[Dec540]

Originally Posted by M3Rossi

Was the case for AAMI and RACV......

Like i said, not all insurers :P

[E92325i]

Originally Posted by M3Rossi

Like i said, AAMI and RACV...

[KDSKDS]

Got my 320i comprehensve insurance from YOUI for $540. I take the train to the city for work and mainly use the car for weekends and evening errands. YOUI gives you credit for not parking the car for long periods (such as at work) at a different postcode from where you park the car normally (at home). Obviously your home postcode needs to be relatively safe in the first to attract the low premium.

They allow 15-20 trips to work a year (how they track this is a mystery to me) but otherwise the cover is as good as any other insurance company. I've had to get the vehicle pre-inspected though - at the KMArt Auto 2 mins down the road from me.

But any insurance company is only as good as it claims processing. So I checked around with some people who have YOUI insurance and a mate who made a claim was happy with the service and response. That was good enough for me.

[MFKN3]

The whole youi concept sounds like a joke. What happens if you make a claim, do they haul you over the coals?

[Dec540]

Originally Posted by KDSKDS

Got my 320i comprehensve insurance from YOUI for $540. I take the train to the city for work and mainly use the car for weekends and evening errands. YOUI gives you credit for not parking the car for long periods (such as at work) at a different postcode from where you park the car normally (at home). Obviously your home postcode needs to be relatively safe in the first to attract the low premium.

They allow 15-20 trips to work a year (how they track this is a mystery to me) but otherwise the cover is as good as any other insurance company. I've had to get the vehicle pre-inspected though - at the KMArt Auto 2 mins down the road from me.

But any insurance company is only as good as it claims processing. So I checked around with some people who have YOUI insurance and a mate who made a claim was happy with the service and response. That was good enough for me.

I wouldn't really want to be insured with a company that had an ELR of over 100% last financial year.

ELR is Earn Loss Ratio. Essentially means that for every $1 of premium they receive they are paying out more than that in general business costs and claims. Obviously it's hard to make money in a new company but they've been around for a few years now.

Obviously make your own mind up when choosing insurance. I think we have all established that i'm about giving facts and letting you make your own mind up rather than my opinion of the company.

[ricko177]

For me as an old codger (50+) with good no claim record and living in Canberra, I think I got a pretty good deal on my 2005 330i E90 at around $800 from Allianz. NRMA was about $200 more.

[Stuart@BMRAutowerkes]

I'm surprised my 135i is cheaper to insure than my 325i...
I might up the agreed value a bit though, might see it come in at slightly above the E92s premium...

Aami quoted ~$4k for the 135i, NRMA is sub 2k

[parnassus]

Wow, I'm amazed at how little most of you are paying. I'm always quoted ~3-4k. What do you reckon, any chance I could pay <2k?

Details:
Vehicle: 2009 z4 35i
Age: 29
Accidents: one in the last 5 years (collision, no other vehicle involved)
Licence: Full license for 11 years
Area: Sydney

[parnassus]

*laughs* yeah, car was written off after jumping a 5m canal. Amusingly, I went to hospital thinking I was dying (was coughing out blood), only to find out the complete opposite. All I'd done was bitten my lip!

I was with BMW Insurance (Allianz) with a $3.8k/2k premium/excess, but switched to NRMA for an $800 saving...

[kaitan]

Originally Posted by playwithonehand

How the hell did u get $560 per years?? That is crazy, consider most of my quote were $1500. Which company are you with? Is it comprehensive??

I am 25, live in East Lindfield (North Shore, consider a very safe suburb)
Last time i was fined for speeding was back in 2008.
No finance on the vehicle, i should get a better price right?

Dec540
Thanks, you info is very helpful.
I think the difference is my agreed value for total lost is 45k.

I'm paying about $770 with AAmi plus windscreen cover. I'm younger than you PWOH :P

[MFKN3]

Originally Posted by parnassus

Wow, I'm amazed at how little most of you are paying. I'm always quoted ~3-4k. What do you reckon, any chance I could pay <2k?

Details:
Vehicle: 2009 z4 35i
Age: 29
Accidents: one in the last 5 years (collision, no other vehicle involved)
Licence: Full license for 11 years
Area: Sydney

Farrrrk!!

I'm nearly 29 and my M3 is about $900 with $500 excess and glass option thru nrma. Maybe it's your suburb or NCB rating from accident

[Ansonlai]

Originally Posted by Dec540

Having now worked in the insurance game for a couple of years there are few really important things to know:

Insurance companies spend millions each year rating what they call 'risks'. Essentially they start out with a base premium then everything factors that premium. Everything from the obvious stuff like age, car and driving history down to the not so obvious stuff like your address (some companies rate in as little as 20 house blocks so number 1 and 21 can have a different factor :. a different price), factory options and finance on the vehicle.

Because there are so many things which affect the price it is essential to get as many quotes as possible. Each company has a target risk or target group which they want to insure. Obviously if your driving a modified vehicle with multiple license suspensions and multiple claims it goes without saying your of higher risk than someone who is 40 driving a getz with a perfect history.

Let's face it, every company wants to make a profit so if your in the former group there are less companies willing to 'take you on risk' or insure you. They know this as you can see by the prices they offer.

The trick is finding the company which wants you the most. I'm 20 and I'm driving a 325ci it has a few basic mods but nothing engine wise. Lucky for me i've had no claims and live in a good area so for an agreed value of 28k I pay just under $700 p.a.

On the other hand, when i use to work in sales I did a quote for a 30yr old women driving a Tarago and the Premium was 3k... I almost gave her a heart attack. Having said that when i spoke to her 2 days later the best quote she could get was $2700. It was a suburb close to Redfern

Oh and always read your PDS both before you buy your policy and more importantly, just before you ring to claim. I won't go into this too much as the question was simply relating to price

Hope that helps

Hi Dec540,
Since you worked in the insurance company, just wonder if my car is financed, will I have to pay extra for my car insurance? May I ask the reason why?
I don't see a point why a financed car has to pay extra.....
Even if the company worries if the car is total loss, the agreed value is irrelevant as it is the owner responsibility to pay out the loan. Furthermore, generally, the higher agreed value, the higher premium, nothing with whether or not it is financed?

And I would like to know, why my friend who has been involved in twice total loss claim (at fault), he is still paying a relatively low premium? (Considering the total loss claimed that he had made within 5 years)

[Ben0426]

Gee...I'm pay $230 a month for my 325 and $196 a month for the 2010 ML350 with NRMA. Age 31, full license for 10years, only one accident record.

[cartaa100]

$1700 for my 335i but $2000 excess and im only 20 :P

[kaitan]

Mine is $1400 for 25 YO with $2100 excess! with AAMi

[blagz]

$1400 with RACV and $1000 access, I am 26

[Mayuri Krab]

2007 E90 335i
~$750 with $1950 excess (I added $1500)
26 year old male
no at fault claims in the past (2 claims with other party at fault)
RAC

Not too bad I guess considering when I 1st bought my R33 on my Ps, full comp with Just Car (one of the few companys who will insure a Jap Import) was about $2k with an excess of $1.85k (it has since dropped to ~$550 with $1550 excess).

[playwithonehand]

shiit..... didn't thought of high excess can save abit.

27, Allianz - $1500, $800 excess...gotta new soon.

[Ninjaoz]

over $2000 excess? wtf..

[Kabnine]

I usually go through Shannons. They don't mind modifications, the price has always been reasonable and on the only claim I have made was excellent. The assessor actually came to my work to assess the vehicle. Not to mention they are still insuring me for a reasonable price after the whole good behaviour licence. This is where I accumulated too many points through speeding and chose to go on a 2pt licence for 12 months as opposed to being disqualified for 4 months.

[aussie_335]

Originally Posted by GT1977

I don't know what Sydney premiums are like compared to Adeliade where I live, but I pay $1,400 for a 335i. Mine is through BMW Finance as there arent' that many companies that will insure my car where I live (oddly).

I would think that a 320d would be a bit cheaper than a 335i. I think I get slugged due to having two turbos.

I also live in Adelaide and have a 2010 e92 335i. I am insured with SGIC (part of the NRMA group) and I pay $935 for full comprehensive with a $400 excess