WORK THIS ONE OUT . ( insurance)

gtfpv · 02-02-2007, 08:37 PM

if i have a GT . INSURANCE VALUE $51 000 .
and a years of ins discount :: $609
and a multi policy discount :: $406
a 65% no claim discount of :: $1980.

leaving me with a premium of $1231 to pay .

then :::: what are the discounts % wise ?
are they genuine ?
what would the full premium be . and do the percentage discounts add up. ?????
commom HSC SCHOOLIES . ./ AND MATHEMATICIANS .
are these geniune . or an illussion to make it look like your getting 65% discount + multi policy discount + loyalty discount . ???

get where i'm commin from ??????

Hitman · 02-02-2007, 09:53 PM

I don't know what the percentages are but your total premium would be $4226.
Sounds mighty expensive to me.

Obviously I don't know your details, so I just did a quick 1 on the NRMA website using my details, 33, male living in Blactown, and car under finance. 2004 GT for market value $2396. of course I don't really live in Blacktown or have a GT.
MAybe you could get some online quotes and do some comparisons?

Yaw · 02-02-2007, 10:40 PM

You are comming from a false assumption.
You stated you have a 65% no claim bonus which means you are on a rating 1. The base premium is a rating 6.
So you need to get back to the base premium for your car, your age, your gender, your suburb and then take the 65% off that figure.
Usually multi policy discounts at best are 5% some are as low as 1% depending on your insurer.
The multi policy discount would be from the total of all your policies cost less the discount. I don't understand the other discount you mentioned sorry.

Edit: the actual dollar value of your car that it's insureed for has very little bearing on the premium. As I have stated so many times before, it has to do with claim statistics and repair costs for that particular car.

GXL078 · 02-02-2007, 11:05 PM

What do you expect to pay to insure a GT? Its never going to be under a grand if you life in Sydney is it? My damn Mazda SP23 cost $1100, I'm 37 and yes, I do live in Blacktown. But that $1100 was pretax and through the leasing company so they probably mark it up because its financed.

cupic · 02-02-2007, 11:50 PM

When Nrma or however give a premiun itemise every thing.Say premium is 10,000
years of memebership 400
added insurance 500
65% discount 6500
Total 2600
easy but not or some

gtfpv · 03-02-2007, 12:00 AM

Quote:

Originally Posted by xcgxl

What do you expect to pay to insure a GT? Its never going to be under a grand if you life in Sydney is it? My damn Mazda SP23 cost $1100, I'm 37 and yes, I do live in Blacktown. But that $1100 was pretax and through the leasing company so they probably mark it up because its financed.

THE REASON I ASKED THIS QUESTION . IS BECAUSE IT IS WITH THE NRMA . i have every thing insured with them , and have my home ins .due . they gave me a reminder , telling me not to forget the 20%loaltyon car discount for years of insuring/ or 10% discount on home contents . 1 or the other .depending on years with them ,(not both); so it persuaded me to look at which one i have and found it's all to hard to work out . thanks for the replies . weird stuff .
incidently i have never been able to beat the nrma . for example lots of companies 70% wont even insure a GT . I'M 37 FROM PENRITH SYD. WIFE 35 , BOTH RATING 1.

MAFIA · 03-02-2007, 01:32 AM

Screw NRMA, that a rip off. Give Shannons a call as they'll insure not just your car but your house. And that won't charge you an arm and a leg if you know what i mean.

JC · 03-02-2007, 01:54 AM

Quote:

Originally Posted by gtfpv

if i have a GT . INSURANCE VALUE $51 000 .
and a years of ins discount :: $609
and a multi policy discount :: $406
a 65% no claim discount of :: $1980.

leaving me with a premium of $1231 to pay .

then :::: what are the discounts % wise ?
are they genuine ?
what would the full premium be . and do the percentage discounts add up. ?????
commom HSC SCHOOLIES . ./ AND MATHEMATICIANS .
are these geniune . or an illussion to make it look like your getting 65% discount + multi policy discount + loyalty discount . ???

get where i'm commin from ??????

Original Premium = $4061
Loyalty discounts:
Years of Insurance (15%) = $609
MultiPolicy (10%) = $406
New adjusted premium before NCB = 4061 - 609 - 406 = $3046
65% of $3046 is $1980
$3046 - 1980 = $1066
10% GST = $106.60
Total incl GST = $1172.60
The other $58.40 odd is probably stamp duty, fire brigade levy or some other tax (@ 5% of Total incl GST, which means you are also paying tax on tax - sucks, doesn't it?!).
Total = $1231

robjh80 · 03-02-2007, 07:23 AM

Quote:

Originally Posted by JC

Original Premium = $4061
Loyalty discounts:
Years of Insurance (15%) = $609
MultiPolicy (10%) = $406
New adjusted premium before NCB = 4061 - 609 - 406 = $3046
65% of $3046 is $1980
$3046 - 1980 = $1066
10% GST = $106.60
Total incl GST = $1172.60
The other $58.40 odd is probably stamp duty, fire brigade levy or some other tax (@ 5% of Total incl GST, which means you are also paying tax on tax - sucks, doesn't it?!).
Total = $1231

"Damn"............."that's exactly what I was just about to say"

SirJuggsalot · 03-02-2007, 09:54 AM

NRMA mark up to $500 to the premium if a car is under finance as opposed to owned outright

GXL078 · 03-02-2007, 10:17 AM

Do Shannons offer insurance for showroom stocker new cars that are daily drivers and are they competitive in this regard? I have my GXL insured with them but I am only allowed to average 3000Km per year.

Fire brigade levy? To pay to protect the homes of people who choose to live in the bush, mmmm. The government would be better off funding the fire brigade instead of spending money on themselves, on trips, furniture and artwork, etc.

gtfpv · 03-02-2007, 02:12 PM

Quote:

Originally Posted by JC

Original Premium = $4061
Loyalty discounts:
Years of Insurance (15%) = $609
MultiPolicy (10%) = $406
New adjusted premium before NCB = 4061 - 609 - 406 = $3046
65% of $3046 is $1980
$3046 - 1980 = $1066
10% GST = $106.60
Total incl GST = $1172.60
The other $58.40 odd is probably stamp duty, fire brigade levy or some other tax (@ 5% of Total incl GST, which means you are also paying tax on tax - sucks, doesn't it?!).
Total = $1231

thanks mate . looks easy when somneone who is good ar maths does it . cheers would've taken me a while to come up with that.

gtfpv · 03-02-2007, 02:13 PM

Quote:

Originally Posted by MAFIA

Screw NRMA, that a rip off. Give Shannons a call as they'll insure not just your car but your house. And that won't charge you an arm and a leg if you know what i mean.

i would if they could compete for me . but they are way dearer.

Falchoon · 03-02-2007, 02:19 PM

Quote:

Originally Posted by MAFIA

Screw NRMA, that a rip off. Give Shannons a call as they'll insure not just your car but your house. And that won't charge you an arm and a leg if you know what i mean.

Shannons were roughly double the premium of NRMA to insure my XR6T. I went and saw them a few weeks ago when I was thinking about upgrading to a F6 and they were about $100 dearer than NRMA but don't charge extra for pay-by-the-month and allow virtually unlimited mods as long as they are legal, where as NRMA you are limited with mods. I can't recall the exact figures but there wasn't much difference between insuring a XR6T and a F6 with Shannons.