Car Insurance for P Plate Driver

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  apple2016 on 09/11/2016 - 22:57

  I would recommend third party. It does not make sense to pay $1000 in insurance for a $6500 car.

  • 

    iand on 09/11/2016 - 23:20

    +1

    unless you have an accident :)

    • 

      altomic on 10/11/2016 - 01:35

      +1

      true, but if the damage is significant enough, and the car will cost more to repair than it's worth, then the insurance company will have it written off and then will pay out market value for the car.

      also, currently the car is worth $6500 and it's a 2006. obviously every year it gets older and it's value drops. should you continue paying $1000 to insure it?

      OP - check out coles insurance and progressive online.

      I'm assuming (based on my experience) that as you have no driving experience then you are more likely to make silly mistakes driving or parking. your car will probably get scratched/damaged and it's value (for resale) will drop more. treat this car as your learning/practice car.

      personally I'd go 3rd party. and put the difference in costs towards saving for your next car when you choose to buy one down the track

      • 

        jimmmyangddk on 10/11/2016 - 08:21

        Hi, thanks for your suggestion. But the third-party from coles and progressive is more expensive than AAMI.

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  kerfuffle on 09/11/2016 - 23:22

  +1

  Comprehensive is good for when people run into you and cause an accident but don't have insurance. If you have comprehensive, then you can just get your insurer to deal with it. You can also add a hire car option. It saved me twice last year when I had two not-at-fault accidents.

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  foxmulder on 10/11/2016 - 07:43

  Bingle was meant to be budget insurance for Suncorp but when I checked Suncorp same time last year Suncorp was cheaper than Bingle.

  • 

    jimmmyangddk on 10/11/2016 - 08:23

    Just checked Suncorp, but it is much more expensive than Bingle; $1000 and $400 for 3rd party.

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  [Deactivated] on 10/11/2016 - 08:01

  +2

  I've used bingle for a number of years, had to make one claim on my policy and it was fuss free. No choice of repairer but where they sent me to did a first rate job

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  djdwyer on 10/11/2016 - 08:38

  Consider also what would happen if you had third party insurance only and an uninsured driver damaged your car?

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  djsweet on 10/11/2016 - 09:06

  $1000 to insure a $6500 car is nuts. Conside the yearly rate, and the excess and the fact that the car value will decrease every year. Then you will probably find that if you will need to claim a full write off within the next 3-4 years to break even. Personally I would go third party.

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  lupiter on 10/11/2016 - 09:27

  While on my P-plates, I only had 3rd party plus fire and theft, because the excess on comprehensive made it not worth while. The "Inexperienced driver excess" is the amount you (as an inexperienced driver) have to pay up-front before they start contributing. Definitely look at it carefully, as it often applies on top of the regular excess.

  Looking at Bingle a typical excess is $650-$795 (let's take the lower value) and the age excess (if you're under 25, I'm guessing you are?) is $600. So that's $1,250 you'll have to pay upfront before the insurance pays anything. Ouch! If you do damage less than that, it won't be worth claiming.

  • 

    kerfuffle on 10/11/2016 - 09:35

    Don't forget that a young male driver's excess is often more expensive than a young female driver's excess due to statistics

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  voiletmay on 10/11/2016 - 10:29

  +1

  But you still need to have a car in case of an accident. My two P plate drivers (daughters) have $7000 cars and fully comprehensive insurance (including hire car option) - one with suncorp, one with racq (much cheaper than suncorp). One of my daughters cars got hit in the rear while at a roundabout, so was very glad to have a hire car while it was getting fixed.

  Just pay monthly and deal with it, that is our theory.