Insurance for the mustang

[Erez]

- RACV
- Agreed Value $75K
- Windshield cover
- $1000 excess

Premium: $1360

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[lovesny2001]

I barely trust Aust Post with my mail. Takes them a week to get a package across town and that's supposed to be their core business.

I agree, and that's what I am worried about. I am hoping I don't have to deal with them a lot for car insurance and may be switch a year later when deals are better. Right now, I am only getting decent rates from Budget, AU Post and RACV.

 

[V8 coyote]

So what's the verdict for those of us with a 2 as the first digit in our age?

 

[w0rt3x]

So what's the verdict for those of us with a 2 as the first digit in our age?

We're screwed mate

Best deal (overall - decent excess, replacement, agreed value and premium) for the total package I could get was with RYNO ~$1700.

I'll go with it for this year and hopefully the premium will drop a bit next year as it's not going to be a brand spanker anymore.

 

[Frostee]

AAMI

- Premium $1015
- Windscreen cover and rental car
- Excess $1225
- Insured value $77987

 

[Mustang GT007]

Try Budget or Real Insurance.
Both under $1000 ($900 excess) including windscreen cover.

Obviously your insurance history and postcode will make the difference.

 

[noboot]

Do you guys shopping around for quotes do the online thing or do you call them direct and speak to someone?

 

[w0rt3x]

I think the postcode is a major factor for the premium...

AAMI - $1225 excess, $59k agreed value, $2808 premium lol

Edit:

Budget won't insure if your age starts with a '2'

 

[05STNG]

I agree, postcodes have a big impact on greenslips, house insurance, car insurance etc. I can kind of understand why regional insurances are less due to lees accidents as a ratio to city but I have never had an accident in my postcode so why should it be taken into consideration

 

[Frostee]

I agree, postcodes have a big impact on greenslips, house insurance, car insurance etc. I can kind of understand why regional insurances are less due to lees accidents as a ratio to city but I have never had an accident in my postcode so why should it be taken into consideration

Your history in part influences the premium, but where you live is a significant component. It used to be just postcode, but the algorithms they use now take full advantage of geo-mapping. Two people in the same street could have very different premiums. If one is near a corner, they will pay a higher premium. It's all about the assessment of risk by the insurer.

When you get ridiculously high premiums it's basically saying they don't really want your business because of their assessment of risk. What factors a particular insurer will apply weighting to will vary from one to another.

You truly have to shop around. When comparing Policies you also need to go into the detail to understand the specifics of the Policy. Cheaper isn't always better, and always you need to research people's experience as to how simple or painful the claims and settlement process is.

 

[05STNG]

Your history in part influences the premium, but where you live is a significant component. It used to be just postcode, but the algorithms they use now take full advantage of geo-mapping. Two people in the same street could have very different premiums. If one is near a corner, they will pay a higher premium. It's all about the assessment of risk by the insurer.

When you get ridiculously high premiums it's basically saying they don't really want your business because of their assessment of risk. What factors a particular insurer will apply weighting to will vary from one to another.

You truly have to shop around. When comparing Policies you also need to go into the detail to understand the specifics of the Policy. Cheaper isn't always better, and always you need to research people's experience as to how simple or painful the claims and settlement process is.

I agree with what you are saying but how many people have had an accident outside of their house

 

[w0rt3x]

Agreed with 05STNG - most of the claims are on the road whilst driving and not 'car stolen from garage' It doesn't make sense...

 

[Frostee]

Agreed with 05STNG - most of the claims are on the road whilst driving and not 'car stolen from garage' It doesn't make sense...

Insurance and Bookmakers have a lot in common. They manage a risk register and price accordingly. It's a constantly moving target, and they constantly adjust their "books" to balance their risk in their favor.

Your driving history is just a component of the overall algorithm's that they use to price their risk.

Insurers like YOUI are positioning their insurance products to give benefits from disclosure of where you par, how often you drive etc.

I agree it doesn't make sense, because it won't make sense unless we can understand the way an insurer is assessing their risk and calculating the premiums offered.

 

[Erez]

AAMI

- Premium $1015
- Windscreen cover and rental car
- Excess $1225
- Insured value $77987

That's pretty good mate. When I called AAMI the premium was $1225 but they would not go above $58,000 as the agreed value.

 

[Mustang GT007]

That's pretty good mate. When I called AAMI the premium was $1225 but they would not go above $58,000 as the agreed value.

Keep in mind first 12 months is full replacement value.
Some offer 24 months full replacement value.

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