Car Insurance

Collo · Senior Member

Car Insurance

Possum3 · Guru

Collo speak to a broker - they may be able to get a much better deal, for you.

rgren2 · Guru

Ring your insurance company, they often drop the price when you do. They have a look at your policies, the increase is automatically generated.

Collo · Senior Member

Rang a company that advertises regulary on tv. Decided to drop the comprehensive and go third party fire and theft.(the Triton is 14 years old).

Premium reduced from $934 to $315. Saving of $619.

Also decided to sell Triton within the next 12 months.

Collo.

Whenarewethere · Guru

Not only cars, our block of Units had a major increase in insurance (also neighbour block of units, we compare running costs).

The only thing that will affect us is a 7 metre sea level rise. It will happen, but not next year! But it looks like the insurance companies are getting ahead of the game.

Flooding is zero risk due to nature of topography.

Car insurance went up a lot as well. Probably the excuse is sea level rise!

JayDee · Guru

We have all our of policies with QBE. I ring them each time the policies are due and use the "bleeding heart" that we are seniors and struggling to meet our overheads. I tell them that we are long standing customers ( and we are) and I do not want to go seeking a better deal else.
I do end up getting the premiums reduced just above last year.
Pays to ask.
Jay&Dee

Hitting the road · Senior Member

Don't forget to remove the GST and Stamp Duty from your premium when you calculate how much your premium has "increased". The Insurer does not have any say on how much Stamp Duty your State Government rips you ...not forgetting that they then charge you GST on the Stamp Duty!

And also do not forget that Insurers too are paying more for electricity just as we are to run their business, paying ever increasing wages, paying increasing costs for stationary, software and hardware updates. Then of course the fact they are paying far higher repair costs when there is a claim as cars and vans continually increase in price, write offs are far more prevalent due to spiraling repair costs, as well as the inability to repair some damages due to manufacturing methods and costs.

It is unlikely in this day and age that your premium can ever stay the same year on year...

rmoor · Senior Member

"Ring your insurance company, they often drop the price when you do. They have a look at your policies, the increase is automatically generated."

That is until A.I. replaces all call centre staff in time.
There are no wages to be paid to a robot, superannuation, holiday loading etc.

Also insurers should levy premiums on EV's based on their failure rate etc and not spread the cost across all makes and types of vehicles. I believe EV's are cactus once flooded with water and the risk of fire is already well known?

Craig1 · Guru

Insurance Co costs are increasing because they are finding many new ways to deny a claim. A lot of paper and time generated there.

My new proposed premuim has gone up by about 40%, so about to do the dance as well. Value down by about 15k also

Are We Lost · Guru

Most insurers have a department that will offer sweetened deals if you tell them you are planning to go elsewhere.

The benefit of years and loyalty to one insurer is usually eaten away by the loyalty tax.

Loyalty Tax - the opposite of a benefit for loyalty

Craig1 · Guru

I picked Apia for online quote, exactly same value , excess and windscreen, loan car, saved $530 so did not bother to contact my insurer of 20 years. Just went Apia. One other policy with them.

Are We Lost · Guru

I am with Apia, after swapping from NRMA. I had my first small claim in many years. The choice of repairers is a lot less than with NRMA, and I would never willingly go back to that repairer. Something to consider more than just the premium. But the claim process itself was easy and prompt, and I stayed with APIA.

stenno2 · Newbie

I find I have to shop around every year. One company who advertises a lot and apparently wins lots of awards is competitive for the first year but look out when renewal time comes around. Needless to say they absolutely would not win any awards for their premiums then. I would name and shame but not sure what the policy of the site is.