What are your experiences with various car insurance companies?

lizzle on 27/05/2015 - 20:01
Last edited 27/05/2015 - 20:07

The reason why I'm curious is because I will soon be obtaining my first car, which will be a 2006 Mitsubishi Lancer, and hence will also require some sort of insurance for the car. I haven't decided if it's worth going for the comprehensive car insurance under my Dad's name (got an online quote for $~570 with $1000 basic excess with NRMA) or CTP/third party with fire & theft insurance (online quote of $290 with $800 basic excess from RACQ).

I've been reading reviews online for various insurance companies, and they all seem pretty mixed for all companies. Some people advocate companies like AAMI and NRMA because they're cheaper than other companies like RACQ, but then you hear about some of the horror stories associated with them (then again, you hear about horror stories from the more expensive/bigger insurance companies as well). Obviously I never want to have to make any claims, but I want to be with a company who will help me should the need arise.

I was just wondering:

  1. What car insurance company you're with.
  2. What level of insurance you have.
  3. Your experience with them, particularly if you've ever had to make any claims.

Also, if you guys wouldn't mind helping me make my decision -

  1. Is it worth it for me to pay the extra for comprehensive car insurance for a car that's worth 5-6k?
  2. Would you recommend that I max out excess to minimize premiums? I'm sort of on a budget as I'm a part time student still trying to get a job.
  3. Any suggestions you have for me regarding car insurance for a 21 year old driver with less than 2 years driving experience (as I realize those factors result in higher excesses/premiums depending on how I apply).
Automotive

Comments

  • tonyjzx on 27/05/2015 - 20:19

    stop right there

    $570 comprehensive under your dad's name is all you need

    i assume your dad is taking out the policy with you as a named driver?

    do this, forget the rest

    wouldnt chance 3rd party on a p plater

    • lizzle on 27/05/2015 - 20:26

      Yep, Dad's name with me as a named driver. Cheers, I probably will, but just wanted to explore the possible options anyway. Also wanted to hear if particular companies are better than others, especially if it pays to be loyal to a specific company. Thanks for your opinion :)

      • pjetson on 27/05/2015 - 20:53

        There will probably be an age excess as well, since you're under 25. Or is that already included in your figures?

        • lizzle on 27/05/2015 - 20:55

          Nope, that's not included in my original post. There are additional excesses which apply for being under 25 and having less than 2 years of driving experience, and they seem to amount to ~$1000. However that's not really anything that I can change between companies/between levels of insurance.

        • RockyRaccoon on 27/05/2015 - 21:44
          +1

          @lizzle: Frankly your survey of insurance companies here is going to be hit and miss. As you said all have someone who can bag the company, and there is no way you can tell. If it's all they say it is. Was it really the company or was it the person complaining. Likewise you get one here bagging XYZ and no one saying anything good. Where as ABC has 2 bagging and 4 saying it's good. Which is better?

          It may just that 6 here who went with ABC read your post and replied and 1 with XYZ did the same. And then the majority here like myself havent had to claim in 25 years so how can I tell you which of the 15 or so companies I have been with are any good. So, its no indication of who gives better customer service.

          Sorry that's reality and I know it doesnt help you. Maybe your family and family friends can help more. Cheers

          BTW many of the companies are controlled by another, Bingle is owed by AAMI, who is also owned by Suncorp, they also own GIO
          Real Insurance, AI Insurance and Woolworths Car Insurance are underwritten by The Hollard Insurance Company Pty Ltd.
          Dodo, Budget Direct, Australia Post, Virgin brands are underwritten by Auto & General Insurance Company Limited
          IAG owns Coles and NRMA, RACV SGIO

        • [Deactivated] on 01/06/2015 - 09:38

          @RockyRaccoon:

          Not sure if you factored this in when you say "underwritten" but almost all insurance companies have their own insurances for high cost events like the recent SEQ hail as well.

  • jzdhgkd on 27/05/2015 - 21:28

    I wouldn't recommend you max out your excess to reduce the premiums, however do play around with the sliders/values (assuming you're getting an online quote) to get something reasonable. When I was getting quotes there were diminishing returns, e.g. it would be an extra $1000 excess but only to save $20/year on the premium etc.

    Even if you didn't change anything the original quote for comprehensive was extremely reasonable and I wouldn't hesitate to pick up that policy.

    • lizzle on 27/05/2015 - 21:40

      Whoa, the premium was reduced by such a small amount in your case. I initially got a quote for ~$630 with $800 basic excess with NRMA, then tried the next level up of $1000 excess. I'll definitely play around to see what gives the best value. I have also heard that you can get differing quotes at different times of the year, so I'm trying to figure out if it'll go up or down in the near future.

      • jzdhgkd on 27/05/2015 - 21:44

        Haha I'm sure it wasn't as much as what I said, I was just exaggerating a bit ;)

        All the best!

  • RandomNinja on 27/05/2015 - 21:30
    +2

    I had a terrible experience with AAMI Bella Vista service centre that made me switch insurers. Had comprehensive insurance with them >5 years with no claims, got rear ended and finally had to make a claim. It was all going smooth until it came time to pick up the car. After inspecting the car, workmanship on the repair was pretty shoddy - misaligned panels, rubber seals not put on properly, decal was removed from a panel that didn't need repairs and a minor but annoying thing - a CD was stolen from my car (was in the player, forgot to remove it).

    Faults most likely lay with whichever bodgy contractor they used, but the thing that made me switch insurers was the AAMI guys not giving a toss that the workmanship was terrible or that my personal property had been stolen. All they made was excuse after excuse or trying to tell me it was all within tolerances. After escalating to Fair Trading, they finally fixed all the issues and reimbursed me $20 for the CD.

    • lizzle on 27/05/2015 - 21:37
      +1

      That sounds terribly bothersome. It seems like AAMI doesn't allow their customers to have work done by their preferred repairer - rather you're required to have all issues worked out by their contracted repairers. Seems like a lot of people have had similar experiences to you, so I'm definitely crossing AAMI off my maybe list.

      • NancyCat on 28/05/2015 - 09:29

        Yep…that's us.
        Few years ago, our car (which was parked outside our house at the time) was hit by a Coles truck. It was so badly damaged that it needed to be towed away. When the tow driver arrived and found out I was fully insured with AAMI, he just shook his head and told me to change insurer when I get car back, he said 'anyone except AAMI!'
        Surely enough, AAMI was terrible handling the repair. Delay after delay, AAMI basically took our car away for a month. When the car finally came back, the car looked all beautifully fixed from outside, however when driving it, it was not-quite-right. We knew that complaining to AAMI would get us nowhere, we just couldn't bare to deal with AAMI anymore, so we had to sell the car.
        So…stay away from AAMI.

        • ilikeradiohead on 28/05/2015 - 13:56

          Oh my I didn't realise it was an AAMI issue :/
          My car was broken into and the jerks stuffed up the ignition. Got the car towed to a repairer (which AAMI took forever to pass on the information about to me) who then ordered a lock from France (I have a Peugeot) which took 6 weeks to arrive. I was really annoyed at the lack of information from AAMI so I vowed to ditch them when my renewal came up, and I did.

        • xuqi on 28/05/2015 - 15:50
          +2

          @ilikeradiohead:

          Yes, their jingle should realistically be; "Unluckkkyyyyy, You're with AAMI".

        • bowdo on 28/05/2015 - 23:00
          +2

          @ilikeradiohead: A friend has his own bad experience, his parked car was hit by a runaway car on a hill (left out gear, handbrake not applied properly). The other car was also insured with AAMI.

          The auto gearbox played up as soon as he got it back and AAMI claimed it had nothing to do with the accident.

          Apparently the way they work is a number of repairers 'reverse bid' to win the repair contract, ie, one says $10k, another $9k, and then some dodgy repairer will bid $6k and win it. They then do a crap job, don't fix everything (through either incompetence or shiftiness) and claim any further problems [they didn't quote for] were not caused by the accident.

          I wouldn't bother with them for anything other than 3rd party tbh. I'd go with a company that allows you to elect your own repairer for a car you care about. (family car is with RACV)

    • CacheHunter on 29/05/2015 - 12:17

      Just to show that everyone's experience is different, I've got nothing but praise for aami (been with them for more than 10 years, before that, RACV, NRMA amd GIO).

      I've had a few claims with aami over the years (only one at fault), and have their top rating and loyalty status. Every time I've found their service outstanding - they take the car away and take care of all of the messing around and given me a free or subsidised rental car. On the one occasion the repairs weren't up to standard, they were apologetic and went out of their way to sort things out with the least inconvenience for me.

      I'm not sure if it depends which of their repair depots you deal with as I've also seen complaints about aami - they just aren't consistent with my experience.

  • MrHyde on 27/05/2015 - 21:40
    +3

    I've been with RACV for about 15 years now and have only good things to say about them. Over that time, I've made about 10 claims - 3 my fault and the rest others. In each case, the claims process was easy and flawless, the workmanship in the repairs was all good and have never had any issues.

  • dylanando on 27/05/2015 - 22:17

    Was with AAMI for a few years, Paying roughly $197/pm and came to renewal and they shot it up to $290/pm.. Nty for $13k comprehensive. Now with bingle and insured for $42k and paying $90/pm and im 19. Never claimed but lucky your dad allows you to be under his policy :P. Good luck!

    • tonyjzx on 27/05/2015 - 22:37
      +1

      $3,840 for insurance

      wtf are you driving and what are you doing thats causing that?

      • dylanando on 27/05/2015 - 22:39

        Was driving a ve! Was cheapest around aswell!

      • [Deactivated] on 28/05/2015 - 12:28

        Also, is 19, male P-plater (?) with < 4 years driving experience.

  • ntt on 27/05/2015 - 23:30
    +3

    Little off topic, sorry OP.

    I was with AAMI for ~$659 last year, went up to ~ $800 this year for the renewal. I tried to play around, RAA and YOUI (saw ad on TV). Did a quote online for YOUI and got a call after finished the quote online 5 minutes later. I told the lady on the phone (YOUI) that I the mainly thing want to switch is the premium went up and I don't like it. She said no worry and would give me the best thing she ever made, she even advice me to cancel the Road service which I am with RAA and switch to her company. Received an email with a lovely quote which is ~ $1062. One word, RIDICULOUS!! I called back few days later to cancel and talked to a guy who spoke so fast like he had diarrhea and after that he promised to reduce the price that suite me, then I received another lovely email which had the quote of $1031. I felt angry and called again, this time another lady but I felt she has good experience and she also told because of the inexperience employees that caused that and she could do much better. But no, I got too much bullcrap and firmly denied it.

    Played around with RAA and AAMI, THIS time AAMI gaves me low price, only $719 include windshield cover, because I answer my last Insurer is RAA. Lessons learned, the more you loyal to them, the more you get rip off! 2nd thing, shopping around, playing around with questions to get the cheapest price.

    • nickj on 28/05/2015 - 14:49
      +2

      Yeah I found YOUI was the most expensive (nearly 3x the lowest quote, and 2x the next most expensive). The complete opposite of their ads suggesting that they save people money. I also disliked that they call you rather than just giving you the price online, because you waste 10 mins with them on the phone after filling in an online form. Total waste of my time, and I won't bother getting a car insurance quote from YOUI again.

      The cheapest for me (as a > 30 year old NSW driver) was Coles car insurance (after using their price match guarantee), followed by Woolies car insurance, and then AAMI (previous insurer), and then NRMA were not too far behind. I decided to change away from AAMI after reading about problems on OzBargain with the quality and time taken for their repairs.

    • gotcha on 28/05/2015 - 22:42
      +1

      exactly, regardless whichever insurance company, never renew without shopping around first. none of them intend to reward customers for royalty, they just treat it as any opportunity to rip off existing customers.

  • GnarlyKnuckles on 28/05/2015 - 00:07
    +1

    We switched from AAMI to Bingle a couple of years ago (comprehensive insurance), cause it was hundreds of $ cheaper. Soon into the second year, the wife pranged into a Merc. Happily, I can report that Bingle were absolutely faultless, re everything that ensued. They used what I thought seemed to be a pretty up-market repairer, and they even fixed some stuff that they knew/ was obviously prior/old damage (I'm talking stuff that would've cost about $1000 to have fixed). Really brilliant. I thought they'd ramp up the cost of renewal this year, but they did not; it was much the same as last year. I was so impressed with how they dealt with our claim that I tried to change our home/contents insurance over to them, cause I kinda 'wanted to give them more money' (not a good way of wording it, but you get what I mean). Unfortunately they don't do home-n-contents though.

    Anyways, if it's an option I highly recommend Bingle. And one other thing I'd recommend, is insuring it for 'agreed value', not some nebulous value based on god-knows-what. And for that value, specify whatever it would actually cost you to buy another car like the one you have, or that amount plus the applicable excess. That way if you write it off (god forbid), you'll be able to 'make yourself whole' again at no real cost, but if you don't write it off, you won't be paying any more than you need to each year for insurance.

    • Malarkey on 28/05/2015 - 13:45
      +1

      Bingle and AAMI are brands of the Suncorp group. So technically you're giving the same company your money ;)

      • GnarlyKnuckles on 28/05/2015 - 18:56
        +4

        Just a whole lot less of it :)

  • Tcm9669 on 28/05/2015 - 07:50

    I'm with CommInsure paying around $1091 - I'm listed as main driver and under 25 for a 2013 Mitsubishi Lancer insured on Agreed Value. They do put down the value and up the premium after first year, but I called up and they discounted it back to original price. However, not sure what's going to happen this year, I will be receving their renewal letter soon.

  • ItsMeAgro on 28/05/2015 - 09:43
    +6

    1. You have to get CTP, the C stands for Compulsory

    2. $6000 car? $600 a year with $1000 excess? If you absolutely can't afford to lose that car no matter what - can't get a loan to replace it from parents or a bank - then you have to insure it.

    But… otherwise, insurance is a bet. For 600 a year on a 6k car, you're literally betting you'll write it off within 10 years. The insurance company is betting you won't, otherwise they lose money. And they are much better at calculating the odds than you are. In the end, they don't lose money, they make a healthy profit.

    When my last car hit 5k in value, I stopped paying the 700/year premiums and saved that money. It was a small risk, but it paid off - by the time that car died, I'd saved about 5k by not paying insurance.

    If you can afford to gamble, "self-insurance" can actually be a safer option.

    • RockyRaccoon on 28/05/2015 - 09:53
      +7

      You forget to mention the need for third party property insurance. CTP only covers damage to people.

      You only save the difference between full insurance and this third party property insurance. (3PPI)

      If you dont have 3PPI and hit another or a number of other cars, houses etc you have to pay for the damage to those, AND that could be extremely high

      NOT a GOOD bet at all

      • Gotchas on 29/05/2015 - 13:10

        Unless you are bankrupt

        • RockyRaccoon on 29/05/2015 - 17:16
          +1

          True, and if you arent you may well be afterwards… I dont think thats what the OP had in mind.

      • GnarlyKnuckles on 03/06/2015 - 01:01

        "NOT a GOOD bet at all"

        Yeppers, it's a particularly bad bet for a relatively young driver. The fact is that most newish/youngish drivers will prang into something, in the fullness of time… what that something is worth/costs to replace, is highly unpredictable.

    • ilikeradiohead on 28/05/2015 - 14:30
      +2

      Insurance purchased from a company is not actuarially 'fair' because of the overheads that come with buying it, so depending on your risk profile (which also suffers from information asymmetry on part of the insurer) insurance will never be worth it for everyone (combined). However, individual circumstances differ, and many people are willing to pay $x per year to ensure that they do not lose the cost of their entire vehicle.
      Not me though :)

      • cktftw on 28/05/2015 - 15:57

        I hope you at least bought 3rd party

        • lizzle on 28/05/2015 - 16:39

          I thought everyone had to at least have compulsory third party insurance.. Unless that differs between states in aus?

        • ilikeradiohead on 28/05/2015 - 17:04
          +2

          @lizzle: Compulsory third party is different, is really is compulsory. Optional third party insurance is for property damage, whereas CTP is when someone is permanently disabled or killed.

        • cktftw on 28/05/2015 - 18:33

          i.e. if he crashes into your car, unless you have comprehensive insurance, you'll have no one to claim from for your vehicle damage

    • virhlpool on 10/07/2016 - 16:35

      You mean just buy third party and not comprehensive, OR not even third party?

  • Aust on 28/05/2015 - 09:49

    "i assume your dad is taking out the policy with you as a named driver?"

    Be very careful doing this. If you own the vehicle and it is registered in your name your dad cannot take out the policy as he has no insurable interest.
    Best option is to put him down as a named driver which might reduce your premium.
    My 21 year old who got his license in September 14 just insured his 2008 lancer with Suncorp for $99 per month with a $675 basic excess including windscreen cover.

    • lizzle on 28/05/2015 - 16:45
      +1

      Edit: woops, was meant to reply to comment below.

      Yeah, the more I think about it, the more it seems like comprehensive car insurance just isn't worth it for me, at least not with the companies I've looked at so far. If my car is worth 5-6k, and I pay ~$570 premium with $1000 basic excess + $1000 age & inexperience access, it just seems like too much to pay compared to the price of the car. I'm currently leaning towards getting third party property or third party, fire & theft insurance.

    • lizzle on 28/05/2015 - 16:47

      Thanks for informing me about the rego. Had no idea it would affect the insurance like that! Cheers

  • ramshead on 28/05/2015 - 10:09
    +2

    Be careful with the age and inexperienced driver excess. My 2005 falcon is comprehensively insured (this will be the last year for that). If I have an accident, I will pay $800n excess. If my 19 year old (named driver) has an accident the excess will be $800 plus $1600 age excess : total excess $2400. The car would be lucky to sell for $3000. If my son wrote it off, after excesses I might pocket $600, which is pretty close to the annual premium.
    Also note that it is very important to be honest with your CTP insurance. When I told the company (NRMA) that a young driver used the car, the premium went up $200. That hurts but CTP insurance could need to cover you for millions ( tragic as it is, consider life long care for a quadriplegic).

    • love2buy on 29/05/2015 - 18:57

      If it was your fault are u required to pay excess for other party?

  • ilikeradiohead on 28/05/2015 - 14:20
    +1

    As mgowen said above, self insurance is also a possibility. Essentially it means that you don't take out insurance with a company, but then you're banking on the fact that you won't have anny issues/accidents. Insurance is only needed if you cause an accident, or if you can't identify the perpetrator (eg if you car gets broken into). The problem with the latter is that your excess may be $500 for a $500 job, meaning your insurance has no value, and you also lose out on control of how your car is repaired. If someone causes an accident with you, they are liable for your repairs. The insurance company just makes it easier to deal with, but the at fault party pays for everything.

    Everyone self insures to some extent. If you increase your excess for a lower premium, say by $300 for a $50 saving, you're in effect self insuring yourself by $250.

    After spewing about having to pay $700 insurance with a $650 excess last year, I ditched it. If I have any problems, or 'crash into a ferrari', that's my issue and I will live with the consequences.

    If you do go the route of insurance, be wary with checking those comparison websites, as they often don't cover every possible insurer, often only the ones which pay commissions. (see this comment to see what I'm talking about)

    • virhlpool on 10/07/2016 - 16:38

      After spewing about having to pay $700 insurance with a $650 excess last year, I ditched it. If I have any problems, or 'crash into a ferrari', that's my issue and I will live with the consequences.

      Ths bigger question is HOW will you live with the consequences as they are quite severe.

  • raffaharley on 28/05/2015 - 16:01

    Go for an insurance company where if your using your dads insurance that you also gain no claim bonus over time so when the day comes for you to get your own insurance you can reduce the cost with this no claim bonus.
    For me I have found NRMA to be fantastic, especially if you have other insurance with them like green slip…you get extra discount. Also friends of ours were driving my car and they had an accident in it, all I did was call NRMA and there were no issues at all..it was all sorted out without any questions asked. I couldn't recommend them enough.

    • compugrid on 28/05/2015 - 20:29

      How much do you pay for it? IMO NRMA is the most expensive

      • raffaharley on 29/05/2015 - 10:47

        I pay about $750 for a 2007 car with an agreed value of 15K. Ive got 60% no claim and green slip and home insurance discount. I thought it was a lot at one stage but then I rang around and most other reputable insurers were really no better or more expensive. The one that suprised me the most was youi. After putting in all the information…and I only drive the car occasionally and its garaged…they still came out much more than NRMA. I suppose they would be good if your only insurance was for a motor vehicle. Still for me NRMA is cheaper and I was more than impressed with their service. Personally if the level of service I experienced is normal then I would be happy paying a little more knowing that it may actually work out better maybe cheaper by avoiding hassles further down the track.
        Apologies I know its against the moral principles of an ozbargainer to pay more, but I thought to lay it on the table.

        • compugrid on 03/06/2015 - 21:31

          750 is not expensive. Will try them. Thanks

    • compugrid on 28/05/2015 - 20:29

      dup.

    • compugrid on 28/05/2015 - 20:29

      duplicate

    • compugrid on 28/05/2015 - 20:29

      Dup

    • compugrid on 28/05/2015 - 20:29

      dup

  • cktftw on 28/05/2015 - 16:18

    Anyone with experience with SGIC?

    Tried looking for NRMA in SA and I get "redirected to their sister site SGIC"

    • kimmylala on 29/05/2015 - 22:23

      Sgic,nrma, sgio & racv are the same company, just different names depending on the state

  • x2r9ypbj on 28/05/2015 - 16:43

    SOME OT THESE INSURANCE COMPANIES ARE NOT WAHAT THEY SEEM TO BE.WHEN YOU SIGN UP THEY OFFER DISCOUNTS NO CLAIM BONUS REDUCTIONS ECT
    WHEN HOWEVER YOU HAVE AN ACCIDENT THINGS ARE NOT WHAT THEY SEEM TO BE.ALWAYS GET ANY CAR INSURANCE IN WRITING TO COCER YOURSELF

    • lizzle on 28/05/2015 - 16:48

      Are you writing this based on personal experience?

      • McFly on 29/05/2015 - 00:14
        +7

        I think they're writing it based on their caps lock being stuck…

  • MetalPhreak on 28/05/2015 - 17:34

    My only advice to that when they send you renewal notice shop around again. I stuck with rac but got a better quote with a new application online…

    I've never had to claim in my 10 years of driving so I can't comment on the claims process.

    Also, if it's going under your dads name on the policy, does he not need to be the registered owner of the car?

    • lizzle on 28/05/2015 - 18:20

      Yes, someone pointed that out earlier about the registration. Luckily I haven't taken over ownership of the car yet, so it's not too late to have dad as the registered owner of the car. Would you happen to know if the name of registration is very important (for things besides insurance)??

      • MetalPhreak on 30/05/2015 - 16:31

        If you go to sell it or trade it in, you'll need your dad to sign over ownership.

        Any speeding fines you get will be sent to him under his licence because he's the registered owner. He'll need to fill out the nominated driver section to transfer infringements to you.

        My first car was in my dad's name for 5 years and it never caused me any hassles. Just had to get him to sign a form when I traded it in to buy my second car (which is in my name).

        If I remember correctly, if he changes ownership to your name in the future, you still have to pay stamp duty again as if you bought it from him.

        Premiums also drop massively once you hit 25. BF Falcon XR6 in my dads name with me as main driver was ~$1100 per year. Now I'm >25, FG XR6 Turbo with RAC is ~$800 per year with a ridiculously high agreed value and $800 excess. Turbo and under 25 is ridiculous for insurance.

  • Aust on 28/05/2015 - 18:11

    You need to have third party cover in case you hit someone else and the difference between third party cover and comprehensive cover can sometimes be only a few hundred dollars, so if your at fault and have to fork out the age and basic excesses you might as well get something back for your own car.
    at least consider comprehensive cover for the first 12 months.

  • wheretobuychocettes on 28/05/2015 - 18:33
    +2

    Shannons Insurance (limited use 1-2 days a week comprehensive 2006 WRX and a daily third-party 2001 Impreza RS). Am now 24 (25 in November) and paying around $1,800 for this per year (will go down after I am 25). No claims.

    Previously had third-party insurance with Just Car (AAMI) for another car and when someone hit me last year, was a real pain in the ass. The other people, though clearly at fault, claimed that I was speeding (impossible given the circumstances), and then later changed their story to something else, etc. Just Car did very little to aid me, as I had only paid for third-party; frustrating but fair. After 9 months and the other people changing addresses (not even lawyers could help without spending thousands), the case was closed and my car not repaired as a result. At least I didn't have to pay anything for their car, which they got repaired through their insurance and left me high and dry…

    As long as you are listed as a driver when taking out insurance under your dad's name, you should be sweet. Some insurance companies base their charges on the most risky driver, so you may not be saving much/at all by using your dad and listing yourself anyway. You must list yourself though, or if you have an accident and are at fault, you may find they void your policy entirely, no good to anyone.

    Just because you have third-party doesn't mean you're "in the clear" unless you are at fault. My case in point just above.

    It might suck to young drivers working casually and going to uni full time, etc. but if you truly need your car and would be quite screwed without it; get comprehensive. If you can live with losing your car and getting little/nothing for it, then go third-party. These are your worst case outcomes, but should be considered.

    Was speaking to a well-respected and high quality panel beater who said all the insurance companies that keep claiming they're the cheapest and you can save X-hundred dollars guaranteed have essentially ensured that any cars being repaired by these companies are doomed to be repaired poorly. They cut costs on repair jobs (almost never do you get a job-list detailing what was done on your car, all you get is the keys back) and pass these savings to you year after year when you renew your insurance. So, sure, you pay $200 less per year, but when it comes time to have work done on your car, they'll send it to their closest (to you) and cheapest (to them) place for sub-par work.

    All things to consider. Good luck.

  • [Deactivated] on 28/05/2015 - 22:18
    +1

    What car insurance company you're with.
    I'm with RAC
    What level of insurance you have.
    I have comprehensive car insurance
    Your experience with them, particularly if you've ever had to make any claims.
    Had an accident where I was not at fault. I called them up, they sent a tow truck, and fixed my car. They wouldn't reimburse my phone call to them which cost me $43 though.

    Is it worth it for me to pay the extra for comprehensive car insurance for a car that's worth 5-6k?
    I think it's good

    Would you recommend that I max out excess to minimize premiums? I'm sort of on a budget as I'm a part time student still trying to get a job.
    I maxed my excess to reduce the premium.

    • ankor on 29/05/2015 - 18:43

      Haha true ozbargainer, asking for phone calls to be reimbursed. Love it.

    • ItsMeAgro on 30/05/2015 - 14:22

      …OK, I give up. How come the phone call cost $43?

      • gotcha on 30/05/2015 - 19:03

        not surprised if you call on your mobile and have to wait for some 20 minutes before any operator is available

  • McFly on 29/05/2015 - 00:15

    Was with RACV, now with youi - much cheaper.
    Made claims with both and they were both as easy as can be - repairers offered happened to be who I wanted anyway.

  • Scorpiogirl on 29/05/2015 - 05:06

    If you register your car in someone elses name they are the owners and responsible for the car. Any communication/information about the car like rego will be addressed to them. Other things like toll notices and fines are recorded by the license plate which links back to the name of the person on the registration. Something to think about perhaps if you don't want your father to know everything about you. Just saying :)

  • rickxs on 29/05/2015 - 11:17
    +3

    Just renewed my MY15 Kia Cerato with Budget Direct —-market value. but has 2 yr new car replacement for, get this

    $277 Full Comp &&& $100 eftpos card = net $177 for a 20K car full no claim & less than 5000km travel per year

    wifes 2011 gen 2 $209 [ag val $10500 ] AAMI BD was $331 for 10,000km a year

    was with YOUI
    Kia $440
    Gen2 $290

    • [Deactivated] on 29/05/2015 - 11:18
      +1

      Wowowow, that's a superly good deal!

      • ItsMeAgro on 30/05/2015 - 14:23

        Yeah, as long as they actually pay any claims. I avoided them because of the ads but I might check them out…

    • colaman on 30/05/2015 - 20:19

      +1 for budget, they were fast with claim I had a few years ago, was the cheapest and repair was quick to take place. Signed my wifes car up today for cheapest. Avoid coles car insurance. Still waiting car to be repaired from 2 months ago with hail damage, they are bad communicators.

    • Banana on 09/06/2015 - 21:23

      I have to give Budget Direct a no. Dad's van was with them, got into an accident and took multiple phone calls for them to organise a repairer and quote etc. Dad is usually a patient man but he was pretty frustrated with Budget Direct in the end.

  • rickxs on 29/05/2015 - 11:22

    you need to go through a quote with compare the market to be aware of it
    make up a temp email & phone unless you want to keep the quote for later

    I followed up this morn & its all done for renewal june 25th

    http://s16.postimg.org/myho2ifcl/kia.jpg

  • rickxs on 29/05/2015 - 13:40

    I just rang Youi to cancel & got the usual speel- but ended up leaving the Gen2 with them at $145 :$10500 agreed value, thats 1/2 the renewal figure above

  • love2buy on 29/05/2015 - 19:06

    This might be off topic but is there an app that list the premiums of all cars so i can shop for a car with the lowest premium given my circumstances.

  • [Deactivated] on 29/05/2015 - 23:12
    +1

    Call a smash repairer they will tell you Allianz are the least dodgy by far.

    • nikey2k27 on 30/05/2015 - 11:58
      +1

      Allianz pay most to repairer well others try get cheep as possible.

  • wonderboy on 30/05/2015 - 13:15

    I recently bought a car and am currently with GIO comprehensive for $185/month (under 25 and had 1 unclaimed accident). Still in the cooling off period so I am looking for a cheaper option.

    Bingle - $120

    AAMI - $135

    Budget Direct - $130-40

    Youi - $180

    Excess is all roughly the same around $1100-$1200. I'm leaning towards Budget since I can pick my repairer but it's Market Value instead of the $17000 Agreed value for the others.

  • ankor on 30/05/2015 - 14:59
    +1

    This is actually a bit of a difficult question due to the age of your vehicle, your financial circumstances, and what the market value of your vehicle will be.

    Lets say you buy comprehensive, then some policies will give you one free windscreen repair per year (i.e. no excess applies).
    If there's a light bingle, then you pay the excess and a repairer will fix it since it is presumed that the excess will be cheaper than the repair cost.
    If it's been a declared a total loss, then you get paid out per your policy.

    However, if you are ramping up your premiums so it is going to be $1000 or thereabouts for your excess, then you may find yourself in territory where a repair to the car that's worth paying that premium may actually render that vehicle a total loss. (e.g. - repair estimate is 3,500.00 and the market value of your vehicle after 2 years is $3,900.00). On the flip side, the high cost of your excess will mean that anything up to $1,000.00, you won't be claiming on your insurance policy..

    example total loss settlement:

    market value $3,900.00
    excess $1,000.00
    settlement: 2,900.00

    The market value of your vehicle is a floating point value based on historical data that is sourced by the insurers from a variety of different sources (e.g. glasses guide, carsales, gumtree, trading post). The only certainty is that each year, the market value of your vehicle goes down due to depreciation on your vehicle and general wear and tear. If you are paying your premiums yearly, you will find that you don't get a refund on that premium if that vehicle is a total loss. Not only that, if you are paying your premiums monthly, then they will expect you to pay the remainder of your premium as well in the event of a total loss.
    The other hidden trap is that some insurers, such as AAMI, will also retain the ctp/rego that was remaining on your vehicle in the event the vehicle is written off.

    With all of this in mind, I am not certain if comprehensive insurance is the best way forward for you in your situation because you may be paying anywhere between 600-800 per year in premiums for a vehicle that, if considered a total loss, ends up being anywhere between a $2500-$4000 dollar payout.
    If you get ctp + third party/fire/theft, you may find that far more economical over the next few years as you will be able to save more for other things such as another car, a trip overseas, or just plain old textbooks for uni :S

    • frutter on 14/06/2015 - 15:21

      Seem like you know alot about this stuff,

      I am looking to purchase CTP and comprehensive soon;

      I have got quite a few quotes on CTP and it varies from $450-$900
      should i just go with the cheapest, i know the coverage might be less but what other things come to mind if I go the $900 option compared to the $450 option

      Also my father is with NRMA for more than 20yrs already…anyways they ask the age of the youngest driver, If I dont list my age but list his instead do you know if they would still cover me (I save $250 by doing this). I know they still cover anyone who drives the vehicle but does that apply to CTP as well?

      PM me if you like

      • ankor on 14/06/2015 - 17:38

        Hi frutter,

        The only way to truly be informed about these products is to read them yourself or go through an insurance broker to ask the questions that you need answered. You can use my post as a template for the types of questions you have to ask though.

        While I've had a few dealings with insurance, and currently work for an insurer, I am by no means an expert on the products across different companies, and how the policy wordings apply for each product (or type of product within each company).

        Good luck :)

  • User_153999 on 15/06/2015 - 16:37

    Im with RAC as they are the only one i could find who would cover international student with international driving licence(RAC policy says: Valid licence to drive in WA, other says: Australian driving licence.) . I cant say much about them as i haven't had any issue so far and never claimed anything from them. Paid around $700 for comprehensive for $25k coverage(Im on 5 years no claim bonus:)).

  • jerjergege on 28/11/2015 - 21:20

    I need help, I just bought a new car, I'm 23 now but got my license at 21 (straight to green P's).

    The car is a Honda Civic MY2015 VTI-S Sedan and the premiums are around 2.1K with excess at 750 basic + 500 inexperienced + 500 for being under 25.

    Is it better to do market value or agreed value, and so far using compare the market, the best deal is probably with Australia post gold.

    It's so hard to pick, any advice?

  • x2r9ypbj on 29/11/2015 - 09:26
    -1

    I SHOPPED AROUND LAST YEAR WHEN I BOUGHT A NEW CAR CAPTIVA FOUND THE BEST INSURANCE FOR MY CAR
    WAS COLES INSURANCE.A LOT CHEAPER THEN THE SO CALLED LARGE INSURANCE COMPANIES.
    SAVED A LOT OF MONEY YET STILL GET MY COMPRE/INSURANCE WITH ALL THE EXTRAS.
    THE LARGE COMPANIES JUST RIPP OFF THE AVERAGE MOTORIST.

    • Baysew on 29/11/2015 - 09:35

      THE LARGE COMPANIES JUST RIPP (sic) OFF THE AVERAGE MOTORIST.

      Actually, the "so called large insurance companies" might just target below average posters, that leave CAPS on.

Login or Join to leave a comment
Login Join