Who do you insure with??

**Utemad** · 10th March 2009, 10:52 AM

I've got $12k agreed value through TCIS. I think I pay $500ish in Brisbane. 29 yo male.

**rijidij** · 10th March 2009, 09:48 PM

$18000 agreed value with LSV on my 4BD1T County. Premium $480. Country Vic.
This is the part of the small print I like...............

2. It provides cover for off road 4WD activities including beach driving and water crossings. The cover is Aust wide with no geographic restrictions.
3. Modifications and accessories are permitted providing they are declared at inspection or renewal.

**LRO** · 10th March 2009, 10:50 PM

Hi
Who is LSV

**B92 8NW** · 10th March 2009, 11:07 PM

RACV - $4,735 - 1997 Disco stock, market value, nice Melb suburb.

**Panda** · 11th March 2009, 04:44 AM

I like those clauses too - but who is LSV? I'd be interested looking into them.

Originally Posted by rijidij

$18000 agreed value with LSV on my 4BD1T County. Premium $480. Country Vic.
This is the part of the small print I like...............

2. It provides cover for off road 4WD activities including beach driving and water crossings. The cover is Aust wide with no geographic restrictions.
3. Modifications and accessories are permitted providing they are declared at inspection or renewal.

**hoadie72** · 11th March 2009, 06:26 AM

Originally Posted by LRO

Hi
Who is LSV

Originally Posted by Panda

I like those clauses too - but who is LSV? I'd be interested looking into them.

Lumley Special Vehicle :: Home

**Sprint** · 11th March 2009, 06:32 AM

i'm with shannons..... 27yo male, V8 falcon and shannons are the only people who would insure me for less than $1k, and they were also $500 or so cheaper than the 2nd cheapest insurer

**djhampson** · 11th March 2009, 08:18 AM

Allianz - $800 for my Freelander 2... Very happy with them when I was rear-ended. They sorted out everything with one phone call. Even called up about 3 weeks after I had the car fixed to see if I was happy with the smash repairers work.

NRMA are taking the OP for a ride!

tip · 11th March 2009, 10:12 AM

Originally Posted by MarknDeb

Our D2 is under AAMI for around $400 permanant rating 1, but we did find out that the area you live in has a bit part in what you pay, we were told we live in a low crime rated area

or should that be a

recently renewed with AAMI with same rating and discounts for multi policies for just over $900 (with a discount for increasing the excess to $750). Must be the semi-dodgy suburb I reside in here in Melbourne.

I obtained a quote from RACV (just for comparison) for over $1400 with 'gold' membership discount (apparently 15%). The market value they put on the car was $12,000!!!!

Does landrover come out high in the most knocked off car??? or are they involved in more crashes???.

**45tr0** · 11th March 2009, 11:04 AM

I used to work for a major QLD insurance company and can clarify on a couple of things.

Premiums are determined according to claim risk - and different companies have different ideas of what is classified as a "risk".
essentially it's a matrix that takes Driver age, gender, garaged address, vehicle type, intended use, etc; and calculates premiums based upon the combined factors.

The weighting given to any particular factor is based upon data from previous claims - for instance, a 17 year old male statistically represented a 35% higher risk of claim than a 17yo female, and the average cost per claim in this age group was 20% higher than the average.

Likewise, Vehicles with unusually high rates of claims OR expensive claims (due to $$$ parts, repairs, or % of total loss claims) attracted higher premiums. The actual market value of the vehicle accounts for less than 5% of this calculation.

If a risk was deemed too high, then no insurance could be offered, but Occasionally we would encounter what we called a "perfect storm" - a situation where each single criteria was ridiculously high, without falling into unacceptability.

my personal favourite was the 17 year old male (highest accepted risk) from Ascot (rich suburb, most expensive claims), whose parents had just bought him a brand new Mitsubishi Evo (highest risk vehicle accepted by the company, nearly 90% of claims across portfolio being total losses)
The yearly premium calculated at $18,000.

Interestingly, Some areas with higher crime rates had very low premiums... why?
Because few people in these areas have insurance to claim on, so the statistics were skewed toward those that had higher rates and costs of claims - premiums in Paddington, Brisbane spiked by 20% one year, because of only three burgularies, committed in one night! Each claim was for more than $1million! (the resulting premium spike was later "smoothed" over after complaints and a loss of business)

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