Car Insurance Options

[Vostok]

I’ve done my usual “anti lazy tax” annual review of car insurance and my current insurer remained the best option (albeit still not cheap at > $2k) but what I did find interesting was how different insurers disguise their premiums with either lower “agreed value” or higher excesses or policy restrictions/omissions as the default when they present the quote.

I nearly got tricked on one that looked quite competitive until I saw the excess was double what I currently had and “agreed value” a lot lower. Equalize those and their premium became more expensive.

The other interesting thing is the upper limit different insurers allowed me to insure my car for - it varied by $20k. In the end with my current insurer, I could insure it for the same amount as the drive-away cost of a new Model 3 LR! So I did. It’s like having a ‘new for old’ replacement option on a 4 year old car, should it get written off.

And glass insurance is mandatory with a Tesla IMO. You’d be nuts to not have it.

 

[danesuper6]

I'm with Allianz and my insurance is up for renewal at the start of January. The monthly fee went from $135 up to $249. Overall cost has doubled. I did have a claim where garage shelving fell on my car so that has affected it.

I spoke to Allianz and a couple of other providers, and they all cited the lack of spare parts and the length of time it takes to repair as the main reason the prices went up. I'm sticking with Allianz as they're still the cheapest. It sucks because the claims process really sucked... they were terrible.

Some prices for comparison:
42 years old, Western Sydney.

Allianz: $2,950 - excess $800
Youi: $3,370 - excess $800
NRMA comprehensive plus (glass): $3,550 - excess $1,100
Rollin: $3,242 - excess $800 (No new for old replacement, 1 glass per year)
Everything on the Compare the Market website: $4,200-$5,000

 

[aceon]

Everything on the Compare the Market website: $4,200-$5,000

Compare the market is owned by Auto & General Insurance. Based on my experience it doesn’t really do what the name says.

 

[mrpseudonym]

Just a word of warning re windscreen ’no excess’ replacement. Check the fine print… I was about to insure another car (not a tesla) and the insurance company had the usual windscreen replacement with no excess *except* that in the fine print the windscreen cost was capped at $1500.

 

[raynewman]

I'm with Allianz and my insurance is up for renewal at the start of January. The monthly fee went from $135 up to $249. Overall cost has doubled. I did have a claim where garage shelving fell on my car so that has affected it.

I spoke to Allianz and a couple of other providers, and they all cited the lack of spare parts and the length of time it takes to repair as the main reason the prices went up. I'm sticking with Allianz as they're still the cheapest. It sucks because the claims process really sucked... they were terrible.

Some prices for comparison:
42 years old, Western Sydney.

Allianz: $2,950 - excess $800
Youi: $3,370 - excess $800
NRMA comprehensive plus (glass): $3,550 - excess $1,100
Rollin: $3,242 - excess $800 (No new for old replacement, 1 glass per year)
Everything on the Compare the Market website: $4,200-$5,000

They are all crooks; as I said before, I have a 2015 S 85, a 2020 3 LR and a 2023 Y RWD all at ~$800 PA with Allianz.
All policies have excess ~$1500 and one included windscreen; low km ~15,000 PA helps.
No limit on drivers as I have a P driver (law stops him from driving the 3).

 

[Mes1]

Aight Rant time!

Going for Insurance quote from NRMA, If I enter what I am supposed to even though its a bloody 2024 car being delivered in 2024 instead of the MY23.5 as told to me by Tesla then my premium goes up $140.

Same car same, market value insured choice, with $1100 excess, just wording difference, its the same bloody car MY23.5 MY24 FFS ...

2023, TESLA MODEL 3 SEDAN, REAR-WHLDR MY23.5 0.0L E - $1,643.50
2024, TESLA MODEL 3 SEDAN, REARWHLDR MY24 0.0L E - $1,502.81

$140 more for what, because my car was built 4 weeks ago vs being built in January?

Agh can I demend they honour 2024 price since really well it is

 

[Goneincognito]

When was it built?
2023 or 2024?

As you said, it was built 4 weeks ago so it's a 2023 car.
You don't insure a car based on the year it was delivered.

 

[Mes1]

When was it built?
2023 or 2024?

As you said, it was built 4 weeks ago so it's a 2023 car.
You don't insure a car based on the year it was delivered.

December 11th 2023 built date, so just sharing my frustration that its the same car built only 3 weeks before the new year but price is more $$ vs inputting 2024 into the quote,. so had it been built 3 weeks later, even though its still the same car I'd save money on insurance hah

Yes ofcourse for compliance and ensuring I get paid out in any event I'd have to put 2023 MY23.5

Big rort!

 

[Goneincognito]

December 11th 2023 built date, so just sharing my frustration that its the same car built only 3 weeks before the new year but price is more $$ vs inputting 2024 into the quote,. so had it been built 3 weeks later, even though its still the same car I'd save money on insurance hah

Yes ofcourse for compliance and ensuring I get paid out in any event I'd have to put 2023 MY23.5

Big rort!

It sucks but that's just how insurance works.

There have been more claims made for a 2023 vehicle so there is a greater risk.
This is why the premium is higher.

 

[Mes1]

It sucks but that's just how insurance works.

There have been more claims made for a 2023 vehicle so there is a greater risk.
This is why the premium is higher.

Haha well that's the irony of it isn't it, yes sure more claims but this car wasn't even delivered until the new year so its just profiteering, blaming 2023 cars when this car only started getting deliveries like a week ago

 

[avfc1982]

Haha well that's the irony of it isn't it, yes sure more claims but this car wasn't even delivered until the new year so its just profiteering, blaming 2023 cars when this car only started getting deliveries like a week ago

I would suggest double checking this with Tesla, specifically checking if your final invoice shows MY23.5 or MY24. There was some discussion about this on the WA Tesla's owner group on Facebook today and someone received clarification from their sales assistant that they in fact have a 2024 car for insurance purposes.

 

[avfc1982]

In fact, see below that I received from Tesla just a minute ago:

 

[Goneincognito]

Haha well that's the irony of it isn't it, yes sure more claims but this car wasn't even delivered until the new year so its just profiteering, blaming 2023 cars when this car only started getting deliveries like a week ago

That's not your insurers fault.

 

[jq371]

My NL company had chosen insurance for me with Allianz I believe and if was $3,244.55 for the year.

I looked around and NRMA seemed to be really good (well half of the $3,244.55)

 

[Mes1]

My NL company had chosen insurance for me with Allianz I believe and if was $3,244.55 for the year.

I looked around and NRMA seemed to be really good (well half of the $3,244.55)

Wow big saving!

On your quote does your NL require you to add them on section where says finance?

Doing so with my quote makes it go up $200 a year, so will double check with my NL if not require to add them then will leave out

Without mentioning NL, My NRMA quote came to $1734 in Sydney full insurance for my23.5 model 3 rwd. All options ticked ie windscreen, any repairer and ncb protection.

 

[jq371]

Wow big saving!

On your quote does your NL require you to add them on section where says finance?

Doing so with my quote makes it go up $200 a year, so will double check with my NL if not require to add them then will leave out

Without mentioning NL, My NRMA quote came to $1734 in Sydney full insurance for my23.5 model 3 rwd. All options ticked ie windscreen, any repairer and ncb protection.

Yes… NRMA asked me if the car was financed/leased. I ticked yes and then the finance company my NL uses was an option to select

 

[HeyStevenMyBoy]

For the younger crowd, ROLLiN’ insurance (owned by IAG) is quite competitive.. just quoted $138/month for new M3 in the ACT.

I'm looking at Rollin now for my new Highland. Only thing I'm concerned about is their repairer list here in the ACT is Motorserve Fyshwick & Motorserve Mitchell. Do you know if they repair Tesla's at all? Can't seem to find anything and their PDS is a bit vague

 

[mrpseudonym]

My NL company had chosen insurance for me with Allianz I believe and if was $3,244.55 for the year.

I looked around and NRMA seemed to be really good (well half of the $3,244.55)

Rare to see “really good” and NRMA in the same sentence

 

[cafz]

Rare to see “really good” and NRMA in the same sentence

Personally I found NRMA Insurance much better to deal with than AAMI.

 

[cafz]

Only thing I'm concerned about is their repairer list here in the ACT is Motorserve Fyshwick & Motorserve Mitchell. Do you know if they repair Tesla's at all? Can't seem to find anything and their PDS is a bit vague

I believe Motorserve is one of those insurance assessment centres, they're supposed to figure out what repairs are needed and then organise them.

Personally I'd pay quite a bit more not to have to deal with those places.