd party with fire and theft coverage, with a $1400 excess, or look elsewhere for insurance.

When I first got my licence 2.5 years ago, i was paying around $450 a year with a $850 excess, so this huge price rise is unacceptable to me.

Can anyone recommend an insurance company that wont bleed me dry? Or should I just let them continue to rape my wallet?

I am with Just Car insurance at the moment, and the car has only mild mods, as seen in my sig...

Thanks,
Allen

Shop around, you can do the online quotes then give them a ring and see the price. This was happening to my folks commodore, so we changed insurers and saved $500-600.
Pretty simple.

**Sorted** · 19-10-2007, 11:11 AM

Yeah you can shop around online for a standard car but if you tell them your mods:-

SL Front, SSL Rear, Koni Adjustables, Whiteline 30mm Bar, Kmac castor-camber kit, FBT Replica Grille, 17" Advanti Fluids & 2.5" Exhaust

Then the online quote won't be valid and you will have to call them to obtain a quote.

And in regards to the fact that you have changed cars over the last 2.5 years is the car you have now have a higher sum insured that the car you had insured 2.5 years ago.

Obviously the higher the market value, sum insured or value of the car then the higher the premium

Also different cars have different theft risks thus higher premiums

XR06T · 19-10-2007, 11:49 AM

same thing happened to me with just cars. rang sgio and they gave me a better quote.

i would do the ring around (will only take a coupla hours) or ring a broker, they are free!

NAPARM · 19-10-2007, 11:58 AM

I had a lucky find with my insurance - Superchared EL Fairmont Ghia, exhaust, extractors, lowered, rims etc. I'm 25 years old, current loss of licence for DUI (mid range) and i'm only paying $620 a year full comp with only a $300 excess!
Bad news (for you guys) it's with TIO, who only insure people who live in the NT.

**Polyal** · 19-10-2007, 12:00 PM

Quote:

Originally Posted by NAPARM

I had a lucky find with my insurance - Superchared EL Fairmont Ghia, exhaust, extractors, lowered, rims etc. I'm 25 years old, current loss of licence for DUI (mid range) and i'm only paying $620 a year full comp with only a $300 excess!
Bad news (for you guys) it's with TIO, who only insure people who live in the NT.

DUI would be a common thing up there..LOL

NAPARM · 19-10-2007, 12:04 PM

Quote:

Originally Posted by Polyal

DUI would be a common thing up there..LOL

Haha it is, but i got done down in NSW.

**Sorted** · 19-10-2007, 12:33 PM

Quote:

Originally Posted by NAPARM

I had a lucky find with my insurance - Superchared EL Fairmont Ghia, exhaust, extractors, lowered, rims etc. I'm 25 years old, current loss of licence for DUI (mid range) and i'm only paying $620 a year full comp with only a $300 excess!
Bad news (for you guys) it's with TIO, who only insure people who live in the NT.

So there not really insuring you as a driver as you can't drive the vehicle anyway as you have no licence as you said CURRENT loss?

Still $620 is an awesome price, you would be near to that for Comprehensive cover with a stock EL Fairmont GHIA in Melbs

NAPARM · 19-10-2007, 12:39 PM

Quote:

Originally Posted by DRHEMI

So there not really insuring you as a driver as you can't drive the vehicle anyway as you have no licence as you said CURRENT loss?

Still $620 is an awesome price, you would be near to that for Comprehensive cover with a stock EL Fairmont GHIA in Melbs

I get my licence back in a few weeks but my insurance is current. It will still cover me if the car gets stolen or damaged at home etc.

Allen · 19-10-2007, 12:44 PM

Thanks for the replies guys.

Im still yet to question Just Car Insurance on the price rise, but I have had a few online quotes.

Shannons wont insure me because I am only 20, AAMI wont insure me because the car has a cat back exhaust system("Try our modified car branch; Just Car Insurance" they said...), RACV is cheaper for third party fire and theft, but there was no option to inform them of the mods on their online quote...

I also got a quote for full comp from RACV, at $235.25 per month, with a $900 excess, its still a little excessive for me to upgrade to full comp at the moment.

Who else could I try?

**Sorted** · 19-10-2007, 12:45 PM

Try Budget Direct, Young and Cool, GIO, I think CGU have a modified car policy now, unsure what its called though

Quote:

Originally Posted by NAPARM

I get my licence back in a few weeks but my insurance is current. It will still cover me if the car gets stolen or damaged at home etc.

Well the premium still be $620 with $300 excess when you start driving the car after you get your licence back?

As all i can see their risk at the moment is a car which is parked at your house?

NAPARM · 19-10-2007, 12:49 PM

Quote:

Originally Posted by DRHEMI

Well the premium still be $620 with $300 excess when you start driving the car after you get your licence back?

As all i can see their risk at the moment is a car which is parked at your house?

Yeah mate, the premium has been paid and nothing will change once i get my licence back.

Just Cars quoted me a bit over $1,000 for full comp, but would have only been a bit over $700 if it wasn't for my DUI. They had a massive excess but!

vztrt · 19-10-2007, 01:19 PM

Quote:

Originally Posted by fairlane_ghia

Shannons wont insure me because I am only 20, AAMI wont insure me because the car has a cat back exhaust system("Try our modified car branch; Just Car Insurance" they said...)

I thought AAMI allowed three modifications to the car?? My friend (24) was told this by them before she went through with her mods.

**Polyal** · 19-10-2007, 02:37 PM

Quote:

Originally Posted by fairlane_ghia

Shannons wont insure me because I am only 20, AAMI wont insure me because the car has a cat back exhaust system("Try our modified car branch; Just Car Insurance" they said...), RACV is cheaper for third party fire and theft, but there was no option to inform them of the mods on their online quote...

IM not over 25 and they insured me, and my GF on my car! Did you call or do it online? I called, explained my situation, told them about AFF (they sponsor the site) and everything was fine.

Allen · 19-10-2007, 03:53 PM

Quote:

Originally Posted by Polyal

IM not over 25 and they insured me, and my GF on my car! Did you call or do it online? I called, explained my situation, told them about AFF (they sponsor the site) and everything was fine.

Yeah, I just did the online quote and was denied.
I'll give them a call when I have a chance and see if they will make an exception.

**Polyal** · 19-10-2007, 03:58 PM

Calling is way better, harder for them to say no.

Actually dont mention that they sponsor AFF, because I just had a second look and they dont anymore. Just say that you are a member and contribute and go on cruises; seems to help for some reason.

**DJM83** · 19-10-2007, 09:30 PM

That happened to me this year it went up $300, some fire levy crap

jaydee · 19-10-2007, 09:49 PM

Well mate I'm sorry to say but until you turn 25 you're going to get your wallet raped.

I looked at your profile and see you were born in 1987, so at 20years of age they still consider you a risk and each year premiums just naturally go up, it's just a matter of by how much. And if you get any convictions or speeding tickets they may increase your premiums again.

**Sorted** · 20-10-2007, 09:55 AM

Have you picked up the phone and called yet?

Van D · 20-10-2007, 11:12 AM

Ring around, don't do online quotes. You can often move them on price as well and explain situations. At first Shannons said I was too young, but others wouldn't insure me because my car was too old :togo: Called shannons to explain and all is good.

pauljh74 · 20-10-2007, 11:13 AM

Quote:

Originally Posted by jaydee

Well mate I'm sorry to say but until you turn 25 you're going to get your wallet raped.

The raping of the wallet doesn't ease up that much when you hit 25. Mine only dropped a little over 15% when I hit the double of Rating 1 and 25 years old.
At 33 now my premium has increased by 7% over last year, the agreed value down 6% and no claims. That was with Shannons. I was previously with AAMI, they upped my premium and I moved to Shannons. I shopped around a little, RACV was $300 more at more than $1300. AAMI is now similar. If my car was stock (only a cat back exhaust, but still modded) I could get it covered by Allianz for $800, who appear to be the best price with good cover for me. When the mufflers go, I might go back to stock to save money and say goodbye to the note of the Redback exhaust.

Elmo · 20-10-2007, 11:52 AM

CGU wont insure you with mods, I left them this year for the exact reason a exhaust voids your insurance with them, I'm with RAC and I'm full comp insured for 840 a year with all of my mods, exhaust, extractors, race underdrives, themostat, CAI, and yes even my Flash box and Tuning is covered, lowering... etc only thing they want is for me to call before I go to do a mod.... Shannons for whatever reason wanted 1300 and just cars wanted nearly 2000 for the same cover so far as I'm concerned they can kiss my shiny red bottom!

Mr_4.0 · 20-10-2007, 12:39 PM

my car is full comp.

$68 a month and $800 excess.

geez guys....... and im only 22.

thats with RACV. some ppl are getting ripped!