What Insurance to Go for? Comprehensive or 3rd Party?

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  Black Brown Blue on 17/10/2019 - 06:43

  I bought a 5k car. I have 3rd part insurance and pay 20 pm which is 250 per year. It’s with my local bank (BankSA) which provides the insurance through Allianz. Comprehensive not worth it for under 10k car.

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    anonymous58008 on 17/10/2019 - 10:15

    But the thing is even 3rd party gonna cost me like 80pm

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      Black Brown Blue on 18/10/2019 - 13:16

      That doesn’t sound right. You need to get more quotes

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    Antikythera on 17/10/2019 - 12:10

    i looked at 3rd party cost recently and it wasn't much cheaper than comprehensive. but then I've had my license for over 20 years without an at fault claim.

    but i vaguely remember, at age of 20 3rd party was less than a third the cost of comprehensive.

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      Black Brown Blue on 18/10/2019 - 13:19

      Everyone’s quotes depends on their age and car. But generally speaking I have found 3rd party to be cheaper. Not the case in your situation.

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  Herbse on 17/10/2019 - 10:39

  What's the price difference. Key info

  If you're a new driver, it might be worth comp for the first couple of years.

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    anonymous58008 on 17/10/2019 - 11:21

    Roughly 100$ pm difference in 3rd party and comprehensive.

    Yes, a new driver. Although doesn't seems worth to spend 180 pm for a 3.5k worth car.

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      Herbse on 17/10/2019 - 11:24

      $1200 a year is a lot, yes.

      The risk factor is there. If you have an at fault accident, you will have to pocket the repair expenses yourself.

      If you go 3 years without having an accident. You would have saved enough money to cover the value of the car and you're in the green moving forward.

      It's a decision you'll need to make.

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        anonymous58008 on 17/10/2019 - 11:34

        Maybe I will go initial 2 months with comprehensive and then change to 3rd party as I start to feel comfortable with those manual gears v:

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          Herbse on 17/10/2019 - 11:37

          @anonymous58008: Definitely not a bad idea.

          Also invest in a dash mount for your car so you can use GPS and music controls legally

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          Antikythera on 17/10/2019 - 12:12

          @anonymous58008: there is also options for low km drivers. i have comprehensive but with only 10,000 km per year. saves me a significant amount compared to normal unlimited km policies.

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        RocketSwitch on 17/10/2019 - 12:06

        I thought third party covers this even at fault?

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          Herbse on 17/10/2019 - 12:11

          @RocketSwitch: "pocket the repair expenses of your own car yourself"

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            RocketSwitch on 17/10/2019 - 12:37

            @Herbse: Ah, I see.

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  DangerNoodle on 17/10/2019 - 12:56

  For my cheaper runabout, we have the car insured with people's choice (underwritten by cgu), mostly because their third party rates are reasonable and can cover damage to your vehicle in certain situations.

  That being said if your car is only worth 3400, most accidents will put you in the write off range.

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  lltravel on 17/10/2019 - 17:15

  Get the comprehensive

  The last person who hit into me came into an 11k bill.

  I know my excess is 2.5k. Hope you don't run into me mate.

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    ar7ist on 18/10/2019 - 07:57

    But isn't that the point of 3rd party, he just has to pay excess and not the 11k?

    Also another question, if the other person is at fault and our car gets written off or damaged, is there something the I can do? Is the 3rd party insurance of the other person going to arrange a replacement?

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      kerfuffle on 21/10/2019 - 07:30

      But isn't that the point of 3rd party, he just has to pay excess and not the 11k?

      Most likely the bill was 11K because he had no third party property at all i.e. no insurance

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  MintBerryCrunch on 18/10/2019 - 03:07

  Definitely third party.
  I've saved so much over the years by not having comprehensive it's insane.
  At the end of the day, cars are disposable. You replace them if they explode by some act of god.
  If someone else explodes it for your, then fine insurance.

  So yeah, third party it is.

  You dont want to be stuck reparing someone else's car.

  As a young driver you will probably wreck someone elses' car as well.

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