Insurance

[jastra]

Hey guys almost time to renew insurance. looking at about $1600. now my question is if the insurance is in my dads name it is about $500 so if i were to do that and i had an accident it would still be covered as long as an unnamed driver excess and age excess is paid? because this would work out a hell of a lot cheaper if nothing happened and if something happened insured as myself. cheers

[guy 27]

Find out what it will cost to have your name on the policy as well.

Some of the companies are now allowing you to increase your excess but reduce the premium costs. This might be another good alternative for you.

[jastra]

yeh thats what i did its ~$1600 premium with a $1950 excess!

[guy 27]

thats alot.

when i was 18 and the astra was 3 years old (same scenario as you) I had a $1500 premium and $900 excess. I was the policy holder and also had cover for any driver over 25.

Maybe try ringing around every insurance company out there and see who will give you the best deal with either you as primary or your dad with you as a nominated driver.

[jastra]

ive called around and some have said they wont insure me becasue even tho im nominating my dad as a driver the underwriter said it is likely that my dad wont be driving the car. its cuz i have mods so its either aami or just car that will actually cover me. quote above was just car i think aami was ~$1300 with a $1400 excess

[mmahle]

Dont insure the mods.

[jastra]

Dont insure the mods.

But then if I crash I won't be insured...

[gmonkey]

grey area mate... non of ur mods should prevent u from being insured but its only mods like turbo chargers and the like... but if u feel that say your sway bar will void have an accident and just take it off non the wiser really... (shouldnt be un-insurable but by anymeans)

my car is insured with RACWA for $24k and ive told them only about my wheels, lowering, exhaust and bodykit (only the wheels and kit are on the policy but) my premium is just over $600 a year with a $500 excess.. all in my name with no other policy holders and 3 additional drivers.

[liam]

Ok from someone who has just gone through the whole write off insurance claim situation!

Im with AAMI, mum is the main insurer and Im a FULLY NAMED (make sure its fully named not partial) driver. AAMI's policy for p plate drivers is that, premiums are the same for the policy holder with no surcharge for the younger drivers ie for me my mum is the policy holder. Mums excess is $500, mine goes up to $1750.

High excess sounds bad but you save much more over a couple of years with the much much lower premiums (my cd 5dr was $545 a year!)

Not to appear a fanboy of AAMI or anything but they were very quick with my insurance. I crashed wednesday night of week one, claim was filed the thursday following. Because we're "rural" we had to wait till the following wednesday for the car to be inspected as it was a suspected writeoff (had i crashed tuesday night it would have been done a week sooner!) paid out on the tuesday after no questions.

[jastra]

i see, i was thinking of going with aami anyway. what i like about aami aswell is they dont change ur premium cuz of modifications they just add a 100$ excess. so essentially what ur saying is that your premium was as if you mum was the only driver? and it would be just a higher excess for you?

[liam]

exactly right, i notified them of mods too and had no surcharge and no raise in my excess! (alloys, lowered, sound system, air filter)

[kirssn]

Hey guys almost time to renew insurance. looking at about $1600. now my question is if the insurance is in my dads name it is about $500 so if i were to do that and i had an accident it would still be covered as long as an unnamed driver excess and age excess is paid? because this would work out a hell of a lot cheaper if nothing happened and if something happened insured as myself. cheers

whose name is this car registered in???? if it's registered in your name... then under insurance legislation it cannot be insured in your dad's name.....

simply put, you're not allowed to insure a vehicle you don't own.....

in relation to telling an insurer or not telling an insurer about your mods/accessories....under your duty of disclosure, you are required to be telling your insurance provider/quoter of all mods/accessories on your vehicle - anything that is not a factory or standard item on the car.

reason being....if for example you opt to not tell the insurer about a suspension mod, it does actually give them grounds to reduce or refuse to pay a claim even if that mod does not appear to have caused an accident to occur......

from another perspective, if you actually tell the insurer about all mods and accessories, you might find your coverage - ie value - may actually be better than what it would be without notifying them. ie - my 04 TS SXI is currently insured for $15k (insurance guide is $12k and resale value less than 10K) - they are aware of the mods/accessories it has and have made sure that i'm covered properly... same deal with my VNSS - the supercharger, the custom plenum, the nitrous etc... all listed on my policy..... been reviewed by the insurer and they have it covered for $45k....

so think long and hard about what you really want to achieve out of insurance...... falsify it and you may come really unstuck.....

[jastra]

well its regstered in my dads name... do looks like i cant insure in as myself then. also i agree with the mods thing i dnt want to get screwed over lol

[poita]

Kirssn who are you insured with?
Quite intersted the fact they will insure those mods



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[kirssn]

Kirssn who are you insured with?
Quite intersted the fact they will insure those mods



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Shannons

it works like this.... provided the mods are legal, they'll cover it in the event of an accident/claim where the mods are found to be the cause of the claim... so in the instance of my VN SS being hit by a third party, because I'm not at fault, all repairs would be covered on my car however, if i lost control of the car and they found it to have been an at fault claim caused by my suspension being too low then they would have grounds to reduce or to refuse to pay my claim (which i have add it's not too low because we got defected at the nats this year and raised it back up 3 mm)

we have listed everything thats been done to our cars because you have to look at it from another side - if i get home from work today and the garage has been broken into and the 3 nos bottles have been taken from the cars along with whatever else, my insurer, because they were aware of my mods will allow me to make a claim to 'repair' (in this instance replace the stolen car parts) the vehicle.

i've got 5 cars plus H&C and all my CTP's with them.

[jastra]

I see :p shannons won't insure me :p

[hazrd]

I see :p shannons won't insure me :p

Jason B (http://www.opelaus.com/forums/member.php?4511-Jason-B)
Age 18



theres your problem :p
well, shannons do insure under 25's, but u have to call, because its a case by case basis afaik

[poita]

thanks for the reply kirssn, gives me an idea

[kirssn]

I see :p shannons won't insure me :p

maybe you should go do some advanced or defensive driving courses.....

ian luff is a good place to start...

maybe you should look into a cams license as well.......

;)

[jastra]

im going to do a defensive driving course, and ill look into the cams license.

[kirssn]

ian luff..... might be a little costly BUT it'll work in your favour...

[jastra]

do we have that in perth tho?

[nigelh]

The only one I know about in wa is the RAC driving centre.

[Shay]

Jason B (http://www.opelaus.com/forums/member.php?4511-Jason-B)
Age 18



theres your problem :p
well, shannons do insure under 25's, but u have to call, because its a case by case basis afaik

shannons were willing to insure me.


im going to do a defensive driving course, and ill look into the cams license.

dont do defensive, do the Performance Drinving Course offered at RAC driving centre.
i wouldnt get CAMS unless you're going to use it...

[MatsHolden]

Hey guys almost time to renew insurance. looking at about $1600. now my question is if the insurance is in my dads name it is about $500 so if i were to do that and i had an accident it would still be covered as long as an unnamed driver excess and age excess is paid? because this would work out a hell of a lot cheaper if nothing happened and if something happened insured as myself. cheers

You MUST be listed on the policy, otherwise you will have no coverage. Regardless of if the insurance is in your dad's name, if you are listed as a driver the premium will be higher than the $500.

The unamed driver excess and age excess is generally fine for occasions for where the car has been used occasionally by a person unamed on the policy, however you are talking about using the car as the primary driver... in this case if the insurance company can prove that you are actually the primary driver of the vehicle, they can void the coverage for the car.

Not worth the risk.

I remember when I was first trying to get insurance for my car, I wanted to do what all my mates were doing and insure it under my parent's name to save 1000 odd dollars, being young and naive. However having a dad who is an insurance assessor, I had the sense knocked into me and paid up. Best to keep it all above board... don't want to have a black mark against you in regards to any form of insurance fraud as it will make insurance in the future very very difficult to obtain.

[liam]

You MUST be listed on the policy, otherwise you will have no coverage. Regardless of if the insurance is in your dad's name, if you are listed as a driver the premium will be higher than the $500.


Not true, will ofcourse depend between insurers but as i said. With AAMI mum is the policy holder but I an listed as a named driver, i can drive as often as i wish. Under the "named drivers" column on my policy paper my name sits stating me as a full driver.... premiums were $550

[MatsHolden]

Not true, will ofcourse depend between insurers but as i said. With AAMI mum is the policy holder but I an listed as a named driver, i can drive as often as i wish. Under the "named drivers" column on my policy paper my name sits stating me as a full driver.... premiums were $550

As you say, it depends on the insurer and the policy.
I tried to get listed on my dad's insurance (AAMI) as a nominated driver (not primary) to drive his car (AH Turbo) and the premium increased as expected.

[jastra]

dont do defensive, do the Performance Drinving Course offered at RAC driving centre.
i wouldnt get CAMS unless you're going to use it...

thats the one i meant :P

[kirssn]

shannons were willing to insure me.



dont do defensive, do the Performance Drinving Course offered at RAC driving centre.
i wouldnt get CAMS unless you're going to use it...

are you aware that if you have a cams lcense, with shannons it actually works in your favour????? as in it would appear to give you a better chance of insurance with them as well as possibly a discount....

thus my suggestion.....

[Shay]

are you aware that if you have a cams lcense, with shannons it actually works in your favour????? as in it would appear to give you a better chance of insurance with them as well as possibly a discount....

thus my suggestion.....

yeah im deffinately aware of that, but i have similar modifications to Jason, and dont have a second car, and are similar age....
basically our insurability is very similar.

i dont have CAMS, and Shannons were still willing to insure me.

however i might not go with shannons as they will not give me a high enough agreed value. everyone else will cover me for 8-9K shannons will only cover 6k

i dont believe it is worth the extra 100 bucks to get a CAMS to be insured by shannons, especially if you do not intend to compete/attend CAMS events...

[Vectracious]

as Mat said, best to keep it above board - yes its exxy, but it would be a lot worse if you're in an accident and find out you're not covered and then you're up for a lot more.

as someone else said as well - AAMI have flexi premiums so you can bump up your excess to reduce your annual premium - just drive carefully so you don't have to pay it out!!!

[kirssn]

yeah im deffinately aware of that, but i have similar modifications to Jason, and dont have a second car, and are similar age....
basically our insurability is very similar.

i dont have CAMS, and Shannons were still willing to insure me.

however i might not go with shannons as they will not give me a high enough agreed value. everyone else will cover me for 8-9K shannons will only cover 6k

i dont believe it is worth the extra 100 bucks to get a CAMS to be insured by shannons, especially if you do not intend to compete/attend CAMS events...


there are reasons that they don't insure cars for the same values as other insurers - at the same time though.... talking to the right person helps... as i've said previously, 04 TS SXI insured for 15k because I spoke to the right person.

read the fine print in the pds' for other insurers and you'll work out why.

[mmahle]

But then if I crash I won't be insured...

I'm insured with RACV, I've told them I've had cosmetic mods, but they said as long as they don't enchance the performence of the car, I don't need to put them on, if I have an accident, I just get the market value for the car. Which is fine with me...

I pay around $900.

[UNEEQ]

I'm with RAC, I pay $923.23, but this was quoted in January, and the system screwed up and gave me the last years premiums (which they honored since I had a printed quote from them!). EDIT: My agreed value on the car is $30,000

There are differences with policies, for example, at the moment noone under my age can drive unless I call and change the policy. If Kyllie were to be added, because the policy is in my name, it's my no claim bonus on the line regardless of who the driver was at the time. This is a bit of a raw deal if you ask me. I'm unsure if that would change if she was fully named, if RAC do indeed differentiate between these, but might be something you want to check out. You'd probably hate to have an accident at fault and lose your Dad's NCB.... "Sorry Dad, but you know your $400 premiums on your own car and the $500 on mine... Well, that's going back up to $1100 and $1600 coz I was: not concentrating/too close" ... Even more bitter if it's coz some idiot behind you smashes you into the car infront.

There are a lot of options out there. If you don't mind the reading, and giving out all your details a million times, ask a few places for their PDS and actually read it (It's major boring sh*t, but it can be worth it), eg. My policy does not cover items travelling in my car where it is not my fault, and they will not represent on my behalf with the other insurance company. If I'm at fault, they will only cover up to a certain value in certain circumstances. It's up to me to have another policy in place for items which I may have out of the home on a regular basis (such as a laptop). I guess this is how they make more money! Fortunately, any ITC related products in my car are fully covered by a policy my work holds. By fully, I mean that in a lot of cases, the insurance company will cover the depreciated value of the goods, so if it's a complete loss of the item, you won't get it replaced for the amount they pay out.

The moral is, sometimes it's not just worth looking at the premiums and wanting the cheapest. "Low cost" is good, but you wouldn't expect to get a BMW for the price you can get a Hyundai. There are differences with insurance products too and quite often major and destinctive ones!