When to change to Third Party Insurance?

[p38arover]

I have that dilemma now.

The insurance is due on the P38A, Last year it had an insurance value of $12,090 with a premium of about double what fellow AULRO members paid in WA for the same car and value (I can't find the policy to check the actual amount).

This year, the insured value has halved to $6,100 at a premium of $566 (including max. NCB ) - insurance is close to 10% of the value of the car. :o With good driver discount, that comes back to $455

It's too good a car to lose with no insurance but I'm thinking of just going to Third Party this year. Even TP is nearly $200 - half the cost of comprehensive insurance.

[bee utey]

It might be time to ask your insurance company if they will charge a lower premium for a higher excess level. I did that on my house insurance and will have saved enough to cover the increased excess after 3 years of reduced premiums.

BTW I've never had a comprehensive insurance policy on a car, I always drive cars at least 20 years old, they give me more satisfaction.:)

[Slunnie]

3rd Party when its an expendable car. You can lose it and its not a problem.

If you need to replace it, then comprehensive.

Well, that's my thinking. I have by 2000 Disco and the DD both comprehensively insured.

[Killer]

My IIa, a couple of years ago cost less to insure comprehensively than third party extended.:eek: Naturally I went comprehensive.

Cheers, Mick.

[Lotz-A-Landies]

You could always consider a Third party, Fire and Theft policy. The policies of that type are not much more expensive than Third party alone and gives you some peace of mind for security issues out of your control.

You just have to be a careful driver! ;)
My IIa, a couple of years ago cost less to insure comprehensively than third party extended.:eek: Naturally I went comprehensive.

Cheers, Mick.
If the car is over 30 years old and you drive less than 5000km (IIRC) you can get classic vehicle comprehensive insurance from both NRMA or Shannon's. It doesn't have to be on historic rego.

[RVR110]

Years ago with my 1985 110 (due to policy discount structures) it was cheaper to get CTP + Comprehensive both from NRMA than it was to get CTP + TPPDO.

My 18 year old also found that he could get comprehensive on his $3k commodore for $50 more than TPPDO and substantially cheaper than TPPDO from the other major insurers.

It all depends on the discount structure and each insurer's actuarial studies on your suburb. But if you haven't already done so, bringing CTP into the picture may be beneficial.

[p38arover]

It might be time to ask your insurance company if they will charge a lower premium for a higher excess level.

Yes, I have that in place already - that puts the excess at $775 instead of the standard $625.


You could always consider a Third party, Fire and Theft policy. The policies of that type are not much more expensive than Third party alone and gives you some peace of mind for security issues out of your control.

I looked at that and it was nearly as dear as full comprehensive.


If the car is over 30 years old and you drive less than 5000km (IIRC) you can get classic vehicle comprehensive insurance from both NRMA or Shannon's. It doesn't have to be on historic rego.

The P38A is only 20 years old. :D

I've just dropped Shannons as my bike insurer as they were too expensive. Insure My Ride is a lot cheaper, includes riding gear replacement, and is unlimited KM. Shannons was Extreme Limited Use.


Years ago with my 1985 110 (due to policy discount structures) it was cheaper to get CTP + Comprehensive both from NRMA than it was to get CTP + TPPDO.

I found the same about 7 years ago on a 1963 Hillman Super Minx on full rego - again with NRMA.

[Lotz-A-Landies]

I had NRMA TP,F&T on my RRc up until it went to HCRS last year and it was less than $200.

Shannons have a very good multi vehicle policies.
NRMA won't insure my Mk3 International Truck on HCRS but Shannons will and you get a discount for the second vehicle and a further discount for the third and subsequent vehicle policies.

Perhaps it's the Penrith location that's costing you so much?

[Chucaro]

For the young people like me IMO APIA is a good option for a 3rd party insurance.
In case of an accident if it is the other party fault APIA cover the repairs of your car to the value of $5000.

[Roverlord off road spares]

Try Shannons, some times they are better on price other times not.

[p38arover]

AAMI want $200 for TPP, and $320 for TPP+Fire and Theft. TPP+F&T isn't a good option compared with full comprehensive for $455.

I could look at it this way - as an OAP, I don't pay for rego, just CTP so there's a saving.