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  1. #1
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    Default Cost of Insurance

    Just renewed my car insurance and because I'm adding my son to the policy the premium has doubled.

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    "What the???" I asked.

    "According to our research, under 25 (males) are the most reckless drivers on the road..." was the reply.

    Great

  2. #2
    Fellow Frogger! pugpete's Avatar
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    Quote Originally Posted by graham66
    Just renewed my car insurance and because I'm adding my son to the policy the premium has doubled.

    "What the???" I asked.

    "According to our research, under 25 (males) are the most reckless drivers on the road..." was the reply.

    Great
    sure are! and its been like that for years, i just turned 25 (10/04/05) and have been waiting for the drop so i can buy a new car... you will also find cars with cheaper replacement parts are less to insure also. It pisses my off that the same price pug 206 say 20g is more to insure than a ford or holden, just because the parts are cheaper and easier to get
    205GTi Peugeot 1988 Graphite Grey for sale $2500

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    Fellow Frogger! chris's Avatar
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    I turned 25 myself this year, thinking I would get cheaper insurance. I got sick of the NRMA and rang around for a few quotes, only to encounter the opposite problem:

    Them: "What year is the car?"
    Me: "1974"
    Them: "I'll have to stop you right there, we don't insure cars that old".

    Arrrgh!

    Go Shannons, is all I can say...

    Chris
    GS 1220 break. Beige cars go faster

  4. #4
    Tadpole vector's Avatar
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    Who are you insured with? When I was ringing around for quotes on insurance for my 206 GTi, I received the eye-watering responses you would expect for an under-25 male trying to insure a sports car. However, when I got to AAMI, I found them significantly cheaper than the rest. Not only that, but they also offer a free "skilled drivers" course to under-25s who have a policy or who are listed on a policy. Once it's completed, AAMI give you a 10% discount on your premium until the person in question turns 25.
    Black '00 206 GTi 138

    'I NEVER rely on my own memory, as I have determined that it is not only faulty, but actively working against me'

  5. #5
    1000+ Posts Gamma's Avatar
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    Quote Originally Posted by chris
    I turned 25 myself this year, thinking I would get cheaper insurance. I got sick of the NRMA and rang around for a few quotes, only to encounter the opposite problem:

    Them: "What year is the car?"
    Me: "1974"
    Them: "I'll have to stop you right there, we don't insure cars that old".

    Arrrgh!

    Go Shannons, is all I can say...

    Chris
    Thats right. Many insurers will not go anywhere near a car more than 20Yrs old.

    Shannons I have found to be very good.
    SII 1986 505GTI agreed value of $5500, $490 a year fully comp.

    Another couple of years and i might qualify for APIA.
    /// 1986 SII 505 GTI
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    Fellow Frogger! pugpete's Avatar
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    Quote Originally Posted by Gamma
    Thats right. Many insurers will not go anywhere near a car more than 20Yrs old.

    Shannons I have found to be very good.
    SII 1986 505GTI agreed value of $5500, $490 a year fully comp.

    Another couple of years and i might qualify for APIA.
    Insurance companys are bastards, all have there gotcha's, read the fine print and you will find all are as bad as each other its just what your insureing and how old you are that dictates what company is for you..

    IMO
    NRMA good for oldies and long standing members, aussie cars.
    AAMI good for young people and fast cars
    Young and Cool good for really young people and really fast cars or expencive cars
    Shannons good for classics
    Last edited by pugpete; 13th April 2005 at 04:47 PM.
    205GTi Peugeot 1988 Graphite Grey for sale $2500

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    Shannons don't want to know anybody under 29 for ordinary comprehensive.

    Some work on the percentage the car will be driven by various drivers and you can cover yourself there by putting yourself down for say 60% your wife for 30% and jumior down for 10% that's one way around it. I suppose the only time that would catch you out if is he has say 3 hits in 2 months; that's a bit hard to justify 10% of driving unless he only does 1000klms a year....all at Mount Panorama!!


    Alan S
    If it ain't broke, use a 12" shifter.....that usually does the trick!!

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    Real cars have hydraulics DoubleChevron's Avatar
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    Yep insurance companies are scumbags...... But think about it.

    Would you insure your mates that are under 25 I wouldn't touch any of you little poogoe 205 guys with a barge pole ....... Realisically there is a reason insurance is so bloody expensive, that's 'cos males under 25 bend a hell of a lot of cars. Partically 'fast' cars.

    Lets pretend you run a small insurance company, are you going to give a 19year old with a Clio Sport cheap insurance How about an 18year old with a 205/206 GTi ....... NNNNNOoooooooooooo, not a hope in hell.

    You might cover them if there driving something with the power of a Dihastsu sirion or Renault 12 though ...

    seeya,
    Shane L.
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    Gone Fishin' Ray Bell's Avatar
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    What's insurance?

    Sounds like I've been saving an absolute packet over the years... not to mention that I've avoided a lot of bickering over car ages, driver ages and whether or not it's used for business or pleasure.

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    1000+ Posts brenno's Avatar
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    Chris: I just noticed your avatar. Your GS Break is beige too? So is ours! Twins!

    My insurance premium increased when I listed my 19 year old brothers on the policy. Not by much though, I was 21 at the time.

    The funny thing was......when I listed my 16 year learner sister as the youngest driver, the premium DROPPED to below what it was previously with only myself on the policy.

    So Graham......got a daughter?

  11. #11
    Fellow Frogger! pugpete's Avatar
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    Quote Originally Posted by DoubleChevron
    Yep insurance companies are scumbags...... But think about it.

    Would you insure your mates that are under 25 I wouldn't touch any of you little poogoe 205 guys with a barge pole ....... Realisically there is a reason insurance is so bloody expensive, that's 'cos males under 25 bend a hell of a lot of cars. Partically 'fast' cars.


    seeya,
    Shane L.
    can you get that shitroen insured? i got quoted 350-400 bucks for the year to comprehencively insure my 205 from NRMA, im 25 and wouldnt haven even attepted it before now... not that i have ever claimed on my insureance, just i had friends like yours
    205GTi Peugeot 1988 Graphite Grey for sale $2500

  12. #12
    Real cars have hydraulics DoubleChevron's Avatar
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    I've never had comphrensive insurance until I insured the old '63 ID19 .... And that's only 'cos comprehensive was cheaper than 3rd party.

    Of course I now have the CX turbo comprehensivly insured. I'd be bloody stupid not to, it only takes a sh!t for brains middle aged women in a carpark to break one of it's bumpers & I'm up sh!t creak. It would cost an enormous amount to get a bumper imported.

    As I'm now 31 it costs me about 450bux a year to insure the CX turbo, about the same for the Xantia, and about 80bux a year for the ID19. The BX I have on 3rd party insurance (please will someone crash into it ..... I want it gone ).

    seeya,
    Shane L.
    'Cit' homepage:
    Citroen Workshop
    Proper cars--
    '85 Series II CX2500 GTi Turbo I
    '63 ID19 http://www.aussiefrogs.com/forum/showthread.php?t=90325
    '72 DS21 ie 5spd pallas (last looked at ... about 15years ago)
    '78 GS1220 pallas
    '92 Range Rover Classic ... 5spd manual.

    Yay ... No Slugomatics


    Modern Junk:
    '07 Poogoe 407 HDi 6spd manual

  13. #13
    Fellow Frogger! pugpete's Avatar
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    Quote Originally Posted by DoubleChevron
    I've never had comphrensive insurance until I insured the old '63 ID19 .... And that's only 'cos comprehensive was cheaper than 3rd party.

    Of course I now have the CX turbo comprehensivly insured. I'd be bloody stupid not to, it only takes a sh!t for brains middle aged women in a carpark to break one of it's bumpers & I'm up sh!t creak. It would cost an enormous amount to get a bumper imported.

    As I'm now 31 it costs me about 450bux a year to insure the CX turbo, about the same for the Xantia, and about 80bux a year for the ID19. The BX I have on 3rd party insurance (please will someone crash into it ..... I want it gone ).

    seeya,
    Shane L.
    I would say your insureance is not with NRMA as the cost to import the parts would count you out. was it shannons?

    interesting the citroen is only 450? i should have said before my 205 is insured at $3500 value what does the insureance company consider your car is worth for that price? ($450)

    there's an online quoting system now at www.nrma.com.au so you can see how much it is to insure just about anything... a 206GTi last year wen i was under 25 $3000 a year, now im over 25, its about half that,

    cheers

    pete
    205GTi Peugeot 1988 Graphite Grey for sale $2500

  14. #14
    Real cars have hydraulics DoubleChevron's Avatar
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    Quote Originally Posted by pugpete
    I would say your insureance is not with NRMA as the cost to import the parts would count you out. was it shannons?

    interesting the citroen is only 450? i should have said before my 205 is insured at $3500 value what does the insureance company consider your car is worth for that price? ($450)

    cheers

    pete
    Yep there on a multi-car policy through Shanons. I think I have the CX on agreed value of about $15,000 (it needs a respray so certainly wouldn't be worth more than that).

    Shanans will do you a good deal if you can prove your a real car enthusiest with a few cars. Especially if you have a multi-car policy (note: not all the cars need to be insured/registered. The girl on the phone got really excited when I mentioned I had quite a few wrec.... er, 'restoration cases' to be restored. I am considered the "ideal customer" apparantly). They will *not* do you a good deal if your really young and just want to insure a high powered car (after all they would want to stay in bussiness ).

    BTW: I think personally that a 206GTi is a high powered car for a new license holder. Possibly insurance companies won't as there probably a lot slower than a bog standard commonbore.

    seeya,
    Shane L.
    'Cit' homepage:
    Citroen Workshop
    Proper cars--
    '85 Series II CX2500 GTi Turbo I
    '63 ID19 http://www.aussiefrogs.com/forum/showthread.php?t=90325
    '72 DS21 ie 5spd pallas (last looked at ... about 15years ago)
    '78 GS1220 pallas
    '92 Range Rover Classic ... 5spd manual.

    Yay ... No Slugomatics


    Modern Junk:
    '07 Poogoe 407 HDi 6spd manual

  15. #15
    Fellow Frogger! Industrie's Avatar
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    When I turned 25, I was already on rating 1, so my premium DIDN'T decrease. What I found out is that, in general, the premium doesn't change based on your age, but it does change based on your no claim bonus! What reduces when you turn 25 is your excess should you happen to have an accident.

    By the way, I've found that a lot of companies won't insure me, despite my rating one for life, because I drive a sports car & am under 30!

    Edit: Hmmmm was in a rush when I posted this. Hopefully makes a little more sense now!
    Last edited by Industrie; 13th April 2005 at 10:49 PM.

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    Wow, you guys obviously don't live in Sydney...

    I'm with Shannons (should have made that clearer) and pay 300-odd for 3rd party only, with me (25) and by girlfriend (22) driving. Maybe I should ask them how much more for full replacement

    Hey macquered, aren't all GS wagons beige? Or some equally funky colour

    Chris
    GS 1220 break. Beige cars go faster

  17. #17
    XTC
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    I do love how insurance companies can discriminate on gender and age.

    I guess there is no other way to do it ... although it used to annoy me that my female uni-student friends paid less even though most of them had made a claim at some point and I NEVER did, yet was paying more ... And although if I calculate the amount of insurance I've paid over the years on cars .. it' about $12-15K ... I'd never be able to pay for a new car outright if it was written off by me or some other un-insured drongo, so it's a small price to pay.

    - xTc -
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  18. #18
    Fellow Frogger! sdabel's Avatar
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    Insurance companies have very flawed logic sometimes, I had no trouble getting insurance for my Renault 25 (fully imported, rare and very hard to get parts for). After 2 years with no claim the same company told me that they wouldn't insure my CX because it was 'fully imported'.

    In a perfect world they would charge a premium for insuring 4WD's to cover the increased risk to the driver of the 4WD and everyone else on the road.

    regards
    sean

  19. #19
    1000+ Posts Poo-Go's Avatar
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    Quote Originally Posted by sdabel
    Insurance companies have very flawed logic sometimes
    They sure do. I had third party property damage on my car, and the premium went up when I moved suburbs. How does that make sense, it's not covered for theft?

    This is especially true since the issue wasn't where I lived, but (in their own words) where the car was garaged.
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    Quote Originally Posted by Ray Bell
    What's insurance?

    Sounds like I've been saving an absolute packet over the years... not to mention that I've avoided a lot of bickering over car ages, driver ages and whether or not it's used for business or pleasure.
    Ray, please tell me you have third party property damage.

    Remind me to leave well before you if we're ever at the same AF gathering. Give me time to get away safely...

    Hope for your sake you never run into and write off an S class Merc.
    Care factor = -273.15șC

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    Gone Fishin' Ray Bell's Avatar
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    I asked a friend, who worked for an insurance agent, to get me third party once...

    Time after time I told her I wanted it, she kept promising. Then one night I drove out of a side street to turn right into a main road. There was a car coming on my right, but it had its left blinker on. I realised it wasn't going to turn so floored it, and should have got right away clean... but the pedal broke off (!!) and I was stuck there... even so, the dopey female driver didn't do anything to avoid me, just drove into the side of my van.

    Well, that episode cost me $2200 or something... about 20 years of premium at that rate. The 20 years is nearly up... maybe then?

  22. #22
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    Quote Originally Posted by Ray Bell
    I asked a friend, who worked for an insurance agent, to get me third party once...

    Time after time I told her I wanted it, she kept promising. Then one night I drove out of a side street to turn right into a main road. There was a car coming on my right, but it had its left blinker on. I realised it wasn't going to turn so floored it, and should have got right away clean... but the pedal broke off (!!) and I was stuck there... even so, the dopey female driver didn't do anything to avoid me, just drove into the side of my van.

    Well, that episode cost me $2200 or something... about 20 years of premium at that rate. The 20 years is nearly up... maybe then?
    Ray - read my lips - get some insurance - before you lose the shirt off your back

  23. #23
    Gone Fishin' Ray Bell's Avatar
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    You're saying that maybe I should be counting my twenty years of savings back the other way?

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    Quote Originally Posted by Ray Bell
    You're saying that maybe I should be counting my twenty years of savings back the other way?
    I'm saying you've been lucky . What makes you think you'll get another twenty years of the same?

  25. #25
    Real cars have hydraulics DoubleChevron's Avatar
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    Quote Originally Posted by Ray Bell
    You're saying that maybe I should be counting my twenty years of savings back the other way?
    The only way this will work is if your a poor student ... You basically have **nothing** to lose. Now Ray if you own a house and hit any sort of new car .... Some of them could be worth more than your house, there insurance company will sue you and you'll lose your house.

    To put it bluntly, you'd have to be *stupid* to risk losing your house, especially if you have a wife & kids that live in it just to save a couple of hundred $$$ a year.

    seeya,
    Shane L.
    'Cit' homepage:
    Citroen Workshop
    Proper cars--
    '85 Series II CX2500 GTi Turbo I
    '63 ID19 http://www.aussiefrogs.com/forum/showthread.php?t=90325
    '72 DS21 ie 5spd pallas (last looked at ... about 15years ago)
    '78 GS1220 pallas
    '92 Range Rover Classic ... 5spd manual.

    Yay ... No Slugomatics


    Modern Junk:
    '07 Poogoe 407 HDi 6spd manual

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