Young driver insurance ripoffs

[Matt5933]

Hi all, I am the very proud owner of a 06 BF Xr6 6sp auto. Never really had much to do with ford products at all but when my old car died I compared the VZ commodore and Bf falcon. The Bf falcon was so far ahead in terms of refinement and build quality / on road quality I was amazed. It truly is a great product and fantastic drive (other than a few low speed thuds which I'm pretty sure is diff bushes but anyway). However i have had difficulty finding reasonable insurance for me. The cheapest i have been able to find for third party fire and theft is $850 with a $1000 excess a year. I have even had a full comprehensive quote of $9850 a year. Not even joking. $850 is ridiculous for third party insurance.

I am a 21 year old male on an open licence. I have never had any type of fine or loss of demerit points. No accidents / insurance claims or run ins with police. Completed a defensive driving course, never so much as scratch any of my cars. I work a job that requires 3 different police background checks. The response to this is always young men wreck cars $850 is cheap. Most say they wont even consider me until I am 30. My father has a brand new FG XR6 and only pays $350 a year full comprehensive. My car is parked off street on a drive way in suburb in the cheapest insurance bracket.

Does anyone have any advice for me? or can recommend a good company that wont rip me off considering I have a completely clean claim history and licence.

Other than this annoyance I love my falcon and always walk away from it backwards so I can stare at it a bit longer. Awesome shock wave blue with factory 18inch rims. Nothing better than the period when you first get a great car and use any excuse just to go look at it.

[BHDOGS]

Put it in ur dads name and put urself down as a part time driver should be abit cheaper

[kempy311]

There is some crazy prices out there I am 19 with and FG XR8 still on P's and I pay $233 a month for full comp with modifications listed thats with Just car Insurance. I think its still very high but best out there.

[WILDB]

I was paying $850/year for full comprehensive insurance on an FG XR6T. 23year old male with a good driving history. In my name only.

[My poor XF]

Damn! I pay $650 a yr for full comp. 26 yr old male modified car.

Do live country though.

[EDManual]

Originally Posted by kempy311

There is some crazy prices out there I am 19 with and FG XR8 still on P's and I pay $233 a month for full comp with modifications listed thats with Just car Insurance. I think its still very high but best out there.

wow! Thats pricey!!

[anolade]

young reckless= high premiums best off beating the insurance company by using the old man as 1st driver thats what i did even though car was rubbish ute i had rating 1 for insurance low insurance cost.

[kempy311]

Originally Posted by EDManual

wow! Thats pricey!!

Unfortunately not much I can do about it I tryed the usual list my dad as the main driver but they said if I'm listed as a driver at all it goes back to the high price. Atleast it went down from $288 a month this year.

[BA-XT]

I'm 30 now and had to put up with high prices when i was young. It is what it is. I pay $750 for my '03 BA XT.

Young drivers are reckless. I know how slow I drive because I've seen too many idiots. The main offenders are..... Males aged 18-25. I asked fir a discount with RACV and was told because my Ford is driven by young people my premiums are higher -even though I've never made an at fault claim in 12 years of driving.

[Shonky.]

Don't know why you're having such trouble if you really have nothing on your record

I just did an online quote through AAMI using your details as per the OP and got $235 per year fire and theft and $808 per year full comp

These quotes were d in my house in the inner suburbs of Brisbane, but shouldn't vary too much anyway

Where have you got these quotes?

You know you need to use online quoting to get the non tourist prices yeah?

Just try a few online quotes (assuming you're not telling porkys about your traffic history)

http://www.nrma.com.au/

http://www.aami.com.au/

http://www.racq.com.au/

[GS608]

You must not be doing something right. I'm paying $140 a month for an 11 FG T Ute, I'm 20, had 1 at fault accident last year. That's with NRMA. Full comp too

[rag top]

Have you tried an insurance broker?

[XARATE]

Last year I was on my green p's 20years old and had my 2005 ba xr8 comp insured for the agreed value of $24,000, it only cost me $1209 with a $600 excess. Thankgod i live in the country.

[lockieoc]

You are doing something wrong. I'm 20 and have my Evo fully comped for a shy over $2k a year.

[eyes87]

I just got my renewal in the mail from aami. Full comp- 825. Agreed value at 17500. Thought it was a bit dear so rang a few other places. Nothing under 1k and they would only insure it for about 12500!!! Oh and I'm 24

[Matt5933]

Thanks for all the info everyone appreciate it. Only had time to do a few online quotes before rushing off to work. Laughed hard and even took a picture of the online quote of $9606 full comp. RACQ flat out told me they wouldn't insure me until I was 30 same as budget direct. One interesting thing was that if i had anything other than an XR specification they would insure me. Even though a BF taxi makes the same power they would insure me in it. A broker might be a good idea as its a stock car and ive got a clean licence.

On a side note I was at work tonight and drove two of our company cars back to back. A VZ commodore and a BA mk2 falcon. Interesting comparison as they both have 240,000 Kms on them and have only been serviced once in their lives. For some reason my work buys cars for cash never services them driving them till there dead then getting new ones. The commodore is complete ****. Gearbox wont shift down till it almost stalls, engine has no power, everything inside the car rattles and doesn't fit properly even the glove box falls out of the dash. However the falcon drives excellent. Good brakes, engine, gear box and the interior is fine no rattles and still looks good. This is a real testament to the better quality of the falcon considering these cars have never been washed, serviced or treated with any respect.

[Shonky.]

Originally Posted by eyes87

I just got my renewal in the mail from aami. Full comp- 825. Agreed value at 17500. Thought it was a bit dear so rang a few other places. Nothing under 1k and they would only insure it for about 12500!!! Oh and I'm 24

use the online quoting, prices are cheaper than phoning (including on your existing policy - always requote with your existing insurer)

[Shonky.]

Originally Posted by Matt5933

Thanks for all the info everyone appreciate it. Only had time to do a few online quotes before rushing off to work. Laughed hard and even took a picture of the online quote of $9606 full comp. RACQ flat out told me they wouldn't insure me until I was 30 same as budget direct. One interesting thing was that if i had anything other than an XR specification they would insure me. Even though a BF taxi makes the same power they would insure me in it. A broker might be a good idea as its a stock car and ive got a clean licence.

On a side note I was at work tonight and drove two of our company cars back to back. A VZ commodore and a BA mk2 falcon. Interesting comparison as they both have 240,000 Kms on them and have only been serviced once in their lives. For some reason my work buys cars for cash never services them driving them till there dead then getting new ones. The commodore is complete ****. Gearbox wont shift down till it almost stalls, engine has no power, everything inside the car rattles and doesn't fit properly even the glove box falls out of the dash. However the falcon drives excellent. Good brakes, engine, gear box and the interior is fine no rattles and still looks good. This is a real testament to the better quality of the falcon considering these cars have never been washed, serviced or treated with any respect.

PM me your postcode if you want.

You must be doing something wrong.

You're 21 yeah?

Car is standard yeah?

No loss of licence?

No at fault claims?

Brokers are not necessary in this day and age with plain vanilla insurance

[Matt5933]

Originally Posted by shonkymofo

use the online quoting, prices are cheaper than phoning (including on your existing policy - always requote with your existing insurer)

Interesting i just tried an on-line quote with my existing insurance company which is third party fire and theft at $860 a year with $1000 excess. When i entered my info they said they will not insure me in that vehicle until im 30.

[Matt5933]

Originally Posted by shonkymofo

Don't know why you're having such trouble if you really have nothing on your record

I just did an online quote through AAMI using your details as per the OP and got $235 per year fire and theft and $808 per year full comp

These quotes were d in my house in the inner suburbs of Brisbane, but shouldn't vary too much anyway

Where have you got these quotes?

You know you need to use online quoting to get the non tourist prices yeah?

Just try a few online quotes (assuming you're not telling porkys about your traffic history)



http://www.nrma.com.au/

http://www.aami.com.au/

http://www.racq.com.au/

Thanks for the link to AAMI i did the on line quote and got $232 a year third party + fire and theft. The big concern i have though is all these companies seem to say they will only insure the car against fire or theft up to $5000. This seems a little low considering with the excess if my car was stolen id only receive just a bit over $4200 for a $15000 car.

[Shonky.]

wow, yeah, that's no good. Didn't know that.

I haven't had fire and theft since I first started driving (in my $1200 XD)

You should be able to get comp for the price you are paying now.

There are heaps more companies. The top two are one I know are usually cheap and RACQ is who I have. There are heaps more

[Shonky.]

but it sounds like your AAMI quote for fire and theft was roughly the same as mine

What did it say for comprehensive?

(at the end you can change your excess which varies the price - for your quote I changed it to about $1,000 - same as what you had in your OP)

should be about the same as your current fire and theft policy ($800-$900)

[Jack960]

Sounds like your doing it wrong to be honest. I just sold my 2007 BF XR6, I bought it when I was 19, RACV gave me full comprehensive for $1200 under my name with $550 excess plus $400 for being young when I had it.

[Matt5933]

Originally Posted by shonkymofo

but it sounds like your AAMI quote for fire and theft was roughly the same as mine

What did it say for comprehensive?

(at the end you can change your excess which varies the price - for your quote I changed it to about $1,000 - same as what you had in your OP)

should be about the same as your current fire and theft policy ($800-$900)

Did the comprehensive with 1000 dollar excess and got a price of $675 with 15500 agreed value. Which is great because its $200 cheaper than what i pay now and the people im with now only market value my car at 13000. Im also Brisbane suburbs (4074) which hopefully helps my premium. Thanks for all your help appreciate it.

[DJM83]

When i purchased my T2 TE50, first year of ownership was circa $1800 i was 23 and had lost my license but it was off my record. My XR5T with all mods is about $800 a year im 28.

Just suck it up if you want a nice car when your young you have to pay, i did.

[a-total-tool]

The insurance quote relies upon 4 main things:
Driver - Age, accidents, gender, history etc
Vehicle - standard/modified, replacement value, likelihood of theft/damage etc
Location - where and how the car is stored during the day and night.
Loyalty - Most insurers will offer multi-policy discounts if you have other types of insurance already with them, and such a discount will also transfer onto these existing policies.

All the muppets saying "I am XX and paying $YY" doesn't reveal a lot unless all the details are revealed.

For instance, I am 25 and have a couple of cars insured at the moment. I have my EL Ghia (highly modified - engine, suspension, paint, wheels, sunroof, stereo etc) and a Mitsubishi Pajero (Also Modified). I have one claim in the last 6 months - where I lost a car in floods (so it is deemed a 'not at fault' incident and has not affected my NCB). I live in a high risk area (Mt Druitt NSW)

I pay $1072 to insure the EL insured with Shannons for $9200. I am also looking to get a brand new car (a diesel hatchback).
It will cost me a similar amount to insure a Ford Focus Sport for $35,000 though NRMA... The kicker being that I am paying a mortgage, the home/contents insurance is already with NRMA, as is the CTP on the car that is insured with shannons.

Last Piece of advice - I would advise against deceiving the insurer. Be upfront and tell them everything... as leaving anything out may mean that any claim may be voided or reduced. Do not put the car in a friend/relative's name with you listed, most places will just see you and will spit the same figure out whether you are the owner or not. They look at the highest risk and base their figure on that.

[xisled]

Basically with insurance you pay for everyone else's stuff ups in your area.

Your biggest problem, will be where you live and your age. It does not matter if you have never been in trouble with the police you are a statistic to the insurance company.

Basically move to a lower risk area is the only way to get your insurance down .

[ridzilla]

I'm 18 and have '04 Ba XR6 Turbo and I pay $173 a month, that was the best price I could get (RAC)

[XR6T0Y]

1600$/year, full comprehensive with 14k agreed. 19 year old guy with no history. So not too bad for me (NRMA)

[t_holt69]

all I can say is WOW, I'm 25, 5 claims (one write off) 2009 FG XR6, $1200 for fully comp, agreed at $29500, 550 excess...
But I do remember years ago, AAMI wanted 7500 to insure an EL fairmont, lol