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Thread: Car insurance

  1. #1
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    Default Car insurance

    Hey.
    I'm planning to buy my first car soon, and i've gotta sort out insurance.
    First - i'm 18, Male, on Full L, with no problems on my record etc.
    If i got a pretty basic (1.5L etc) car for say $3000 - roughly how much would it cost PA?

    ANd say i got like a $8000 2L Turbo car, how much would it be then??!

    And could i get insurance under my parents name and they have it so i can drive it?
    Would this work out cheaper?

    o, and any recomended companies?

    Cheers
    There are 10 people in life, those that know Binary, and those that don't.

  2. #2
    Moderator Jen's Avatar
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    Default Re: Car insurance

    You got a lot stacked against you there. A turbo charged car for starters. That combined with a male driver under 25 will only add the $$$'s. You can get your parents to insure it, and have you as a named under 25 driver which may work out cheaper. I suggest you ring a couple of insurers and get some quotes. Get your parents to get a quote under their policy as well.

  3. #3
    Almost ReMember Scouse's Avatar
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    Default Re: Car insurance

    You can get your parents to insure it, and have you as a named under 25 driver I didn't think that you could insure someone else's property...... If the insurance company work out that there is a change of ownership to the parents just to lower the rates - boom boom.

  4. #4
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    Default Re: Car insurance

    Quote Originally Posted by Scouse
    You can get your parents to insure it, and have you as a named under 25 driver I didn't think that you could insure someone else's property...... If the insurance company work out that there is a change of ownership to the parents just to lower the rates - boom boom.
    Correct. If the insurance company argues that the named driver is actually the main driver, they could refuse to pay out.

    Some alternative advice: keep and insure the $3000 car under third-party fire & theft. Forget about the $8000 turbo - save the money for a deposit on a house. A $8000 turbo has been abused and run to the ground by the time you inherit it, and the insurance, maintenance and running costs will make your eyes water.

  5. #5
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    Default Re: Car insurance

    lol yea valid point!
    as for the insurance stuff (tho i'm most likely going to get a decent car around $5k) wot would happen if it was the parents car (tehy owned it) and i just drove it?

    does it matter hu owns it and hu drives it the most?

  6. #6
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    Default Re: Car insurance

    Good advice there.
    Whatever car you get, as a male under 25, you'll be on the insurance company's top premium rate.
    (You guys are the ones who have the most claims, alas).
    Also, as a beginner with no history (so no chance of No Claims Bonus) your first year's premium will be high, anyway.
    They may insist on you having a high excess as well.
    So merely taking out 3rd party insurance in case you damage someone else's may be your best bet.

    (And they won't wear the story that it's your parents' car at $3000 if they've already got another one. Don't even think about that...)

  7. #7
    Modulator Greg's Avatar
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    Default Re: Car insurance

    How about *shock horror* no insurance at all?

    I mean, drive carefully, keep it locked up at night, and alarmed, and you'll minimise the risk of it being pinched or smashed.

    If someone smashes you, sue them/their insurance company.

    I don't know exact figures, but it's obvious to assume that insurance companies play the odds, ergo you're unlikely to lose money in the mid-term by not insuring even if the car does get stolen or written off eventually.
    Bugger the cancer. I'm suffering from terminal inertia.

  8. #8
    Moderator Jen's Avatar
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    Default Re: Car insurance

    Quote Originally Posted by Scouse
    You can get your parents to insure it, and have you as a named under 25 driver I didn't think that you could insure someone else's property...... If the insurance company work out that there is a change of ownership to the parents just to lower the rates - boom boom.
    Hmm ... didn't make myself too clear there. I should of added that the car ownership would have to in the parents name as well from the start if they were to have the insurance. It is quite right, you cannot insure a car you do not own. However, after saying that I checked out the ICNZ and see that it isn't permitted anyway (however often I'm sure it must happen). Scratch that as an idea then.

  9. #9
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    Default Re: Car insurance

    Just realised I didn't answer one question: Does it matter who owns it/drives it the most?

    It certainly does for my insurers (AMI) Can't speak for others.
    It's one of the things you have to be specific on in your application, before they decide on what premium they'll charge.
    My premium's calculated on the basis that NOBODY under 25 will be driving - otherwise it would be higher.
    That's not to say they wouldn't pay out on an accident with an under 25year-old driving, but they would charge me a much higher excess on it. (Two different rates for that, I think, depending on how long the licence had been held)
    My theft excess is high (Boy racers & I apparently have something in common) but some companies reduce that if you fit an immobiliser. There are differing requirements.
    As for companies - AMI has a good reputation. So has AA (discount also if you're a member). State's another biggie.
    But as Consumers Institute covered this stuff within the past few months - different firms for different needs - Google to see whether that article's in their online archive.
    Lastly, insurers will give you a quote on the phone, and I recall being able to make estimates myself from their websites on the weekend when I bought my motor.

  10. #10
    Almost ReMember Scouse's Avatar
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    Default Re: Car insurance

    I thought I would help a 16 year old g'daughter by taking her for driving practice during the school holiday visit. Checked with my insurance company, where I had a "no under 25 drivers" policy. They said yes, go ahead but the whole structure of the policy would change, including the no-claims moving from $250 to $1000 immediately. Training cancelled.....

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