Wake up call - Stolen cars

[shark33]

i agree if you can get the money for the car you should get insurance. if you total your car your out of pocket. and if you hit another car you pay them 2.

Its like not having private health cover.

It doesnt make sense.

[shark33]

if can afford the car you should get insurance, if you total your car your out of pocket and if you hit anyone else you srewed.

its like not having health insurance.

it doesnt make sense.

.Daniel

[slow13dude]

if can afford the car you should get insurance, if you total your car your out of pocket and if you hit anyone else you srewed.

its like not having health insurance.

it doesnt make sense.

.Daniel

And do you have comprehensive insurance on your grey import Daniel?? Do you feel handing over a third of the value of your car per year to be worth it?

In three years you could have bought another GTST

[grigor]

if can afford the car you should get insurance, if you total your car your out of pocket and if you hit anyone else you srewed.

Daniel,

3rd party property covers the other car, you pay to fix your own.

At about $120 per year, should just be compulsory with rego/3rd party.

[SKY031]

if you total your car your out of pocket and if you hit anyone else you srewed.

its like not having health insurance.

it doesnt make sense.

Well.... the simple answer to that, is don't go around hitting other peoples cars, and there won't be a problem.

Not everyone is in a position where they can afford car insurance, life insurance, home and contents insurance, or private health insurance.

That "may not make sense" to you, but you're obviously in a position where you have enough money to sustain a certain type of life-style on your income.

It's just an unfortunate fact of life, that not everyone is as lucky as you.

[paulr33]

i think having custom stuff done to your car makes it like "nicer" for thieves to flog it as well as they have to goto efforts to get rid of it or sell it or dump it. mine has an sau url sticker plastered across the bonnet and its been there for a year now. no doubt if it was pulled off would leave some nice paint marks making it really annoying to return to stock, simple things like that probably make it less "nicer". sure if they want your car for parts or what not its gonna get taken but there are some things you can do to make it harder and less nicer, such as the ones mentioned above

[Iceduck312]

For the guys out there that have to pay in excess of 3K for insurance.. I feel for you guys.. and yes .. I only pay $1700 for my ride.. but in all fairness. to each their own,

Instead of criticising others for not having comprehensive insurance.. and then comparing it to private health insurance..it doesn't really help anyone.. rather if we could all suggest, alarm brands, immobilisers.. tips and tricks to stop car thieves.. it'd be great..

e.g.

**For those of you with spare cash.. fork out $900 and get a 2 way pager alarm system e.g. Boomerang

** Disconnect ur PFC/ CPU's ( I dunno how accessible it is to everyone's model)

** If you got an AVCR or similar and are able to.. set the rev limit to 2 grand. ( also good for when ur getting ur car serviced..lol)

[blackr32gtst]

!!!!!!hhhhhmmmm!!!!!

is every1 also forgetting that if u hit some1 else and u dont have insurance then they wont have a car in a hurry cause u probly cant afford to fix it imagine if some 1 hit u guyz and didn,t have insurance u lose just get 3rd party atleast

cheers chris

[Ruffels]

big wake up call after 666 - DAN ... dan's r34 was stolen in brisbane and basically ripped apart

had an alarm and immoberliser too

i think having custom work or something that sets you apart from other cars makes it easier to track down your ride if stolen

for example dan's 34 was noticed when someone put a deposit on the stolen cars engine, which in someway was unique Neo or something

scares the crap out of me to think what i would do if my baby was stolen.. and ive only got 3rd party

*cries*

-Ruffels

also... full comp for me will be $3500 a year... the cars only worth like $16k

at that rate i'd pay the car off in like 5 years worth of insurance

just not practical...

also as im driving a car over the power to weight ratio .. insurence companies will see this as a breach of conditions... and refuse a payout if i make a claim, so i might aswell take my $3500 and light it on fire... coz im basically making a charitable donation to them in those circumstances as far as i am concerned... instead im going to get 3rd party fire and theft, and take my reamining $3000 and put it in a bank account with high interest and only use it in the case that i need to fix something urgently... if the car gets stolen i'll get the $4000 from 3rd party payout and my $3k... ... $7k is better then nothing

also in the process of purchasing a gps/gsm tracker

but remember guys such devices can be jammed using a $300 or so device that most car thieves would quite easily have access to

so still not 100% safe

[Mulkers]

should just be compulsory with rego/3rd party.

IS in vic

[Ruffels]

^^^^ Mulkers i belive this isnt exactly true

the fee that you pay with your rego is more of a public liablilty insurance.... it doesnt actualy cover other peoples cars if you crash into them... more if you hit a person and they require medical attension ... stuff like that i tihnk

*correct me if i'm wrong

-Ruffes

[Ruffels]

*ignor this... was a double post*

[bLiNk]

One thing people forget is if u dont have comprehensive u have the option of selling your wrecked car. Greg answered a similar problem as this a while ago for me.

This may provoke some thought.  

Suppose the car in question has a total market value of $16,000 (market value of car in stock form + market value of modifications)  

SCENARIO 1 - FULL COMPREHENSIVE INSURANCE  

Premium - $2,080  

Car's insured value - $13,000  

In the event of a write off:  

Insurance payout: $13,000  

Less excess paid: ($1,850)  

Less premium lost: ($2,080)  

Net amount recovered: $9,070  

Recovery: 57%  

SCENARIO 2 - 3rd PARTY PROPERTY INSURANCE  

Premium - $400  

In the event of a write off:  

Salvage value of wreck: $5,000  

Premium saved (ie by not paying full com): $1,680 (difference between full comp & 3rd party)

Excess saved (by not claiming): $1,850  

Net amount recovered: $8,530  

Recovery: 53%  

SUMMARY  

Try performing the above calculation with a premium of $4,000 and it soon becomes apparent that, in the above scenario you are actually better off without insurance (in the event of a write off).  

As long as you can drive, full comp is not worth it in my opinion. Better insurance would be an excellent alarm system, a few advanced driver training courses and a skidpan day.  

IMO full comp insurance becomes attractive:

a) when your car is worth more than $20k and/or

B) when your premium and excess are reasonable (ie rating 1 over 25)

ABOUT 3RD PARTY FIRE THEFT  

Just Cars offered me $4,000 fire and theft cover. If you read the fine print, you will find that, for example, if your car is recovered from being stolen with $5,000 damage, the insurance company will declare your car a write off, pay you $4,000 and take your car. Well this is the understanding I got from reading the fine print, please correct me if I am wrong.

[BenA31]

i personally look at it this way.

say u got a car worth 12-15k ish (r32 gtst, ceff, silvia etc) and are on 3rd party F+T paying bout 600 a year

u put the difference of the 3400 aside each year that you would of paid for the full comp.

within about 3.5-4.5 years you have saved the same value of the car that you would of paid to the insurance company not including depreciation and if the car is stolen u will still get a partial pay out from the fire and theft part of ur policy and have enough to go buy another car.

[Ruffels]

^^^^^ 5 posts up... thats my theory too

[turbohectics]

^

If your car gets stolen they investigate it and if it doesn't turn up after 3 months they pay you out $5k(just car insurance) than the car becomes the insurance companies.

If the car gets found its the insurance companies so insurance company will sell it at auctions get $10 k or so ,you miss out on that as its no longer your car once you get payed out

and to avoid gettin car ripped stay away from wsid and anywhere else other car enthuisists are ,because where attractive unattended cars are, thiefs are about

Just a thought !