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Insurance quotes for Australian M3?

Discussion in 'Australia' started by strykeroz, Jun 4, 2019.

  1. Tigger

    Tigger Member

    Joined:
    Aug 14, 2019
    Messages:
    53
    Location:
    Melbourne
    When I checked with RACV, they confirmed that the 'Market Value' policy provides new for old replacement during the first 2 years of ownership. If the car cannot be repaired, they will replace it with the a new car of the same model. If the model has been updated, then the replacement will be a new car of the updated version. If the car is discontinued, then they will try to find an equivalent, but if no equivalent exists they will pay out based on market value at time of accident considering age mileage etc.

    Basically, you will get a new car and will only be left out of pocket if Tesla stops making the Model 3 within the next 2 years.

    The insurance premium quote was a couple of hundred dollars cheaper at Market Value vs Agreed Value (at total cost including GST, LCT, delivery fee, etc.) Personally, I am planning to go with Market Value for the first 2 years then reassess the premium differential at that point again.
     
  2. dasn

    dasn Member

    Joined:
    Aug 14, 2019
    Messages:
    14
    Location:
    Sydney
    • Informative x 1
  3. thomasw

    thomasw Member

    Joined:
    Jul 16, 2019
    Messages:
    65
    Location:
    Adelaide, Australia
    Yes, it is more like you have to get a quote from their repairer, but if you want you can get one from your chosen one too and then only Comminsure decide which one to use. Even if yours was the same price they may insist on theirs given they likely own that repairer or have some other interest. I have a couple of mates who run or own crash shops and what they say is this is effectively NOT choice of repairer, they will inevitably only accept the quote from their repairer, or their repairer will always be cheaper than anyone else can quote against due to background deals.
    The fact that one of my mates has been running a shop for something like 20 years I think and can only remember once doing a Comminsure job implies they essentially to me have their own crash repairers and they are unlikely to let you go elsewhere.
    The reality of course with a Tesla is decent repairs that aren't purely body work (or maybe even are) may have to go to a approved Tesla repairer and can't be done by just any shop.

    upload_2019-9-11_19-6-58.png
     

    Attached Files:

  4. FlyingReindeer

    Joined:
    Jun 2, 2019
    Messages:
    21
    Location:
    Adelaide
    The quote I have accepted from CommInsure for my P3- of $999 ($1,500 excess) is a much better deal than the $2,400 I paid to InsureMyTesla for the Model S P85D I just sold (similar value).

    I figure if I am unfortunate and have an accident then I expect the options to fix it properly will be limited and at least I can try to point them in the right direction.

    My earlier quote with AAMI had no choice at all. And RAA wanted $4,000.
     
  5. bigbones

    bigbones Member

    Joined:
    Sep 11, 2019
    Messages:
    15
    Location:
    Brisbane
    Budget Direct quoted me around $1200. Youi initially quoted $1400 but came down to match BD when I asked (and they have a new for old replacement first 2 years).

    Now, I just need a car to insure ...
     
  6. dasn

    dasn Member

    Joined:
    Aug 14, 2019
    Messages:
    14
    Location:
    Sydney
    I just got off the phone with Youi they wont even give me a quote. Apparently a 'pop up' appeared on their computer saying they're unable to offer insurance due to the 'high value' of the vehicle. Maybe its me and they're just politely rejecting me.
     
  7. dasn

    dasn Member

    Joined:
    Aug 14, 2019
    Messages:
    14
    Location:
    Sydney
    Just tried Budget Direct's website:
    "Sorry, we can't offer you insurance right now"
    Sad times =(

    /edit
    Should add more details for reference:
    30+yo male
    10+ year licence
    No accidents/claims
    Garaged, Sydney
    P3+ FSD Red
     
  8. bigbones

    bigbones Member

    Joined:
    Sep 11, 2019
    Messages:
    15
    Location:
    Brisbane
    Dang. I'm over 40, maybe made a difference? Garaged in a safe suburb, NCD1 etc.
     
  9. raynewman

    raynewman Active Member

    Joined:
    Oct 11, 2014
    Messages:
    1,351
    Location:
    Brisbane, Australia
    It's the colour - go faster red.
     
  10. m4rtin

    m4rtin Member

    Joined:
    Jun 8, 2019
    Messages:
    82
    Location:
    Sydney
    Reading PDS is my new timefill (not), this made me chuckle:

    :eek:
     
    • Funny x 1
  11. stedes

    stedes Member

    Joined:
    May 23, 2019
    Messages:
    92
    Location:
    Sydney, NSW
    Interesting...it's quite hit and miss if you take all our experiences and put them together:

    - I got a quote from Youi on the phone last week. It was very expensive (>3k) but at no point did they indicate it's not possible
    - I have been with CBA for 11 years. Multiple cars. Multiple claims. Choice of repairer always and never have been asked to go to one they like
    - Huddle won't quote me
    - AAMI won't quote me
    - Shannon's won't quote me as I "am not a car enthusiast witnessed by the fact that I don't have any other cars with them"
    - GIO quoted me the cheapest rate so far (~$1800) which includes lifetime new for old

    Info:
    2 drivers 49 and 44
    Clean licenses >10 years
    Garaged in metro Sydney
    P+
     
  12. Danforged

    Danforged Member

    Joined:
    Sep 8, 2019
    Messages:
    11
    Location:
    Melbourne
    On the subject of GIO I just signed up with them.

    I called the call centre and told them the quote they gave me online and asked if they could beat it.
    Old mate bought it down a couple hundred no questions asked. The rest of my quote remains as is.

    Meanwhile CommInsure were actually more expensive over the phone.

    All in all super happy with what GIO were able to do
     
  13. dasn

    dasn Member

    Joined:
    Aug 14, 2019
    Messages:
    14
    Location:
    Sydney
    Good to hear at least a little positive news about CBA. CommInsure are the only ones giving me a reasonable quote $1900-$2000. NRMA wanted 3-$4000 and I already have car and house insurance with them. =(
     
  14. m4rtin

    m4rtin Member

    Joined:
    Jun 8, 2019
    Messages:
    82
    Location:
    Sydney
    I’m reading the PDS for CommInsure but can’t see any problems. Not sure I can cope with reading ones from other companies to compare. What red flags should I be looking for?
     
  15. m4rtin

    m4rtin Member

    Joined:
    Jun 8, 2019
    Messages:
    82
    Location:
    Sydney
    mmm, so no separate excess for glass is one downside of CommInsure
     
  16. m4rtin

    m4rtin Member

    Joined:
    Jun 8, 2019
    Messages:
    82
    Location:
    Sydney
    Ok, proper g33ky, but I was mucking about with the CommInsure quote permutations and combinations etc
    I put them in a spreadsheet. Sharing in case it saves someone the time/effort of clicking the options etc
    Base criteria includes M3P+, Sydney but it should give a relative indication anyway.

    insurance-quotes.png
     
    • Informative x 3
  17. dasn

    dasn Member

    Joined:
    Aug 14, 2019
    Messages:
    14
    Location:
    Sydney
    This is awesome, thanks for sharing.
     
    • Like x 1
  18. matt_mcbride

    matt_mcbride New Member

    Joined:
    Sep 2, 2019
    Messages:
    1
    Location:
    Adelaide, Australia
    How are people insuring their P3- cars? I only ever see the Long Range or full Performance models listed in the drop downs. I called AAMI to try to explain it to them, but they weren't interested.
     
  19. meowsers

    meowsers Member

    Joined:
    Jul 6, 2019
    Messages:
    424
    Location:
    Australia
    You have to insure it as a performance, some insurers actually have a factory options box where you can choose performance pack as a subheading under performance.
     
  20. Shrike_AU

    Shrike_AU Member

    Joined:
    Aug 21, 2019
    Messages:
    20
    Location:
    Melbourne
    Here's my final reasonable quotes.

    Single driver Male, 45+
    Single Claim last 3 yrs
    Garaged VIC 3032
    Quoted for Performance spec although I'm getting P-
    Metallic Paint and FSD.

    All quotes are for 2 yr new for old, with the 'agreed amount' as the minimum that they would cover.
    All quotes include 21 day hire car and Window no XS options.

    Car_Insurance.PNG

    Good Luck, the prices when you factor in one claim or write-off in 1st 2 years all come in pretty close. Still wish I could get RACW to cover me though. :eek:
     
    • Informative x 1

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