Anyone know of a good insurer that's cheap? I haven't had it in 15 years, I'm 40 and the car is kind of old and worthless, but because it's been put on gas and because I've not had insurance in over a decade, some of the quotes are quite high.
Insurance, Cheap, 40s, No Demerits, but No Insurance in 15 Years
hamwhisperer on 30/05/2018 - 16:16
Comments
I'm not talking about $0 I'm talking about a reasonable figure, not $1000 per year for a 40 year old.
What level of cover are you after?
What car are you insuring?They are covering what you might hit and cars can be expensive.
$1,000 with no no claims discount sounds reasonable.
You can reduce the premium a little by opting for a higher excess.
Every year you hold insurance and don't claim will accrue a discount so only your first year will be quite high.
"$1,000 with no no claims discount sounds reasonable.
You can reduce the premium a little by opting for a higher excess."
That might be an option, I'll have to shop about, thanks
Why am I voted down for taking issue with such a dismissive reply to me?
You're not being downvoted for taking issue with the reply - that's fine. You're (likely? not by me) being downvoted for thinking that $1,000 per year in car insurance is unreasonable.
Budget Direct are cheap.
Claims with them may be relatively more difficult compared to AAMI.Compare:
Policy cost, excess, claim review procedure
I use Bingle. I have comprehensive, but as a guide, last time I renewed they were nearly half the price of Coles, NRMA and GIO (for the same excess and insured value)
Thanks - ever claimed with thhem?
I also recommend bingle - claimed with them no worries.
Yep - had 2 claims in 8 years (neither one at fault) and very happy with how they were handled.
Thanks, it was too cheap to pass up.
I have "Third Party Property Damage"
I hope that's the right one, is that the one where if someone else hits me and it's their fault, the car gets fixed?
Nope, that's the one where if you hit somebody and you're at fault you pay to fix them. There are very few circumstances where your insurer will pay to fix your car with TPPD only… (and it would entirely depend on the specific insurer, circumstances, and policy. Check your PDS.)
From Bingle's TPPD PDS… "We don’t cover legal liability:✘ if the property that is damaged belongs to you"
No wait.
I'm confused.If I hit someone, I pay my insurer and it covers the lot, because I'm an idiot, so if they have a 50k car with $9,000 damage, I only pay my excess, right?
I also pay out of pocket for my car costs (third party)HOWEVER,
If it's THEIR FAULT and they hit me, doesn't that mean I'm all good? They have to pay to fix my car? or is there 2 types of Third Party?
@hamwhisperer: Not through your insurance. If they're at fault, and you only have Third Party Insurance, then you'll have to depend on the other person to claim with their insurance, or you'll have to sue them directly.
If I hit someone, I pay my insurer and it covers the lot, because I'm an idiot, so if they have a 50k car with $9,000 damage, I only pay my excess, right?
I also pay out of pocket for my car costs (third party)You're the "first party" to a claim as far as your insurer is concerned. The insurer is the "second party" though you'll rarely see that term. The "third party" is anybody else. So in that scenario, yes, you'll pay your excess and the insurer will pay the remainder of the third party's damage. You'll pay out of pocket for your (first party) damage.
If it's THEIR FAULT and they hit me, doesn't that mean I'm all good? They have to pay to fix my car? or is there 2 types of Third Party?
If it's their fault and they hit you, you'll need to claim via them. If they're insured, you claim through their insurer. If they're not insured you claim / sue them for damages directly.
There is 3 types of third party, generally speaking.
Compulsory Third Party (CTP) - Injury liability. Varies from state to state.
Third Party Property Damage (TPPD) - Only covers damage to third party vehicles.
Third Party Property, Fire, and Theft (TPFT) - Covers damage to third party vehicles, as well as damage to your own vehicle from fire or theft.Always read the PDS available from your insurer, as cover and benefits may vary between insurance companies.
@HighAndDry:
Wait, you're kidding me? I thought your insurer assists with the collection of money for you?What likelyhood is there of someone NOT at fault, in a third party situation, getting their money back if the insurer is a bigger financial entity?
Is this a situation where filing a police report is totally needed after an accident in order to help you?
What likelyhood is there of someone NOT at fault, in a third party situation, getting their money back if the insurer is a bigger financial entity?
I can answer that.
I recently had a minor bingle and I thought I'd just try dealing with their insurance (AAMI) instead of claiming through mine.
It was quite straightforward, she hit me but told her insurance company that I hit her. I took photos of the damage and showed her insurer and they agreed it was her fault. They called me up, tried to convince me to use their repairer but I told them I prefer mine. Right now I'm waiting their call to tell me they got a quote and I can bring my car in. I suspect they're holding things up on their end to try to get me to use their repairer, as they promised I could bring it in immediately instead of waiting a week for the "necessary processes".
I asked about a hire car, and they immediately said they will cover that too.
@hamwhisperer: Only if you have comprehensive insurance. And in that case they give you money straight up, and then they go collect from the other party. If you have only Third Party insurance, then most of the time they'll only pay out to the third party if you're at fault, and if you need to claim anything from the other at-fault party, you'll have to chase that third party yourself.
Honestly, if they're really at fault, it's not too bad if it's fairly clearcut. Insurance companies are in the insurance business, not the legal business.
@CMH: Ok so it's not the end of the world, sounds like pics, very important - thanks.
I'm with "bingle" thanks to this thread.
Dashcam.
I had one to back up my claim if needed, but pictures was enough in this case.
If the damage was consistent with BOTH our stories then your story is that much harder to prove.
In any case, having more proof is better than less.
If someone else hits you, their insurance pays to fix your car, not yours. The difference in your own policy is who has to "do the legwork".
If you have comprehensive insurance, your insurer will pay you to get your repairs done, then chase the other persons insurer to get the money back.If you only have 3rd-party insurance, then it's up to you to do the chasing. So there may be a delay until you get the money or repair approval from the other party's insurer. (And if they are not insured, then you may have to take court action! This is one of the big advantages in having comprehensive insurance)
Third Party means not you or the insurance company (the first 2 parties), so it will pay to fix anyone else's property that YOU damage.
If the car's worthless just get third party property insurance. Was only about $350 or so last time I had it and I often only get Third party property.
I got lucky once re online quotes. I got quotes thru "compare the market" when I wasn't in a hurry, 3 or so days later I get an offer of $75 gift card if I took up one of the insurance policies. Made a competitive quote cheaper than existing one I had for renewal.
just try em all………..
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Iselect has had offers of up to $200 for buying insurance through them. They are a good option too.
car is kind of old and worthless
Third party all the way.
Thing is though, like I was seeing 400 vs 450 pricing for 3'rd vs comp.
I guess, once I click through all the crap, I'll see the real pricing and you'll be correct. It'll be $500 vs $900.
I will say, having my car destroyed and getting nothing, would suck.
They'd probably give you less than $1000 for it. If you manage to go 2-3 years without writing off your car, then write it off, it will be reasonably even whether you get comprehensive or not. It would only be cost effective to get comprehensive if you plan to write your car off in the next 1-2 years.
Unfortunately, you'll just have to grin it and bear it like everyone else when they first get a car - insurance will always be high, but it will go down over time. My suggestion is to do some shopping around.
Well, all the quotes are going to be higher than $0, if that's what you're used to paying.
It may take some time to just contact all they key providers, or going through one of those broker websites — but that should get you a good cross-section of the market.
Get insurance or don't — just please don't come to the OzBargain forums when you have a prang asking for advice.