Comprehensive Insurance

[2008 Accord Euro]

Just wanted to ask what insurance companies people mostly use to get the best premiums? The Euro is a 2007 built Tourer model (Auto).

I have had my car for over a year, and it has been insured through a work deal with Allianz for $950, which is better than any other deal/online quote I could find at the time since I was the owner and was under 25. It is located in Sydney West.

Now that I have to renew and no longer have that offer through work, I've been getting a few online quotes from NRMA, AAMI, Allianz and the premium is insane - on a basic excess of around $500-$600, the premium works out to be $2,000 to $2,400. I went to justcar and got a quote of $2,200.

I find that very steep despite the fact that I'm now over 25, have had no claims before and a clean record. I have been on my full licence for 6 years now.

I'm just wondering if there are Euro owners in a similar position to me and where have they got there insurance from because forking out $2K for insurance is pretty insane, especially as I only drive the car 5,000 km a year.

[2008 Accord Euro]

I forgot to add that AAMI so far has the best deal with $1,977 on the basic $550 excess. Increasing the excess to $1,100 will reduce the total premium to $1,681, which at the moment is the best deal I can find.

However, is it worth the risk in increasing the excess to $1,100? Do many of you also increase the excess of your Euro to get a lower premium? I'm just trying to find the best balance with increase excess/reduce premium.

[Crapdaz]

How old are you?
Do you have parents around available to help?

Insure it under your dad's name and get your name under the policy then just pay for the premium.

That premium sounds as if you are under 25 hence why it's so large.

NOTE:
i don't think you would want to increase excess so much cause it'll be harder when you have to pay out a large sum due to an accident.

&

Your paying out premium if you pay annually.
$1977p.a = $38/week ; $550 excess <--- cheaper in terms of an accident
$1681p.a = $32/week ; $1100 excess

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But wait for someone's opinion.

[HunterZero]

Some companies eg NRMA give you a multiple policy discounts, eg if you have your third party insurance with them. I think you have to have two other policies with them to qualify.

But basically car insurance comes down to building up your no claim bonus over a number of years - which is yet another way of stinging younger drivers.

Which sucks when you think about it - it encourages younger drivers to buy cheaper, less safe bomb cars that aren't worth insuring.

- HZ

[2008 Accord Euro]

How old are you?
Do you have parents around available to help?

Insure it under your dad's name and get your name under the policy then just pay for the premium.

That premium sounds as if you are under 25 hence why it's so large.

NOTE:
i don't think you would want to increase excess so much cause it'll be harder when you have to pay out a large sum due to an accident.

&

Your paying out premium if you pay annually.
$1977p.a = $38/week ; $550 excess <--- cheaper in terms of an accident
$1681p.a = $32/week ; $1100 excess

-----------------------------------------------------------------------------------------
But wait for someone's opinion.

I'm 25 so I'm not sure why the premium is still so high. Can I still insure it under my parents if I'm the sole owner of the car?

[2008 Accord Euro]

Some companies eg NRMA give you a multiple policy discounts, eg if you have your third party insurance with them. I think you have to have two other policies with them to qualify.

But basically car insurance comes down to building up your no claim bonus over a number of years - which is yet another way of stinging younger drivers.

Which sucks when you think about it - it encourages younger drivers to buy cheaper, less safe bomb cars that aren't worth insuring.

- HZ

Yeah my CTP is also with Allianz so will be transferring that to whichever insurance company I go with on the comprehensive.

So the higher your no claim bonus, the lower the premium? Would the no claim bonus still work if I've built it up at company A and then changed to company B?

[outatime]

so how much do you pay for your insurance Crapdaz? i'm keen to know too.. thinking of getting a euro. :p

[2008 Accord Euro]

Does anyone know how to add another person as an owner to my car? Currently, I'm the only/sole owner of the car, but I would like to add another person's name to the car.

[doosra]

get it insured under your mom or dad's name.. and you don't even need to list yourself as a driver.

when i called aami, i said "the car is my mum's, however i might drive it once a month or something, for emergency purposes. Would i have to be listed?" and they said no. I asked whether i would still be covered and the answer was "yes"

i'm with aami and i'm paying bout 900 and standard excess with aami for my 04 euro.

I've also had a minor prang and bumped into someone's rear and that was covered no questions asked...

how are the insurance companies going to know if you drive it everyday.. "it's just bad luck that you have an accident on the one day that you take the car out"

[hondar]

try GIO... normally they give the best quote

[2008 Accord Euro]

get it insured under your mom or dad's name.. and you don't even need to list yourself as a driver.

when i called aami, i said "the car is my mum's, however i might drive it once a month or something, for emergency purposes. Would i have to be listed?" and they said no. I asked whether i would still be covered and the answer was "yes"

i'm with aami and i'm paying bout 900 and standard excess with aami for my 04 euro.

I've also had a minor prang and bumped into someone's rear and that was covered no questions asked...

how are the insurance companies going to know if you drive it everyday.. "it's just bad luck that you have an accident on the one day that you take the car out"

Thanks doosra. Very valid point you make there. However, would I still be able to get it insured under my mum if she is not the owner? I just asked NRMA today and they said the owner must be insured as well.

So on your 04 Euro, are you the only owner or are you parents also listed as owners too?

I pretty much need to raise the excess to the max on $2,000 excess to reduce the premium to around $1,600, which is still very expensive.

$900 on standard excess is much cheaper than the $2000+ rates I'm getting quoted on.

[doosra]

in my case.. the car was purchased under my mom's name as well.. wasn't purchase under my name cause i knew i would insure it under her name..

always research about cost before buying a car...

can u tell the RTA that you're giving the car to your mom.. generally you have to pay stamp duty for changing names of after buying... however i'm not too sure how it works if you say you gave it away...obviously it has to be believable such as a relative.... anyone know ?

[aaronng]

Also try Just Car, they are underwritten by AAMI.

[2008 Accord Euro]

try GIO... normally they give the best quote

Thanks for the tip. Though I just tried their online quote and was shocked to get $3,064 for the premium!!...this is with the same details/info/data input compared to other companies like AAMI, NRMA etc

[2008 Accord Euro]

Also try Just Car, they are underwritten by AAMI.

Thanks Aaronng, just tried justcar and for some reason I got quoted $1,349 on standard excess of $600. By far the best deal I've found so far, comparing this to GIO's $3000 is pretty insane.

Is anyone here insured with Justcar? Are they reliable?

[Spagz]

go with youi man they are cheap.

Someone already hit my brand new accord euro..... best company to deal with i got to choose my repairer assesser company was quick

no hold time when you called them

aami wanted like 1500 for the euro for comprehsive

youi was 1150

[HunterZero]

So the higher your no claim bonus, the lower the premium? Would the no claim bonus still work if I've built it up at company A and then changed to company B?

Yep, higher the better. Usually maxes out at a 60&#37; or even 65% discount. And if you change insurer, mention you hold a no-claim with the previous insurer, the new insurer normally will match it.

Trouble is, depending on your policy, if you make a claim you can lose part or all the noclaim, which makes making a claim even more expensive when time comes to renew the policy. Sometimes, they allow one claim per year without losing the bonus, sometimes you can get it for life. You can usually pay a small amount to insure your no claim bonus!

Postcode makes a big difference too.

- HZ

[2008 Accord Euro]

Yep, higher the better. Usually maxes out at a 60% or even 65% discount. And if you change insurer, mention you hold a no-claim with the previous insurer, the new insurer normally will match it.

Trouble is, depending on your policy, if you make a claim you can lose part or all the noclaim, which makes making a claim even more expensive when time comes to renew the policy. Sometimes, they allow one claim per year without losing the bonus, sometimes you can get it for life. You can usually pay a small amount to insure your no claim bonus!

Postcode makes a big difference too.

- HZ

Cheers for the explanation. I think my NCB is 40% during the time I've had the insurance. Will mention this to the next insurer if I do change companies.

[aaronng]

Cheers for the explanation. I think my NCB is 40% during the time I've had the insurance. Will mention this to the next insurer if I do change companies.

Just tell them how long you have been with your previous comprehensive insurance for all the cars you have owned and they will calculate your NCB.

[furythree]

$2k for insurance? 0.0

i only paid $900 for mine... full comprehensive insurance with nrma

although it was under my uncle's name and i told them to change the residential address (place where u park ur car at night) to my home address because i live in a quieter suburb. that reduced the price down to $900.
the guy tried to intimidate me because he knew i was the main driver (what kinda of 58 year old puts mugen power stickers over his car) and said that if u have an accident. depending on what it is, they will investigate. but thats just to freak u out and make u paranoid enuff to be perfectly honest.