Cars & Motorbikes Comprehensive car insurance

Discussion in 'Living Room' started by Simon Hampel, 1st Mar, 2018.

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  1. Simon Hampel

    Simon Hampel Founder Staff Member

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    My car insurance is due for renewal and I think it's time to start looking at alternatives.

    The main issue I have is that we drive a lot less than the average person and so our 8 year old Toyota Aurion has only done 65,000km (based on the quoted average of 15,000km per year, we should have done over 120,000km by now).

    That matches what I see listed in for sale adverts - pretty much every 8yo Aurion listed for sale right now has done well in excess of 100,000km. Those few which have done substantially less kms are naturally worth quite a bit more.

    When the insurer lists their market value for the car, it's based solely on age and does not take kms driven into account.

    Even "agreed value" has an upper limit which doesn't really get it close to what it would cost us to replace our car with something of both similar age and mileage - especially when you have aftermarket towbars / roof racks / bike racks / etc which you need to add on above that figure.

    Does anyone have any suggestions for comprehensive car insurance where there is more flexibility in agreed value or where they do take kms driven into account when calculating market value?

    I'm not after the cheapest/budget option - I'm looking for a bit more flexibility and I prefer dealing with insurers who will actually look after you if you do need to use them and have good customer service.
     
    Simon Hampel, 1st Mar, 2018
    #1
  2. hammer

    hammer Well-Known Member

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    Hmm...I reckon the jury would be out if that car is even worth insuring comprehensively? Even with those Ks.

    Could you just get good (ish) CTP insurance and stash the savings you make away?
     
    hammer, 1st Mar, 2018
    #2
    chylld likes this.
  3. Simon Hampel

    Simon Hampel Founder Staff Member

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    Going to cost close to $15K to replace the car with one of similar age and kms plus all accessories ... comprehensive premiums are around $1K per year. That's a big difference.
     
    Simon Hampel, 1st Mar, 2018
    #3
  4. BKRinvesting

    BKRinvesting Well-Known Member

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    Just Car used to have an Agreed value sans cap if I remember correctly.
    Might be worth a shot.
     
    BKRinvesting, 1st Mar, 2018
    #4
  5. hobartchic

    hobartchic Well-Known Member

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    I had to replace my car recently due to a write off. I found that Suncorp through the dealer gave me the best policy and price. My previous insurer upped the premium which was not great as I had not caused the accident. Always lose money with accidents. Total pain buying another car but I bought an older Toyota again and happy with it so far.
     
    hobartchic, 1st Mar, 2018
    #5
  6. Phantom

    Phantom Well-Known Member

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    Who are you currently with Sim?
     
    Phantom, 1st Mar, 2018
    #6
  7. KinG3o0o

    KinG3o0o Well-Known Member

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    i am with famous insurance, they are good for what i get because my car is very hard to insure at my age..

    try youi and aami or nrma etc.. the generics are usually ok for normal cars.. just make sure you play around with the "agreed value/market value" + excess.


    the way i look at excess =
    if the repair is less than $1-2k. i fix it my self and i dont hurt my no claim bonus. (i would have to pay an excess anyway, why not just get it fixed my self without going through insurance

    if its more than $2k. i pay the access and thats why i get insurance in the first place.

    been doing it from day 1.


    touch wood been good to me

    at under age 30, i am in a 300++ kw car and my premium is $1300.

    access around 1.5k
     
    KinG3o0o, 1st Mar, 2018
    #7
  8. Simon Hampel

    Simon Hampel Founder Staff Member

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    Not anymore :(

    Important Announcement from Just Car Insurance
    We’d like to let you know as a member of the Just Car Insurance community that from 13th January 2017 Just Car Insurance policies will no longer be issued.​

    They are directing people to AAMI and Shannons as alternatives.
     
    Simon Hampel, 1st Mar, 2018
    #8
  9. Toon

    Toon Well-Known Member

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    Woolworths Car Insurance allows you to nominate a kilometre range that you expect to travel within. I recently switched my Audi TT Quattro from Shannons to Woolworths and the premium dropped from around $40 p/mth to $26 p/mth. I have no idea what either of them are like to actually deal with in the event of a claim though. I was able to select an agreed value that is probably about right too, which I found some insurers did not offer.
     
    Toon, 1st Mar, 2018
    #9
  10. BKRinvesting

    BKRinvesting Well-Known Member

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    Ah bummer.
    Shannon's would do agreed value?
     
    BKRinvesting, 1st Mar, 2018
    #10
  11. Indifference

    Indifference Well-Known Member

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    OMG... Insurance in Sydney is steep!

    My car costs 2/3rds of that to insure & is worth twice as much....
     
    Indifference, 1st Mar, 2018
    #11
  12. Blueskies

    Blueskies Well-Known Member

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    Are you planning to write it off in the next few years? If not I'm with @hammer i would just go for third party and self insure for the $15k
     
    Blueskies, 1st Mar, 2018
    #12
  13. Simon Hampel

    Simon Hampel Founder Staff Member

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    The difference in annual premiums between Third Party and Comprehensive (once discounts etc are taken into account) is only about $500 ... I don't see how "self insuring $15K" to save $500 per year adds up?
     
    Simon Hampel, 1st Mar, 2018
    #13
  14. Simon Hampel

    Simon Hampel Founder Staff Member

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    Yeah, I looked at Woolworths - the premiums were about $200 cheaper with lower annual distance travelled, but their maximum agreed value was nowhere near as high as my current insurer, so it was actually worse overall.
     
    Simon Hampel, 1st Mar, 2018
    #14
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  15. geoffw

    geoffw Moderator Staff Member

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    I'd also check to see if you get a discount getting CTP together with comprehensive, even if they are not up for renewal at the same time. My wife saved about $200 on a $15k car doing this. This does limit your options I believe.
     
    geoffw, 1st Mar, 2018
    #15
  16. vbplease

    vbplease Well-Known Member

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    $1k premium for a $15k car sounds a bit high.. We pay $750 for a $30k car with Allianz.. could try them? Their agreed value had a good range for our car..
     
    vbplease, 1st Mar, 2018
    #16
  17. Lil Skater

    Lil Skater Well-Known Member

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    My car has just ticked over two years as of a couple of days ago... 80,000km :eek:

    I just changed insurance as I was with AAMI, but found Bingle to be $400 a year cheaper for the same cover. I had to do a claim before Christmas for hail damage and so far so good. Bingle don't do agreed value though, but because I have a loan on my car I have gap insurance anyway - so might not work for someone who owns outright.

    $1k sounds stupidly expensive IMO. Mine is about that, for a car insured for almost double and doing a heck of a lot more travel therefore more risk from an insurance perspective.
     
    Lil Skater, 1st Mar, 2018
    #17
  18. Simon Hampel

    Simon Hampel Founder Staff Member

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    "We're sorry but we can't provide you with an online quote right now for the following reason/s:
    due to your optional accessories exceeds our acceptance limits"

    They don't like me adding $3k for a tow bar, bike rack and roof rack/ roof box :(
     
    Simon Hampel, 1st Mar, 2018
    #18
  19. geoffw

    geoffw Moderator Staff Member

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    Insurance can vary according to a whole heap of factors- like postcode, how a vehicle is garaged, ages of nominated drivers, claim history, number of stupid photos on Facebook, whatever.
     
    geoffw, 1st Mar, 2018
    #19
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  20. Simon Hampel

    Simon Hampel Founder Staff Member

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    That $1K includes a few optional extras such as hire car - we only have 1 car, so we would definitely need to hire if our car was undriveable. Alianz is a similar price for the same basic parameters.

    Alianz were no better than Woolworths with their maximum agreed value.

    Will read through the policy document to see how flexible they are with addons.
     
    Simon Hampel, 1st Mar, 2018
    #20
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