churchy
Jun 13 2003, 03:17 AM
ok, i really want a rex, but the 1 limiting factor is the insurance.
so far i have been declined by aami, nrma, young and cool, and gio.
Justcars said 4800/yr, which is a bit too much
SO, does anyone know any companys that dont have a "no WRX's for people under 25" policy???
if you, or any1 you know is less than 25 and got insurance, even if it was under your parents name (i have a mum with a 65% NCB), i'd really love to hear about it.
Rmyers
Jun 13 2003, 05:52 AM
You could insure your car with satan! Nah the only guys i would have suggested would be Just cars, but other than that, I don't think anyone would touch ya...
Anonymous
Jun 13 2003, 07:03 AM
try jusrcar and suncrop
Chronos
Jun 13 2003, 09:34 AM
NEVER insure a car under your parents name! The insurance co. WILL find out, and in an accident you will have to pay the full amount, as if you had no insurance at all! They are canny bastards, trust me!
DrEvil
Jun 13 2003, 10:51 AM
Give Shannons a call... Prolly won't be cheap, but they might be able to give u another quote.
Mr_Bob
Jun 13 2003, 10:57 AM
QUOTE
Originally posted by Chronos:
[b]NEVER insure a car under your parents name! The insurance co. WILL find out, and in an accident you will have to pay the full amount, as if you had no insurance at all! They are canny bastards, trust me![/b]
there's no problem with insuring it under oyur parent's name but you MUST also be listed as a driver, otherwise you won't be covered in an accident.
try "young and cool"
nemesis
Jun 13 2003, 11:42 AM
QUOTE
Originally posted by Mr_Bob:
quote:
Originally posted by Chronos:
[qb][b]NEVER
insure a car under your parents name! The insurance co. WILL find out, and in an accident you will have to pay the full amount, as if you had no insurance at all! They are canny bastards, trust me![/b]
yep and with RACV and Just Cars (and i assume most others), they use the youngest driver on the policy to work out how much it will cost, so there's really no point bothering. just take it on the chin and live with it, the virtues of having a modified car and being able to live with it and not just own it
[ June 13, 2003, 09:44: Message edited by: PiMPiN5 ]
churchy
Jun 13 2003, 01:26 PM
insuring under a parents name isnt a problem. the 2 arguments i've heard against it have been that the insurance company won't cover you if ur under 25 and have an accident, and that you don't build up a no-claim bonus unless you are insured on your own.
both of these claims are rubbish. If you are "getting insured in your parents name", i take this to mean you're parents own the car, insure the car, and you are listed as a nominated driver. In this case, if the company wont cover you, they say they wont cover me. my mum was quote 1400/yr to insure the car i want, but as soon as she said "my 20yo son" they said no. justcars calculate the excess based on the most inexperienced driver.
secondly, being a nominated driver allows you to build your NCB. i have never had comprehensive insurance, i have a ctp policy with nrma, yet they offer me a 45% NCB. Just cars, who i have never had a policy with offer me a 35% ncb. both of these NCB;s are calculated on my driving history. If i was 24, been driving since i was 17, never had an accident or a speeding fine, i oculd turn up at basically any australian insurer and they would give me a 65% NCB because of my driving histry NOT because of any prioor policies i have had.
young and cool dont do rexxes, RACQ don't operate in nsw, RACV dont operate in nsw, shannons only do "special" cars. apparently a wrx is not special enough
lancerman
Jun 14 2003, 02:08 AM
QUOTE
Originally posted by churchy:
insuring under a parents name isnt a problem. the 2 arguments i've heard against it have been that the insurance company won't cover you if ur under 25 and have an accident, and that you don't build up a no-claim bonus unless you are insured on your own.
both of these claims are rubbish. If you are "getting insured in your parents name", i take this to mean you're parents own the car, insure the car, and you are listed as a nominated driver. In this case, if the company wont cover you, they say they wont cover me. my mum was quote 1400/yr to insure the car i want, but as soon as she said "my 20yo son" they said no. justcars calculate the excess based on the most inexperienced driver.
secondly, being a nominated driver allows you to build your NCB. i have never had comprehensive insurance, i have a ctp policy with nrma, yet they offer me a 45% NCB. Just cars, who i have never had a policy with offer me a 35% ncb. both of these NCB;s are calculated on my driving history. If i was 24, been driving since i was 17, never had an accident or a speeding fine, i oculd turn up at basically any australian insurer and they would give me a 65% NCB because of my driving histry NOT because of any prioor policies i have had.
young and cool dont do rexxes, RACQ don't operate in nsw, RACV dont operate in nsw, shannons only do "special" cars. apparently a wrx is not special enough
You are correct on both counts. However, if you don't have your own policy, you will never be offered rating 1, the best you will get is rating 2 when you first get your own policy. This is the only shortfall, and its not much.
Getting insurance is a pain. However, think about it this way. If you were an insurance company, objectively, would you want to insure a 20yo male with w WRX? And if you would, how much would you charge them for it?
I think its getting worse recently though. I remember when I was 18, I could get insurance for a Laser TX3 Turbo with AAMI, and the cost was only $1200/yr.
Nowadays, if I hadn't been with AAMI for so many years, they wouldn't even insure me with a 1.8l manual Lancer...
Macca
Jun 13 2003, 06:33 PM
I have my mirage insured under ma mums name with me as a listed driver, and parked where i live. The car is also registered in mums name
As for the insurance, i reccomend finding an insurance broker
east_bay_punk
Jun 13 2003, 09:16 PM
the way i got around paying a HUGE insurance bill was to get my car listed under dual ownership me/mum own the car together.
just cars want $4000, nrma $1500.
just cars also hit you pretty big with your excess'
lotulu
Jun 13 2003, 09:25 PM
not sure if these guys are reliable
http://www.fordinsure.com.au/but my friend insured his rex there for 4000$
its expensive but next lowest to insure him was justcars at 8000$ and no one else would even consider it
his under 25 and has lost his liscense once aswell
eMitch
Jun 13 2003, 09:37 PM
You tried an insurance broker?
WRXCORE
Jun 13 2003, 11:46 PM
Insurance brokers dont like under 25's with WRX's hahaha.
Shannons wont touch ya till your 25+ with a REX.
The cheapest way to get insurance for a rex is move to Tassie or SA they pay about $800 a year.
HDT
Jun 14 2003, 04:37 PM
Guys,
Here's a word from the wise hehehe
I just asked my old man, being in the insurance business for 35 year i thought he may be able to help.
Basically it boils down to this (if the situation in the east is the same as here in the west)
No insurance company really wants to touch REX's at the moment, regardless of age, apparently a while back he got a memo saying be very careful, as heaps of WRX's were being stolen, so the companies didn't really want to insure any of them....ie High Risk....after all, they are out to make money.
Anyhow, being under 25 really just compounds it even further....
And by the way...if you have fully comprehensive...you smash your car, anyone smashes your car you are covered....worst case scenario you have to pay full excess amount...
That is standard policy, the only way you forfit your insurance really is by DUI or having a limited driver policy to lower your policy cost
Just some info that I thought may help
Nos
Jun 15 2003, 07:36 PM
When I had my first car, a VN Calais, we had it insured under my mum's name with me listed as the second driver. I had a Volvo T-bone me, which wrote the car off. While the insurance company did not find me at fault, which I wasn't, my mum still lost her rating one. So that is something else to think about.
In regards to an actual insurer, one of my friends got a quote for an '83 Porsche 911 from CGU for about $1000, he is only 21 but has a good driving history. He ended up getting an Integra Type R and they insured him with that too.
lotulu
Jun 15 2003, 07:46 PM
QUOTE
Originally posted by Nos:
When I had my first car, a VN Calais, we had it insured under my mum's name with me listed as the second driver. I had a Volvo T-bone me, which wrote the car off. While the insurance company did not find me at fault, which I wasn't, my mum still lost her rating one. So that is something else to think about.
thats weird, if not ur fault then ur insurance isnt gonna lose ne money, so it shouldnt affect urs or ur mums rating. the other persons insurance is the one payin u the car and will take NCB of the other driver. unless the other driver didnt have an insurance and cant afford to pay, then maybe ur insurance company had to pay u an penalised ur mum
[ June 15, 2003, 17:47: Message edited by: lotulu ]
Axis
Jun 16 2003, 01:36 AM
QUOTE
Originally posted by WRXCORE:
The cheapest way to get insurance for a rex is move to Tassie or SA they pay about $800 a year.
I don't know where you're getting your facts from but Insurance down here in Tassie is just the same as anywhere else. All the insurance companies are nationwide anyhow.... My flatmate is looking for a car at the moment and is limited by the insurance factor on many of his models of choice...
[ June 15, 2003, 23:36: Message edited by: Axis ]
Slider
Jun 16 2003, 03:08 AM
QUOTE
Originally posted by WRXCORE:
The cheapest way to get insurance for a rex is move to Tassie or SA they pay about $800 a year.
under 25 in SA for a WRX, IF you can find insurance dont expect it to be below $3000 a year
Funklemeister
Jun 16 2003, 01:38 PM
There are a couple of brokers going around at the moment using off shore underwriters (Cayman Islands, Bosnia). This means if you happen to have a dispute with them, you can't just go to the ombudsman to fight it out, you need to take legal action - the upside is they are much cheaper - they offered me $1300 a year for a mildly modified 99 Rex under 25 Rating 1 - or roughly $800 cheaper than my next quote.
I decided to fork out the extra money and go with someone Australian based and hopefully slightly less dodgy (less dodgy and insurance companies probably shouldn't be mentioned in the same paragraph really).
The only Aussie co's I found willing to insure under 25's were Just Car, Suncorp and RACV.
lancer guy
Jun 17 2003, 12:18 PM
QUOTE
Originally posted by Axis:
[QB
I don't know where you're getting your facts from but Insurance down here in Tassie is just the same as anywhere else.[/QB]
It's actually quite different. My 94 Lancer and my sisters 94 corolla are worth about the same except I live in Hobart and she lives in the eastern suburbs of Sydney. My insurance is $400 a year and hers is $1000 - both rating one. I think (I could be wrong) that insurance is based alot on the address where the car is garaged.
95futura
Jun 17 2003, 04:42 PM
Insurance is not an exact science.
All companies aim to minimise risk and maximise profits - it doesn't matter how nice they make themselves out to be in the ads - they will always protect their bottom line.
Factors such as Driver age, driver history, vehicle type, garage location, modifications - (good and bad according to them!) are all taken into account.
The other big thing is getting to talk to the risk manager and not to some lackey who is too scared to speak outside the speil given to them for phone enquiries.
I had a risk manager who agreed to an inspection of the car and once he was satisfied that none of the stereo could be seen from outside the car then I got good cover......
Hope you find something.....the other option is to get thrid party property and sleep in the Rex with a shotgun!
Jet
Jun 19 2003, 09:52 PM
QUOTE
You are correct on both counts. However, if you don't have your own policy, you will never be offered rating 1, the best you will get is rating 2 when you first get your own policy. This is the only shortfall, and its not much.
Sorry Lancerman but you may not be entirely right.
I was a nominated driver under my mum's insurance policy for 5 years (I've been driving for 6). I rang RACV and they told me I'm a rating 1 driver.
A few years ago I had to make a no-fault claim and they were cool about it. No problems at all.
harris_r31
Jun 21 2003, 08:20 PM
to my knowledge just car's dont look at any previous insurance history when u were a listed driver.
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