Insurance questions?

[Vision Zetec]

hey guys,
i have a Ford Falcon EBII GLi I6 auto stock except for
- 2.5" sports zorst
- Stereo
- Tinted windows
- Lowered

i am currently with RACV and im 3rd party fire and theft.

they have rated the cars market value at $4000 or $3000, cant remember, but not really the point

the point is THE EXCESS!
-basic excess of $450
-age <25 $1600

do you guys know of any other well know insurance companies that dont have huge excesses?

cheers

-Daniel

[Twisted]

*insurance guy hat on again*

That is a large excess. How old are you exactly? Your main problem will be finding someone to insure the vehicle at all (being modified) not the fact that they will charge you a large excess. If you under 19 you will be looking at anywhere under $1000 age excess, $750 is common.

[Vision Zetec]

im 18, there are not many mods tho, compared to some people!!!

[Vision Zetec]

i just looked up an older policy paper, and that age excess was the same even before i added the mods.
which points to its a policy thing, so im just wondering are there any other companies with better policys regarding excess

[-AL-]

If you're looking at the Excess and comparing to your cars value and saying WTF. Its not the replacement of your vehicle they're worrying about, it is what you hit that'll cost them.
Whats the premium as a matter of interest? If you shop around you might find policies with lower excess but higher premium.

[Yaw]

Mate,
In all seriousness and I know this sounds harsh.
If the car is valued under $5000 it aint worth comprehensive insurance.
Save your money get Third Party Fire and Theft. The exsess will be the roughly round the same, but the premium will be heaps cheaper, Look at it this way, if your car is valued at the best they say is $4000.00, you pay your premium, an educated guess as I am in the insurance industry is at least $1000.00 per year. You pay an excess of $2050 (450 + 1650) that makes an at fault claim a total cost to you of $3050 when you add in your premium. What happens is they write the car off best you get is $950 in your pocket.
(car best value $4000 - $3050 = $950)
Now does that seem worth it to you?
Cut your loses, pay for third party, fire and theft option if you feel that option is applicable to you, you'll have saved $$$$'s.
In a few years your age goes up, your rating gets better and then you can afford comprehensive insurance on a hopefully better car that makes more sense to insure that way.

Cheers

[Vision Zetec]

ummm i dont know where you got it from that im comprehensive but i am already 3rd party f&t, thanks for the tip anyway!

ill check my premium tomorrow

[EFFalcon]

thats insane.
$1600 excess...
i don't think mines even that excessive and i'm with Just car.
double check that because it should be around $800.
$400 standard.
$400 for ur age.

[brenx]

Every policy I have has a ridiculous excess for drivers under the age of 25. I think it's $1600 now (changes insureres) but I'm pretty sure RACV was around the $2000 or so mark. Really can't member.

What annoyed me was you needed to be 25 to have a lower policy price. The year before I turned 25 they changed it to 29! God damn it! We'll I'm home and hosed now. Still paying stupid amounts for insurance. Just not giving it to RACV anymore

[MITCHAY]

Id be more concerned about premium. You only pay excess when you make a claim where as you pay premiums every year. Any insurancy company will always have that sort of excess because you can imagine how many claims they get from under 25s.

Its the premium that differs. Comprehensive is a good idea regardless of whatever car you got even though it isnt likely you will need it but just say it did get written off how many people have a spare $5000 to buy another decent car.

My car has comprehensive and is valued at $4400. I know there is no way in hell id be able to afford $4000 or more to get another car.

[Psycho Chicken]

$1600? Bugger me, looks like I won't be going with RACV now!

[lv619]

We'll i've been with RACV since i was 18 (three years) and the excess has always been $450 + $400 age excess... even when i lowered my car and got the windows tinted etc!!!

Have you increased your excess by any chance to lower your premium?? If your not sure recalculate what your premium should be at their website: http://www.insuranceestimate.racv.co...cartpftpeintro

[pauljh74]

I was with them up till 2000, always around $400 age excess, $400 standard. But when you hit 25 it doesn't make a huge difference. I was paying $700+ for comp ins on an XE Falcon then - I switched to comp when it became reasonable as my rating improved. But in my last year with them, I went from rating 2 and under 25, to rating 1 and 25 years old and the premium only dropped just over $100. I hit 30 and it dropped maybe another $100 on a $900 policy on my current car at AAMI.

[brenx]

I saved myself over $70 per car just swapping over to Esanda insurance (full comp).

EL was $580 racv now $441 Esanda
Mazda $680 racv now 625 Esanda

I'm rating 1 with a no claim bonus and get a free windscreen every year with Esanda. RACV gave me nothing but bills and two dodgey repair cars (My EL and my old 95 Hyundai S-Coupe).

[LuvinmyEB]

I had nothing but problems with the RACV. I was hit by VL Commodore (surprise, surprise!). He didn't want to use his insurance company because his car had just come out of the shop from another accident that was his fault the week before. :

I called the RACV with his details and they refused to chase anything up, I was informed that part was up to me?? Yes, the police were informed of the accident.

When I bought the EB and got rid of the POS Pulsar I tried to cancel the policy only to be told the I needed to send them in a letter from the wrecker that I gave it to, a letter from Vic Roads saying that it was no longer registered or they would continue taking money out of my bank account. So I sent them all the stuff they wanted, three trips to their offices, and countless irate phone calls later it only took TWO YEARS to stop taking the money out of my bank account!!

Then I was told that I'd be back payed 3 months out of that two years they kept taking money. I'm still waiting to hear back from the Ombudsman. :jab:

I hate the b@stards with a passion, lazy, money hungry pr*cks! :SaiyanSmi

[LTDHO]

I thought $1600 was for unlisted drivers under 25. It should be $450 basic and $400 for age.

Anyway I wouldn't stress, I know this sounds silly but excess only applies if ya have a smash. Thousands have up to $2050 excess for the first few years of insurance but don't have any accidents so they never pay it.

Unless you are a bad driver and think you will be smashing your car, I wouldn't worry!

[4.9 EF Futura]

That is a massive age excess... having said this, when you total all my excess up i'm not much better off....

With just cars, 3rd pty prop... $400 standard, $400 age, $400 for modifications (but there's quite a few mods ticked off on the list, not sure if the mod excess applies to suspension/mags/tints)

[Pilch]

Originally Posted by lv619

We'll i've been with RACV since i was 18 (three years) and the excess has always been $450 + $400 age excess... even when i lowered my car and got the windows tinted etc!!!

that is absolutely correct! you must have changed your excess to get a cheaper premium OR they are ripping you off when you make a claim :togo:

[plrgrs]

try Suncorp Insurance for Third party.

$230 per year
$1100 excess

Basically no-one is insured with them in VIC, so you can get a real good deal.

[EFFalcon]

Originally Posted by 4.9 EF Futura

That is a massive age excess... having said this, when you total all my excess up i'm not much better off....

With just cars, 3rd pty prop... $400 standard, $400 age, $400 for modifications (but there's quite a few mods ticked off on the list, not sure if the mod excess applies to suspension/mags/tints)

sounds like mine.
i like this part..
i told them i changed the cam in my engine, the guy sounded REALLY suprised..
at the time i added the change of diff, exhaust, extractors, filter, and cam... they said it'd be an extra $10 a year..
no probs.
then i ask how much extra i'd have to pay if i turbo'd it.
the guy just calmly says 'no extra' ...
cam's a big deal, turbo's not.. i'm happy with that

[EFPWR]

With AAMI I pay $400 + $450 for age.

The yearly premium is roughly $390

This is for 3rd party, fire & theft

[4.9 EF Futura]

Originally Posted by EFFalcon

sounds like mine.
i like this part..
i told them i changed the cam in my engine, the guy sounded REALLY suprised..
at the time i added the change of diff, exhaust, extractors, filter, and cam... they said it'd be an extra $10 a year..
no probs.
then i ask how much extra i'd have to pay if i turbo'd it.
the guy just calmly says 'no extra' ...
cam's a big deal, turbo's not.. i'm happy with that

Heh, yeah my 3rd pty property premium went up $8p.a. with the addition of the blower and all the other stuff that goes with it which must be disclosed... BOV, air filter mods, chip, gauges etc...

Comprehensive a different story all together... I guess the stats must show you're more likely to hit a tree as opposed to another car after these mods...

[Vision Zetec]

ok my current premium is

$300 (without me being listed on the policy)
and at that price the excesses are

-basic excess of $450
-age <25 $1600

if i get added to the policy the premium goes up to
$550
the excesses then would go to
-$450 standard
-$400 age

ok i think now ill get a list of all the insurance companies to ring up and see if i can get a better deal, because my repayment for my RACV insurance is up next month

so ill start off the list, could you people please add to it

-Just car
-Esanda
-NRMA
-Suncorp
-AAMI
-

[AdzT3-146]

$ 1600 excess? no way.

im with just cars and my excess is $850 with all mods listed and under 25.

[EFFalcon]

get added to the policy lol!

[Vision Zetec]

lol yep iv just been added!

[a-total-tool]

I am currently insured with NRMA and I think I got a pretty good deal

Premium: $1192.60
standard excess: $400
age excess: $500

Agreed value: $8500

The car is an EF Futura with $1500 stereo and $1000 wheels. I have disclosed everything to them: I am 18, had an at fault accident, speeding fines and loss of licence. I am the only person on the policy
Your excess is a bit harsh because you were not listed on the policy. Was the insurance company notified that someone under 25 drives the car?
If not, they give a lower premium but put that harsh excess on the policy.