Gday.We purchased a new car for the wife 16 yrs ago and we figured we should upgrade now for the last time so as not take a big chunk out of the super later on down the track.The agreed value was only 8K and the ins was 350$ per annum .So we picked up a used newer car for 35K and rang the Ins Co .No problem sez the lady on the phone.Now get this .....the agreed value was 38K and the yearly cost is the same as before!! Now if I could just get the van Ins down ! Cheers John
jules47 said
10:33 PM Apr 1, 2016
Hey good deal there Westy - well done!
rockylizard said
10:38 PM Apr 1, 2016
Gday...
They do make ya scratch ya melon for sure.
Perhaps it could have something to do with availability and cost of spares - a 16 year old car may have difficulty getting panels etc whereas a newer car has better parts/spares/panel availability.
That definitely has an impact on how they assess the "insure-ability" of vehicles.
cheers - John
brickies said
12:56 PM Apr 2, 2016
Maybe people with new cars take less risks
Froggos said
02:52 PM Apr 2, 2016
Hi moamajohn,
we just did the same thing. Brought a brand new tug and went to insure it and the price was great also. I asked the nice lady on the phone why the new vehicle was not much more than the old? She said the "newer cars were easier to fix", just throw away the broken parts put on new ones!
God bless, froggos
in transit said
10:23 AM Apr 3, 2016
Maybe the cheap dodgy insurance companies are getting enough market share to force the better insurance companies (oxymoron?) to get more competitive.
Wombat 280 said
12:24 PM Apr 7, 2016
Try this one on Green slip NSW which cover passengers and drivers not at fault.
A 7 seater passenger vehicle $345.00
Motor cycle $684.00 Same cover
Now consider that it doesn't cover driver/ rider at fault so the risk factor to the insurer for a rider is lower than the potential for hurting people within passenger vehicles
So why Double .?????????
Why doesn't this compulsory insurance apply to push bike riders and mobility scooters . If they run you down in a crossing say, there's No insurance cover your on your own
Then there's the optional comprehensive insurance for property damage.
Push bike rider runs into your vehicle , not uncommon for panel damage to run into the thousands but ,he she has no comprehensive vehicle insurance. Where to you recover that cost, IN COURT, more money out of your pocket
Insurance companies always want to insure you vehicle for more than it's really worth it's a bigger policy cost to you but when you claim suddenly the paid out is rapidly reduced and your vehicle written off as unrepairable . Run a policy for a year and 11 months in the vehicle is written off and the payout will be greatly reduced compared to the policy cover you thought you had.
The insurance industry is the greatest legalised scam of all time but you dare not leave home without it and they know it . The profit margins on insurance policies is down right obscene for what you get back
hako said
01:16 PM Apr 7, 2016
Friends of ours were sued by an insurance company for damages caused to a vehicle that hit their child who was crossing the road but not at a zebra crossing.
Gday.We purchased a new car for the wife 16 yrs ago and we figured we should upgrade now for the last time so as not take a big chunk out of the super later on down the track.The agreed value was only 8K and the ins was 350$ per annum .So we picked up a used newer car for 35K and rang the Ins Co .No problem sez the lady on the phone.Now get this .....the agreed value was 38K and the yearly cost is the same as before!! Now if I could just get the van Ins down ! Cheers John
Gday...
They do make ya scratch ya melon for sure.
Perhaps it could have something to do with availability and cost of spares - a 16 year old car may have difficulty getting panels etc whereas a newer car has better parts/spares/panel availability.
That definitely has an impact on how they assess the "insure-ability" of vehicles.
cheers - John
we just did the same thing. Brought a brand new tug and went to insure it and the price was great also. I asked the nice lady on the phone why the new vehicle was not much more than the old? She said the "newer cars were easier to fix", just throw away the broken parts put on new ones!
God bless, froggos
Try this one on Green slip NSW which cover passengers and drivers not at fault.
A 7 seater passenger vehicle $345.00
Motor cycle $684.00 Same cover
Now consider that it doesn't cover driver/ rider at fault so the risk factor to the insurer for a rider is lower than the potential for hurting people within passenger vehicles
So why Double .?????????
Why doesn't this compulsory insurance apply to push bike riders and mobility scooters . If they run you down in a crossing say, there's No insurance cover your on your own
Then there's the optional comprehensive insurance for property damage.
Push bike rider runs into your vehicle , not uncommon for panel damage to run into the thousands but ,he she has no comprehensive vehicle insurance. Where to you recover that cost, IN COURT, more money out of your pocket
Insurance companies always want to insure you vehicle for more than it's really worth it's a bigger policy cost to you but when you claim suddenly the paid out is rapidly reduced and your vehicle written off as unrepairable . Run a policy for a year and 11 months in the vehicle is written off and the payout will be greatly reduced compared to the policy cover you thought you had.
The insurance industry is the greatest legalised scam of all time but you dare not leave home without it and they know it . The profit margins on insurance policies is down right obscene for what you get back
Good Luck.