Car Insurance - Massive Increase

Nuggetron on 16/01/2025 - 12:23
Last edited 16/01/2025 - 15:11 by 1 other user

Just got my car renewal and it has increased from $1200 to $2000.

No claims made but I did lose the multi policy discount because they pulled a similar card with the home insurance. It is with Suncorp and on the old for new policy which I have paid for four years so they do have me bent over backwards there.

I think I'm happy to drop back to comprehensive and miss out on that old for new deal. Every year I've called, and they are becoming harder and harder to drop the price and when they finally do it's nowhere near as much as it was dropped the previous year.

It's a standard Kia Cerato so nothing special to justify $2k, and the first random quote I did with ING (where home and banking is) was $1200 (with 15% first year discount).

Thoughts?

Worth dropping new for old after paying for it 4 years?

Financial Car Kia

Comments

  • Dollar General on 16/01/2025 - 12:32
    +6

    Have you shopped around for a better deal?

    • bubbleboom on 16/01/2025 - 16:16
      +6

      I had a similar increase last year. I got quotes from pretty much every insurer I could find and the increase with my current insurer was still cheaper somehow. Shocked me to my core.

      • Nuggetron on 16/01/2025 - 22:50

        This is looking to be true for me too.
        I just did a basic comprehensive coverage with Suncorp and it came out at 2.1k.
        All the big name insurers are 1800 to 2000 and the lower end pay less drive less guys are 1600 to 1700 for 10000 KMs which I should be under st the moment but if I pick up office days which seems to be the trend I will exceed that

  • JIMB0 on 16/01/2025 - 12:37
    +5

    Just change companies.

  • Bargainitis on 16/01/2025 - 12:38
    +3

    shop around… thats outrageous

  • KangaDrew on 16/01/2025 - 12:38
    +1

    Worth dropping new for old after paying for it 4 years

    Worth running comparison quotes with 3 other insurers and then whittling down your choices from there.

  • 87percent on 16/01/2025 - 12:41
    +5

    do a quote with your current provider as "new" customer and see if thats a better price

    • boomramada on 16/01/2025 - 13:31
      +1

      This hack no longer works on most providers, they caught up with it.

      • Bargainitis on 16/01/2025 - 13:37

        From my experience, you can always "trick" it by using your partner's details or parents.

      • 87percent on 16/01/2025 - 14:57
        +1

        I did it last month with AAMI

        • MrCAMEL on 16/01/2025 - 18:50

          I’ve done this with AAMI for at least 7 years in a row.

  • Porker on 16/01/2025 - 12:43
    +1

    Get a new quote with Suncorp for the same coverage (if available) and compare.

    This is a cyclic for process for our household, we get a new quote for the same insurances with the same/existing companies to get better deals.

    This started when I asked if I could have the 30% deal off (at the time) applied to my account and the answer was no. I then simply obtained a new policy with the same details and coverage and got the 30% discount.

  • Protractor on 16/01/2025 - 12:43
    -2

    Find another better deal and then tell SCorp to GFT. I mean actually make the call and tell them they blew it. Take family members with SCorp with you.That might be a (remote) chip you can bargain while seeking quotes

  • netjock on 16/01/2025 - 12:55
    +2

    You got the loyalty bonus.

    Disloyalty pays.

    • Bruceflix on 16/01/2025 - 13:09
      +1

      This is now the truth with insurance, utilities, supermarkets. Pretty much anything.

  • Gdsamp on 16/01/2025 - 13:05
    -6

    You can thank anyone who uses those Right2Drive type services and anyone with a Tesla/EV for driving up premiums for everyone else

    • JimmyF on 16/01/2025 - 13:14
      +2

      What a load a crap about Tesla/EV owners pushing up your price. Each car group pays its own insurance based on the cost of the car and the claims had.

      It is no different to P plate drivers who pay a crazy price for insurance, while a mid 30/40 person with the same car doesn't. Tesla/EV drivers are no different. So it isn't done like you think it is done.

      The OP Kia Cerato is priced based on the car, the age of the OP and the area they live in, based on the amount of claims in that area and for that car.

      But yes, Right2Drive pushing up everyone's insurance, companies should just stop paying them.

      • jv on 16/01/2025 - 13:23
        -2

        What a load a crap about Tesla/EV owners

        It's not though…

        Each car group pays its own insurance based on the cost of the car and the claims had.

        That's not really true though in practice.

        • JimmyF on 16/01/2025 - 13:34

          It's not though…

          No one asked you.

          That's not really true though in practice.

          So why does one car cost $2k for insurance and another car costs $1k?

          Why are p plate drivers paying $3k and 40yo are paying $900 for the same car?

          It is how it is done, otherwise it would just be a flat rate for insurance if it worked the way you think it does.

          • jv on 16/01/2025 - 13:42
            -2

            @JimmyF:

            No one asked you.

            No one asked you.

          • jv on 16/01/2025 - 13:42
            -2

            @JimmyF:

            So why does one car cost $2k for insurance and another car costs $1k?

            value of the car to repair/replace/pay-out.

            • JimmyF on 16/01/2025 - 14:42
              +1

              @jv:

              value of the car to repair/replace/pay-out.

              So why are you claiming that Tesla/EV are pushing up Kia Cerato policies when you claim the policy amount is reflective of the cars repair/replace/pay-out cost.

              • jv on 16/01/2025 - 14:45
                -2

                @JimmyF: The fires….

                • JimmyF on 16/01/2025 - 16:43

                  @jv: another wasted space of a comment

                  • jv on 16/01/2025 - 16:46

                    @JimmyF: Then why did you post it?

                    • JimmyF on 16/01/2025 - 16:53

                      @jv: go away jv, no one likes your useless dribble

                      • jv on 16/01/2025 - 17:01
                        -3

                        @JimmyF:

                        useless dribble

                        subjective, just as people view your comments as 'useless dribble'

                        • JimmyF on 16/01/2025 - 17:06
                          +2

                          @jv:

                          subjective

                          ok then, I see your comments as 'useless dribble'. So time to add you to the block list so I don't see them.

                          Comment blocked.

                          So much better now.

  • Bruceflix on 16/01/2025 - 13:11
    +1

    anyone who uses those Right2Drive type services

    I know right. How dare not at fault drivers get a loan car while their vehicle is repaired! The entitlement!!

    • Gdsamp on 16/01/2025 - 13:16
      -1

      if you want that service Maybe you should select that option in your own insurance policy rather than making everyone else pay for it

      • Bruceflix on 16/01/2025 - 13:17
        -1

        I know right. Not at fault drivers should be forced to use their own insurance policy. The entitlement!!!

        • Gdsamp on 16/01/2025 - 13:18
          -1

          Yeah that's called being insured

          • jorf on 16/01/2025 - 13:27
            +2

            @Gdsamp: It's not though because they charge extra. The insurers could easily make Right2Drive disappear by simply including not-at-fault car hire in their standard coverage. Their costs are obviously less to payout to these services than they are to change their coverage, otherwise they would have done this already.

            • JimmyF on 16/01/2025 - 13:37

              @jorf:

              by simply including not-at-fault car hire in their standard coverage

              you mean people taking out the policy should tick the hire car box?

              • jorf on 16/01/2025 - 13:41
                +1

                @JimmyF: No, I mean that not-at-fault drivers should be covered under the standard terms of the policy. It should not be an additional cost. Or to put it more correctly, the cost should be automatically borne by the at-fault party's insurance as the rest of the repairs are. As it is, these companies exist because the insurers pocket (mostly) free cash from this "option". It doesn't matter how much Right2Drive charge the insurer because the insurer is making much more than that from people who feel "forced" to check that box when taking out a policy for something that is a legal right and then don't claim on it anyway.

                • JimmyF on 16/01/2025 - 14:44

                  @jorf:

                  It doesn't matter how much Right2Drive charge the insurer

                  It does when they charge $400/day for 1 month, and hand over a $12k hire car bill.

            • Bruceflix on 16/01/2025 - 13:38

              @jorf: Not at fault car hire is standard. Car hire option is for at fault accidents.

              • jorf on 16/01/2025 - 13:45
                -1

                @Bruceflix: ?? Right2Drive exists because it's not. Right2Drive does not loan cars to at-fault parties.

                • Bruceflix on 16/01/2025 - 13:55

                  @jorf: Right2drive exists because crash repairers often don't have loan cars now and also because crash repairers often have lengthy delays.
                  Car hire option on policies is for at fault accidents. Maybe you should read your insurance documents a little better.

                  • jorf on 16/01/2025 - 14:04

                    @Bruceflix: You're missing the point. I shouldn't need to negotiate with the crash repairer over a loan car (or anyone else for that matter) in a not-at-fault claim. Right2Drive solve this problem. The cost of Right2Drive is obviously inconsequential to the insurers because otherwise they would have built their service into their own offering.

                    • Bruceflix on 16/01/2025 - 14:07

                      @jorf:

                      I shouldn't need to negotiate with the crash repairer over a loan car (or anyone else for that matter)

                      You don't. Either ask your insurance (or theirs) to organize one or go to a hire car company and get your own, keeping the receipts to get reimbursed.

                      • jorf on 16/01/2025 - 14:27

                        @Bruceflix: That's not what you just said. If it's so easy, why does Right2Drive exist?

                        • Bruceflix on 16/01/2025 - 14:35

                          @jorf:

                          why does Right2Drive exist?

                          Marketing and convenience. They simplify the process, and they charge accordingly. The consumer doesn't see those charges so doesn't care.

                          As proven by you, a number of people do not actually know what their car insurance covers.

                  • miwahni on 16/01/2025 - 23:09

                    @Bruceflix: Depends on your insurer. With RACQ the car hire option exists for instances such as hail damage, having your car keyed in the carpark etc, all of which are not at-fault accidents. Insurance companies differ in the level of coverage they provide.

                    • Bruceflix on 16/01/2025 - 23:30

                      @miwahni: Not at fault implies there is another party that is at fault. If there is no other party (eg. hail damage) you have the excess and you theoretically are the at-fault party.

          • Bruceflix on 16/01/2025 - 13:37
            +2

            @Gdsamp: Why should a not at fault driver use their own insurance when they can use the at faults insurance? Sure, I have comprehensive insurance but if someone hits me I'd rather use their policy than have to make a claim.

            You know when getting an insurance quote is asks how many claims you have made? Use their insurance, no need to make a claim.

            My insurance is for when I am at fault or the other part does not have insurance.

            • Sal in SA on 16/01/2025 - 20:12

              @Bruceflix: Exactly this.

            • Guybrush57 on 16/01/2025 - 20:35

              @Bruceflix: How do you accomplish this? Do you do all the legwork by ringing the at fault party's insurance?

              • Bruceflix on 16/01/2025 - 20:55

                @Guybrush57: Contact the at fault party. Ask them for their policy number. Book car, give policy number.
                Difficult I know.

                • Guybrush57 on 16/01/2025 - 22:03

                  @Bruceflix: Doesn't sound too difficult. I simply hadn't heard of people avoiding going through their own insurance to ensure it doesn't count as a claim.

      • brendanm on 16/01/2025 - 14:14
        +1

        The at fault driver has to pay your (fair) hire car fees by law.

    • JimmyF on 16/01/2025 - 13:16
      +4

      The issue isn't them getting a loan car, the issue is the cost Right2Drive tries to charge for a car, generally 3-5x the normal cost.

      $400/day for a car via Right2Drive, vs $80 if hired directly from a hire company.

      • GordonD on 16/01/2025 - 14:23
        +1

        Yep, I don't disagree with the general principle of the not at fault driver getting a loaner for the duration. But the price Right2Drive charges for that is extortionate. I'm happy with pretty much anything that's clean and reliable when my car goes to the mechanic for a couple of days. I'm sure it doesn't cost him $400 a day to run his loaners.

  • jv on 16/01/2025 - 13:20
    -1

    Just got my car renewal and it has increased from 1200 to 2000.

    Possibly because of the LA fires.

    • JimmyF on 16/01/2025 - 13:35

      You joke, but insurance around the world will be going up thanks to the LA fires.

      • jv on 16/01/2025 - 13:38

        No joke.

        We need to all subsidise such a poor nation as the USA.

        • Bruceflix on 16/01/2025 - 14:09
          +2

          Not a USA thing. Insurance companies are the farmers of the financial world. Always want to be bailed out in bad times but never spread the wealth in good times.

          • JimmyF on 16/01/2025 - 14:40
            +1

            @Bruceflix:

            Always want to be bailed out in bad times but never spread the wealth in good times.

            It is funny how policy prices go up due to a flood/fire/earthquake etc to cover losses but never down once they are covered. Then on the next flood/fire/earthquake they go up again!

  • pegaxs on 16/01/2025 - 13:36
    +2

    Same this year… went from about ~$900 to almost $2,000. I think they just rely on consumer apathy and auto renewals. I said (fropanity) that! and shopped around, got it a shade over $800.

  • Pelicannn on 16/01/2025 - 13:42

    Shop around. As with any ongoing product or service you pay for that we pretty much require in life, loyalty is never rewarded by these companies because most people are too lazy to switch.

  • Porker on 16/01/2025 - 13:53

    Side item based on replies: I just looked up what Right2Drive was!

    Is it the case now, example Right2Drive, that one needs to or should pay for other inconveniences caused? Although the inconvenience was caused by the at-fault party, is it really the case that one needs to pay beyond just fixing the damage (ie repairs) now? - assuming straight forward crashes.

    I have had the inconvenience of being crashed into and not having my vehicle while being repaired - I see it just as an inherent situation/inconvenience for operating a vehicle that we all share(? - maybe my ignorance).

  • churningNburning on 16/01/2025 - 14:17

    I have two cars full comprehensive with Shannons. I got a $370 increase, roughly 20%. I can't find a better deal with the agreed value arrangement.

    It sucks, never made a claim, clean driving record. "Here you go, an increase for doing the right thing"

    In saying that seeing the increases yourself and others are getting. I got off okay.

  • plmko on 16/01/2025 - 15:23

    Gosh it's always the same unstable folks around here making these same AI generated forum threads.

    It's like these guys are NPCs and have truely no self-awareness.

  • Nuggetron on 16/01/2025 - 15:35

    I will clarify that if I move from Suncorp the new for old policy goes and it can't be picked up with another insurer.
    So I guess the question is;
    Paying 4 years of new for old, is it worth keeping it just incase something happens and cop the ridiculous rise or do I drop to comprehensive with best value/coverage and accept I've wasted that new for old.

    I will caveat that the new for old is insured on the lowest amount so any significant damage will mean a replaced car so the new comprenhisve plan will need to increase the insured amount

  • radicalvin on 16/01/2025 - 16:14
    +1

    I've never once accepted the renewal notice throughout the years and have mostly jumped from one insurance to another.

    This year, my C200 Budget direct increased from $1050 to $1150, however, managed to drop this to $856 (plus 24k Woolies Points) with Everyday Insurance because I only drive this car less than 3k km annually.

    The M3 using RAC increased from $1750 to $1900, managed to find NRMA and dropped this down to $1100.

    Both insurances are like for like in terms of value, excess, etc

    • Gdsamp on 16/01/2025 - 16:48
      +1

      like for like in terms of value, excess

      Hopefully like for like in terms of service, willingness to pay out in event of a claim……

      • radicalvin on 16/01/2025 - 22:54

        To be honest, in the past 15 years, we’ve made around 10 various claims with 5 different providers and all of them have been great

    • Guybrush57 on 16/01/2025 - 20:37

      Very intriguing that NRMA was much cheaper. Usually they are hideously expensive.

      • radicalvin on 16/01/2025 - 22:52

        Agreed, I was very surprised

  • TEER3X on 16/01/2025 - 17:00

    Move to a safer area.

  • EightImmortals on 16/01/2025 - 18:14

    "It is with Suncorp and on the old for new policy"

    Yeah I had that until last year as well. I ended up just doing an agreed value policy for pretty close to the value of car at a much cheaper premium with someone else. If I had written the car off it would only have been an extra grand or 2 to replace it.

  • xuqi on 16/01/2025 - 19:17

    This makes 0 sense. I insured a new 2025 BYD Seal Premium ($59000) with RAC for $1248.53, and they're charging you $2K for a Kia?

    • JimmyF on 16/01/2025 - 19:21
      +1

      I'm paying more than $1350 for a 10 year old Toyota that's worth $15k at most! So yeah yours seems cheap!

    • Nuggetron on 16/01/2025 - 20:04

      I just got a quote for standard comprehensive and it's 2.1k with Suncorp!
      No at fault accidents on my or my wife.
      I've had 1 not at fault accidents but Suncorp are one of the few who don't ask unless you're at fault.

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