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Tips To Lower Vehicle Insurance Premium

kreitosune
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kreitosune Rookie

kreitosune

Posted
Posted

Vehicle insurance premium rates play major role in determining how much it will cost a person to drive his car in every month. People often end up paying 10% more than what amount they should spend their vehicle insurance.

Are there any more tips to Lower Vehicle Insurance Premium ???? other than searching on Google!!!

Leroy Peterson Grand Master

Leroy Peterson

Posted
Posted

depends on who you're with.

I know Just Car dont care if you have an alarm system or immobiliser fitted. While a guy i know who is with Shannons has a garage and he chains/straps his cars down to the concrete floor to reduce his premium.

sydking Veteran

sydking

Posted
Posted

depends on who you're with.

I know Just Car dont care if you have an alarm system or immobiliser fitted. While a guy i know who is with Shannons has a garage and he chains/straps his cars down to the concrete floor to reduce his premium.

well they wont insure you with out an aus std 3 point immobiliser.

jjman Mentor

jjman

Posted
Posted (edited)

sadly lowering insurance premiums is largely pre-emptive.

Work out what it is going to cost before you purchase and use ur brain. Age and driving history are your two biggest equations, otherwise where u live does matter too.

Beyond that count on the premium rising over time, just like everything else in this world, and count on it rising alot if u f*k up and have to claim.

Now work out if u are comfortable with all this/able to afford that car and insurance.

Pretty simple.

I waited till i was 25 plus before getting a big sportsbike and 30+ before getting a sportscar.

Did i want one earlier? f*k yeah, of course. But did i realise it would have been damn stupid to get one then. Damn straight, so i didnt. I waited until it was a reasonable equation of costs as well as having the money to buy the vehicle outright n not put myself into debt over something unneccesary.

The amount of crew iv met with massive loans just to get a 'fully sik car' and then also having to pay 2k plus a year in insurance astounds me for a multitude of reasons.

Edited by jjman
sydking Veteran

sydking

Posted
Posted

sadly lowering insurance premiums is largely pre-emptive.

Work out what it is going to cost before you purchase and use ur brain. Age and driving history are your two biggest equations, otherwise where u live does matter too.

Beyond that count on the premium rising over time, just like everything else in this world, and count on it rising alot if u f*k up and have to claim.

Now work out if u are comfortable with all this/able to afford that car and insurance.

Pretty simple.

I waited till i was 25 plus before getting a big sportsbike and 30+ before getting a sportscar.

Did i want one earlier? f*k yeah, of course. But did i realise it would have been damn stupid to get one then. Damn straight, so i didnt. I waited until it was a reasonable equation of costs as well as having the money to buy the vehicle outright n not put myself into debt over something unneccesary.

The amount of crew iv met with massive loans just to get a 'fully sik car' and then also having to pay 2k plus a year in insurance astounds me for a multitude of reasons.

Pretty sad when you let price of insurance stop you form getting the car/bike/anything you want.

Settle with fire and theft, not at fault you will get paid out no matter what. If its a weekend warrior and not driving in constanst heave traffic it would work im your favour.

Even if you do have full comp, SOme prick does a hit an run, Or there not even insured, Your still coughing up your excess to pay for it, ANd half the time the excess is double the price of the damage.

Nibibo Collaborator

Nibibo

Posted
Posted

Might aswell not have full comp to begin with, They dont and wont have to pay out if you dont disclose it.

Don't do that.....

If you get involved in an accident, you won't be covered because you broke the agreement.

GTR-N1 Grand Master

GTR-N1

Posted
Posted

Thinking outside the square, if some hobby of yours can viably become a profitable business, you're allowed a business car in most cases.

If so, your expenses including insurance, registration, modifications and fuel up to a certain percentage (depending on what you've logged as pertaining to business) becomes tax deductible.

Ideas bubbling up?

Precaution:- Unless your business plan is foolproof, lots of businesses might not survive in this climate.

Pity that Famous Insurance and Guild Insurance who used to insure grey imports, no longer do. Competition has become somewhat limited. ;)

SiNNO Experienced

SiNNO

Posted
Posted

Not really a tip, but the premiums are also largely based on the suburb where your car is kept.

Had an online quote for $2500 premium on my skyline a few years back, I decided to change it to a suburb that was about 15km's away, price was reduced by ~$800 lol.

nomnomv8 Rising Star

nomnomv8

Posted
Posted

Might aswell not have full comp to begin with, They dont and wont have to pay out if you dont disclose it.

Don't do that.....

If you get involved in an accident, you won't be covered because you broke the agreement.

In the case of an accident or claim it usually takes the assessor a few days to actually look at the car, thats after you have already dropped it off at a panel shop of your choice *hint hint*.

They arent exactly going to be opening up your engine and seeing wheather you have cams, gears, pistons, injectors, fuel pump etc modifed.. Secondly how hard is it to swap out a ecu and rip out a boost controller - 5 minute job? Coilovers?? And these are amongst the first things they look for. As long as your running low mounts (talking about GTR's in particular as even with upgraded turbos the most you can make out is an actuator whilst looking at the bay) you will be fine.

Might not be everyones cup of tea but thats my justification ;)

nick_7g Proficient

nick_7g

Posted
Posted

In the case of an accident or claim it usually takes the assessor a few days to actually look at the car, thats after you have already dropped it off at a panel shop of your choice *hint hint*.

They arent exactly going to be opening up your engine and seeing wheather you have cams, gears, pistons, injectors, fuel pump etc modifed.. Secondly how hard is it to swap out a ecu and rip out a boost controller - 5 minute job? Coilovers?? And these are amongst the first things they look for. As long as your running low mounts (talking about GTR's in particular as even with upgraded turbos the most you can make out is an actuator whilst looking at the bay) you will be fine.

Might not be everyones cup of tea but thats my justification ;)

Ridiculous. The risk/reward is off the charts bad. Save $500-1000, and risk losing $50-80k on the cost of your car, not to mention fraud if you're caught.

I'll stick with full disclosure.

sydking Veteran

sydking

Posted
Posted

Wouldnet go as far as calling it fraud, It just simply gives them a reason to to pay out, End of they day. They are a busines. They are there to make money and pay wages.

Fair enough theres a few things you can swap over in the event of something happening, But good luck swaping over coilovers if you been hit in any of the corners.....

What is the deal with using coilovers? They need to be welded so not ajustable to be legal?

The legality of them baffles me....

zebra Grand Master

zebra

Posted
Posted

In the case of an accident or claim it usually takes the assessor a few days to actually look at the car, thats after you have already dropped it off at a panel shop of your choice *hint hint*.

They arent exactly going to be opening up your engine and seeing wheather you have cams, gears, pistons, injectors, fuel pump etc modifed.. Secondly how hard is it to swap out a ecu and rip out a boost controller - 5 minute job? Coilovers?? And these are amongst the first things they look for. As long as your running low mounts (talking about GTR's in particular as even with upgraded turbos the most you can make out is an actuator whilst looking at the bay) you will be fine.

Might not be everyones cup of tea but thats my justification ;)

Thats all well and good, but what happens when you are carted off to hospital for a week and the car gets towed straight to the insurance assessor's shop

big risk

GH05T Grand Master

GH05T

Posted
Posted

Females get cheaper insurance,

If your insured for more than one person do the policy in the wife's name, do an open policy where she is te insured but anyone can drive the car.

Market value allot of people pay or but don't realise this doesnt hold the agreed value afte a certain point so became full what your paying for.

Do a defensive driving course and let them know this might help.

If your old enough do a names driver policy or do restricted policy.

Upping your excess can lower the policy by the same amout so your ahead untillyou claim at whih point your no further behind.

Sometimes paying for a rating one pretection can lower your primium and obviously safeguard you if something does happen your not going to get raped.

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