$1644.55 a year for CGU Comprehensive!!!!!
2007 hyundai
no claims
$400 excess
Why is it so expensive!
$1644.55 for CGU Comprehensive
angywoo on 17/11/2023 - 19:02
Comments
$7200
You might live in a shit suburb?
Paying extra for lower excess?
No parts for your car so good chance it will be an economical write off with a minor smash?
Not a combined policy for extra discount?
How old are you?
Did you identify as a male in the options? Always choose unsure or other.So many variables.
you raise a great point with the no parts comment.
To be fair they are all great points
All good questions Muzeeb!
And…
Did OP make a claim in the last 3 years?
Did OP get quotes from other insurers?
OP already said no claims.
OP wasnt specific as to No claims in last 12 months or no claims in last 3 years or NEVER
Regardless $400 is a very low excess these days so could boost the premium by 50%-100%
Suggest OP increases the basic excess to the standard $700 and watch his annual premium drop big time.
Shop around. CGU are usually among the most expensive.
As much as I hated AAMI, they were the cheapest by about $400 compared to everyone else
we found ing was the cheapest but aami had a special and beat it slightly
Sometimes it pays to procrastinate (it was a week)
Go to budget direct and let us know the premium
If it's roughly the same, there's something in your personal details that's making it similar everywhere such as suburb.
ok will let you know
Why are budget asking me if I own a home for car insurance?
Combined/multi policy discount. The more you have insured with them the bigger the discount.
OP removes tin foil hat
@Muzeeb: I am only asking for car insurance. No multi option was offered. So it should be irrelevant if I own my house when asking for car insurance unless that data is used to determine the amount of my policy.
Also, your tin foil hat comment is excrement.
@angywoo: But if you say you have a house they will try to upsell you a multi policy discount. It takes 1 second to answer the question. There is no malice intended in that question by budget.
budget is $1476.29
higher excess and only offering market valveHow old and what gender? How long have you had a license? I'm guessing this is holding you back.
I'm guessing by the questions you are asking that this is your first comprehensive policy and also the reason why your premium is so high.
Just get third party. Your car is worth nothing anyway.
Yeah not much difference.
The conclusion is, it's not really your car imo. It's something in your profile that's making it similar to all other insurances.
For example with me, I lived in mascot and my insurance was $450 less before I moved to Homebush and it jumped up by $450!!! Everything the same, even where the car is kept.
That's one factor of huge price difference is where you live. Then it all others like age, sex, history etc……
Manipulate that excess
Is that you Mrs Muzeeb?
Why do you have such low excess? If you do not have horrible drivers in your household who drive that car and do not expect to have at fault claims (that will ruin your rating and insurance premium next year) you should be bumping that excess to $850 or even $1200 - that should reduce that quote to bellow $1000 mark, at least that is what you can get with NRMA
I like your comment. Might give it a go and see what happens.
$1261.89 for the year 1k excess. $7200 cover.
As I've mentioned multiple times it has to be your lack of driving experience, age, gender and suburb.
I just did a dummy quote for a 2007 i30 and it was $340.24 with RACV $750 excess.
Have been in the same house as when the policy started, my gender hasn't changed, my age is 40ish, been driving for 20+ years.
maybe time for a new car.
Wait for my next post…tin foil hat eat your heart out.
It’s a numbers game. It costs YOU more because of something in your profile. I’m gonna guess it’s location or age or driving habits or …
Time to consider third party property - but ONLY if you can afford to replace your own car with savings at short notice (or live without a car). That’s in case someone uninsured hits you or you hit someone else. TPP will cover damages you cause to others in case you hit a Mercedes but not to your car.
thanks to ozbargain, $$ to replace my car is not an issue.
I’m gonna guess it’s location or age or driving habits or …
how does OPs insurance know his driving habits?
If OP has a habit of crashes and a history of prior claims then they will know.
They ask questions when you get a quote. Distance travelled, claims history, points accumulated etc.
Insurance broker
never thought of using one. Thanks for the suggestion.
Ignore the naysayers. Phone around get an idea of the cost. 1 visit may sort out all the insurance in your life and save enough in the rationalising to justify the exercise.Especially over the long run.
would a broker work with a 2007 Hundai shitbox?
that's an amazing sum IMO… its more than what i've paid for a $50k jappo SUV
@tonyjzx: Brokers work for 'clients' , not for a single component of their assets. You weigh up how many things you normally insure to begin with.
Not worth it for comprehensive for a car of that value, with a premium that high.
Except if having a car is essential for your lifestyle and you cannot afford to replace it out of savings. There are many posts here about being hit by an uninsured driver or by someone who will not start a claim with their insurance.
You can buy another car for only a couple of years worth of premiums.
This is true, but many people can’t save to save themselves. It’s potentially better that they put money into monthly insurance payments. If you can keep a few thousand in the bank for unforeseen circumstances TPP is a good option - assuming you really need a car all the time.
Personally, I can get to work without a car and can manage around other stuff if a car is off the road at short notice. I would have TPP on a car under about $10k but have funds, and mechanical ability to go pick up a cheap car at short notice.
Some people don’t have another way to get to work or don’t have access to a loaner.
a car that old shouldnt cost that much
wifes 06 jetta was like $400 pa
It shouldn’t cost that much, but we don’t have enough details. Could be a young driver, bad record or high risk area.
I was surprised that our new car cost a lot less than our old car. Could be because of the extra safety stuff in the new one.
Finally extracted a few more details about OP
It was like pulling teeth to get a bloody answer though. FFS.
@Muzeeb: @Muzeeb What is your issue? Your comments about me are rather aggressive?
In the original post, I gave all the information I thought I needed to provide.
Apart from my age and the age of the car, nothing about my situation has changed since my last policy.
Thank you for your interest.
@angywoo: No issues on my end.
My point being that within 2 minutes of your post I suggested some questions that may be relevant.
You fluffed around for hours before providing the info that myself and others were asking.
@Muzeeb: Are you serious?
I don't sit on Ozbargain all day waiting for replies. I'm sure I am not the only one who has a life away from pizza and their computer.
It is good to know you are rather precious. I appreciate your time and your suggestions, now please find someone else to stroke your ego.
i went with Auspost car insurance for my comprehensive.
cheapest i could find for my own circumstances.
Even though you haven't moved, the risk profile of your suburb could have changed over the last twelve months. Perhaps the number of claims made by people in your postcode increased significantly over the year? That's not information you can readily find out, though, unless your suburb had widespread flooding or a huge hailstorm or something.
You might onto something here because I can't seem to put my finger on it.
Tee hee… it’s more than what the car is worth. :D
absolutely!
What's the cost of third party for your vehicle with the same excess of $400 (*) from CGU?
(*) As others have pointed out repeatedly, you should really be bumping up that excess as high as possible.
Some insurers have a number of policies/years of loyalty matrix up to 25% discount vs loyalty tax. Obviously check to see if you have a good deal compared to elsewhere.
do you know who they might be?
Brands under CGU's parent such as NRMA and RACV (jv in Vic).
thank you
Speak to one of them and find out where the high premium is coming from.
Time for third party and if you have to save the difference in case of writeoff (or in other words self insure the you part of an accident).
how to opt out of insuring me against myself (as opposed to me against others; and others against me)
Everyyyyy day there's someone complaining about insurance - it's always a rip off but there are a billion variables they use to calculate it so not sure what exactly you think we can do about it lol
just get 3rd party fire and theft and self insure for the rest, once premiums get close to 20% of car value it's not worth it
ALSO, any 'year' now covid pricing on used cars will reduce but I bet you premiums will NOTLow excess for CGU, what extras did you add, glass waver, named or permitted drivers, are you or any drivers under 25 etc? There will also be issues around suburb, age, gender, driving record, etc.
I cover for everything offered. Nothing has changed about me apart from my age and the age of the car. It is the same quote info as last year, just different cover dates and my age.
Same. I get quoted $2000+ cus of my shit suburb Guildford nsw. I have Yaris
What is the Sum Insured?