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I’ve gotten quotes from AAMI, GIO, Rollin’, NRMA. All of them are 2.4K+ per year. I’ve heard that people have been getting there’s for sub 2k/year.
Age, Previous Claims, Driving History and Location all come into the risk calculation. Which factors do you think are in play with your quote? Consider insuring under someone else's name and be a nominated driver - may be cheaper?
Are MY insurances all that expensive? How much do you pay for yours? Do you have any recommendations?
Crank up the excess to the maximum for lowest premium. Pay claims below excess out of pocket i.e. Self Insured.
It’s making seriously considering not insuring my MY, is this a bad financial decision? I like to think that I don’t drive dangerously and have not gotten into any accidents thus far.
Worst case get Third Party Fire and Theft for little more $ than Third Party Property
 
  • Everyone here is on Comprehensive because that's what normal people do with a car this price.
  • Everyone's car storage situation / driving history / age / location / KMs are all different. All of this and more change how much people pay. Everyone pays a different amount.
  • The best thing you can do is run your deets through comparison tools and compare against each other.
  • Saw your other thread - please don't drive uninsured. You'll make us look bad when you crash and end up on ACA/dailymail etc.
 
Hi All,

I’ve got a MY RWD coming this year. No VIN yet. I’ve gotten quotes from AAMI, GIO, Rollin’, NRMA. All of them are 2.4K+ per year. I’ve heard that people have been getting there’s for sub 2k/year.

Are MY insurances all that expensive? How much do you pay for yours? Do you have any recommendations?

It’s making seriously considering not insuring my MY, is this a bad financial decision? I like to think that I don’t drive dangerously and have not gotten into any accidents thus far.
insurance broker from Sydney here, happen to own a brokerage. Driving without fully comp is a bad idea.

You’ve paid whatever cost for the car and now you’re worried about the insurance premium?

I picked up my model 3 yesterday and within two hours… I was yelling at my insurance broker, which happens to be me, thanking him I have good insurance.

I don’t know how to post a photo yet but I scraped my car along the side of a skip bin.

Already worth more than the yearly premium. Let alone window and glass damage claims etc.
 
Just got the renewal for my X, it has risen from $2,600 to $3,900 (CBA Insurance). During the last year the bank has outsourced its insurance to a mob called Hollard Insurance Partners.
The 3 claims we had with them were handled really well, can't complain about the service however this is a steep rise.
Will have to shop around although I don't hold out much hope of finding anything much cheaper.
3 claims will do it, and in this hard insurance cycle, make things tough moving forward
 
I’m paying AAMI $1.1k (with maximum excess I think) for my comprehensive insurance, which includes sunroof and windscreen cover. In metro Melb.

I do think it’s an extremely bad idea to be uninsured. Even if the cost of replacing your car is immaterial (your post suggests not), you could do very expensive damage to others. I don’t think one‘s own perception of whether they’re a good driver or not or have ever had an accident should factor into the necessity of insurance.

I hope you find reasonably priced insurance - as oft repeated here, it varies hugely based on individual circumstances
 
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Two of them were not at fault so I assume Comminsure recovered costs from the other party's insurer. The 3rd was a windscreen replacement.
I’m getting the impression that it doesn’t matter whether you or the other party is at fault any longer, as far as premiums are concerns. In my insurance premium application/quotes, I’m not being asked that question. Just how many claims and what were they for.
 
I don’t want to kick the hornets nest here, and this isn’t broker speak, so do with it what you will…

1. You should not compare insurance based on price. Price is not going to help you in a claim, it’s not going to help you with the fine print. Cheap usually means nasty - nasty claims. Nasty service.
2. Don’t compare your cost to others. Insurance is now so granular when it comes to cost, your house address can impact the cost of insurance.
3. If you can’t afford $2k to insure your $60k+ vehicle, you can’t afford to drive that vehicle
4. You will eventually need to claim on insurance. May not be this year, may not be next year, but you will eventually be calling to claim.
5. Nobody cares about the cost of insurance when it comes time to claim. All they care about is they are insured and they are insured correctly.

I have taken on a significant number of distressed clients who have insured with direct insurers, because they have failed to recognise the above points.

I’m a broker with access to discounts etc and my insurance is $1,800. I wanted a policy which was right for my situation, with an insurer I knew wouldn’t try to shaft me at every turn.
 
I don’t want to kick the hornets nest here, and this isn’t broker speak, so do with it what you will…

1. You should not compare insurance based on price. Price is not going to help you in a claim, it’s not going to help you with the fine print. Cheap usually means nasty - nasty claims. Nasty service.
2. Don’t compare your cost to others. Insurance is now so granular when it comes to cost, your house address can impact the cost of insurance.
3. If you can’t afford $2k to insure your $60k+ vehicle, you can’t afford to drive that vehicle
4. You will eventually need to claim on insurance. May not be this year, may not be next year, but you will eventually be calling to claim.
5. Nobody cares about the cost of insurance when it comes time to claim. All they care about is they are insured and they are insured correctly.

I have taken on a significant number of distressed clients who have insured with direct insurers, because they have failed to recognise the above points.

I’m a broker with access to discounts etc and my insurance is $1,800. I wanted a policy which was right for my situation, with an insurer I knew wouldn’t try to shaft me at every turn.

Agreed there is a lot of stuff that goes into pricing and then there are factors that make decisions when you are insuring a Tesla
- is a hire car included or how much is it extra, is there a time limit on the hire car as when a Tesla needs to get fixed it can take longer and your hire car product my run out
- does your windscreen/glass package include all windows AND the sunroof and how many claims per year?

Thankfully some of the cheaper places don't even want to touch a Tesla so you aren't at the mercy of their limited products.
 
I don’t want to kick the hornets nest here, and this isn’t broker speak, so do with it what you will…

1. You should not compare insurance based on price. Price is not going to help you in a claim, it’s not going to help you with the fine print. Cheap usually means nasty - nasty claims. Nasty service.
Nasty as in they don't pay at all? What clauses would they typically use to get out of paying?

Or nasty as you get a bit of a run-around?

I could see brokers using some weird off-the-shelf non-retail facing companies that we haven't heard of in the mainstream.

I could handle $800 difference in premium for a bit of work in a claim if it's paid anyway. My last claim was 10+ years ago.
 
Considering a Model 3 roof glass replacement is ~$1700, my ~$2200 p.a. comprehensive insurance doesn't seem ridiculous. (I have a 2019, and the glass just cracked all of its own accord, apparently not an uncommon thing on the "early-ish" Fremont vehicles. Tesla replaced the rear glass as it was clearly a stress fracture along the bottom edge, but they disputed the roof glass crack, and so I was glad to have no excess for glass). RACV have been pleasant to deal with (Vic).

Would have liked to go with Shannons (other car) but they wanted more than $5,000 p.a. :eek: