RRS insurance - What th...?

[GregMilner]

I've just had my insurance renewal premiums for the next 12 months for all three cars...Audi TT 2007 3.2 roadster, Caprice 2007 V8 and RRS 2010 3.0 TDV6. The Audi is nearly $1600. The Caprice is $1400. The RRS? $1100!

WTF? I talk to the broker, who spins me some line about how the insurance companies and their actuaries calculated it based on repair costs. So a Caprice worth $33,000 max costs more to insure than a Rangie Sport worth maybe $90,000? What is THAT about? And the Audi is worth tops $45K.

I told him to tell insurer I think they're taking the ****, and go find a better deal. Am I out of line here?

[Nomad9]

Hi Greg,
Not sure of your vintage, I'm 50+ a little bit, RRS 2007, in Perth, clean (ish) license no claims, multi policy discount $550 excess and pay $968.00 with SGIO, does that help you at all as a comparison? Car is insured for $65k ish

[Owen]

They model it also on the history of claims for the model car, ie driver profiling via claims history , RRS drivers are clearly seen as more capable and less involved in accidents than caprice drivers....
Reality though is there are a lot of hire cars that car caprice...that would skew the data they use

[Disco4SE]

Your postcode has a lot to do with the premium as well. When we moved 2 Klm's away from our last home, our premiums dropped considerably. Not only the cars, but house etc as well. The only thing that changed was the postcode.
As well as the actual vehicle itself, insurance companies base their premiums on crime rates etc for the postcode you live in.

Cheers, Craig

[CaverD3]

If you don't like the price go elsewhere. You get a better price by just asking with most insurers.

[Rohan]

I recently moved a couple of k's down the road, same post code. My insurance went down by $80+, when I asked why, they said they used google earth and could see my new house had a garage! WTF! Big brother is watching for sure!

[GregMilner]

Thanks Nomad, I'm much the same vintage:-) Interesting thing (for the other posters re postcodes) is that all the vehicles are company cars, and registered to the same address, all with garaged, security alarmed housing. Good grief. There's no rhyme nor reason to it.
Still waiting to hear back from the broker. I think the insurance companies throw some straw in the air and see how it falls.

[PerthDisco]

Sounds like a company I'd like to work for!

[games1]

Insurance becoming very interesting. I have been with SGIO for 54 odd years however for a 2010 4 SE suddenly wanted $1276 this year up from $868 for the previous year. Got a quote from YUOI fo $892 base on age and record. Went back to SGIO who beat it by 10% ie. $812 for the year. Guess I will have to wait until next year to find out real cost. Best of luck Greg however are also starting to question effort of brokers.

[Disco4SE]

I insure my 2009 D4SE 3.0Lt through A & G Insurance. The premiuim is $827.00.
Turned 48 today..........yeah

Cheers, Craig

[GregMilner]

Very interesting indeed. I'm 57, been using the same broker for 15+ years, they've now just sold out to another mob. Will be keen to see what prices they come back with, based on those figures for the D4 2010.

[SBD4]

I insure my 2009 D4SE 3.0Lt through A & G Insurance. The premiuim is $827.00.
Turned 48 today..........yeah

Cheers, Craig

Happy birthday Craig -1 month to the day younger than me!

AAMI tried to charge me $1600+ up from ~$1100 the previous year I did a comparison and chose Allianz for ~$1000

[roamer]

I did an online quote with Allianz, same car, same address and it was cheaper than the Allianz renewal :confused:

Cheers Ken

[CaverD3]

Businesses do this, not just insurance. They gouge loyal customers whilst giving the best price to new business. Ask for a quote from others and you existing one will usually match.
Not too late to change, you will get your money back pro rata.

[Mike_S]

I think I only pay about $700ish for mine, with Shannons on an agreed value of $65k. It is garaged though.

Postcode & job / industry are what make the difference. Tell them you work in construction & the premium jumps, because the insurers immediately think it's about to get flattened by a JCB. I worked for a large civil engineering firm in the UK, spent my life on site with the RRS up to its belly in mud most days and paid an eye watering premium to boot. Moved into the office, told them at renewal I was an office based project manager & the premium dropped by 20%. It wasn't *entirely* true, but I wasn't concerned....

[vbrab]

Following from experience of games1, I too received a large increase in premium from SGIO on a D3 and after looking elsewhere (and getting a better price), went back to SGIO who then beat that quote, result being that premium quote was same as previous year.
What were they trying to do except drive away customers?
I'd like to see what the stats are on claims by landrover owners, my guess is that Disco owners might actually be a low risk group.

[101RRS]

I received my renewal notice yesterday from Alliance - $669 with an agreed value of $67500 = 60% no claim bonus.