Oz Isuzu Forums
General Boards => Off Topic => Topic started by: Chunky on May 06, 2020, 03:06:56 PM
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Has anybody noticed the cost of car insurance is getting crazy. I got some quotes today for my new 2019 LST MUX that I will be getting shortly with about $8500 worth of pre-delivery mods added. Prices varied between we'll get back to you your request is not normal (Club 4x4), hello it's a 4wd that will be used as one, and from $1005 to $750 (APIA). Most were between $1005 & $996.
Some are also refusing policies if you have done an exhaust modification (my other vehicle is a Troopie & has a 3" exhaust and extractors), as they see this as a performance enhancer.
cheers
Dunc
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I'm with DGA Insurance. Haven't had to make a claim but cost of cover is reasonable.
https://dgainsurance.com.au/4wd/
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Previous Insurer was getting carried away. Ended up with Allianze.
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Just got my renewal, over $1300. About $100 more than last year. No claims made. Does not make sense, the covered value goes down but the cost of the insurance goes up. Insurance shopping time.
WTN
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Our mux and dmax are with budget direct. About $850 each, I think.
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Ray68 that DGA Insurance sounds interesting how did they match-up against Club 4x4 or didn't you get a comparison as they appear on the surface to offer similar coverage?
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Just got my renewal, over $1300. About $100 more than last year. No claims made. Does not make sense, the covered value goes down but the cost of the insurance goes up. Insurance shopping time.
WTN
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Mine went up $300 dollars on last year. Hence the change.
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My original comprehensive cover in 2016 cost $593. Since then it has reduced to $500-$550. I run a 2016 MU-X LST originally valued at $52600 with genuine accessories fitted. The "agreed" value at last renewal was $41300. I am insured with NRMA, with a stack of loyalty and no-claim bonuses.
Comprehensive insurance is less about the value of the car, and more about risk. Your postcode, your address, how you house your car, how many k's you do annually, vehicle modifications, your driving and insurance history are greater determinants of insurance premiums than make, model and perceived residual value.
My point is that everybody's annual premium will be different, because the elements of risk are different between individuals. It's pointless comparing premiums and companies here because it's a case of apples vs pears vs oranges and watermelons.
However, Chunky's original query about perceived recent sharp rises in premiums is legitimate. In my case, the answer is NO, there hasn't been any sharp rises in insurance at all.
I suggest that you look closely at how the elements of risk may have changed within your domicile and in your personal circumstance. Additionally, look at how bushfires, hail storms, floods and pestilence may have altered the insurance equation. Inflation is also a legitimate factor.
Cheers
Russ
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Ray68 that DGA Insurance sounds interesting how did they match-up against Club 4x4 or didn't you get a comparison as they appear on the surface to offer similar coverage?
Just checked my policy. Dearer than what I remembered at $947 but that includes my tray and canopy included at several thousand dollars. From memory the canopy added about $50 in premium. I didn't look at Club 4x4.
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If you want cover for off road work make sure it's in your policy. Many, if not most, car insurance policies don't cover the vehicle for damage when it's being used off road.
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I never renew my policy. Each year I start afresh. This is because most insurers offer a better deal to first time customers and then raise the price for following years.
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MU-X LSU MY19, no mods, bought price insured $47,000. RAC WA, $850. Comp insurance.
interesting three exceptions: There are no exceptions for dirt tracks, bush or beach as longs as the car is suitable for that terrain and you have taken reasonable care.
While it is overloaded, not roadworthy, not registered or not meeting relevant government transport regulations.
In a manner which involves deliberate exposure to exceptional danger or any wilful or reckless act.
In a manner contrary to its manufacturer’s recommendations.
For unlawful purposes.
Failure to take all reasonable care to protect your car, its contents and keys.
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Will finally be going with APIA total insured price is $54990 for the car + $8542 worth of accessories and mods total price $585.77 annually or $48.81 per month for fully comprehensive including windscreen replacement and hire car. Because my current MUX is insured with them I got a 20% discount. Even without the discount it is only $703 per year. I can drive the car anywhere and exclusions are common sense exclusions.
So basically 42% less than one quote I received.
Well worth the ring around and on-line quotes & glad for once to be over the age of 55 :hello2: :laughing4:.