Say you pay CTP of $600 typically. There is question on have your licence suspecnded or demerit points in last 3 years:
a. How much would you expect premium to go up by if you lost say 5 demerit points?
a. How much would you expect premium to go up by if your licence was suspended or on restriced good behaviour condition?
Which will still be declined at time of claim once they find out who was driving it, regardless of who's name the policy was under. Don't do it.
CTP is a bit different. It covers other persons as long as the car is registered. It is applied to the registered owner.
I could register my car in a low risk bracket and get a low premium and if a young driver with bad history living in a bad area buys it, the CTP is still valid and they don’t need to pay for a higher CTP premium until rego renewal.
Except they weren't talking about CTP, they were talking about actual insurance.
Good point. However, it is reasonable to say person with suspended licence won't be driving for that 3 month suspension period. What about the period after that as you still need to say yes to question of "has your licence been suspended in last 3 years"
Get on the green ship website and put in your two examples.
Pick a car and put in a base line run with good driving record and 0 demerits. Then do one with 5 or more points and one with suspended license. That will tell you exactly what the price differences are.
I tried and it says "I dunno ask a bargains sharing website"
Good point
Comprehensive insurance for a $12000 car went down by $100p.a. When I for all my points back. Can’t comment on loss of license.
Your piece of string is this long. There are many variables to the way they calculate it.
Switching to someone else’s name would involve transferring the rego which would probably involve stamp duty - $$$
just curious, when transferrring rego is the stamp duty paid a fixed price? or a percentage of value of the car?
Percentage plus a transfer fee.
You'll need to speak to your insurance company.
And most likely they will cancel/not renew your policy.
Also, if you don't tell them and you have an accident, they will decline your claim once they find out.
But best you speak to them. Insurance is very individual and no one can say for sure, except your insurance company.
It is starting again,
People have forgotten how to spell Lose!!!
2nd time in 2 days
Lose points, Lose money, Lose the Game, Lose your innocence.
Loose Morals, Loose Belt, Loose fit, Loose not tight
OP needs to grab on to them more tightly… otherwise may fall out and then lose them.
I would agree tho, OP's language is a bit loose.
Cheers, I needed that advise…
I'm glad revisions are publicly viewable
Demerit points -> some insurers don't even ask
Lost license -> decline / price hike. Go try out the quote machines.
Insurers would probably decline to insure (reinsure) you given if your licence is suspended you are no longer legally allowed to drive the car.
If you are in that kind of situation you'd be best to insure your car in another driver/family members name till suspension is over, e:g Spouse or sibling etc.