NRMA Reasonable Insurance Quote!

[dvx]

Well today with an SV6 hot on my mind, i decided i would see what they would quote me to insure one. Nervous as all hell, knowing weather i own one or not hanging in the balance i put in the details.

04 sv6, insured fully comp for 35000 including mods (it will stay un-modded until warranty is up) with 30yrs driving experience on a 50yr old owner, and 1 year experience for a green p plater (myself).

Annual Amount $2,023.41 :D :D :D

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Vehicle 2004 Holden Commodore Sv6 Sedan 3.6 Litres

Agreed Value including modifications: $35,000

Optional Cover Based on the information you have provided, your No Claim Discount would be 65%

Hire car - No
No Claim Discount Protection - No

I'm thinking a 2k quote is quite reasonable, only around 250-300 more than i am paying now for my sup 10 sec to 100 ecotec vx!
I was quoted 2800 for an SV8 and just over 3k for an astra turbo. Insurance for a n/a astra SRi is only 100 bucks extra.
A 6.5 to 100 vs 9.8 to 100 commodore, with better brakes and insurance, with full leather and airbags all for 300ish difference.

and with that said, im cheering :D

[brock05]

why only insure for 35000, isn't that below replacement cost?

[dpac]

i wouldn't let insurance deter u from having the car u want.....

i am 18 and a month ago i bought a 5.7L HSV VR Senator, i am insured with NRMA.... u just have to look around and research what u can do to get the best quote (legally)..... i am in Syndey and i pay less than the quote u got... i think i pay 2k on the dot almost

[LSX-438]

true there can be huge inconsistencies with premiums at times, there is real opportunity to find "inefficiencies" in the insurance market by shopping around.

[Devil CV8]

i wouldn't let insurance deter u from having the car u want.....

i am 18 and a month ago i bought a 5.7L HSV VR Senator, i am insured with NRMA.... u just have to look around and research what u can do to get the best quote (legally)..... i am in Syndey and i pay less than the quote u got... i think i pay 2k on the dot almostThe only way you could get that car insured cheaper than $2023 is to have the car insured in a parents name with you as a driver.. And the only way that can legally be done is if your parent has a financial interest in the vehicle, even by being a guarantor on a loan...

If not, then maybe you can enlighten the rest of us...

[Ryzz]

Speak to Dane from Shannons (Do a search and you'll find the thread), im 23 and just purchased a VS GTS and im only paying $1500 :eek:

I rang him after NRMA wanted between $3-4k!!!! and ended up paying $2100 if i want to have it modified, or $1500 if its not.

All i can say is Shannons Rocks!!!! :D

[dvx]

brock: i chose that figure.

dpac: i dont see your point? Maybe we get similar figures becuase your car is insured for a lesser value than mine, while still bieng a v8? The senator would be getting on a bit?!

forrestd: shopping around is yet to happen, i was just using NRMA as a worst case scenario guide :)

Devil: It is insured as parent as owner/driver and the car is to be for "private use" with "no finance". So i dont see how it doesnt work? I put the same details in with my current car and it comes up as around 1700 and that is what we pay.

Ryzz: i've heard that shannons is really expensive, and that they don't insure cars that aren't in lock up garages, one of which we do not have. I'll try em, but ive heard they're unreasonablly expensive
edit: does tints and some newish rims consitute modifications? Maybe dane is the best person to ask but maybe youw ould know?

BTW im 18 with a cleanish driving record.

[Roger]

The only way you could get that car insured cheaper than $2023 is to have the car insured in a parents name with you as a driver.. And the only way that can legally be done is if your parent has a financial interest in the vehicle, even by being a guarantor on a loan...
If not, then maybe you can enlighten the rest of us...

I don't think dpac was trying to skite or be a smartbum. What you have said there is probably exactly the scenario - it's still very legal if he is noted as a regular driver & is a very common scenario.

And as a couple have said, shopping around does wonders. Maybe he is the owner & is the named insured on the policy. Sometimes you can (legitimately) get those sorts of things through. General insurers by their nature are quite dumb in some respects.

Anyway, I'm sure dpac will respond.

[VZSS_Freak]

Hi There,

I own a VX series 2 Exec, no mods, i am 19 and the registered owner and insurance is on 800 annualy, over 2k seems to high, i am insured with the RACV

[LSX-438]

good luck with it, i remember when i was your age trying to insure a group 3 brock...

[Red CV8 R]

Shannons wouldnt insure me, my car was not modified enough apparently!

[HSVCYA]

I think were you live and store your car has a lot to do with the amount of insurance you pay per annum. I'm 22, have an atrotious driving record, own a VX Clubsport and pay $1200 a year through NRMA. I also live in Mackay, Nth Qld were the crime rate is not as bad as more southern cities.

[Devil CV8]

Devil: It is insured as parent as owner/driver and the car is to be for "private use" with "no finance". So i dont see how it doesnt work? I put the same details in with my current car and it comes up as around 1700 and that is what we pay.

I know it works, but to be legal the parent needs to have a financial interest. If they don't have a financial interest in the car then it's leaving an opening for the insurance company to cancel the policy and deny any claim


I don't think dpac was trying to skite or be a smartbum. What you have said there is probably exactly the scenario - it's still very legal if he is noted as a regular driver & is a very common scenario. I realise that, but as I say above, there are guidelines to be met for this way of insuring a car to be ok.

A good example, I can insure a Astra CDX and have my daughter as a driver for $1400 approx, but for her to insure it in her name (soon to be on P's) it will cost just on $2000. As I don't have any financial interest in the car the $600 extra is cheap insurance to ensure no dramas come any possible claim.

[Azza]

I rang Shannons and was told no on the grounds that my car was not parked in "secured parking" while at work, even though it was over 50 metres off the street and parked in a factory undercover never out of sight at anytime by either myself of other staff I work with. Still $1446 from NRMA not to bad I guess but, could be better judging what others have said they are paying here on LS1.

[dpac]

The only way you could get that car insured cheaper than $2023 is to have the car insured in a parents name with you as a driver.. And the only way that can legally be done is if your parent has a financial interest in the vehicle, even by being a guarantor on a loan...

If not, then maybe you can enlighten the rest of us...

your correct (i am added onto the policy) but my parents didn't give me a cent for the car technically (i worked for my dad) so they don't need to own a part of it, for me to be added onto the policy

but there r ways of droping the premium down.....the first premium i got was like $3800, then u get like 20% off when u have quicktrak.... plus my parents have all the BS... home insurance, blah blah blah just try ur hardest to get it down......... i am also insured to drive all of my dads trucks through NRMA so this my help too

and u say u have a "cleanish" driving record... if you've been fined then i would imagine the premium would jump dramatically

if u wanted to talk to Dane from Shannons insurance.... basically what he told me is that if u don't have any background racing (e.g. club racing) then he can't really do anything for u..... but he is a nice bloke and i would recommend a talk to him

[Roger]

I know it works, but to be legal the parent needs to have a financial interest. If they don't have a financial interest in the car then it's leaving an opening for the insurance company to cancel the policy and deny any claim

Devil
As long as the insured & the registered owner of the vehicle are the same (in this case we assume the parents) & the younger person driving it is noted correctly as a regular driver, the insured is automatically deemed to have AN interest in the vehicle as they are the registered owner. Personal financial arrangements between the 'owner' and the regular driver are irrelevant. An insurer cannot deny a claim on the grounds of the insured not having a financial interest in the vehicle.
My first car was bought by, registered & insured by my dad in his name, I paid him back over a 2 year period, but it was still in his name - he still had an interest in the car, no not a financial interest, but that is not illegal nor a policy exclusion. It was sold, my father deposited the cheque into my account & I bought my next car in my name & started my insurance record, just like you are doing with your daughter now.
R

[Devil CV8]

Devil
As long as the insured & the registered owner of the vehicle are the same (in this case we assume the parents) & the younger person driving it is noted correctly as a regular driver, the insured is automatically deemed to have AN interest in the vehicle as they are the registered owner.
I understand all that, maybe I should have made myself clearer. I'm talking about car being registered in "the kids name" but the insurance being in the parents with "the kid" listed as a driver. This can be done as long as long as the parent has a financial interest in the car.
Having everything in the parents name and just listing "the kid" on the insurance has no dramas at all...

[Roger]

I understand all that, maybe I should have made myself clearer. I'm talking about car being registered in "the kids name" but the insurance being in the parents with "the kid" listed as a driver. This can be done as long as long as the parent has a financial interest in the car.
Having everything in the parents name and just listing "the kid" on the insurance has no dramas at all...

Oh, okay - cool !

:thumbsup:

[MyCat-cc]

I was quoted 2800 for an SV8 and just over 3k for an astra turbo. Insurance for

$2.8K for an SV8 !?
Cripes do you live in bagdad or something. AAMI with 70% no cliam protection and hire car $1K :D

My 1.8L 2002 MR Lancer was $1200 (go figure) :confused:

[dvx]

no, but im 18 and live in paddington. We pay 1700 comprehensive for my ecotec excutive. AAMI won't even insure ecotec anything's for drivers under 21. So i think 2800 is pretty danm reasonable for someone with only '1' year driving experience with V8 power under their right foot. I really dont think its too unreasonable myself. 2000 is great for the sv6 and late 14/ early 15 sec car that does 100 in (motor claimed) 6.5 seconds.

Still some shopping around to come.

[ls1ozstyle]

I rang Shannons and was told no on the grounds that my car was not parked in "secured parking" while at work, even though it was over 50 metres off the street and parked in a factory undercover never out of sight at anytime by either myself of other staff I work with. Still $1446 from NRMA not to bad I guess but, could be better judging what others have said they are paying here on LS1.


Same, Shannons wouldn't insure my wife's wrx because it was a daily driver and driven to work :mad:

Should be called Shannons Show Car Insurance to save alot of people a phone call. :flip3:

[dvx]

shannons just quoted me $3328 for the same SV6, same postcode etc. What a rip off :lol: They have new commercials on tv clearly showing young people getting their hot cars insured. I hope they all have great jobs and ritch parents

[Ralphy]

I dont know what you guys are on about with the Ecotec ? i have a 2000 Berlina
insured with AAMI, i am 20 with one at fault accedent to my name and i pay $1016 PA i have also done the AAMI driving corse :bash: (i am under 25 there for i am a bad driver), which is 10% off again, i can also add larger wheels with out affecting the price of my policy, i also did on online quote for the SV6 and came back with $ 1363 the take off 10% if you do the driving corse, not that bad at all. the one catch is the $1650 excess cause i am under 21 and male (+$1200)
i hope this helps

Regards Ralphy

[Bronx19]

HSV 2004 Clubsport R8 - $1200 NRMA

[rocks-crewman]

Sure $2K sounds a lot for a @$35K new car sounds a lot (and it is) - but to put it in perspective my first proper car (in 1986) was a 1975 HJ Premier 4.2. It cost $3.5K to buy and $700 p.a to insure. So if you take the ratio of price of purchase to price on insurance the situation today is a lot different and perhaps dare I say it a lot fairer. If there is any consolation to getting on in years is that insurance premiums drop a bit as long as you have been well behaved (or not caught).

[MTC]

well seems really bloody expensive to me ive just insured my new 2004 VYII HSV CLUBSPORT with RACV $320 per year 450 excess im 30 im melb south east bargain!!!!! :lol: if i had a quote anywhere near two grand i just wouldnt buy the car till insure got cheaper p.s i get a few discounts from racv house & contents discount years of insurance with them (10) get an extra discount for that car is private use no finance :bash:

[Bronx19]

Comprehensive for $320 a year?

[MTC]

yep $320 full comprehensive thats on the clubby & i pay $360 for my 2003 GUIII NISSAN PATROL TURBO DIESEL as i said i get a few discounts im there premier rating 1 & im in a low risk suburb also yes thats annually