Comprehensive Car Insurance for Camry Altise 2015 - What Would Be A Good Quote?

motui302 on 20/06/2022 - 23:01
Last edited 20/06/2022 - 23:01

Hey guys,
I'm in need of your invaluable advice yet again.
I'm driving a Camry Altise 2015, and with AAMI for comprehensive insurance.
I'm over 25. Was involved in two accidents throughout my driving history. I was not-at-fault in both.
I'm working from home, so only use the car twice a week for shopping purposes.

AAMI is quoting $1,200 for renewal, which is a bit too much for me as I'm grappling with my own cost of living crisis.
The covered amount currently stands at $14,500.
I'm more than happy to bring it down to less than $10,000 but not sure it would have much impact on the premium.

Do you think the present quote by AAMI is reasonable?
Should I switch to another provider? Anything I can do to bring the premium down?

I called and haggled with them last year, and they gave me a grand discount of 50 bucks.
Last year, I also got quote from RACV and Youi. Both wanted more than AAMI.
And I will never get near Budget Direct based on plenty of feedback I've read in this forum.

Any suggestion from you guys is greatly appreciated.
I am extremely grateful for your advice in the past regarding car battery, electricity and leaf blower.

P/S: Given my experience in both accidents in the past, it would be comprehensive all the way for me.
At the moment, I don't think of switching to third party for savings.

Regards,
Ted

Automotive Car Insurance Insurance

Comments

  • El cheepo on 20/06/2022 - 23:10
    +4

    Only you can work out what the cheapest price you can get is as you are the only one to know all of your details.

    Check a few different providers, find a cheap one, read their PDS and then pick it if it’s right.

    Only you can decide if $1200 is acceptable.

    Not a lot people can do to help when comparing car insurance as everyones circumstances are different…

    • motui302 on 20/06/2022 - 23:14

      Thank you for the advice.
      I'll search harder in coming days.
      Was hoping people can share how much they're paying for car insurance.
      So I can pick them up as benchmarks.

      • El cheepo on 20/06/2022 - 23:18
        +3

        Understandable, but, It’s not an easily comparable thing though.

        You may find other people that have had the same number of accidents and a similar car but there are too many other factors that will influence the final price.
        Location, age, parking situation, kms driven etcetc

        Eg: my friend has a fancier car worth 2ish x my car, they are younger then me and they pay less comprehensive insurance… extra factors influence it a lot

        • motui302 on 22/06/2022 - 21:49
          +1

          Hello there,
          I just did my own homework and could confirm that you're damn spot on.
          What I've been doing (i.e., going around & asking others about their insurance) is simply pointless.
          And there's no way I can bring my premium down below 1K unless I go with an excess fee of 2K.
          This is, to me, such a rip-off.

  • randomusername2017 on 20/06/2022 - 23:32
    +2

    Postcode is worth an extra $700pa for me.. across nearly all quotes.
    2200 Vs 2261

    • motui302 on 22/06/2022 - 21:06

      Thanks heaps for sharing.
      I also suspect that postcode has some significant impact.
      A guy below is also with AAMI. Same car and other conditions.
      He's paying $760 while AAMI demands $1,200 from me.
      In their renewal letter, they say a discount of $60 has already applied as a reward for me being a safe driver.
      I've made zero claim in my 6 years with them.
      Haha. Such a joke.

      • kerfuffle on 22/06/2022 - 21:16
        +1

        Even your house number has an impact. Next door gets insurance cheaper according to my quotes (probably because no one's using their driveway to do three-point turns unlike my driveway, as they're on a corner block)

        • motui302 on 22/06/2022 - 21:38

          Wowww!
          Thanks heaps for this.
          I reckon I'd throw in the white flag and fork out my money for AAMI shortly.
          But this would make an interesting story for me to tell when my family visit Australia next.
          I hope you don't mind me sharing your anecdote.
          Cheers.

  • Pelicannn on 20/06/2022 - 23:55
    +1

    Yikes… obviously different circumstances but FWIW I pay around the same for my 2022 M135i insured @ 80k driving 15-20,000km a year. Under 30 (which btw if you hadn't realised is the new 25) and male but no at faults in the last 5 years. Thats with SGIO (part of NRMA) so perhaps give them a look.

    • SlavOz on 21/06/2022 - 10:41

      Ye over 25 means nothing anymore. 30 is the new number.

    • motui302 on 22/06/2022 - 21:11

      Thank you very much for sharing.
      I'm in VIC, so it'd be RACV for me.
      I've just got a quote from them.
      Same price with AAMI.
      Forking out $1,200 to insure a 7-year-old Camry feels like a rip-off.
      Btw, I'm 32, and consider myself a safe driver.
      Got into two collisions in the past 7 years.
      I was not at fault in both.
      Couldn't do anything with the other car slamming into my rear.

  • stewy on 21/06/2022 - 00:00
    +1

    All you can do is get many quotes and then choose the best value policy for your circumstances.

    Two others you can try are CGU and Coles Insurance, both are underwritten by IAG but seem to differ in pricing.

    • motui302 on 22/06/2022 - 21:13

      Thank you very much for your advice.
      I've done quotes with AAMI, RACV, Youi and Woolworths Insurance so far.
      Will add Coles to the list.
      I searched for CGU and reviews on Google seem far from flattering though.

  • samcro on 21/06/2022 - 06:21
    +1

    Try Australia Post Insurance (underwritten by QBE). You can get $150 off comprehensive policies at the moment.

    • abear on 21/06/2022 - 10:09
      +1

      Went with QBE last week from Budget Direct. Was $300 cheaper with the current $150 off for online sign ups

      • motui302 on 22/06/2022 - 21:20

        Thank you both.
        Just did a quote with QBE and they came in more expensive than AAMI.
        It's never occurred to me that insuring a 7-year-old Camry would be this expensive.
        I reckon I'd give in soon.

  • pao2x on 21/06/2022 - 06:35
    +1

    Third party can save you $700-900, but seeing as you get pranged all the time by others it might not

    Try koba insurance. Pay per kilometer + base insurance

    • Euphemistic on 21/06/2022 - 06:55

      If you can’t afford to replace the car out of pocket or live without a car at all you can not afford not to have comprehensive.

      TPP is OK if your car is worth very little or you have cash in pocket to repair replace it if the other party won’t pay up - or you cause the crash

      O have a look at a bunch of the insurance threads on here about ‘I’ve only got TPP what can I do’

      • SlavOz on 21/06/2022 - 10:52
        -1

        Drive carefully and you can reasonably avoid having an accident. The idea that not having comprehensive insurance means you're going to be left without a car is like saying not having life insurance means your family will end up poor.

        A lot of things need to happen for the worst case scenario. You need to get into an accident, the damage needs to be a write-off, and the other driver doesn't have insurance. Even then, you may have success pursuing him by other means (court or personal settlement).

        Honestly, paying $1200 to insure a Camry is a rort.

        • Euphemistic on 21/06/2022 - 14:07

          Totally agree that $1200 is a rort, but don’t agree you can always avoid a crash. Most common one is probably waiting stopped at the back of a queue and someone hits you. I’ve seen enough dashcam oz videos to know the risk of some clown cleaning me up is not zero.

          The damage doesn’t need to be a write off, just expensive to repair and render the car undrivable. Also, if the other driver is insured and won’t claim TPP won’t pay. Chasing someone like that through courts is a long process and you might be out of pocket for years and without wheels until you can afford another car. If your car is worth significantly more than $5k you need to know how much is at risk. All of which means if you can’t afford to lose your car, you can’t afford not to have comprehensive.

          • SlavOz on 21/06/2022 - 18:43

            @Euphemistic: Why would someone with insurance NOT make a claim? It's their decision between paying $600 excess vs being dragged to court and potentially paying thousands out of pocket. Seems like a safe bet they're going to settle the damages with the insurance they purchased for that very reason.

            Of course there are deadbeats but I don't like to make financial decisions around them. For $1200, you can buy a rusted car on wheels after just the first year. Give it a few years and you can easily buy a brand new Camry for the money saved from insurance.

            • Euphemistic on 21/06/2022 - 20:51

              @SlavOz: I know you’ve been on this forum for a while. Surely you’ve seen the threads about other drivers stiffing people despite having insurance. There’s been dozens of similar threads. ‘Not at fault, no insurance, other party won’t pay. What do I do?’

              I’ll say it again, it’s essential to have comprehensive insurance if you can’t afford to be without or replace your car at short notice.

              Seem you can afford to go buy a $1500 clunker and that’s a different story, in your case TPP might work

              • SlavOz on 21/06/2022 - 22:03

                @Euphemistic: Most of such threads, at least in my browsing experience, seem to be of people without insurance who were at fault for an accident. That's very different to not having insurance and being screwed over because the at fault party doesn't want to cooperate.

                I don't disagree with your value of Comp cover, but if you can afford to buy a car and keep it on the road, then pay $1200 to insure it, I don't think you're that financially destitute that you wouldn't be able to get back on your feet somehow if your car was destroyed.

                • Euphemistic on 22/06/2022 - 05:53

                  @SlavOz: It depends if your vehicle and $1200 insurance is a stretch or you’ve got a few grand lying around just in case.

                  Many people don’t have ‘rainy day’ savings, it’s those people that need to work out how to afford comp.

                  I, probably like you, TPP insured a $1500 hatchback and an $8k wagon but went comp when the vehicle got closer to $20k. Between my partner and I we’ve made 1 claim this century.

                  • SlavOz on 22/06/2022 - 08:59
                    -1

                    @Euphemistic: Fair enough. To each their own I guess. I had comprehensive cover on my last car (Nissan 370Z) for about a year until I decided it just wasn't worth it. The car cost me $30k, insured for around $24k, yet they were charging me $2k a year. It was a weekend car with minimal driving so the risk of an accident was low and if I did lose the car to an accident it would just be a very expensive lesson but not a financially distressing one.

    • motui302 on 22/06/2022 - 21:41

      I'd say getting slammed in the rear twice in 7 years is hardly all the time.
      Thanks for raising the possibility of going 3rd party though.
      Like everything in life, I suppose a choice comes with its own pros and cons.
      In my case, I believe I won't be able to handle the inconvenience and mental nuisance if something goes sour.
      Chasing others through court sounds to me like an ordeal I'd never want to get myself near.

  • TEER3X on 21/06/2022 - 06:48

    Woolworths insurance

  • Hardlyworkin on 21/06/2022 - 07:38

    Budget direct.

    Or use a comparison site. Don't use your main email address and real name though, and put down a phone number for someone you don't like. They tend to hound you a bit.

  • iamherenow on 21/06/2022 - 08:14
    +1

    similar car, similar agreed value, $650 excess, $760 with AAMI. Was just under $700 the year before.

    • motui302 on 22/06/2022 - 21:31

      I really appreciate what you've shared.
      I've been made aware that location makes a big difference.
      My place is on a quiet street in Lilydale, VIC.
      It's probably considered an unsafe location for motorists then. Haha

  • apple2016 on 21/06/2022 - 08:54
    +2

    Usually I opt for an higher excess($2000) and higher agreed value to keep the premium down.
    Do remember if you are at fault, you will have to fork out $2000!

  • bobbified on 21/06/2022 - 09:12
    +1

    I'm more than happy to bring it down to less than $10,000 but not sure it would have much impact on the premium.

    Do a new quote online for "Agreed Value" and it'll give you a min and max value. Put the min value in and see what sort of premium it spits out.

  • Unicorn007 on 21/06/2022 - 19:10
    +1

    Try QBE comprehensive, their prices are competitive and you can get the agreed value range bit higher than others!

    • motui302 on 22/06/2022 - 21:28

      Thanks a ton for the advice.
      I didn't hear of QBE before.
      I just did an online quote with them.
      I did notice that they offer a higher agreed value.
      It's between 15K and 22K with them.
      It's 10K and 19K with AAMI.

      Unfortunately, QBE came in more expensive than AAMI.
      Wish me good luck with a couple more quotes I'll be getting tomorrow.

  • Hackney on 22/06/2022 - 07:18
    -1

    Get quotes from all the majors,that is just common sense.

    • Euphemistic on 22/06/2022 - 07:35

      You’d think!

      • motui302 on 22/06/2022 - 21:25

        Of course, that's what I have been doing over the past 3 days.
        I just realised that checking the premium paid by other drivers is a futile exercise.
        There seems a myriad of factors involved.
        Even a change in address would make such a significant difference.
        I find it a bit funny that out of the 5 major providers I've tried so far (AAMI, RACV, Youi, Woolworths, QBE), AAMI is the cheapest.
        I'd never imagine insuring a 7-year-old Camry would be this costly.

  • Leanne59 on 22/06/2022 - 07:56

    I've just done a quote in the last week with AAMI's for my 22 year old son and they had the cheapest quote. Went from over $1300 with NRMA down to $932 with AAMI's. He has a 2017 Mazda 3 with an agreed value of $18K, never had a accident or claim and does 5,000-10000 km a year. We live in the bayside area of Brisbane so not sure if that makes much difference.

    • motui302 on 22/06/2022 - 21:34
      +1

      Thank you very much for going into great detail on your current insurance policy.
      I've just learned that location makes a huge difference when it comes to determining insurance premium.
      This renders my attempt of asking others about their own insurance a futile exercise.

      Nevertheless, I really appreciate you taking the time and sharing your case with me.
      I've learned something new today.

  • archieduh on 25/06/2022 - 22:24

    I can't believe a 7y old Camry insurance would cost this much. Have you tried GIO, it's same company as AAMI but I have found quotes to be slightly less (even though they are all SunCorp), even see free Roadside assistance advertised currently. I tried few and GIO came the cheapest. Good luck.

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