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Insurance - Under 25


Darkrym
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I am trying to get third party insurance fire and theft on my car, but no one will cover me (Under 25) for the Megane I drive.

Anyone else under 25 find a company which will insure them, I've tried like 8 different ones.

 

Thanks 

Edited by Darkrym
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Can't insure it with your parents as owners and you listed as a driver?

My daughter (24) is listed as a driver of one of our cars without issue. That is comprehensive with nrma though.

And my son (27) is a nominated driver with the 265 with Shannon's. Insurance is now $1000 cheaper for him with me as the owner than what it was with him as the owner of his older, lesser valued 250.

Edited by Safetyman
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I’m over 25 and have had 0 claims and not even a single speeding fine. I just gave up at these ridiculous insurance quotes and insured my Megane under my parents name with me being the nominated driver. Maybe when I turn 30 I’ll try again.

Edited by xevman
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On 14/05/2021 at 11:26 AM, Safetyman said:

Can't insure it with your parents as owners and you listed as a driver?

My daughter (24) is listed as a driver of one of our cars without issue. That is comprehensive with nrma though.

And my son (27) is a nominated driver with the 265 with Shannon's. Insurance is now $1000 cheaper for him with me as the owner than what it was with him as the owner of his older, lesser valued 250.

Can't have it under my parents for a couple reasons related to my Job.

Ended up finding AAMI would insure me for a decent price, for 3rd party anyway. But comprehensive was going to be 4k+.

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13 minutes ago, Darkrym said:

 

Can't have it under my parents for a couple reasons related to my Job.

Ended up finding AAMI would insure me for a decent price, for 3rd party anyway. But comprehensive was going to be 4k+.

That's a good way to go.

For MY 2012  265 I  would be ve...ry lucky to get more than $15 K for it on trade in with a dealer and with any sort of 'bingle' other than 'slight' would probably involve it being written off.

Given that comprehensive insurance on mine is probably going to cost $7/800 in October I may go to 3rd party nock as well.

Although I pay mine monthly through APIA Insurance.

AND while that costs a little more, overall it 'saves' the 'big hit' of having to pay it all at once.  

Works for me at any rate.  🙂 

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On 18/05/2021 at 5:56 AM, Garry said:

Shannons suck

yep because owned by AAMI, any AAMI affiliate I'd avoid. Don't forget for insurance policies you have a 14 day cooling off period so keep searching to see if you can get a better deal. 

 

Edited by whereislee
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Make that Suncorp. Best to avoid all Suncorp products. 

Make sure you read the PDS to make sure you are getting the policy you think you are getting.

6 months and I'm still waiting for repairs to start on my car.....

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Honestly can't even be bothered to insure with the prices they wanted to charge me. Same as you only 1/2 companies would even consider insuring, and even then was gonna be for 2.6k comprehensive (I'm 21). What's the point of paying 1/6 of the car's value every single year was my thought. 3rd party was still going to be over $1k even.... absolutely ridiculous for a car not worth much. My friend's comprehensive on her toyota yaris costs less than my 3rd party and she's the same age 😆

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The cost of third party property cover has nothing to do with the value of your vehicle since it isn't covered.  You need it to cover the cost of the other guy's car if you are at fault in an accident.  Can you really afford to pay for someone else's GT3 if you run into them?  Because they will sue you or more specifically, their insurance company will sue you.  That will ruin your finances for life or you will need to declare bankruptcy which will also ruin your finances for a very long time.

Get third party property coverage.  No matter what it costs.  You are mad if you don't.

PS. Compulsory Third Party (CTP paid with rego) is for injury to other persons and does not cover their property in case you aren't aware.

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19 hours ago, aidan059 said:

3rd party was still going to be over $1k even.... absolutely ridiculous for a car not worth much.

I got a quote online with AMII. Not sure if there online quote system is broken or something, but they only quoted $500 for 3rd (Fire and theft) party which I recon is reasonable. Might be worth a shot, so far its the only company which will insure under 25 for the megane.

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7 minutes ago, Darkrym said:

I got a quote online with AMII. Not sure if there online quote system is broken or something, but they only quoted $500 for 3rd (Fire and theft) party which I recon is reasonable. Might be worth a shot, so far its the only company which will insure under 25 for the megane.

Will take a look. Not sure why my premiums would be so high given no demerit points, no suspensions, no claims etc...

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6 hours ago, aidan059 said:

Will take a look. Not sure why my premiums would be so high given no demerit points, no suspensions, no claims etc...

It's your post code, most likely.

The insurers see you live on the North Shore and keep tabs on what insurance claims cost in that area.  I know it's a stereotype but there's some rich folks live there who drive expensive cars.

I live in Ipswich, the Bogan capital of QLD.  Not much other than crapped out Commodores to run into if you need to make a third party claim.

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41 minutes ago, Caduceus said:

It's your post code, most likely.

The insurers see you live on the North Shore

Yeah I think insurers also know that people in wealthier post codes don’t shop around for cheaper insurance so can just charge them more

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I can't comprehend the mindset of some that decide not to hold insurance, even if just third party. I honestly think that if you can't afford third party on the car you want you/have, then you can't afford that car right now. Postcode and sex are the two biggest factors you'll contend with for any sports-orientated car. 

Side-note - imagine the outrage if insurance was more expensive for women controlling for all other variables... 🤣

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I think an insurance quotes comparison thread would be useful, if one doesn't already exist.

Just shopping around for best prices at the moment.

I'm 33 years old, no claims etc...

2010 Clio 3 RS200 AGP - Enthusiast were charging me $1600 per year, 8,000kms limit, no nominated drivers, agreed value, 750 excess. Thought that was outrageous! Particularly, considering my previous 2006 Porsche Cayman S was 1500 with Enthusiast.

 

Just switched to Shannons today - $1400 per year, no km restriction, anyone above 25 can drive,  agreed value, 650 excess. A bit better...

 

Wondering if anyone else is getting a better deal elsewhere?

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54 minutes ago, apple3337 said:

Try Budget Direct. I'm paying $562 annually. No drivers over 40. Comprehensive.

Thanks for the recommendation. Called them up! Got it down to $1001 with them, but not agreed value. 

I tried Lumley though, and they quoted be $1081 with agreed value. Much better!

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2 hours ago, apple3337 said:

Try Budget Direct. I'm paying $562 annually. No drivers over 40. Comprehensive.

I'd be worried about what they would do in the event of a claim though :S

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