Insurance Cost

[K & M McF Senior Member Find all posts View Profile Close K & M McF]

I have a 1999 Prado which I just renewed its insurance. I have had cars for more than 37 years and for all but two of those years have used GIO (ex NSW Govt Insurance Office). This year my insurance was over $950 for a value of about $8,800. I tried NRMA and for a value of over $10,000 the cost was $660 with the same excess etc.

How the hell can one company be about 33% cheaper, especially when it has always been much more expensive, even last year?

[fido666 Banned Find all posts View Profile Close fido666]

It's called the "new business vs old business" rate, next year the premium will most likely go up if you stay with them.

[kav Avid PP Poster! Find all posts View Profile Close kav]

I went to Coles for mine and saved $600 . I'm now checking my household and contents , and going from $2043 with GIO to less than a thousand with Coles .see ya GIO , see ya NRMA .

[djsupersleuth Lurker Find all posts View Profile Close djsupersleuth]

Hi, I insured my new 2014 GXL last month for $565 with Bingle. Not bad for an insured value of $65k. Agree that you need to shop around every year - there is no loyalty with insurance companies or banks these days.

[Chris220220 Senior Member Find all posts View Profile Close Chris220220]

We just got our renewal and it is around $1000. Time to look around judging by the other quotes here.

[Beach Advanced Member Find all posts View Profile Close Beach]

Be careful with the online only insurance companies. Many of them are just fronts for Suncorp. Ask your local independent smash repairer how thats working out for them.

New business v's current business is something many are just twigging to, but lots more will never figure it out. A company might give you a good "discount" to get your business but they get it all back and then some in the years that follow. Some may match a "new business" offer if you complain at renewal time, many don't care.

If you ever need to make a claim, thats when you really find out how the business works now. I had a very bad experience with Just Car. I won't be dealing with Suncorp in any way ever again. Coles will be the same. Good luck should you require them to honour your "agreement".

[Guest Close Guest]

Yep.. I've had interesting issues with mainstream insurance companies.. I've gone to Shannon's now.. Expensive but covered off road ( non gazetted tracks) and agreed value with 16 k accessories..

[r4ndll Avid PP Poster! Find all posts View Profile Close r4ndll]

It's called the "new business vs old business" rate, next year the premium will most likely go up if you stay with them.

Yup. My renewal quote in Feb was $300 more than my new customer price the previous year. Phoned around and got close to my previous me customer price. Told my current provider and they would only come down to within $50 of the competitor with less agreed value, so I swapped. They weren't willing to reward my loyalty, so I wasn't

[Steve M Addicted PP Member Find all posts View Profile Close Steve M]

I had Youi (spelling) ring me couple of years ago trying to get my business (don't know how they got my number) anyway after two lots of 40 minute phone calls they would only cover me to wading depth. Told them I drive through Sydney pot holes deeper then that, then asked me where it was at night, I said either in my garage or car port, they said which one, I said depends, mostly garage occasionally carport but very rarely, so which one, FFS how many times you going to ask me the same thing, give me the carport quote presuming it would've dearer. Got over that one. Who's the drivers ?? My wife and I. Will any body else drive the vehicle ?? Maybe my mechanic if need be or if I decide to have a drink at the club and my mate drives home (very rarely drink but I new where this was going), they need to be nominated drivers !!! WTF even in an emergency situation if they are driving and not nominated they are not covered to drive my car full stop no excuses no nothing. At that point I told them don't ringe again. Frigging useless.... Cheers Steve

[juc33_prado Advanced Member Find all posts View Profile Close juc33_prado]

I had Youi (spelling) ring me couple of years ago trying to get my business (don't know how they got my number) anyway after two lots of 40 minute phone calls they would only cover me to wading depth. Told them I drive through Sydney pot holes deeper then that, then asked me where it was at night, I said either in my garage or car port, they said which one, I said depends, mostly garage occasionally carport but very rarely, so which one, FFS how many times you going to ask me the same thing, give me the carport quote presuming it would've dearer. Got over that one. Who's the drivers ?? My wife and I. Will any body else drive the vehicle ?? Maybe my mechanic if need be or if I decide to have a drink at the club and my mate drives home (very rarely drink but I new where this was going), they need to be nominated drivers !!! WTF even in an emergency situation if they are driving and not nominated they are not covered to drive my car full stop no excuses no nothing. At that point I told them don't ringe again. Frigging useless.... Cheers Steve

Youi are good as long as you intend to lie, I live on the Sunshine Coast where they are based and all the employees tell stories of how their mates and friends all get good deals because they know what to say when booking their insurance with them to get the best discounts... their parent company is sucking all the profits back to South Africa anyway... so i'm not interested in their savings...

SAM

[juc33_prado Advanced Member Find all posts View Profile Close juc33_prado]

BTW, My 2000 model 90 Series is insured comprehensively with NRMA for $490 with agreed value of $10k covering all accessories, and covering if I am on-road, off-road or bush bashing

[Australian Member Find all posts View Profile Close Australian]

Interesting but totally subjective discussion. There are so many factors to consider, age, sex, location, driving history, how long you've been licenced, make and model, options on vehicle, policy options, use of vehicle ect.
It's a bit like how long is a piece of string!

[Beach Advanced Member Find all posts View Profile Close Beach]

... how long is a piece of string!

Twice the distance from the middle to the end!

We've covered this one...

[Ex Niss Junior Member Find all posts View Profile Close Ex Niss]

I am with RACV and pay just over $900 a year. For the new Prado and I though that was ok. Because for the Nissan I was paying Over $1200 a year and that was a 2004

[Hutch Addicted PP Member Find all posts View Profile Close Hutch]

Be careful with the online only insurance companies. Many of them are just fronts for Suncorp. Ask your local independent smash repairer how thats working out for them.

New business v's current business is something many are just twigging to, but lots more will never figure it out. A company might give you a good "discount" to get your business but they get it all back and then some in the years that follow. Some may match a "new business" offer if you complain at renewal time, many don't care.

If you ever need to make a claim, thats when you really find out how the business works now. I had a very bad experience with Just Car. I won't be dealing with Suncorp in any way ever again. Coles will be the same. Good luck should you require them to honour your "agreement".

Coles is part of Wesfarmers insurance.

Hutch- Prado 150 with some TJM Kit.