Insurance?

13 · Post by 13 » Mon May 12, 2003 8:26 pm

Hey im new and l lookin to get an fto, im only 18 though.. wats insurance like on them? Anyone around the same age who could give me an idea.. or anyone who could recommend insurance companies that wont kill me.. as much..

thanks.

Cohn · Post by **Cohn** » Mon May 12, 2003 9:08 pm

hey dude...

I'm 18 to, and i've gone through the whole mess of finding the best insurance premium. I've called up EVERY SINGLE insurance company in the whole of Australia that will insure FTO's (all of them trust me).

And the absolute best qoute i got was from Famous Car insurance in WA. $1800 premium. However, the car has to be garaged, carport or driveway.
Excess for under 23 is $2000 (although you have choice of mechanic, if you know what i mean...

And the car cannot be kept on the street from 12am, till 7am in the morning. So in other words you can't get drunk and leave the car at the club/pub/bar/friendshouse (won't be covered even if it is in their garage).
There is a further $1000 excess for theft.
What you should do is put your parents as other driver's and if the car get stolen, all you have to pay is the standard excess of $1000+$1000 theft.

Trust me, that is the best price that you will find. Just cars and young and cool will definately be over $3000. And if you've had any previous accidents your looking at over $6000.

That is another good thing about Famous c/i is that with me, because i've had a $10000 damage in the time i've been driving (1 year), they were willing to insure me at $2300. And that is still acceptable...

Anyways, trust me, don't even bother looking around. This is the best bargain you will find. I've tried them all....

Good luck

13 · Post by 13 » Mon May 12, 2003 9:27 pm

hey thanks for replyin .. but is famous car insurance in sydney too? coz thats where i am, they should be linked if they are yeh? so the deal might be round the same..

and yeah i think the car is gonna be under my dads name, and me as a driver.. much safer really.

thanks for the help dude. later.

G_A_V · Post by **G_A_V** » Mon May 12, 2003 9:28 pm

i only got a no claim bonus of 20% cause im 19 and i still can only get 3500 from just cars, whats the number for this place, and do they cover cars in nsw/sydney ?

Cohn · Post by **Cohn** » Mon May 12, 2003 9:43 pm

Hey dudes, yeh they will cover sydney too...

What we should do is all 3 of us enter an insurance plan with them. If we do it as a group i'm sure they will knock off a fair amount of money...

Anyways, reply if you're up for something like that.

Cohn · Post by **Cohn** » Mon May 12, 2003 9:55 pm

Gav, you are nuts man, i wouldn't even dream of insuring an fto for $3500 a year. That is just too much. (unless you have a heap of mods which are covered).

Just get third party for $600 max, and in the event that you are in an accident, i'm sure you can talk some shifty mechanic into arranging a "claim" for you (i've seen it being done), the max you'll pay him is a grand or so...

But i suppose, that is up to you, i would not feel comfterble doing something like that, however, obviously, others might choose to live with the guilt

BUT, EVEN if you don't like messing around with a bunch of wankers, when you think about it, you are paying 3500 a year. 3500X5 years = $17500 - you've paid off the value of your car. It's rediculous. Lets say that reasonably you have 1 MAJOR accident in those 5 years, which isn't very likely if youre careful, you will probably be able to sell the wreck for about $3000. By that stage, FTO's might have depreciated even further (following the recent trend). And you might only have to spend 13000 - 15000 to get a replacement for your car. 17500-10000 (13000-3000 of car wreck) = 7500.

I personally would not pay a premium that high for a car that is already only between 15000-18000 (market price) in value, and still depreciating on a steady high decline.

G1 · Post by G1 » Mon May 12, 2003 10:22 pm

well ive paid over 4G in my first year of owning an fto =)

i got paid out over $26000 when a truck ran me off the road this jan. from just car

that was market value + some mods for a 97 model (really a 96)

im with famous car now paying $1950

goto www.famousinsurance.com.au

G_A_V · Post by **G_A_V** » Tue May 13, 2003 10:43 am

hehehe I got quoted that for insuracne, i dont pay that !
I have 3rd oarty, I was going to get comp if it was 3k or under, but againthis year they read out ridiculas figures.
So you dont have any nc bonus g1, and u are still geting a quote that cheap ?

13 · Post by 13 » Tue May 13, 2003 10:52 am

so are there any dangers in gettin 3rd party at all? what happens if u have an accident.. ?

elmo · Post by **elmo** » Tue May 13, 2003 10:59 am

You guys must all have a different type of fto to mine cause it only cost$1700 a year to do our insurance. That's comprehensive and can go/do whatever I like. I'm only 24 with a sh*t record and my girls 23 so we still have to pay 1000 excess.

Sound reasonable?
Try IPS insurance Brokers in Perth. They insured me through Elders no probs. But I know what you mean about insurance being hard to find. The first quotes I got were about $2500pa.

13 · Post by 13 » Tue May 13, 2003 11:02 am

the gpx is a lot more to insure right? thats what i heard anywayz, gr's are actually okay with most companies or something.. but yeah i want mivec! haha.. is that company for sydney too?

elmo · Post by **elmo** » Tue May 13, 2003 11:05 am

I've got a mivec GPX....
And elders are Australia wide I think....
IPS is only in Perth I think...
Try give one of em a call and find out.

MADFTO · Post by **MADFTO** » Tue May 13, 2003 12:02 pm

You must also realise that insurance companies would of insured FTOs for a lot less before they started research on them.

Therefore, with the current conditions of the insurance market, it'd be more expensive to start an insurance policy now than it was in the past, therefore, I think that if you started a policy a year or two back, you'd be paying less than if you had just joined now.

Or maybe my logic has gone out the window =)

G1 · Post by G1 » Tue May 13, 2003 2:16 pm

G_A_V wrote:hehehe I got quoted that for insuracne, i dont pay that !
I have 3rd oarty, I was going to get comp if it was 3k or under, but againthis year they read out ridiculas figures.
So you dont have any nc bonus g1, and u are still geting a quote that cheap ?

gav, im on 30% now from memory... but famous insurance know they are giving me a good deal, so even if i said i had 40% or 50% the quote they gave me would have been pretty much the same... know what i mean?

Hez · Post by **Hez** » Tue May 13, 2003 3:57 pm

hey ppl insurance is always the biggest bitch!
I'm currently 18 and owned an FTO since 17 lol 1 year! If your looking for insurance in Sydney den at least $4.5k at my age and insurance company knows all dat dad's name crap and wont accept it, well at least not for an imported car.

I have a friend whom is an insurace broker and cheapest was $5.5K at 17

Any of you 18 yr olds getting good insurance deal gimme an email please at fto_dwn_80y@hotmail.com
Thanks dudes

umm the famousinsurance website dosent work and also can some tell me if its Famous Classic Car Insurance 1300 886 029?

13 · Post by 13 » Tue May 13, 2003 4:38 pm

hey dude, your paying that much? sh*t.. makes me wanna get third party.. well a couple of people seem to have got good deals with famous, im gonna get a quote under my name and my dad is gonna get one under his so we'll se how it goes..

the site is working by the way i just tested it..

http://www.famousinsurance.com.au/

who are u insured under now in sydney? is it under your name or your parents?

MattG · Post by **MattG** » Tue May 13, 2003 5:29 pm

Most insurance companies base their quote on the youngest driver.
So if you don't put your name on the policy as the youngest driver, they may not cover you in the event of an accident if you were driving.

M@

fuhrer · Post by **fuhrer** » Tue May 13, 2003 10:05 pm

yeah they will screw u if your under 25 but yeah famous car insurance is definelty the best place to go... good luck guys

elmo · Post by **elmo** » Wed May 14, 2003 10:50 am

If you had to put the insurance in parents name then make sure you do it right. I know of a few people who have done it and you must be careful you don't get caught out or no insurance after an accident.
The vehicle must be registered in the same name as the insured. Put the youngest person on as a regular driver and tell 'em its always garaged and got an alarm (only if it has hehe

)
Your premium will be slightly higher than your dads etc but will still be cheaper than 3.5k

You will also have a higher excess if you have an accident when you are driving $1000 to $2000 for under 25.
But, you will automatically get your dad's No Claim Bonus and protectection(if he has any).
Dont get caught out. It is his car not yours, you just drive it, probably best if you say he gave it to you as a gift.
As for the cops, well they will give you a hard time if you get pulled over doing something wrong in "Dad's car" so be aware of this.
Better than 4k for insurance though.
I don't recommend doin this unless you must....
I reckon insurance companies make too much money.....
4k a year, thats a new FTO every 4 years, give it to me and I'll insure you for that much.
Unless the car is written off a normal accident will only cost about 4 grand (if it is your fault)

13 · Post by 13 » Wed May 14, 2003 11:56 am

just got a quote from nrma and just cars.. both are around th 5 grand mark under my dads name, what a joke! im yet to try out famous.

FTO AUSTRALIA

Insurance?

Insurance?

don't waste your time looking around...

insurance

thats maad

Gav and 13...

Gav

insurance..

huh????

...

insurance