Insurance Premium Renewal - mine went up 45%!

[Guran]

Received my insurance renewal letter today and my premium went DOWN!!! It was $1412 with Allianz last year and the renewal is $1381. Bloody happy about that.

[BigshotMD]

AAMI is garbage. I've my previous Golf insured by AAMI, and it took a lot of yelling and me having to force my title and gave them a situation where I asked them how it would feel if I gave you, if you were my patient, to the lowest bidder to do your procedure? They finally cried uncle and gave me the only authorized repairer for Volkswagen-Audi.

Well, with BMW Insurance now. They were cheaper than AAMI and they use Allianz, which I've heard that I'll at least having a lot higher chance in getting a repair done by an authorised BMW repairer if in an event of a unfortunate accident.

[MikeVictor]

I'll be doing my annual review of insurance later this month and will post up my research. It's always a tough gig, given the inherent differences between individuals and where they live, how they drive, how often etc. without adding the complexity of different policy benefits.

[TimMc]

My renewal from Suncorp just arrived. Up to $979 from $830. I expected this and rang them to challenge the increase. They wouldn't budge. I then rang RACQ who quoted me $1084 but when I pushed them, agreed to match Suncorp's rate from last year! They even added the "free" windscreen replacement I had with Suncorp. I'm now with RACQ at $830/yr.

[Liub]

Apologies about piggy-backing this thread, but a question to piggyback ECU mod owners - what are you doing regarding your insurance policy? Are you reporting this to your insurer, and how much extra was the premium?

Cheers!

[MikeVictor]

Originally Posted by Liub

Apologies about piggy-backing this thread, but a question to piggyback ECU mod owners - what are you doing regarding your insurance policy? Are you reporting this to your insurer, and how much extra was the premium?

Cheers!

Ultimately you're daft if you don't, insurers require you to disclose anything to them which may affect their decision to provide cover and in the event of non-disclosure they may avoid a claim.

If you want to risk this for the sake of saving a few $$$ now you've got rocks in your head IMO, irrespective of how "undetectible" whatever you've done may claim to be.

My 2c (btw this isn't a person attack, it's more the culture that exists around insurance and non-disclosure that frustrates me)

/end rant

[Liub]

Originally Posted by mattyv

Ultimately you're daft if you don't, insurers require you to disclose anything to them which may affect their decision to provide cover and in the event of non-disclosure they may avoid a claim.

If you want to risk this for the sake of saving a few $$$ now you've got rocks in your head IMO, irrespective of how "undetectible" whatever you've done may claim to be.

My 2c (btw this isn't a person attack, it's more the culture that exists around insurance and non-disclosure that frustrates me)

/end rant

Yeah I completely agree mate, my question was more around how much the added premium would be, and finding an insurer that will cover these kind of mods .

<-- I am still driving my Euro at least until the end of the year.

[BMW86]

Originally Posted by andrew@southernBM

Thats fine if its about dollars cozza and fair point, but personally i rather my car go to a BMW Authorised repairer that i can oversee the repairs and not some hole in the middle of no-where that AAMI would want. The truth is that the top end repairers will not work for AAMI locally. I have seen this first hand, both my local BMW Authorised repairers will not do AAMI work. I prefer to pay a little more and get my real choice of repairer however my premium is less than yours at around a 1K. I'd say shop around like Taka says, there must be better value out there for you.

+1

I've been down this road before. I had to make a claim through Just Car Insurance and they did not offer choice of repairer. Instead they ask that you get 2 quotes, 1 from their own approved repairer and 1 quote from wherever you choose. I went to 5 of their approved workshops, well actually I drove past most of them because they looked dodgy as. No cars worth more than 5k and the workshop I ended up getting a quote from was extremely rude, he wouldn't even disclose what was actually being repaired, told me it wasn't any of my business and that he would fax the quote directly to Just Car Insurance. I was livid and also concerned that his quote would be cheaper because there was no way I was getting my car repaired there. Fortunately, the assessor who came out to examine my car and compare the 2 quotes was a bit lenient and he also let me look at both the quotes. We noticed that the dodgy repairers quote was actually cheaper and he also didn't include a few things which the other repairer did!! I even offered to pay the extra difference if it came down to that. Since then I have not renewed my insurance with Just Car Insurance and now I'm with NRMA and they offer me choice of repairer in their policy.

[Guran]

Originally Posted by Liub

Apologies about piggy-backing this thread, but a question to piggyback ECU mod owners - what are you doing regarding your insurance policy? Are you reporting this to your insurer, and how much extra was the premium?

Cheers!

Agree with the reply from mattyv.

Also, be warned that NRMA won't insure you if you mod your car. At least that was what happened a few years ago when I started modding my MINI. Absolutely no problem with AAMI with modded cars though. They just want to know what has been done so they can include it on the policy.

[BMW86]

Originally Posted by Guran

Agree with the reply from mattyv.

Also, be warned that NRMA won't insure you if you mod your car. At least that was what happened a few years ago when I started modding my MINI. Absolutely no problem with AAMI with modded cars though. They just want to know what has been done so they can include it on the policy.

Really? I spoke to NRMA about mods and they said it's fine so long as it is roadworthy and street legal.

[05C4R]

was about to renew my insurance with ryno and noticed the value of the car is now 61,000 and my premium has gone up from 1000 to 1200. looked up red book and they have it as 60,000 for a 1 year old 135i auto, and 55,000 trade in. i wish they were really that cheap i'd buy another.

nrma quoted 2000! value was 60,000 as well. gio quoted 1700, value was 60,000.

anyway i finally realised that i get 2 years new for old replacement with ryno and the lady told me the agreed value doesn't factor untill after the 2nd year.

my third year of insurance will be a worry however. red book will have 135i's valued at 40,000 by then.

i think i could still get about 68k if i sold privately.

[oldman]

Well after receiving my NRMA renewal for my 135i due in December which they had kindly increased my premium from $1200 to $1400. Thought I could do better so I ended up going with Budget Direct.

Details:
Comprehensive with agreed value of $73189 or new car replacement for 24 months if I'm the original registered owner (1 year to go)
Choice of repairer - Yes
Basic Excess $700
Driver must be 25 or over.

Total Cost - $785 (nearly half price off the NRMA quote)

Very Happy

[zenderm3]

Wow nice work!

[takahashi]

Originally Posted by oldman

Well after receiving my NRMA renewal for my 135i due in December which they had kindly increased my premium from $1200 to $1400. Thought I could do better so I ended up going with Budget Direct.

Details:
Comprehensive with agreed value of $73189 or new car replacement for 24 months if I'm the original registered owner (1 year to go)
Choice of repairer - Yes
Basic Excess $700
Driver must be 25 or over.

Total Cost - $785 (nearly half price off the NRMA quote)

Very Happy

I just quote on line.

As I had a claim in my track car 2 years ago. My premium is higher in that company.

I also put my wife's name and restrict the car to 30+ drivers. No use $1800.

Not I had no claim it came down to $1300 annual and $1600 if I paid monthly. Shannon is still cheaper $1500 paid monthly installments.

[zenderm3]

Taka - that is quite high - I pay $1100 for the ///M!

[takahashi]

Yep. It is Victoria alright. Here they are allergic to turbo cars. Queensland and Tasmania has the cheapest insurace... as I have seen on other people's quotes.

I already in a better suburb of Melbourne.

Still better than the youngsters in NSW

[oldman]

My original quote I got was through the iselect.com.au site which gave me about 5 different alternatives apart from Budget Direct.

Overall variance was about $100 and only two of them (Budget Direct was one) offered 24 months new car replacement.

Also the quote was based on my low mileage input approx 7500 per year and no finance.

[bfi2906]

Give Ryno (based in Qld I think) a try. I found them to be the best in terms of price and terms.

It's a Lloyds policy.

[jkho]

Originally Posted by oldman

Well after receiving my NRMA renewal for my 135i due in December which they had kindly increased my premium from $1200 to $1400. Thought I could do better so I ended up going with Budget Direct.

Details:
Comprehensive with agreed value of $73189 or new car replacement for 24 months if I'm the original registered owner (1 year to go)
Choice of repairer - Yes
Basic Excess $700
Driver must be 25 or over.

Total Cost - $785 (nearly half price off the NRMA quote)

Very Happy

Budget Direct = $785 premium per year ? WTF :| ??

[Zuzu]

Originally Posted by jkho

Budget Direct = $785 premium per year ? WTF :| ??

Just had Budget direct quote me.. Normal stuff..NO under 40Yr old drivers..Rating 1 NCB..Garaged.. Low Km driving..

Car:

Product:

Cover: BMW, 135I

Auto & General Gold

Gold Comprehensive (Market Value)
Price/Payment: $1953 Annual Lump Sum. Price includes 10% Online Purchase Discount. An instalment payment option/price is also available.
Basic Excess: $700

WTF...I pay $1495 with GIO now...

[jkho]

oldman: teach!

I'm with AAMI on a $1500 Excess and $999 annual Premium

[oldman]

Originally Posted by Zuzu

Just had Budget direct quote me.. Normal stuff..NO under 40Yr old drivers..Rating 1 NCB..Garaged.. Low Km driving..

Car:

Product:

Cover: BMW, 135I

Auto & General Gold

Gold Comprehensive (Market Value)
Price/Payment: $1953 Annual Lump Sum. Price includes 10% Online Purchase Discount. An instalment payment option/price is also available.
Basic Excess: $700

WTF...I pay $1495 with GIO now...

The huge difference seems to be where you live. Below are the comparisons with all the same details entered for both quotes except one I said I lived at Rhodes in Sydney and the other I said where I live on the Central Coast. That's the only change I made between the quotes. Did not use my real actual details on either of these quotes.

Boy, I'm glad I live here