Insurance

[sebaz]

For those of you who are up for renewal with insurance..you're in for a big big shock.

Below is an account of my latest efforts to find insurance for my GTR here in sydney. It would appear that I will now be selling it.

I just can't justify the premiums..they're bloody rediculous.

Ok crew here's the deal up to now. Still the best is Famous Car

insurance in perth.

Here's the list I've called you can add about 10 more as well to that and in total I think only about 5 would even quote me. NRMA has a R33 Vspec gtr valued at 35K..Guess thats their way of ****ing us all over...

What's funny is the complete lack of care these companies have. They just couldn't give a shit. Even had one mob ask me to put the car in my fathers name??Umm Hello!!!

So to this end I'm placing an add in the trading post to sell my car.

It's not worth being an enthusiast and live in Sydney. You're rated risk is just to high and you are uninsurable. even on the northern beaches.

If your company won't do Novated Leases and therefore reap you the Insurance benefit of fleet insurance...You're ****ed.

Add to the list below famous and about 10 others. They're not worth mentioning as they just said no.

Insurance Companies

Just Cars Subsidiary of AAMI 13 13 26

AAMI 13 22 44

Fortron Insurance Agency 1800 444 123

Auto One Stop (07) 3802 5566

Insurance Australia Brokers QLD = (07) 3236 3300 NSW = (02) 6551 3220

Vigil 13 14 30 www.vigilins.com.au

Ansvar (SA) (08) 8338 1900

RACQ 13 19 05 www.racq.com.au

Young and Cool (02) 9601 1600 www.youngandcool.com

QMDN 1800 644 383

Unique Car Insurance (03) 9898 9400

Elders Insurance 1800 654 545 www.elders.com.au

Shannons (02) 9958 7666 www.shannons.com.au

Torque Underwriting 1300 369 769

ALL-STATE insurance (07) 3205 3311

Suncorp Metway 13 11 55 www.suncorpmetway.com.au

Street Tech Insurance for Imported & Modified Vehicles 1800 150 320

Australian Finance Group 07 3394 1200

NRMA 13 21 32

Prestige Car Insurance 1800 004 121

DirecDial Insurance 13 19 29 www.direcdial.com.au

FAI Insurance 13 10 00

Insurance My Way Australia www.insurancemyway.com.au

eChoice www.echoice.com.au

FutureNet www.insurenet.com.au

Australian Insurance Search www.insurancesearch.com.au

Insurance Brokers

Insurance Brokers of SA (08) 8326 1011

Bendigo Insurance brokers (03) 5441 1066

Toomeys (03) 9876 5950

Young (02) 9601 1600

Dawes (02) 9144 6700

Combined Acceptance (02) 9633 5800

Auto One Stop (07) 3802 5566

Kenyon (03) 9696 1219 www.kenyon.com.au

Unique Car Underwriting 1800 651 014

Pyrah Tobin Brokers (02) 4285 9191 www.pyrahtobin.com.au

[T0nyGTSt]

No offense but is there something wrong with your record?

I was rejected quite famously by some folx because they obviously weren't too enamoured by my 25/30 overs.

Unfortunately the industry needs a shakeup if the New Zealanders can insurance machines cheaper than we can...

T.

[Guest tgriffin]

At the end of the day mate, insurance companies work out the figures.

If they charged 10% of the value of the car as a premium, and they insured 10 cars @ $35k. If one of them crashes.. they're out of pocket, so it's not worth the time screening for good drivers in these bad (statistically) cars.

Believe me, I'd love it if I got decent quotes, mine are pretty outrageous (R33 GTS-T). But it's their discresion and their money on the line.

(just giving the other side of the picture)

Cheers,

Tim

[sebaz]

Yes there is always the insurers side....Umm hello.

Due you have shares in them or what. what sort of simpathetic standpoint is that. Due enjoy paying high premiums or something?

Fair enough but seriously which side are you on mate?

As for my driving record, its perfect. rating one plus no fines etc.

ok I'm 28 but shit give me a break!! It was fine last year when i was 27...

If it were any other industry and the party concerned hiked the premiums 105% from the previous year you'd call a current affair and the industry ombedsman. come on.

I guess its a case of if you're not effected directly then you're comfortably numb.

Well that's just horse shit.

Seb

[Guest tgriffin]

What premium did you get quoted for your GT-R?

I'm not on their side, but at the end of the day, if you don't like it your only options are to deal with it, sell your car or start your own enthusiasts car insurance company like the Famous Classic guys.

There's something called adverse selection in terms of insurance. It's when people who are likely to make a claim purchase insurance, so it ends up that insurance companies mostly get these folks who are likely to make claims. This obviously is not going to be a profitable enterprise for them, and what would have happened in regards to Skylines.

I have put a deposit on a GTS-T and the insurance I got quoted for was $3399 from Famous. I think that is expensive but bearable.

Cheers,

Tim

[sebaz]

Well I disagree. Personally I think your an adverse enthusiast...

Quit being part of the problem you tosser.

If you don't have anything valuable to add don't say anything.

Do us a favour...

[Guest tgriffin]

Well I've made my point, it's valid and logical no more need be said.

[V-meister]

Both are valid points. No one is saying they want to pay high premiums but in the end it's just business. Insurance companies have reasons for charging what they do and I guess we all just have to accept that. The only way we can change it is if we start our own niche company and insure younger drivers in which case we may even find that WE would need to jack up premiums as some of our clients prove to be 'risky'.

[T0nyGTSt]

Originally posted by tgriffin

Well I've made my point, it's valid and logical no more need be said.

Talking to Tim before, it's clear he's no friend of the insurance company. I'm in no mood to even consider a $4,000 premium for ANY car...

But this is the situation as presented. The insurance industry is unjust just like the banking, police and many other sectors.

You either play their game or you don't.

I'm not playing it and I reckon that you either find a way or give up. You gave up (rightly or wrongly).

T.

[sebaz]

Well I challenge anyone to get a quote for comprehensive (not through a fleet policy) of less than 3K for my car.

god knows I've tried.

1995 R33 Vspec GTR

rating one no claim, only driver 28yrs

always garaged quiet northen Syd suburb

No fines or claims

Insurance value 50K

I'm talkin cash up front. Whoever finds a quote for that price I'll pay'em 100 clams! I'm dead serious.

Put your money where your mouths are.

I just don't have over 60 dollars a week for insurance...

Help me out !!!!

[400HP]

sebaz - I understand your problem. I'm 22 and SHOULD be a rating one since I have 2 other cars UNDER MY NAME on rating one but a particular insurance company would only give me 20%.

In any case what I was going to say is that $3K for a $50K car isn't too bad. I'm considering the fact that some insurance companies have raised their risk bracket to be 30 and over. Especially being a sports car. I would have thought it would be similar to insure a lcoally delivered less "risky" car like a B4 or something like that.... I guess another way to look at it is if you DO like cars and you DO live in Sydney and you DO NOT intend to move then its simply part of the cost of living in Sydney...

[T0nyGTSt]

Is there a way you can get a lease? That is the only way I could ever get insurance on a GT-R... (my own fault at least for the next few years or so...)

T.

[400HP]

To get a lease you either have to get it through your work or go to a leasing company like prosperion.

[Guest tgriffin]

.. and if it's a secured loan you'd be required to get comp insurance

Sebaz: the cheapest I found was Famous Classic. I called Just Car and I told Tommy (from Famous) what they quoted me and he beat the price, which ended up being $3299.

Harder with a faster and more valuable car, but you are over 25 (I'm 20) so I would have thought it'd be closer to $3k for you.

[400HP]

tgriffin what car do you have insured??

that sounds like a pretty good deal for a 20y/o if it turbo

[Guest tgriffin]

The quote was for a $26.5k 1996 R33 Skyline GTS-T (2.5L turbo) for a 20% no claim for a 20yo.

[400HP]

do Famous do Sydney..? whats their number?

[Guest tgriffin]

Famous are in WA.

Famous Classic Car Ins... 1300 886029 Tom/Robin

[400HP]

but do they insure cars in Sydney?

[Guest tgriffin]

Sure do, give em a call.