Insurance

Jaidyn

Jaidyn

New Member
After cheap 3rd party insurance for under 25 but having serious trouble getting a reasonable quote. Some companies want over a $1,000 just fr thirdparty even tho i put down I’d be driving less then 5000 a year.

If it wasn’t for the 3 inch exhaust It would be $250-400 but my vehicle is listed as “high powered”.
Anyone know a company that doesn’t see it like that.

I’m a reasonable driver and I treat my rig with nothing but respect because I paid every cent of it.
Only reason I’m bothering is in case I run up Tom dick and Harry’s ass and he just picked up his brand new Lambo.
 
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madmonk

madmonk

Active Member
From the little bit of googling I did, males in the 17-24 age bracket are involved in a disproportionately high number of crashes hence why the premiums are greater. Insurance companies use these "risk" tables in order to make shrewd business decisions to the benefit of their shareholders; not the policy holders.

For example, I live in Bungendore, NSW and pay more for insuring my vehicles that if I lived in Queanbeyan (a much larger town only 20 minutes away) only because of the large number of roo strikes in my area causing a spike in insurance claims. Even though I have never hit a roo since I moved to Bungendore, this doesn't change the risk rating for my town.
 
Jaidyn

Jaidyn

New Member
madmonk said:
From the little bit of googling I did, males in the 17-24 age bracket are involved in a disproportionately high number of crashes hence why the premiums are greater. Insurance companies use these "risk" tables in order to make shrewd business decisions to the benefit of their shareholders; not the policy holders.

For example, I live in Bungendore, NSW and pay more for insuring my vehicles that if I lived in Queanbeyan (a much larger town only 20 minutes away) only because of the large number of roo strikes in my area causing a spike in insurance claims. Even though I have never hit a roo since I moved to Bungendore, this doesn't change the risk rating for my town.
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I fully get that they go by charts and stuff it’s just I don’t agree that my insurance quotes are 3x-4x more depending on the company just because of the exhaust even tho iv stated itl just be a weekeneder.
Third party all they take into consideration is what type of driver you are, how much you drive. I get that I won’t get insurance as cheap as over 25 year olds because I don’t have the expiriance but it’d be nice to have a fair quote as if the exhaust was just a small or medium upgrade if that makes sense?
 
C

Crashtastic

Member
Jaidyn said:
I fully get that they go by charts and stuff it’s just I don’t agree that my insurance quotes are 3x-4x more depending on the company just because of the exhaust even tho iv stated itl just be a weekeneder.
Third party all they take into consideration is what type of driver you are, how much you drive. I get that I won’t get insurance as cheap as over 25 year olds because I don’t have the expiriance but it’d be nice to have a fair quote as if the exhaust was just a small or medium upgrade if that makes sense?
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My understanding is most insurance companies don't differentiate with mods - a 3" exhaust is just classified as a "perfomance modification". So while it doesn't really buy you any extra power, they don't see it any different as bolting on a big turbo and oversized injectors.

Some companies may differentiate, but good luck finding any that won't charge you an arm and a leg for being under 25.

Can you have a relative, like a parent or older brother, listed on the policy? I have a workmate who drives a Mustang who saved a few grand by having his Dad on the policy (My workmate is still listed as the owner and primary driver)
 
Paddler Ed

Paddler Ed

Well-Known Member
3rd Party also reveals you to be a slightly higher risk because you perceive that you may damage someone else's property - you might find it cheaper insuring fully comp with a specialist insurer (but probably not Club4x4)
 
Spooner

Spooner

Well-Known Member
Jaidyn said:
Only reason I’m bothering is in case I run up Tom dick and Harry’s ass and he just picked up his brand new Lambo.
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And even if you do have full comp insurance unless you car is 100% legal the insurance company will deny your claim , so its a double lose in that case ;)
 
Muddled

Muddled

Member
Im under 25 and pay around 1k a year for comprehensive on a new vehicle and paid about the same on a heavily modified Land Rover a couple years ago.

Maybe shop more insurers unless you have past history. 1k for 3rd party property seems too steep.
 
Blue_haired_man

Blue_haired_man

Well-Known Member
Back in my younger days I had an old crap box laser and the funny thing was it was actually cheaper with one insurer and the same price for another for 3rd party vs comprehensive policies.
Cheers
 
CaptainBanana

CaptainBanana

Well-Known Member
That sounds steep...you say you're a reasonable driver, so they agree? How many incidents have you had in the past 5 years?

As for your exhaust dilemma ... Even though I've never heard an increase for just an exhaust diameter the obvious solution is to remove it, since its not high powered it's making no difference to your car other than presumably letting you hear the turbo spooling because it has no mufflers right?
 
CaptainBanana

CaptainBanana

Well-Known Member
3rd party even for under 25s is generally quite affordable on many.makes and models...I feel there's some driving history here he's not telling us.
 
CaptainBanana

CaptainBanana

Well-Known Member
Albynsw said:
Your location has a huge difference on the premiums you pay as well
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It does with comprehensive as the risk is that you will crash your own car or it be stolen/destroyed but 3rd party without fire and theft cover makes it a very comparable product even with many variables at play, driver's license and crash history will matter though.
 
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CaptainBanana

CaptainBanana

Well-Known Member
How about this, the poster provides his actual age, car make, model, year and how many years he's driven and I guarantee I find a policy that comes back substantially less than 1k even with mods IF his driving and accident history is clean.
 
Jaidyn

Jaidyn

New Member
CaptainBanana said:
3rd party even for under 25s is generally quite affordable on many.makes and models...I feel there's some driving history here he's not telling us.
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I’m 17 and cause I live in vic I can’t get my Ps till I’m 18... haven’t had a single bingle or speeding ticket. Haven’t been pulled over, breathallised had 0 incidents.
 
CaptainBanana

CaptainBanana

Well-Known Member
Jaidyn said:
I’m 17 and cause I live in vic I can’t get my Ps till I’m 18... haven’t had a single bingle or speeding ticket. Haven’t been pulled over, breathallised had 0 incidents.
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And your postcode is?? What's the car?? Why being evasive?
 
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