Revolver

First, a disclaimer - I know there's been insurance threads before but I'm feeling too lazy to find them - so no finger wagging okay.

I've been insured with AAMI and it's renewal time.

They've set a premium of $1,612 for 'agreed' value of $46,300 and excess of $500. Car is '04, always garaged in boring safe suburb, no under 25 drivers and I'm 35. No FI mods either.

Whaddayareggon guys? Seems to me I should be getting charged $1,200ish, not $1,600.

BTW, I have max no claim bonus and the only two previous claims were minor, no fault stuff.

Gomez

Mate, just went through all this.

My premium is $1400 odd with GIO. I tried everywhere. Suncorp, AAMI, CGU, Just Car, Shannons etc etc.....no premium reduction joy.

By comparing rates online and varying the locality (ie, punching in Wagga, instead of rich bayside northern Sydney suburb....) you'll see a MASSIVE drop in premium.

I'm rating one, full license points, and my premium would've dropped by $800 if I lived up bush.

They have us city dwellers by the short n curlies, I'm afraid.

mikeyr

Dave,

I did quite a ring around. I could shop for Australia...really. We have the MG with Shannons and house with Suncorp. Best offer i got was in the 1400's.

I ended up with AAMI, then took advantage of the excess top up (reduce premium button on the online form or ring them). Ie added 1500 to the excess which takes it to $2000. My rationale is the premium drops 50% down to 800ish. So risk payback is 2.5 years.

I really want insurance for when i either screw up badly and total something, or get cleaned up (not my excess then), or car stolen. I can afford the extra 1500 bucks regardless.

Plus they valued the car at $46+ (agreed value) which is more than what i paid plus the $2k

Reckon it's worth the punt.

Mike

Super8

Hi,

Just to let you know that I am with AAMI my car is insured for $49,500 and I'm only paying $828 with $1200 excess.



I took the more excess option as I've never had to claim before and do not expect to (fingers crossed).

Cheers

Chris

mikeyr

Damn the gong's still country then!!! Cause i fit the "old fart dull profile", risk factor slightly less than Madonna ever looking good in lycra again. ( or ever?)

Revolver

Thanks guys and sorry 'Mez for reinventing the wheel on this.

Hadn't thought of the old increased excess trick. Might be worth a look.

I wonder at the value of telling them about mods. Which of the following mods do you think are worth including in the policy:

1. sways

2. catback

3. short shifter

4. rims

mikeyr

Rim's definitely.......and congrats by the way, you want them covered.

Didn't bother with the others, you could be the first to ask! LOL!!!

thai

I'm currently with AAMI and paid $960.00 with and agreed value of 57,500.

thai

BTW, my excess is $400.

Revolver

Do you have a "only drive it once a year down the driveway" clause?

Oh, hang on - you enjoy the Canberra discount - everyone knows nothing ever happens in Canberra.

Gomez

GIO will take anything that is legal. They just want to know so it can be calculated into the quote.

Gomez

The muffler is a muffler is a muffler. Same for the shifter.

They'll be interested in the wheels and the suspension mods.

Revolver

Agreed re: catback and shifter.

Assuming I'm not too worried about recovering the value of the sways (neglible cost), do you think it is incumbent on me to advise these mods anyway?

Gomez

No no no, don't apologise! When I said I just went through this, I meant I had just recently tracked down some insurance. I didn't mean I had just posted about insurance prices.....

Gomez

They'll want to know because it's something that may indicate you're an increased risk. You withhold that sort of info at your own risk.

Revolver

Well, I've adopted the Mikey excess plan.

Have increased excess to $2,050, added $2K to the agreed value (now $48,300) to cover the approximate cost of the rims ($2,500 really but $2K flat is near enough) and premium has dropped to $814. Happy days.

Interestingly, the difference in premium from agreed value of $46,300 to $48,300 was only $8 with the bigger excess. A no brainer if you think they've undervalued the car (this isn't an invitation for people to comment on whether or not I've overvalued the car ).

Gomez

You two blokes drive grey cars. No-one is gonna wanna steal them. You should be entitled to a decent premium reduction. $800 off ain't enough.......

timbo

Hmm...given Thai has already posted...and he's younger than me....no, you really don't want to know what I pay, for a higher agreed value and lower excess...red car, too

xxup

Yep - I am cool with that! Did I also mention our invisiblity to radar?

mikeyr

Nice one little boy blue.....

You know where you can put the horn!

thai

Revolver, maybe you should consider moving down to Canberra to save some $$$$.

Revolver

Only if someone pays me to do it!

thai

Only kidding we don't want another gun wielding maniac in canberra. I've got that role.

Revolver

Who says I'm a gun wielding maniac?

Was it you? Are you tallking to me?? Were you talking to meee??!!



I think my nick and avatar mislead a lot of people. Never have and never will own a firearm. The simple fact is that I own a 'gun' car (that is gunmetal grey in colour) that revs beautifully and is based on the Evolv concept car - geddit? Oh well, it made sense to me and there's too many Dave's in the world anyways.

BTW, always loved that T-shirt on the big mean dude in Happy Gilmore (see lounge discussion) with the nail sticking out of his head - "Guns don't kill people - I kill people!"

thai

I'm trying to convince my wife to give me $7000 so I can get a mazdasppeed full body kit from japanparts. I think that will increase my insurance too.