Hi ozb looking for help. I am buying a new car (I know) but I am getting quotes of 1600 to 1900 for fully comp. This is my first fully comp insurance in Australia. I've been driving for 20 years now crashes had third party insurance previously.
Got quotes from budget direct and tried finder and compare the market
Seems expensive to me but happy to hear anything from the community
Stick with 3p
Don't get a policy from BudgetDirect unless if you are prepared to settle with a second hand engine on your car, instead of manufacturer's warranty on your new car you'll have to deal with random mechanic warranty (happened to a family member during a heavy rain). Quotes you are getting are inline with current market.
Quotes seem pretty reasonable for fully comprehensive on a new car.
This. Also depends on how much your car is worth. My top-spec hybrid Corolla is $2000+ for comprehensive with NRMA, at market value (which is currently slightly more than what I paid for the car), with windscreen and hire car options added. Car is $44K. I also live in a crappy area
nope, depend on where you live pretty much.
I think the crappy area is the key there. I'm paying about $1200 for my Rav4 hybrid that is 2 years old, and that's after they bumped the premium about $200 this year and whacked an extra 12K on the value of the car. First time I've had market value go up. :)
It sure is. But another big factor is my lack of insurance history (I used to leech off my dad until someone T-Boned my old car and wrote it off; it was quite annoying for my dad to be getting the phone calls despite myself putting my details down as the contact and driver)
@kerfuffle: Nope, try to put the quote through and change your location to some regional cities and you'll find your premium is half that.
@lgacb08: Yeah you have no idea about insurance. It's not just your location that has an impact on the premium. Age, gender, cost of car, insurance history, etc. I know cost of car is definitely a factor because I've had two cars at the same address now
@kerfuffle: Location is the most relevant on the cost difference when people start quoting their number on the online forum. Every other information posted is a moot point and cost difference is minimal or there're other insurers that can do better. (well being a male and under 25 is a significant factor too but that already come with high excess). There is no linear relationship between cost of a car and insurance premium so that's not a point worth discussion, premium of the same car 10 year a part can only be a hundred or two difference and that doesn't reflect the 2-3 times cost difference between them. Yours is just a meaningless anecdotal comparison because you've been living under the rock for too long and can't be bother research your own insurance quote, let alone to see how much cheaper younger male can get insured by living 300km away from you.
@lgacb08: it's not only where you live but how the car is stored. There is a significant price difference (Actuarial fact) if car is locked and garaged vs carport vs on street. Of course on street means minimal car security and maximum risk of possible damage claims.
significant cost addition is choice of repairer (minor- but those on a budget should be aware) and who else may drive the vehicle. Make and model generally the actuarial risk decreases proportionate to value of car as higher end cars have higher end security.
I remember the days in Altona when a Commodore was stolen everyday and chop shopped.
I've found everything (insurance, utilities) has gone up at least 20% 😔
Or the true value of the Australian dollar (purchasing power) has decreased by 1/5 due to excessive borrowing creating currency devaluation and inflation.
The more you print the less it's worth. The more your borrow the less it's worth. Increased currency supply inversely proportionate to purchasing power.
Increased foreign debt inversely proportionate to purchasing power.
$1 in 1901 is equivalent in purchasing power to about $35.90 today, an increase of $34.90 over 122 years. The dollar had an average inflation rate of 2.98% per year between 1901 and today, producing a cumulative price increase of 3,489.52%.
Thank going off the gold standard, floating the currency, and excessive government borrowing.
https://www.in2013dollars.com/us/inflation/1901?amount=1
https://www.aofm.gov.au/publications/research/foreign-curren…
Considering how dangerous driving can be and if it'll get your car repaired or replaced, and get you a loaner in the meantime, it's probably worth it? Don't let your previous 20 years of no crashes fool you into thinking your odds of future crashes are lower than anyone else's.
try auspost car insurance currently have $100 off online car insurance.
under written by QBE
I've used them twice and last policy in may was for comprehensive insurance for $349 (2014 mitsubishi Outlander).
never claimed with them so can't talk about that end of the process.
always read the PDS and check that the policy you are choosing suits your needs
Thanks mate.
I clicked- $75 off?
Yes, they lowered it :( However, cashrewards still available. I just insured my honda jazz and will insure another one soon (way cheaper than the rest and they give you 10k driving which is very good)
Thanks everyone good to know that the quote is in the realms. Really appreciate it. Ozb is such a great community
I pay half of that (for a car worth $27,500), and am of a similar age, but have had insurance for ages, and have made claims on it.. stolen car write off, small claim (my fault), car written off after someone crashed into it while parked (not my fault), so to me it sounds high, but of course if your car is worth more than twice as much it would start to get up there. Lack of history with comprehensive insurance probably counting against you. I'm with RAC and have usually found them to be as good or the best quote when I have checked (usually check with 2 others on renewals).
Quotes vary wildly between insurers. I recently got quotes.
between $1000 (had to have their app etc) to $3k. Increase your excess to drop premiums. Some will cover any driver, some will cover listed only. Don't go with some dodgy thing to save $100.
does their app track your driving so as soon as you go over the speed limit or park incorrectly they void your policy but keeping taking payments from you, without informing you it's been voided?
No idea, I had no interest in some little known company who would try to weasel their way out of any claim.
Quotes will be high due to not having full comp previously, unfortunately….
:(
Arrange insurance through a broker? They will advise on the best value, least risk option.
I might have a look into this I have a 20 day cooking off period but needed it urgently for finance
If you’re a male, nominating a fully licensed female as an additional driver on the policy can lower the premium with some companies.
what are the reasons behind that? I always think the premium will increase when you add more drivers
Try getting a quote from Bingle. They get a bad rap but over the years I’ve made about 4 claims with them and it was all hassle free.
Upfront excess payments even if you’re not at fault, and no choice of repairer are downsides to using them.
Paying $632 for a 2012 Camry Altise. Seems high? Over 50, MVA in 2020 not at fault. Or is this about right?
*nothing added. No glass, no nothing extra, $1k excess.
Compared to some quotes $600 for comprehensive seems pretty good.
Went with youi but the premium seems very expensive. Needed to get it to get the new car will take the hit this year and use a broker next year and see what can be done.
Thanks everyone
With no previous comprehensive insurance, you'll be on the lowest no claim bonus, i.e. more expensive.
The longer you stay on comprehensive, the higher the no claim bonus will be, and the cheaper it will get, as long as you have no claims.
how do they know? Is there a shared data base (similar to credit check) to see if you used comprehensive (or any) insurance?
They ask for proof. If you can't provide proof, then they cancel your claim and policy for being dishonest.
Obviously it depends (your car, neighborhood etc.) but get more quotes from everyone (some of the cheaper ones are Auspost, Coles, Woolies etc.) and increase your excess to an amount comfortable to you.