Why Don't You Have Car Insurance?
What do you do with the money you save?
Will you post here for help when you crash?
Why Don't You Have Car Insurance?
deme on 11/03/2021 - 11:34
Comments
Is your friend an idiot in general?
The answer may not surprise you.
Huh
Plenty of stupid people in the world. It's how rich people make money. Then the stupid people complain that the rich people are rich.
*third party property car insurance
I'd hate to think what will happen if he hits an expensive car one day.
I'm worried about him killing someone one day
I guess he'll eventually learn his lesson that paying ~$150pa
Where are you getting 150 from??
Roughly the cost of cheap TPP insurance.
No I just checked and it's more than double that.
As usual people let their personal beliefs (which often come from no where scientific) to complain about random other people in anecdotal references
@johnno07: I checked compare the market for nsw and it was at least 370. And 800 excess is on the hight side
@Jackson: i heard off the grapevine that insurance cost depended on things like make/model, location, market price, among some other things apparently
shocking if true
@highdealer: The call was around 150, I don't care where you live in Australia, it's ain't 150. 200 is 25% more, and this is ozbargain. Paying 1k or more in excess is excessive (pun intended). If people are going to make a call they should back it up.
@Jackson: $200 is actually 33% more than $150. But it's still only $200. When I was driving a shitbox that wasn't worth comprehensively insuring three years ago it was $148 for Bingle TPP in Brisbane City (with $800 excess). And the excess is not excessive if you think the risk of an an accident is quite low, and you just want to insure against being out of pocket your life savings.
@johnno07: The only problem here is the city you chose. Select Sydney or Melbourne City and you will see rates no where close.
Of course if you live in a town where you are the only one who owns a car (like Brisbane), the chances of getting in an accident are much less.Of course if you live in a town where you are the only one who owns a car (like Brisbane)
You do know that Brisbane is a capital city right?
Also I'm pretty sure car ownership is higher than average in QLD.
https://profile.id.com.au/australia/car-ownership?WebID=120
on which car and with who?
I've always said as long as you can afford to drive without it…his history suggests it's a poor financial choice though.
Lol $150 pa??? What insurance are you using.
It's easily 400+ TPP for a semi decent decade old car unless you are lucky enough to grab a killer deal from ozbargain.See my comment above.
I was paying $150 for a 5 year old car not that long ago.
Aami/Suncorp
$136 2004 lancer
$152 1998 Ford courier
@Zachary: We are all talking about cases where your car is worth so little you shouldn't get comprehensive - but absolutely still should get TPP. So yeah?
@johnno07: ….for when you're at fault…..insurance wont work if they crash into you and it was their fault….
@Zachary: Mate if your car is worth $1000 you don't need comprehensive insurance. All you need is coverage to cover the risk of damaging someone elses property.
Stupidity?
Drugs and acohol
Create a new account and post in OZB, ignore the good advice and insist on having the right of way
acohol
Sounds like you're already under the influence mate :P
Early start to the weekend teehee 🙃
I know someone who doesn't even have TPP. His reason was that he's not planning on crashing into anyone or anything……
No one plans to crash into anyone, thats why it's called an accident, otherwise it would be murder.
He must have amazing levels of precognition to avoid other people crashing into him, trees falling on his car, etc.
Other people crashing into him or trees falling on him wouldn't be covered by TPP anyway
If you are not at fault most TPP will pay you for the damages to your car up to a certain amount; $5000 is typical.
@Eeples: However not so easy to obtain. Other party has to admit fault etc. Had someone crashing into my car a few years ago. My TPP insurance didn't help at all and the guy ignored all correspondence, calls and eventually disappeared. No assistance from police either as it's a civil matter.
@Eeples: Only in very narrow circumstances. There's usually a clause for damage caused by uninsured drivers, and they are found entirely at fault, and you you get their plates. But if they hit your car and leave, or a tree falls on your car, or anything else, nothing.
Heh, a company car actually did crash into him. Wrote off his cheap car. I think it's been almost half a year, hasn't heard back from them. I'm willing to bet that the at fault company knows he doesn't have insurance and isn't going to go to court over a few grand.
A semi trailer collided with me (they were at fault), lucky I had comprehensive, so I didn't have to chase the driver/ company and got my car fixed. 2 years later, I got a letter from my insurance asking to confirm details and to inform me they were taking them to court.
Some people are shit, there's nothing you can do about them, all you can do is protect yourself from those people to the best you can
^this
my wife has had two accidents where the other party has either exaggerated or just outright lied. We only had TPP on our car and the other car was comprehensively insured. They kept insisting it was my wife's fault. In the end it was he-says-she-says and our insurer wouldn't represent us as they thought it wasn't out fault and being TPP our car wasn't covered. So other party ended up having to pay his excess. If he'd just been honest and took responsibility, his excess wouldn't have been any different and my wife's car would have been fixed as well.Dashcams!!! Gotta have dashcams!!! Best insurance against lying asshats!!!
Even spidey sense isn't good enough to avoid being hit.
then tells him the reality is that if someone crashes into him and turn around saying it was his fault. He's in for a long and stressful legal battle.
I know. I've been there. It wasn't even my fault and I have TPP.
Oh trust me, I had a go at him over this. He's a genuine good hearted guy, maybe he doesnt think people would do this or this wouldnt happen to him, idk. It's strange because he's not stupid or anything.
Unfortunately, I think some people have to get their hand burnt in order to believe fire is hot.
Smart people make stupid mistakes as well. Everybody is human and hence fallible.
Natural selection
It's never an accident, it is a crash. It is always someone's fault regardless. Too much speed, distractions, bad tyres, etc.
I wish people stop calling crashes accidents. I attended a lot of crashes (job), none of which were an accident unless a tree fell on a car or some random natural unforeseen event.
"Accident" implies no intentions for the incident. A crash can be intentional or unintentional.
Perhaps the tree or the ground was not well maintained, causing the tree to fall?
I disrespectfully disagree.
No one ever wants to have "an accident" or crash. However, when it happens and it is not of natural phenomena, that person accepted or didn't want to accept the increased risk of a crash by … being on the phone, not having tyres inflated properly, driving with punctured tyres, looking for the phone under the dashboard, etc, etc, etc.
Then you all of a sudden, run a red light, t-bone someone else and you call it an accident. I call that a crash.
Or … fail to stop on time on the freeway, rearendDriving implies a certain degree of risk. When you are distracted or tired or not taking care of your car properly, that risk increases exponentially. When you accept that risk, you don't have an accident, you crash.
Here is good footage of … accidents. https://www.youtube.com/watch?v=aB902ANUgp4
@[Deactivated]: So 'workplace accidents' doesnt exist?
So if you "accidently" knocked over your glass of water, you didn't really "accidently" do it, you crashed into it, the intention was there?
@Ughhh: Don't take things out of context please, keep it to car context.
Keep the discussion on topic.
P.S. next time someone has an accident with you … just brush off and say, "that's ok mate, it was just an accident, not your fault. I'll pay for the damage because it wasn't your fault."
Not only is it usually someone's fault — usually all involved parties could have avoided the collision.
Government driver safety education of the 1970s is still highly relevant:
https://www.youtube.com/watch?v=fUndGF6QiQ4Of course in the modern world, its always someone else's fault …
I agree! I've always called any accidents "carelessness"… Not accidents. Someone's carelessness is always at fault.
Brainless.
I don’t have car insurance, because I ride a bike.
And you come off the curb and into the side of a car.
"sorry"
"Kerb".
"Yaw Enfusiasm".
If its at an intersection turning traffic gives way to all others
This is a fair point.
Third party car insurance isn't going to do much when you're on a bike.
Although you can get comprehensive bike insurance from memory, it's not cheap though.Talking about a push bike here :D
Yep, and there is insurance for that. Predominantly designed to provide you with protection for any damage you may cause to a third party, whether person or property.
I know?
*third party property bike insurance
If everyone had car insurance 1/2 the funny/trolls/interesting posts on many forums wouldn't exist.
Had insurance ever since I got my licence and wouldn't consider not having it.
unless they are like the OP with the French wagon.
But, secretly has a preference for Germany cars ;)
We will always have hellopam so it wouldn't be completely boring
@ timthetoolman Valid point :)
Does hellopam have insurance?
Fully agree. It should be compulsory to have TPP as in most first world countries.
In the last 22 years I have paid around $17k in comprehensive insurance premiums.
I have had zero at fault claims.
It is arguable that I am the loser in this equation.
Self-insuring would have made me $17k better off.
There is nothing wrong with self-insuring, as long as you have the money to pay for repairs should the worst happen.
I didn't have any at fault claims for almost as long until one day my car was stolen and not recovered. More than made up for the all the premiums I have paid and I'll still be ahead years from now.
I even got bonus points for insuring my car at an agreed value well above the market value.
That's true.
One major event can wipe out all savings.
And of course I wasn't to know I was going to be OK for 22 years.
I mean with that username, I wouldn't skip insurance either!!
thanks for paying for my claims.
There is nothing wrong with self-insuring, as long as you have the money to pay for repairs should the worst happen.
100% agree. Noting that the worst that could happen could easily go beyond $100k (and potentially well beyond that), and also noting that any fight that arise is then between you and as an individual (and whatever legal advice you can muster/afford), and the other party (who in effect are likely represented by their insurance company and their cadre of lawyers on retainer).
For comprehensive maybe, the problem is with third party there isn't really a limit on the damage that could be done. Also if i there is questionable fault you are going up against an experienced company trying to pin it on you.
What if you hit a Ferrari tomorrow? Then you are up $450000
You should be grateful for not needing to claim. Even if you have a not-at-fault accident, you will have to go through the following:
- the stress of going to the cop for police report
- filling out claim forms
- not having a car for several weeks when getting it fix
- always in your mind that your car was repaired and doesn't drive the same as before. What is that rattle? why my steering wheel is not perfectly straight? the panel gap is larger on this side, one head light is brighter than the other……
- dealer knows your car was repaired and squeeze you trade in value
- more difficult to sell your repaired car.
- rust appears several years after the repair.
- injuries you sustained from the crash.You can claim a lot of that against the at-fault party (e.g. rental car expenses, medical bills, wheel alignment). I've had two accidents where I was not at fault and the legal stuff is a breeze when you know what to do. Insurance companies will not bother taking you to court over a few thousand dollars and will fold.
You can claim a lot of that against the at-fault party (e.g. rental car expenses, medical bills, wheel alignment).
Except when the at-fault party is like many of those this thread is talking about, who self-insure. If they don't have the cash in the bank, you're out of pocket and out of luck.
You're wrong.
Insurance companies will sell small debts to mercantile agents who will chase you and ruin your credit rating.
Certain insurers will also get the sheriff to go and repo your stuff to sell.
That's how insurance works, it wouldn't exist if everyone ended up better off. The risk is pooled and those that have claims benefit. If you've not had to claim that's actually a good thing! Hindsight is always wonderful.
In the past 15-20 years we've had a few claims. One car stolen, another hit while parked, one keyed in a car park, rear ended, truck who side swiped when my wife was driving and tried to leave the scene (she followed him and got his details, he refused to co-operate with the insurer but we got the full payout with no excess), couple of other knocks. All repaired under the comprehensive cover we've always held.
Absolutely worth it, especially in big cities where there are a hell of a lot of selfish morons on the roads. You can be the best driver around but still be unfortunate.
"It is arguable that I am the loser in this equation."
I am also the loser for paying life insurance premiums for years. What can I do about it?
I think objectively speaking, Insurance is a rip off.
I say this because this is an industry with established giants, all who are for-profit models. That means l, statistically speaking, there are far more people who pay for insurance and don't claim, than there are those that do claim and benefit.
Someone once told me, if everyone on the road had insurance, then it would be similar to a vaccinated populace that has herd immunity. So even if you're not insured/vaccinated, you are technically covered. That might make (some) sense, but to me it's not really logical especially considering Vaccinations are largely handled by the State (non-profit), whilst Insurance is covered by Companies (for-profit).
Subjectively speaking, it really depends on your location, your vehicle cost, and your disposable income. So for some people it's a great option, for others it is not.
The job of insurance is to get you back to the position you were in prior to an unexpected event occuring.
I suppose it comes down to what price you are willing to put on 'peace of mind'. If you can pay $1300 (on average) per year for comprehensive insurance to never have to worry about 'what ifs' (apart from wear and tear and mechanical failures) occuring on your car, that might be acceptable for you.
You may have 10 years where you pay premiums year after year and never claim. The following year you may be hit by a car not paying attention, get stuck in a hail storm on the way to work or have a tree branch hit your car while parked in the front yard and have double the value of premiums you have paid
spent by the company on repairs or replacement of the vehicle.That 'herd immunity' analogy I dont really agree with either - that presupposes that all insurance covers those that are at fault and not at fault, and doesnt take into consideration natural events, fire or theft. If all other cars but yours is covered and someone steals your car, you most definitely are not covered.
Third Party cover should be a must for everyone, even if you don't have a high salary. Sure - it doesn't cover repairs to your car should you be at fault, but it ensures that if you do hit that Ferarri or dont put the hand brake on in the petrol station and roll into a bowser, your losses are capped at your excess - giving you peace of mind at what your maximum losses are.
Someone once told me, if everyone on the road had insurance, then it would be similar to a vaccinated populace that has herd immunity. So even if you're not insured/vaccinated, you are technically covered. That might make (some) sense, but to me it's not really logical especially considering Vaccinations are largely handled by the State (non-profit), whilst Insurance is covered by Companies (for-profit).
What? Even if every other car on the road had comprehensive insurance, except for you, and you hit and write off a brand new Rolls Royce, their insurer is coming after you for the $500k+. Someone else being insured doesn't absolve you of cost or responsibility.
Does anyone have 1mil cash sitting around when they rear-end a new supercar?
And tomorrow, you could rear-end a Bentley. That's part of the statistical equation of life (probability), you just haven't considered it in yours.
I'd argue that for most people though, self insuring isn't possible.
Scenario, I lose consciousness or lose control of my car somehow and run into a building / ferrari /other expensive thing. I'm up for hundreds of thousands of dollars of repairs, possibly more.
Self insuring for a fender bender is fine, you need to account for the bankruptcy inducing shit that might happen.
what happens when you hit a ferrari, lambo, bently or rolls royce. Goodluck forever being in debt
Minimum repair bills on that start at around the 20k mark
20k would be getting off easy lol.
I don't have a Car.
Personally i chose not to have it for the first 6 years of my driving life, stupid i know, luckily i didn't hit/wasn't hit by anyone.
Now, you'd be stupid not to given the gift cards and offers you get for third party insurance.
This year alone i received a $200 gift card for a $250 policy and a $100 gift card for a $180 policy.Just switch year to year.
A friend didn't buy third party car insurance for his old vehicles. He's crashed into three cars over the past 15 years, each time having to buy them out. I guess he'll eventually learn his lesson that paying ~$150pa is cheaper than paying ~$6000 every five years. I'd hate to think what will happen if he hits an expensive car one day.