135i Insurance Rates in Melbourne

[cozmicf]

Hey guys, looking to get a 2011 DCT 135i. How much are you all paying for insurance, and where can I get it the cheapest? The quotes I've found range from $1800-$3000!

[Tricki]

RACV $1800

[Superdaws]

My last one was just over $1300 (10 months ago), GIO. Agreed value.

[cozmicf]

How did you manage to get $1300? What is the excess on that, and if you don't mind me asking how old are you? I'm almost 26 and looking to have an excess of $1000, the cheapest premium I'm getting is about $1800 from progressive online, and about $2200 with RACV.

Also, are you guys getting windshield protection? I've heard that's worth it with this car since the windshield is quite expensive?

[Superdaws]

$850 excess, with windscreen. Highest avail agreed value. 36yrs, max no claim. dont know what it will come to next year for renewal.

Originally Posted by cozmicf

How did you manage to get $1300? What is the excess on that, and if you don't mind me asking how old are you? I'm almost 26 and looking to have an excess of $1000, the cheapest premium I'm getting is about $1800 from progressive online, and about $2200 with RACV.

Also, are you guys getting windshield protection? I've heard that's worth it with this car since the windshield is quite expensive?

[Caduceus]

It's unreal isn't it. So much weighting on where you live. I just insured a brand new M2, 2yr new for old, $1000 excess and free windscreen for $950 pa. RACQ and I live in Brisbane.

Yes, windscreen cover is worth it. The 135 screen will cost you about $1800 if you pay it yourself.

[cozmicf]

Yeah, I think the main issue with mine is age, if I increase the age in the quote to 36 years, it drops by $400-$600

[Caduceus]

I think 35+ is probably the sweet spot in most premium calculators. I also think the "club" insurers RACQ, NRMA, RACV etc seek out older clients by being quite competitive in that age group. I remember in my 20s RACQ were very uncompetitive for me. Not anymore (mid 40s).

[Dat Aus]

Wow. I pay $106 monthly here in Adelaide. 26 years old, no previous claims. Agreed value of $35,000. I did adjust the excess up to $2800 though. With a regular excess (< $1000), the premiums were around $130 per month.

[cozmicf]

Wow that's really good. Who is that with? That's a high excess, I don't know if I'd be willing to go that high.

I used to live in Perth, and for my Golf the insurance more than doubled (going from RAC to RACV, similar suburbs) from $400 to $840 so the state seems to make a big difference.

[Dat Aus]

That's with Justcarinsurance.

The excess is high but it makes the premium so much more affordable. I know that I can cover the excess if I ever need to so I don't really see it as an issue. In the meantime, it's saving me money by keeping the premium down.

The way I figure it, is that any damage under $3000 isn't worth claiming on insurance anyway because as soon as you make a claim, the premium will go up and it will end up costing more in increased premiums in a couple of years than if you were to just pay for minor repairs out of pocket.

[cozmicf]

That's a good point, I may consider it. Doesn't that mean though that if you hit another car you would likely pay the excess to cover the other person's car (if you were at fault) so being under the 2.8k mark might be harder?

Justcar was quoting me the same premium as racv with an excess in the same ball park as yours.

I could save a few hundred with racv though if I bump up the excess to 2k.

[Dat Aus]

Originally Posted by cozmicf

That's a good point, I may consider it. Doesn't that mean though that if you hit another car you would likely pay the excess to cover the other person's car (if you were at fault) so being under the 2.8k mark might be harder?

Justcar was quoting me the same premium as racv with an excess in the same ball park as yours.

I could save a few hundred with racv though if I bump up the excess to 2k.

Only if you go through insurance. It's ultimately your decision. If the damage to their car is less than your excess, you can still pay it out of your pocket. You are not obligated to get your insurance involved.

If they have insurance, they will make a claim and then their insurance company will recover the money from you. You have the choice of either making a claim on your policy where your insurer will pay the money to the other party's insurer, or you could just pay the money directly to their insurer and forego triggering your policy at all.

So at the end of the day, the same principle still applies. If you make a claim on your policy to fix minor damage on someone else's car, your premiums will increase and after a couple of years you'll have lost more money on your increased premiums than if you had just paid out of pocket.

[cozmicf]

Ah ok. I just meant that it would be more likely that the repair costs would exceed the excess since you'd have to pay for damage to 2 vehicles. Fair enough, i will definitely consider a higher excess

[ariapos]

Im paying $2520 p.a. with Youi, $900 Excess and no windscreen option. However i am 22 years old.

[cozmicf]

I guess one of the reasons RACV seems appealing (besides being on the cheaper side compared to the others) is that you can choose your own repairer.

I also got a quote from Cole insurance, the premium was $7800!! Woolworths insurance would downright not insure me for being under 30.

[OzJustin]

Paying $1300 per annum with NRMA, agreed value $42k, $500 excess, windscreen cover, rating 1, 30yo+, Brisbane. It was $1100 last year but is going up as the car gets older/cheaper and younger more 'crash-likely' owners get their hands on the cars...

[cozmicf]

Originally Posted by OzJustin

It was $1100 last year but is going up as the car gets older/cheaper and younger more 'crash-likely' owners get their hands on the cars...

Yeah.. sorry about that

I've warmed to Dat Aus's idea of a high excess.

I'll probably go with RACV, I've been quoted the following Premium/Excess combos (with windshield cover):
A: 2340/625
B: 2001/1000
C: 1775/1500
D: 1550/2000

I'm thinking either option B or D, leaning towards option D. My logic is that if I take option D, I can get into an accident that I am at fault for at most once every 2 years and it will work out the same as option B (almost, -$100).

[OzJustin]

Originally Posted by cozmicf

Yeah.. sorry about that

Hey not all younger drivers are crash magnets but that is the insurers' perspective. :P

[chrisw27]

Ive got an 11 135i, i found hitting 30yo to drive a noticeable drop in like for like premiums. In the order of $200-300. The max no claim bonus and a clear driving history are probably the biggest factors.

Fwiw, im with progressive at $1200 odd p.a. with $800 excess, 31yo. No mods

[cozmicf]

Originally Posted by chrisw27

Ive got an 11 135i, i found hitting 30yo to drive a noticeable drop in like for like premiums. In the order of $200-300. The max no claim bonus and a clear driving history are probably the biggest factors.

Ffwi, im with progressive at $1200 odd p.a. with $800 excess, 31yo. No mods

How is progressive? I'm just wary of them being an online only insurer, but I don't really have any experience with them to actually know what they are like.

[chrisw27]

Havent had any dealings yet re claims, but i dont see the online thing being an issue. Almost all correspondence with the big insurers is being pushed online anyway. Progressive are quite big in the US.