I have a coroll worth $2000-3000, i am wondering if its worth to pay the extra to get comprehensive coevr. Also the third party covers 'damage to my vehicle due to collision or crash up to $5000'. So do you guys think its worth to pay comprehensive monthly at 123.55 or third party monthy at 59.91.
Edit: i am currently 21, hence the absurdly high cost.
I would suggest that you shop around.
3rd party. That's really expensive insurance.
have you shopped around?
Currently NRMA has the cheapest under 25 excess, and my rents have been using NRMA
I have had over $120k house and car claims with Nrma, with not 1 problem with them, you only know how good your insurance is when you need to claim on it.
does that mean you've shopped around?
A higher excess might be a better option.
tbh it's a 2k car, will cost you $1500/year for full comp + excess…. $400? 500? = the value of the car
Get yourself some cheap F&T and self insure the value.
Geez. My annual comprehensive insurance is only $800-900 p.a for a 2014 Civic. Why is your monthly so much more? Have you shopped around?
under 25
3rd party and yes 60 bucks a month is too much!! I had a corolla 2004 that was about that much for full comprehensive. shop around get some more quotes
Member since too short
And
The usual car problem…
Also the third party covers 'damage to my vehicle due to collision or crash up to $5000'.
Isn't that only if you are found not at fault in an accident and the other driver doesn't have insurance or if the car has been stolen or caught on fire?
Thats one of the point i am really unsure about, i have to call them and ask tomorrow i guess.
Pretty sure thats the case as my insurance policy with virgin insurance is also third party property, fire and theft. Its just a fancier version above third party property which only covers the other driver when you are involved in an at fault accident.
The third party property, fire and theft covers the other persons damages if you cause an accident but it also offers you up to $5000 to compensate you if your vehicle is stolen or catches fire or if you are involved in a not at fault accident but the other driver doesn't have insurance.
Like you I am also paying insurers that sweet under 25 tax they heft onto us, I think I'm paying 83.35 a month to cover my 1994 80 series landcruiser.
as an adult, i strongly recommend you read the comp and F&T policy for your parents insurer. Many adults have no idea what it actually says, and end up in shit when they find out theyre not covered (no refunds on premiums paid).
I think you'll need to self insure yourself + 3P
geez 3rd party $720 pa ?
in qld $200 pa no matter what age or car
Holy crap that's expensive even at your age. Shop around my friend.
Do you have a parent that could just nominate you as a driver?
Wont help, as soon as i am added to the insurance policy the cost shoots up.
Have you tried Bingle? I was curious and got a quote for a 2000 Corolla and an extra driver under 25 added just $500 to the quote for a total of $1093. That's $83 per month.
Bingle is generally pretty cheap.
Can you afford to buy another $3k car if the Corolla is stolen or written off? If you can't afford the $3k then get comprehensive insurance.
Insurance is for people (like you and me) that can't afford to replace things. Rene Rivkin and Kerrie Packer had millions of dollars worth of cars and they weren't insured.
Drop the fire cover unless you are planning to torch the car yourself! Fire cover can add quite a bit to the premium. If your car is worth $2000 and you have an excess of say $900 you would only get back $1100 anyway with comprehensive.
If you can afford comprehensive, get the TPP and save the difference in a car ‘incident’ account or somewhere you won’t spend it. Use it to upgrade later.
If you get TPP make sure you have a way of coping with the unfortunate case of you causing an incident and damaging your own car. You need to be able to repair or replace your car at short notice, or at least be able to make do with public transport or borrowing a car because TPP will not help with that.
It’s an extra $800 a year for comprehensive.. 2ish years and you would have covered the extra cost + your excess. If you have emergency funds I would just go third party fire and theft