Insurance for XR8

GTP 044 · 23-06-2006, 05:32 PM

Hi everyone,

Wondering if anyone could recommend or NOT recommend some insurance companys. Just got the renual for the XR and the premium has risen, my excess has risen and the agreed value has dropped. Don't know why as I haven't made a claim. At the moment I am with AAMI, am a rating one, in Victoria. Renual was $866 and I'm 33.
Thanks in advance
Greg.

EL_futuraistic · 23-06-2006, 05:36 PM

definatley check with racv.

I have had 4 cars in 6 years, the 1st 3rd party with aami... and everyone after that with RACV as AAMI were between $300 and $800 more than RACV in all cases

you can do quotes online wiht Shannons (over25 only), GIO, RACV, AAMI, ALLIANZ (discounts for alarms, garaged etc..)

GCFordChic · 23-06-2006, 05:52 PM

Im guessing that you are over 25, I would love $800 for insurance for the Pursuit!

Even though Just Cars is in the market for younger people in general, they are good. On their website you can get a quote. www.justcarinsurance.com.au They are a subsiduary of AAMI, so if you have had a bad experience with them, then think about that too. I have no idea what sort of price range it would be sorry...

All i can say is that personally, i would not suggest suncorp. With our last car we went through so much trouble in getting the rear end fixed when someone bumped us up the a$$. Took ages and the people we spoke to on the phone were not helpful, i would say only a notch above incompetent. But that was just my experience.

Lukeyson · 23-06-2006, 06:35 PM

you may find its the area your in ? i am in a low crime area and get cheap as for my age compared to other areas nearby to me.

yeah try RACQ/NRMA, JCI are rip offs IMO, i was with them for one year ages ago.

I am 24 and pay $900 for my XR8 ute and $830 for my wifes (shes 22) XR8 sedan, with NRMA

BPXR6T · 23-06-2006, 06:38 PM

Yeah, I got the renewal for the BA XR8 from AAMI tonight. $1000 flat. I'll be taking my business elsewhere. NRMA most probably...

dute · 23-06-2006, 07:37 PM

I got mine a few months ago and the same thing the price went up and the value had gone down, I advised them I will be shopping around and and the price went down over the phone. so I said ok thats better, mine is with AAMI $668 with a $400 excess and agreed value $36000,

The G6ET Spot · 23-06-2006, 08:22 PM

You guys are blessed with only having to pay those sort of premiums.When I got my ute last year it cost me $1500 to insure it for $50,ooo with all the extras with NRMA, and that was the cheapest by about $300. I'm 47 with 65% no claim. Just did an estimate check with them for $40,ooo and this year it would be $1697, I forgot to mention that I also supposedly get a multi policy discount as I have 3 other policies with them.Then did a check but put in Coffs Harbour as my address and came up with an estimate of $778

: Good old Sydney NSW screwed to the wall again. O'h well I suppose i'll just have to grin and bear it for another 8 years till I can get out of the dump. And to think that I moved from Forster to come back here.Must have had rocks in my head

:

ToxikXR · 23-06-2006, 08:27 PM

Dont worry my insurance is $3200 and its only an XR6.

AUIIXR8_Tas · 23-06-2006, 09:18 PM

Jesus! $3200?

I'm with CGU - Just under $700 a year for full comprehensive, $250 excess and i'm 25 with a rating 2. Soon to be rating 3 after my partner scraped up the side of a canary yellow 200SX.

39ClevoUte · 23-06-2006, 09:20 PM

Try NRMA. in years gone by not so good, at the moment seem to be OK.

Hally · 23-06-2006, 09:28 PM

Red,

Try Allianz. I work in the insurance game and personally think they are one best value insurers around. They have cheaper excess than AAMI and usually have a higher value on the car. The best thing about them is that you have choice of repairer. Do not under estimate the value of this.

I was with AAMI and had someine run up the back of me. The repairs through AAMI are crap and there isn't much you can do about it.

Cheers,

Hally

pennybrain · 23-06-2006, 09:41 PM

I'm with NRMA and its $1200, full comprehensive with 2 under 25 year old drivers. And its an XR8 Ute.

MoreHPformyXR6 · 23-06-2006, 10:03 PM

Im with Allianz (via my Broker) its a broker only policy wish has a few additionals but its basically the same as if I went Allianz direct via web its $636 pa (includes insurance broker fees) with $300 exess im rating one & 35 years old (2005 BA XR6 MkII Sedan Auto). It would have cost me $633 Allianz direct its just that all my family has used the same broker for years & if we have a claim our broker arranges it all & we have never as a family had a problem with an insurance claim in 30 years.

Yaw · 23-06-2006, 10:13 PM

I hear the same thing every day. "my agreed value has gone down, my premium has gone up and I have made no claims."

The value of a car has a very very very small part in making up the premium.
As the agreed value is a "worst case scenario" in other words a complete write off----beyond economical/safe repair.
Less than 2% of all accidents are total loss claims!!!!!!!!!!!!!!
A premium goes up because repair prices and part prices keep increasing as quite often the claims statistics have also risen.

Most insurers put away enough funds in reserve to allow for up to 5 major events a year, ie cyclones hail floods. Cars too are affected by these things.
Usually 5 major events is more than enough. Last year in QLD alone there were 17 major events. So in turn the insurers have to claim on thier reinsurance and thier premiums rise so the money has to come from somewhere.

Last point to make someone said something about your choice of repairer.
They were correct never underestimate this. This is the single biggest reason price of repairs keep going up, because they do not have to compete with another repairer to keep thier repair prices fair and reasonable like every other industry does, it is thiose repairers that keep screwing the insurers over with inflated repair costs because they have no checks and balances.
The repairers bitching the most about NRMA recently are some of these overinflated repairers that screw the industry up and give it a bad name.

lush · 23-06-2006, 10:48 PM

I got my renewal this week also, $1045 for an XR8 ute, valued at $31k. Im 32 and have a maximum no claim bonus for life with them, and have my house and contents insured with them......beginning to think I could be getting ripped off.

Its a $500 k excess.

The G6ET Spot · 23-06-2006, 11:51 PM

Quote:

Originally Posted by AUIIXR8_Tas

Jesus! $3200?

I'm with CGU - Just under $700 a year for full comprehensive, $250 excess and i'm 25 with a rating 2. Soon to be rating 3 after my partner scraped up the side of a canary yellow 200SX.

Only 700 bucks, man thats cheap.Oh hang on I just noticed that you are from Hobart,that would explain it there'd only be about half a dozen other cars down there. :hihi:

: Sorry, had to say it.

BPXR6T · 24-06-2006, 03:09 PM

I'm with AAMI and as previously stated got a renewal for $1000 earlier in the week. I went and done an online quote last night and its already up to $1079...

XRQTOR · 24-06-2006, 03:21 PM

Quote:

Originally Posted by ToxikXR

Dont worry my insurance is $3200 and its only an XR6.

$32oo for an xr6, i'm 21 & i pay $38oo a year for a blown BA xr8 with an agreed value of $5o,ooo.

Funny as i rang and got a quote for a car i'm looking at buying, after an hour's wait on the phone as they've never insured 1 of them before they said if i change over now it'll be the same premium but another 8oo excess applies. With an agreed value of $75ooo go figure.

GTP 044 · 25-06-2006, 12:56 PM

Quote:

Originally Posted by Hally

Red,

Try Allianz. I work in the insurance game and personally think they are one best value insurers around. They have cheaper excess than AAMI and usually have a higher value on the car. The best thing about them is that you have choice of repairer. Do not under estimate the value of this.

I was with AAMI and had someine run up the back of me. The repairs through AAMI are crap and there isn't much you can do about it.

Cheers,

Hally

Thanks for that Hally,
I've got the day off tomorrow so I guess I'll be spending a bit of the day with the phone welded to my ear. I'll try Allianz and a few others. Will let you all know how I get on.
Thanks, Greg.

lush · 25-06-2006, 03:41 PM

Oh and forgot to mention (mine still seems really dear!) I live out in the country, central west NSW. SO not exactly in a high crime area!!!!

Yaw · 25-06-2006, 08:45 PM

Quote:

Originally Posted by lush

Oh and forgot to mention (mine still seems really dear!) I live out in the country, central west NSW. SO not exactly in a high crime area!!!!

Why does everyone automatically assume high crime area????

Crime rates really have nothing to do with it. It is statistical data relating to the amount of claims from an area. Sometimes crime rate seems high in these areas but the premium does not look at that. its the amount of claims. For instance a hail storm or cyclone will have a much bigger factor in claims from a particular area.

lush · 26-06-2006, 09:33 AM

Sorry Yaw, very true, I was just throwing that part in as I was sure someone would reply to my first answer with "maybe you live in a dearer area" etc.

I am going to ring around today and get a few other quotes, as mine does seem a bit dearer than others. Hopefully if I get a cheaper quote AAMI can match it.

I have my house insurance with them also.

Ryan · 26-06-2006, 02:07 PM

Have you considered Shannon's?

Des · 26-06-2006, 03:26 PM

Quote:

Originally Posted by Yaw

Why does everyone automatically assume high crime area????

Crime rates really have nothing to do with it. It is statistical data relating to the amount of claims from an area. Sometimes crime rate seems high in these areas but the premium does not look at that. its the amount of claims. For instance a hail storm or cyclone will have a much bigger factor in claims from a particular area.

Bankstown area Sydney - $1200 a year, 36 yr old with max. no claim for life and no-one under 30 able to drive....Apparently I'm in the most expensive insurance area in Australia....

GTP 044 · 26-06-2006, 04:00 PM

Well I did the ring around today and here's my results.
ALLIANZ - Won't insure me because car has a cat back system
JUST CARS - $1186 and a $1300 excess
GIO - $982 and a $450 excess PLUS a $600 extra excess because it is an XR and has exhaust done
RACV - $1086 and a $450 excess

Looks like I'm staying with AAMI, as I stated earlier $866 and $500 excess. All insurance companies I spoke to say that market value is about $36000 plus a bit more for any mods that I have done. The other thing I liked was they don't mind the other couple of mods I want to do (MOMO Wheel and different wheels) because I'm over 25.
Thanks everyone for your input.
Greg.

The G6ET Spot · 26-06-2006, 06:46 PM

Quote:

Originally Posted by Des

Bankstown area Sydney - $1200 a year, 36 yr old with max. no claim for life and no-one under 30 able to drive....Apparently I'm in the most expensive insurance area in Australia....

Who are you insured with Des, thats seems pretty cheap compared to the quotes that I have been given.