insurance: young blokes with done up cars

[GlennBA]

Hey guys,
I'm just wondering who you young guys (around my age) go through for insurance.
My cars a stock AUII 6cyl, but i'ts got things like bodykit, exhaust, 19" rims going on, and lowered suspension going on.
Who should i go through for insurance? I'm turbing 18 in like a week.. and just car insurance have quoted me $1851.00...
I think i will have to go through them because of the stuff done/getting done to the car.. no one else will insure it, especially with the rims..

Any suggestions? or should i bite the bullet and cough up the money.. :

Glenn

[JC]

Do just cars do pay by the month? I reckon they are going to be your only shot.

If you had 18X8s, then you may get away with kit, mags and lowering. Most insurance companies allow 3 mods - you may be able to convince them that body kit is factory option, or at least dealer fit, so that would leave rims, suspension & exhaust.

[b0son]

Originally Posted by JC

you may be able to convince them that body kit is factory option, or at least dealer fit, so that would leave rims, suspension & exhaust.

I wouldnt risk that. Firstly, an assessor will be able to tell the difference between factory and aftermarket. Secondly, insurance companies have been known to check with previous owners as to what was fitted before/after the new owner bought the car, when there was doubt.

[Yaw]

Originally Posted by JC

Do just cars do pay by the month? I reckon they are going to be your only shot.

If you had 18X8s, then you may get away with kit, mags and lowering. Most insurance companies allow 3 mods - you may be able to convince them that body kit is factory option, or at least dealer fit, so that would leave rims, suspension & exhaust.

Even if it is a factory option it is a modification. If the model does not come with it as standard equipment and it was a factory option, ie you paid extra for it IT IS A MODIFACTION OR ACCESSORIE.
When someone gives a model to the insurer and they get the correct car up in thier system it shows the list of standard accessories and mods that come with that car. any others are extras meanings Mods or accessories.

[Yaw]

It just dawned on me that most of you guys must not be aware of how pay by the month insurance works.
When you have a total loss (write Off or stolen) You are required to pay out the outstanding amount of the anual insurance. That is to say for the purpose of this example lets say you pay $100 per month. That is 12 instalments of $100. You have an accident that causes a total loss to your car (write off) in the first month of the insurance. Before you are paid out you will need to pay off the rest of the years insurance. 11 installments of $100= $1100.
Now to this figure add your standard excess, your age excess and any other special excesses.
An excess is payable when you are unable to identify the third party at fault.

[brenx]

Originally Posted by Yaw

It just dawned on me that most of you guys must not be aware of how pay by the month insurance works.
When you have a total loss (write Off or stolen) You are required to pay out the outstanding amount of the anual insurance. That is to say for the purpose of this example lets say you pay $100 per month. That is 12 instalments of $100. You have an accident that causes a total loss to your car (write off) in the first month of the insurance. Before you are paid out you will need to pay off the rest of the years insurance. 11 installments of $100= $1100.
Now to this figure add your standard excess, your age excess and any other special excesses.
An excess is payable when you are unable to identify the third party at fault.

Correct. The aim is not to have an at fault acccident though.

[LTDHO]

Originally Posted by Yaw

Even if it is a factory option it is a modification. If the model does not come with it as standard equipment and it was a factory option, ie you paid extra for it IT IS A MODIFACTION OR ACCESSORIE.
When someone gives a model to the insurer and they get the correct car up in thier system it shows the list of standard accessories and mods that come with that car. any others are extras meanings Mods or accessories.

This is true, so many think a car has to be lowered or have mags to be modified. Air Con, Tow bar, tint, are all mod's.

Originally Posted by Yaw

It just dawned on me that most of you guys must not be aware of how pay by the month insurance works.
When you have a total loss (write Off or stolen) You are required to pay out the outstanding amount of the anual insurance. That is to say for the purpose of this example lets say you pay $100 per month. That is 12 instalments of $100. You have an accident that causes a total loss to your car (write off) in the first month of the insurance. Before you are paid out you will need to pay off the rest of the years insurance. 11 installments of $100= $1100.
Now to this figure add your standard excess, your age excess and any other special excesses.
An excess is payable when you are unable to identify the third party at fault.

Both these are explaned in the PDS or policy booklet which you have all read and know this already.

Right?

[apolloxbgt]

Go for it mate,when I was 20 cheapest I could get on a near stock ebxr8 was $2500 (justcars),so $1850 sounds cheap.

[qwigybo]

i was paying $1800 for ba xr6 when i was 18. what state are you in glenn, if in vic for for racv so long as they are 19x9 or 19x8 they will insure you they allow 2" wider rims and 1/3 of purchase price in modifications

[Envious]

go with just car glenn, trust me, they are the only ones that will insure you for such a low price. but unfortunately they dont have pay by the month yet...

[GlennBA]

nah no pay by the month. I have the money to pay up front. I think i'll have to pay up front. Rims are 19x8.5 Front, 19x9.5 rear and i'm in QLD.
I'm told it will go down to $1480 if i wait until i've had my licence for 12 months.. ( about june) which i really do not want to do, i want the car finished very soon.

:(

[TheSneakiness]

Wow, they charge alot for insurance for young blokes...

Your best bet would be through Just Cars. I'm pretty sure they don't do PBTM, but it couldn't hurt to ask.

RACQ currently charge $60/month for me, with all mods bar the head unit... that will go down to about $50/month when I get Rating 1 in July...

[M14A-Mclaren]

So if your a ricer and have all show no go they will charge you more for insurance? do stickers class as a mod?

[YuGoStaR]

EL XR6, rims, exhaust, lowered, $2700 in melbourne. For Full comp.
Sucks to be me. So i gave it to my dad, untill im 21.

[TTNOS8]

Originally Posted by YuGoStaR

EL XR6, rims, exhaust, lowered, $2700 in melbourne. For Full comp.
Sucks to be me. So i gave it to my dad, untill im 21.

Thats a good idea. So when you turn 21 you'll have no insurance rating and have to start from scratch again..... :ticking:

Dude, make sure your old boy lists you as the ONLY driver. Sometimes this can help when you go to get you own insurance. Oh, don't crash too... :eclipsee_

[blutura]

Originally Posted by TTNOS8

Thats a good idea. So when you turn 21 you'll have no insurance rating and have to start from scratch again..... :ticking:

err, thats not actually true...

if he insures it in his dad's name and then gets it transferred into his own when he's 21, then provided he has not made a claim in those 3 years than he will be able to start as a rating 2 or 1 or whatever he would have been if he had it insured in his name from the start. my brother and i have both done this.

[TTNOS8]

Originally Posted by blutura

err, thats not actually true...

if he insures it in his dad's name and then gets it transferred into his own when he's 21, then provided he has not made a claim in those 3 years than he will be able to start as a rating 2 or 1 or whatever he would have been if he had it insured in his name from the start. my brother and i have both done this.

err, with the majority of insurance companies...... yes it is.

As you have said above, having it in your parents name, and transferring it can work. CAN.

This is how I became a rating one at 21. Insurance in my families policy, but with me as the insured since I was 16 (lived on a farm). It was only third party too.

When I went to insure my own car/s, and was asked for proof of prior insurance, most wouldn't accept the above. Few did accept it.

I have also seen countless mates and relatives in the same boat. Insurance through their parents, go to get their own insurance. Start from scratch :(

Like i say though, have the policy written so that you are the only/most frequent driver, or you are the insured but through your parents, and it can save you big dollars in years to come.

Or what I've told younger mates to do since. Buy a cheapo run around/paddock bomb at 15/16, insure for bomb insurance (like $80 to $120 a year for a HJ 253 one-tonner), never claim (even if you do stack it... lol) and by the time your 18 you've got a rating 3 or 2 or higher ;)

[NEG]

I just get 3rd party and hope i dont crash. or if i do the money saved on insurance i can just buy a new car.

[FRDXR6]

Originally Posted by YuGoStaR

EL XR6, rims, exhaust, lowered, $2700 in melbourne. For Full comp.
Sucks to be me. So i gave it to my dad, untill im 21.

I got quoted $3.2k for my XR6 when i turned 18. What i did is insured it under mums name with my name also on the policy - $1.5k

[TTNOS8]

Insurance is its own worst enemy.

The people who you could say need insurance coverage the most (young drivers without a lot of $$), have to pay the highest premiums, excesses, etc.

Ridiculous.

I would very strongly suggest having at least bomb (third party) insurance, or even third party fire and theft to cover your bum a bit.

I cannot believe people get around without insurance.

I used to have no insurance, and only some on my cars, until some accidents close to home made me wake up. Very good mate had just got his licence, been fixing up his VW Beetle (lol) with his grandpa since he was 14, looked very scmick, but had no coin for insurance.

Moved to uni in Melbourne, Was stopped at a red light, hit by a woman driving a C-Class Mercedes, and has to spend the rest of his working life paying off someone else's ferk-up. He wasn't even at fault!!

The government should make bomb insurance mandatory, but at an affordable $$ figure for us young-uns.

In regards to your quote, I found Just Cars to be at number 3 & 4 for lowest premium charges on the last 3 modded cars I've quotted for insurance. I rang 24 places.

Try Young & Cool in NSW (driver training helps ;) ), even Shannons for bomb insurance (won't cover you for full until 21). Maybe RACV if you talk right. Or unique (can be pricey)

LOL, you think these prices are high, I had a perfect driving and insurance history since 16 years old, one insurance company quoted me $5600 premium per year, and over $6000 excess when I was 19 for my Senator!! They said they'd cover anyone... LOL

3100 Premium with 900 Excess on a LS Ford Focus LX.

I'm only 18, in the top 5 highest car theft postcodes in Australia, and have had an at-fault accident before.

[AdzT3-146]

Originally Posted by GlennAUII

Hey guys,
I'm just wondering who you young guys (around my age) go through for insurance.
My cars a stock AUII 6cyl, but i'ts got things like bodykit, exhaust, 19" rims going on, and lowered suspension going on.
Who should i go through for insurance? I'm turbing 18 in like a week.. and just car insurance have quoted me $1851.00...
I think i will have to go through them because of the stuff done/getting done to the car.. no one else will insure it, especially with the rims..

Any suggestions? or should i bite the bullet and cough up the money.. :

Glenn

I'm 19 and paid similar when i had my old EF. Had rims, lowered, full exhaust, LSD, Stereo, Tints etc..

Now with the XR8 mine is well over $2000.
I'm With JCI, no pay by the month sux though.

[Feathers]

I went with Young & Cool (they were the last place I called, due to me not taking the name too seriously)

$1127.41 premium, but $1000 excess, and they only cover for theft when you have a passive arming 3 point immobiliser fitted.

Just Cars wanted $4011 a year for a stock BA XR6. I laughed and hung up.

I did manage to get my 60% NCB transferred over from my previous insurer, and have a clean record though. Plus I'm female.

[aimzes]

Originally Posted by Feathers

I went with Young & Cool (they were the last place I called, due to me not taking the name too seriously)

$1127.41 premium, but $1000 excess, and they only cover for theft when you have a passive arming 3 point immobiliser fitted.

Just Cars wanted $4011 a year for a stock BA XR6. I laughed and hung up.

I did manage to get my 60% NCB transferred over from my previous insurer, and have a clean record though. Plus I'm female.

mate how old are you? im 21 and last year (when i got the qoute from just cars) i was still in my last year paying extra because my licence was suspended, you know how you pay more for 3 years?

anyway for a ba xr6t covered for $35k they wanted $2500 and that was with 3 mods. how the f can they think of charging you $4k?

[Feathers]

Originally Posted by aimzes

mate how old are you? im 21 and last year (when i got the qoute from just cars) i was still in my last year paying extra because my licence was suspended, you know how you pay more for 3 years?

anyway for a ba xr6t covered for $35k they wanted $2500 and that was with 3 mods. how the f can they think of charging you $4k?

22 for another 6 weeks or so. I was 21 at the time I called around.
They also wouldn't transfer over my NCB, as I was only listed as a driver on my old car, which was registered in my father's name.
Even with a letter from GIO stating that they would have been prepared to give me a 60% NCB right away, if they had insured the XR. (which they won't touch, even if it had been my father's, they won't insure that kind of car.)

Like I said, I laughed at the guy on the phone and hung up.

Im with NRMA, 1500 a year with the mods done to AUII xr6 ute. Ex/Extr's, intake, 18's, hardcover.

But they will not let me lower it and it is killing me, Im dying to do it! Only Just car will allow me to lower,it, but they dont allow pay by the month, which is the real turn off for me...

Originally Posted by hambo_12

Im with NRMA, 1500 a year with the mods done to AUII xr6 ute. Ex/Extr's, intake, 18's, hardcover.

But they will not let me lower it and it is killing me, Im dying to do it! Only Just car will allow me to lower,it, but they dont allow pay by the month, which is the real turn off for me...

Have you asked recently? NRMA have seemed to have loosened up, as long as its roadworthy its fine ive been told...

Originally Posted by BlackLS

Have you asked recently? NRMA have seemed to have loosened up, as long as its roadworthy its fine ive been told...

WOW! Ill be asking again thats for sure! :

[Smoke Pursuit]

Well you will recall i had my AU III XR6 VCT when i was your age the cheapest at the time was RACQ.. it was around the 3 grand mark..

At the moment however I just got a quote from Just cars and they seem to be much cheaper on the BA XR6, around the $1100 mark.

Im 20, no driving offences or accidents and I live an in upmarket area, oh and the car is garaged.

[qwigybo]

geez and i thought mine was a pricey quote at $1100 for an xr8 insured at $35,000 i'm 21 with no accidents racv seems to be the way in vic well for me anyway :P