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Is It Just Me Or Have Insurance Premiums Skyrocketed?

ras1983

By ras1983,
in New South Wales

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zebra Grand Master

zebra

Posted
Posted

Serious.jpg?

My commodore is cheap as through Shannon's

Could prob get a better deal elsewhere too, but I like shannons

Don't forget it isnt just the value of a car it's the cost of replacement parts

What's a windscreen for an r34 worth? Or a front guard or bumper? Compared to a new hsv?

So IMO if you expect your imported, hard to get parts for high risk car to be cheap to insure than you have another thing coming

But it does seem to be limited to skylines though, the soarer and supra were much cheaper than the r33.

Because when was the last time you saw a soarer on the news for crashing though a house after street racing

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oweban Grand Master

oweban

Posted
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Yep - brand new driver's window for a VT commodore would be a couple hundred from O'Briens - same window for my R33 was $1800 from Nissan. $1800!!!!!! Thank gawd I didn't have to pay for it.

And THAT is why insurance premiums are high for imports. Replacing busted with new parts costs a BOMB.

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R31Nismoid Grand Master

R31Nismoid

Posted
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nah, its more cause Australian companies are crooks and monopolise industries and the gov lets it happen

I bet the majority of them are underwritten by the same big 4-5 global co's anyway.

:yes:

Shannons & Just Cars are now under Suncorp for instance

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sydking Veteran

sydking

Posted
Posted

Suncorp own AAMI as well ;)

Yes they also own, Apia, Just Car Insurance, Shannons, InsureMyRide, Vero, Terri Scheer, Bingle, CIL, Asteron and Tyndall insurance brands in Australia, and Vero, Asteron, Guardian Trust, Tyndall, Vero Marine, Vero Liability, AA Insurance, SIS, CMV/AXIOM, Mariner, Comprehensive Travel Insurance and Autosure brands in New Zealand

Id say there doing quite well with there foot in the insurance industry :)

I know through Asteron alone our company puts in about $200k of premuims per year. Which is stuff all.

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R31Nismoid Grand Master

R31Nismoid

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The higher up the food chain in a lot of larer business you go, you'll find the same groups on many of the varying subsidiaries in various industry - some even compete against each other! but end of the day profits end up in the one place.

It's very interesting if you wanted to look into it.

Wesfarmers is another big one to dig around and find they have thier fingers in MANY pies as Terry said :)

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sydking Veteran

sydking

Posted
Posted

The higher up the food chain in a lot of larer business you go, you'll find the same groups on many of the varying subsidiaries in various industry - some even compete against each other! but end of the day profits end up in the one place.

It's very interesting if you wanted to look into it.

Wesfarmers is another big one to dig around and find they have thier fingers in MANY pies as Terry said :)

Yep, Like the old duracell vs energiser battery adds. They were the same company. If im correct its called Black marketing

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ianjb Grand Master

ianjb

Posted
Posted

The higher up the food chain in a lot of larer business you go, you'll find the same groups on many of the varying subsidiaries in various industry - some even compete against each other! but end of the day profits end up in the one place.

It's very interesting if you wanted to look into it.

Wesfarmers is another big one to dig around and find they have thier fingers in MANY pies as Terry said :)

westarmers is formerly Coles Myer right?

Are all these "Owned" by or just backed / underwritten by the big co's?

I know allianz and GIO underwrite a lot of insurance in aus

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GT-T 1998 Rising Star

GT-T 1998

Posted
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im 22 with a gt-t with 2 crashes within the past 2years, crashed the work car twice lucky not the skyline :).

with enough mods to almost tick all the boxes on just car website and its $1975 this year valve $18700 excess $1400.

first year with just car was 2600

second year 2200

this year 1975

cant complain

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R31Nismoid Grand Master

R31Nismoid

Posted
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westarmers is formerly Coles Myer right?

Are all these "Owned" by or just backed / underwritten by the big co's?

I know allianz and GIO underwrite a lot of insurance in aus

Owned in most cases :)

Kinda not really on topic anymore though lol. Underwritten is another point entirely as well haha.

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D_I_F Grand Master

D_I_F

Posted
Posted
doesnt matter what these guys pay. unless they live at same address, same driving history, same car, value, usage, claims history, multi vehicle discounts, other discounts, garaging etc etc blah blah if the price wasnt the same id ask around, however as everyone is different, everyones premium will be different. plus its a GTR. if you had a pre 80s classic with Shannons then you'd be laughing, but an import/GTR in western Sydney - bend over!!

+2

Differences in premiums due to different geographical locations is one thing, but a near-doubling of premiums in the space of a couple of years is another. I'm thinking that the reduced prices of imports means more hoons can afford them, write them off and subsequently make an insurance claim? That's probably behind the increased premiums. Anyway it just seemed odd that premiums had gone up a considerable amount since I last had a GTR.

Mate everything goes up, if you want the car it's just something you have to take into consideration.

Why don't you move to a better area?

nah, its more cause Australian companies are crooks and monopolise industries and the gov lets it happen I bet the majority of them are underwritten by the same big 4-5 global co's anyway.

Maybe you should take a look at the loss ratio on the cars.. :)

:yes: Shannons & Just Cars are now under Suncorp for instance

They are owned by Suncorp, not underwritten..

Suncorp own AAMI as well ;)
Really? Wasn't Just Car under AAMI before??

Just Cars is still underwritten by AAMI..

westarmers is formerly Coles Myer right? Are all these "Owned" by or just backed / underwritten by the big co's? I know allianz and GIO underwrite a lot of insurance in aus

GIO are owned again by suncorp

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