Insurance for the mustang

[Drewbo]

maybe is cheaper to insurer under your parents name

Will definitely be cheaper to the insurer if you are breaching the terms and conditions of the policy.

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[Yeah Nah]

Finalised my insurance today with RACV. Rang around for quotes 4 weeks ago so today I locked in with a cover note as delivery will be later next week. Interesting fact RACV gave me was since my last call to them 4 weeks ago the generic market value for Mustangs has increased from $57 to $60K. They said to me this model has appreciated in value due to the premium asking prices dealerships and private sellers are asking.

 

[Kaps]

I also locked it in today with Suncorp. Surprise, surprise they offered me even cheaper than what dealer quoted me, which was even cheaper than the online quote. Glad I called them. $1024 for agreed value of $77987 with Windows and Glass cover. I did not opt for hire car because, I already have other car.
Excess $1200
Voluntary excess $400

And even with just 1200 excess (without voluntary excess) it was cheaper than the dealer quote.
Apparently a promotion is going on for existing customer at the moment with Suncorp.
Glad they are learning and appreciating the loyalty of existing customers. Very happy with the price. I locked it in straight away.

 

[goff]

What would be ironic is if the V8 costs less to insure than the EB - since it's a Turbo and there's always a premium on Turbos, especially for under 25s

No claim discounts, multiple policy discounts, they are your friends.

Mine is $580 excess $1200 for my EB........Very happy ...that said I am 65 :amen:

 

[Billca]

Mine is $580 excess $1200 for my EB........Very happy ...that said I am 65 :amen:

What was the insured value Goff? I got an online quote from NRMA for $50,000 insured value for $765 with an $850 excess including windscreen replacement. I haven't gone over the policy to see what's included yet.

 

[car]

Mine is $580 excess $1200 for my EB........Very happy ...that said I am 65 :amen:

good on ya Goff same age but dont tell anyone. $490 excess 450.

 

[lovesny2001]

I got my car insurance sorted with NRMA.

$1200 p.a.
- Windscreen option
- No Claim Bonus Protection
- $850 excess for each claim
- 2 year car replacement
- On market value

My first car and car insurance in Australia. It seems pretty good.

 

[Drewbo]

I got my car insurance sorted with NRMA.

- 2 year car replacement
- On market value

As far as the replacement vehicle goes, NRMA (from their PDS) will only replace with new if "a replacement vehicle is available in Australia which is of the same make, model, engine size, equipment level and paint type".

That won't be the case with the Mustang anytime soon, so they will just pay you market (i.e. low-ball) value if your car is written off (which will not be anywhere close as to what you will realistically need to replace your car).

For this reason, I upgraded to agreed value thereby forfeiting the car replacement inclusion.

 

[dave-]

That won't be the case with the Mustang anytime soon, so they will just pay you market (i.e. low-ball) value if your car is written off (which will not be anywhere close as to what you will realistically need to replace your car).

For this reason, I upgraded to agreed value thereby forfeiting the car replacement inclusion.

Good advice, no one ever reads that bit. Noticed it on previous policies, they typically put a time limit on the replacement which would barely cover build and shipping without the backlog.

I'm with Famous, <$1100 for $65k agreed and $750 excess, nil for windscreen replacement.

 

[disco]

I had my insurance revised with NRMA.

Agreed value $80K for $1100, 39 years, clean driving (touch wood) for a fastback GT manual.

Cheers,
Dave.

 

[Coyote 16]

I got a quote from Real Insurance

Agreed $75000 for $650 PA with window cover, based on limited kms.
Excess $500
2 years new car and choice of repairer.

Seems pretty good anyone had any experience with Real Insurance?

 

[lovesny2001]

As far as the replacement vehicle goes, NRMA (from their PDS) will only replace with new if "a replacement vehicle is available in Australia which is of the same make, model, engine size, equipment level and paint type".

That won't be the case with the Mustang anytime soon, so they will just pay you market (i.e. low-ball) value if your car is written off (which will not be anywhere close as to what you will realistically need to replace your car).

For this reason, I upgraded to agreed value thereby forfeiting the car replacement inclusion.

Thanks Drew!

I wanted to stick with NRMA, I heard very good things about them. I was just searching for the clause you mentioned in their PDS received when I signed up for this policy but there's no mention. Only state that they will asses the market value, which might be the same thing.

If I specified agreed value, the policy price went up by $300. I will try talking to them again.

 

[lovesny2001]

Car insurance sorted with NRMA, once again :cheers:

$1384 p.a.
- Windscreen option
- No Claim Bonus Protection
- $850 excess for each claim :rant:
- 2 year car replacement
- On Agreed value $50K

Still not bad

 

[05STNG]

here are my quotes & it wil be NRMA for me
53 YO Male in NSW,
Fastback Manual V8
Agreed value $65k
65% NCB clear record etc
Shannons $1281 - $600 xs & wont change
NRMA $919 - $1000 xs
GIO $1283 $1400 xs
AAMI $1520 $1375 xs
Bingle $1037 $1000 xs
Budget $1010 $1050 xs

 

[Stubai]

here are my quotes & it wil be NRMA for me
53 YO Male in NSW,
Fastback Manual V8
Agreed value $65k
65% NCB clear record etc
Shannons $1281 - $600 xs & wont change
NRMA $919 - $1000 xs
GIO $1283 $1400 xs
AAMI $1520 $1375 xs
Bingle $1037 $1000 xs
Budget $1010 $1050 xs

Interesting. I got quotes about 6 months ago on insurance as I was curious and Shannons was cheapest by an absolute mile. I averaged prices of very very close to $2000. Yesterday i went back to market and I would say most quotes were under $1400 and the cheapest for me was $1100. I am much happeir with that figure but I think the volume of sales maybe means the insurers are confident in parts supplies now or something.

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