Needed 3RD PARTY Car Insurance Advice

simprosimple on 09/03/2015 - 15:07
Last edited 09/03/2015 - 15:20

Hi, another car insurance help topic. (Skip to ~ START HERE ~ if you dont't wanna listen the story)

I'm 23, got my license last year and just bought my first ever car.

HIGH RISK category from Insurance company
* I'm Under 25
* In-experienced Driver (Less than 2 Years Licensed)
* NO car insurance history

My car model is 1999 Hyundai Excel 3DR Hatchback, looking for 3RD PARTY insurance and need some advice.

I'm not looking for Comprehensive one as the insurance excess fee (~$1200) cost more than the cost I bought the car. Attached with a list of 3RD PARTY insurance quote I got

Just Car Insurance $306.00 - Excess Fee $1275
AAMI $355.64 - Excess Fee $1025
1300 Car Insurance $454.00 - Excess Fee $1500
GIO $468.49 - Excess Fee $1050
Budget Direct $477.00 - Excess Fee $1500
Bingle (No 3RD PARTY insurance)

Woolworths, Coles, QBE, etc are over $500+, so not showing

~~~~~ START HERE ~~~~~

So it's just dilemma between AAMI VS Just Car Insurance, here with more details

AAMI $355.64 - Excess Fee $1025
  • damage to another person’s vehicle or property (up to $20 million)
  • damage in a collision with another vehicle driven by an uninsured driver (up to $5,000)
  • loss or damage to another person’s vehicle or property when car is towing a caravan or trailer (up to $20 million)
  • towing and storage costs (but only for uninsured drivers claims)
  • taxi and transport cover from assessment centres or repair facilities to your home or work and then back again once the repairs are complete (max 2 journeys)
  • insurance covered for use of substitute car when car is being repaired, serviced or has had a mechanical breakdown
  • replace your car with another car, on the same terms and for the same level of cover for the remainder of the period
Just Car Insurance $306.00 - Excess Fee $1275
  • damage to another person’s vehicle or property (up to $20 million)
  • damage in a collision with another vehicle driven by an uninsured driver (up to $3,000)
  • towing and storage costs if the amount covered is not exceeded $3000 (above) (but only for uninsured drivers claims)
  • replace your car with another car, on the same terms and for the same level of cover for the remainder of the period

So for paying $50 extra i can get $250 excess less and some extra features, is it worth?? Or should I just stay with Just Car as my car is worths ~$1000

Automotive

Comments

  • dylanando on 09/03/2015 - 16:37
    +1

    Im with AAMI, They seem nice!

  • dbadcock on 09/03/2015 - 19:26
    +2

    Interestingly enough, I believe that Just Car Insurance uses AAMI as their insurance underwriters. (Same company?)

    To answer your question, you would have to do a mathematical equation, how many accidents would you presume likely? As an example, for myself I would go off 1 small bungle every 3 years. In that example - I would be better off paying for AAMI.

    Example over 3 years, with 1 claim in that period. Assuming premiums and excesses do not fluctuate.

    AAMI $2090 with 1 claim
    Just Car $2193 with 1 claim

    Obviously use a sliding scale depending on your presumed accident proned nature. For example, if you were planning on having an traffic incident this year - I would still recommend AAMI.

    However - If you were planning on driving ultra conservatively and say not looking at having an accident for 5 years.

    AAMI $2800
    JustCar $2805

    Almost any way you look at it - AAMI offers more value for money.

    • Euphemistic on 11/03/2015 - 13:26

      You plan on having an incident every three years? There are plenty of people around that haven't caused any damage to another vehicle or property in their entire driving career. If you are a confident and capable driver then you shouldn't hit anything. In my driving history (over 25 years) I've been involved in two crashes. One was my fault. I have had a few scrapes along the way, but they did not result in damage to other property worth paying for an excess. Eg rubbing a fence post, backing into a tree etc causing no/minor damage to my vehicle either.

      Over 25 years the $ difference is more significant, and would have saved the cost of one claim's excess.

      Just go with the cheapest - and don't crash.

  • spackbace on 10/03/2015 - 12:05
    -1

    Why bother having an excess that's more than your car, when CTP is provided with your registration?

    • simprosimple on 10/03/2015 - 13:49

      CTP is JUST cover for liability for personal injury or death.. NOT cover damage to another person’s vehicle or property

      • spackbace on 10/03/2015 - 14:28

        Ah k got ya!

        Bear in mind that you'll lose that annoying age excess in 2 years :)

  • altomic on 12/03/2015 - 22:51

    have you tried progressive direct?

  • Geewhizz on 19/03/2015 - 07:21

    Try NRMA they were far cheaper than any of those you mention when we were looking for insurance. Hubby bought a little diahatsu van for getting to work a couple of years ago, and for some strange reason, comprehensive was cheaper than third party property.

  • CMichael on 19/03/2015 - 14:02

    Have you tried RACV?

    Similar situation as you but younger and RACV was at least ~1k less than others for comprehensive. So i'm sure in your case wanting 3rd Party, there may be a significant difference!

  • nagel on 05/05/2015 - 14:36

    Try budget direct.

    I just did a quote online for my 98 ford falcon
    $169 annual for 3rd party insurance

    im 24 yrs old

Login or Join to leave a comment
Login Join