Is It Just Me Or Have Insurance Premiums Skyrocketed?

[ras1983]

I've been thinking about getting another GTR and have been trying to get some insurance estimates. At the moment it seems Shannons and Just Cars are the only ones willing to insure imports (haven't tried Lumley SV yet). When I had my R33 several years ago (albeit I was living in Vic at the time), a comprehensive policy with Shannons was $1600ish per year for a Rating 1 driver, and a R34 wasn't that much more. I recently got a quote for a Vspec 1 R34 GTR from shannons and they wanted $4.7K!!! Just Cars were offering $3k+. This is for a 29 yo male, no traffic infirngements within the last three years, one theft claim (car was recovered but written off), living in Parra (yes I know that adds a bit to the premium).

What sort of insurance premiums are you GTR owners paying and with whom are you paying it? I want to know if it's just me that is facing ludicrous premiums or if it's a common thing these days?

Ray

[ianjb]

This is for a 29 yo male

isnt it 30 not 25 now for the ridiculous prices?

[34GeeTeeTee]

I'm driving a modified 34GTT and the price is still around $1500... Just Car has always been good.

[ras1983]

isnt it 30 not 25 now for the ridiculous prices?

Dunno mate, you might be right. If that's the case, and knowing my luck, the magic age will be 35 once I turn 30 next year. I just can't believe some of the quotes and am looking to get an idea of what other NSW members/owners are paying.

[ras1983]

I'm driving a modified 34GTT and the price is still around $1500... Just Car has always been good.

How old are you, Matt?

[ianjb]

I pay about 127 a month or so with NRMA. Have multi policy and 60% no claim. so about $1300

This is the best cover they have. Don't know why i went with it all though.

A fool and his money are quickly parted.

[nomnomv8]

$1800p.a for a R34 GTR - with an excess of $3050 (JustCar)

[Hadouken]

$1400 here, r33 gtr (justcar) standard excess

Under 25

[34GeeTeeTee]

How old are you, Matt?

29 (old kent)

$1400 here, r33 gtr (justcar) standard excess

Under 25

Get an NPC!

[Seano350GT]

$2200 a year through RACQ ;/

[Hadouken]

Get an NPC!

Shhhh.....

Anywho, the amount i actually pay and my quoted amount on the website is completely different.

My quote on their website is about 2.2k.

Maybe should call them

[nomnomv8]

Anywho, the amount i actually pay and my quoted amount on the website is completely different.

Found this to be true however for me it was the other way around (website was cheaper than phone)

[wedge_r34gtr]

r34gt rvspec full comp with just car ~$2100, $2000excess -24yrs old (now 25, but insured before my bday). no accident/theft/claim history

it was ~$2300 last year when i was 23.

this was for forster/newcaste, so 3k sounds about right for parra.

Edited September 11, 2012 by wedge_r34gtr

[ras1983]

r34gt rvspec full comp with just car ~$2100, $2000excess -24yrs old (now 25, but insured before my bday). no accident/theft/claim history

it was ~$2300 last year when i was 23.

this was for forster/newcaste, so 3k sounds about right for parra.

I guess I'll just have to suck it up and deal with the high premium when the times comes :-(

[evil_weevil]

doesnt matter what these guys pay.

unless they live at same address, same driving history, same car, value, usage, claims history, multi vehicle discounts, other discounts, garaging etc etc blah blah if the price wasnt the same id ask around,

however as everyone is different, everyones premium will be different.

plus its a GTR.

if you had a pre 80s classic with Shannons then you'd be laughing, but an import/GTR in western Sydney - bend over!!

[R31Nismoid]

doesnt matter what these guys pay.

unless they live at same address, same driving history, same car, value, usage, claims history, multi vehicle discounts, other discounts, garaging etc etc blah blah if the price wasnt the same id ask around,

however as everyone is different, everyones premium will be different.

plus its a GTR.

if you had a pre 80s classic with Shannons then you'd be laughing, but an import/GTR in western Sydney - bend over!!

+1

Same for area's down here in Melb. Just giving them a different post code can see premiums alter by $300 without a drama at all.

Also a lot of VIC's have noticed a premium hike in response to hailstorms in the past 12 months (the excuse we are being fed)... But then that's what we pay insurance companies for in the first place so i cannot see how it's a legitimate reason. My premium went up by $250 overnight!

Any major disasters in NSW they can attribute it to? Perhaps alien abductions?

[Hadouken]

maybe all the bad roads with the huge potholes

[luke gtr]

[ras1983]

+1

Same for area's down here in Melb. Just giving them a different post code can see premiums alter by $300 without a drama at all.

Also a lot of VIC's have noticed a premium hike in response to hailstorms in the past 12 months (the excuse we are being fed)... But then that's what we pay insurance companies for in the first place so i cannot see how it's a legitimate reason. My premium went up by $250 overnight!

Any major disasters in NSW they can attribute it to? Perhaps alien abductions?

Differences in premiums due to different geographical locations is one thing, but a near-doubling of premiums in the space of a couple of years is another. I'm thinking that the reduced prices of imports means more hoons can afford them, write them off and subsequently make an insurance claim? That's probably behind the increased premiums.

Anyway it just seemed odd that premiums had gone up a considerable amount since I last had a GTR.

[ianjb]

Differences in premiums due to different geographical locations is one thing, but a near-doubling of premiums in the space of a couple of years is another. I'm thinking that the reduced prices of imports means more hoons can afford them, write them off and subsequently make an insurance claim? That's probably behind the increased premiums.

Anyway it just seemed odd that premiums had gone up a considerable amount since I last had a GTR.

nah, its more cause Australian companies are crooks and monopolise industries and the gov lets it happen

I bet the majority of them are underwritten by the same big 4-5 global co's anyway.