Insurance Quotes FIY

[gavs]

Just join ClubVDub... $40 and you will be an enthusiast.

Yeah, but then I will still end up paying more than most of the others anyway! So I will have payed $40 extra to be insured with one of the most expensive insurers, no thanks. Shannons can suck me jatz.

[totallysour]

$850 with AAMI online in Melbourne (safe eastern suburb though). I'm 23 though... but I can do a one day driving safety course and get 10% off (some under 25's promotion they run).

Have you had previous insurance? Seems like a very good price for an under 25 with a GTI. Big excess?

[crumbs]

No previous insurance in my name, just an extension on my parents' insurance for their car (for the occasional time I drove it).

Excess is $550, plus a 'males under 25' excess of $450. So that's why the insurance itself is (relatively) cheaper.

[totallysour]

Seems like we would be in an identical situation (I'm 22, was on my parents insurance policy and live in the safe eastern suburbs!). Good to know I've got something to compare to. Were your parents previously with AAMI?

[crumbs]

Yep, parents were with AAMI.

Just make sure you get a quote online from them, if you head down that path. When I rang up for a quote, they quoted ~$1100! Nearly fell on the floor... not sure what explains the variance.

[pologti18t]

I've been insured with shannons for years with my 2005 Polo GTI. Easily cheaper (for me) than any of the other insurers.

[RoknRob]

Very true mate, very true. I just dug the quote out which i printed off, normal comprehensive wa $678 with an $800 excess. Comprehensive plus was $905. Still far cheaper than quotes i got for a hsv vxr and a mazda 3 mps.

Thanks, Coolio. Just over $100 more for lots of extras - I may upgrade...

[LRich]

I've just called AAMI (who I've been with for 5 years) for a quote for my Polo and they're saying $1327. I couldn't get a quote online because of all my extras (leather, audio, sports). The cheapest I could find was $1200 with GIO. Sucks being under 25 with one claim to my name! At least I save $50 excess for being female..?

Does anyone know if you can get a reduced premium with a higher excess?

[GTI JOE]

I'm sure some insurers will reduce the premium with a higher excess. There are many of us that can remember being under 25, I know it sucks and it will continue to suck for the next generation and beyond. Believe me, IT WILL get cheaper as you get older The best I got quoted was $650, and yes, I am not about to uncover my age

[gavs]

Judging by 2 daughters was it buying cars.... I'd say close to retirement age

Laura, email aami. That's what I did after trying an online quote and I got $751 for the gti!

[Beepo]

Comprehensive Insurance?

Well i'm considering getting a Polo Gti in the new few months however I have never had a brand new car or comprenehsinve insurance before.

What exactly happens with a claim if the car is written off? If it costs me say $31K to get the Gti then i'll be insuring it for that much each year even though it will be worth cosiderably less each year since if something happened to it and it was written off then i'd want to get a brand new one that would still cost that much if not more.

So if in 2 years the car is written off since its insured for $31K and not market value do they just give me a cheque for $31K or do I actually have to arrange to purchase a new car first and whatever the cost is going to be they'll pay for it up to $31K so if the car I chose to get only cost $29K they'd pay that but I wouldn't get the leftover $2K?

Obviously if the cars repairable you'll only get what it costs to repair it not the total amount its covered for but I can't for the life of me googling find out if its written off if you actually get the amount your policy is covered for (so that if I then decided geez i'm scared of driving now so I wont get another car and spent the $31K or whatever else I wanted) or if you need to actually go and purchase another car and they just cover whatever the new car cost to purchase

[lowlee]

Generally if you have an agreed value policy the insurer will try to arrange for a replacement of the vehicle (including onroads) in the first 12-24 months (depends on insurer). Each year the insurer will adjust the agreed value down based on the movement of the market value of the vehicle. After the period of new for old the insurer will generally cash settle a write off.

Hope that helps

*The above information is not financial advice. I am not a financial advisor but I have worked for an insurance company in the past in claims*

[Beepo]

Each year the insurer will adjust the agreed value down based on the movement of the market value of the vehicle.

If its adjusted each year based on the market value of the vehicle then isn't that insuring it for market value rather then an agreed amount?

[GTI JOE]

Both figures, market and agreed, are adjusted down every year, mainly due to depreciation. You may be able to negotiate to maintain the agreed value but I am not entirely sure.

[bnescooter]

Just don't bother ringing buuujay direct unless you're over 35 ... I'm 34 and they wouldn't insure me even with a rating 1