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car insurance premiums


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#1 tenar

Posted 26 February 2013 - 08:20 PM


I've just gotten the renewal letter for our car insurance.  We've had the car nearly a year and it's the first we've owned in years, so I'm unfamiliar with the norms for insurance like this.

Anyway, the excess for any claim has gone up from $600 to $625.  

The premium has gone up from $753 to $808.  

I guess I expected increases, but not for increases and the excess to change.  Is this a usual sort of change?

This is for a secondhand car that cost $15,000 last year.  We haven't made any claims.

#2 foxy_feline

Posted 27 February 2013 - 06:05 AM

It's common for insurers to do this - it wouldn't hurt to to a couple of online quote comparisons just to be sure you're getting a decent deal.

#3 tenar

Posted 27 February 2013 - 10:02 AM

Thanks foxy_feline.  I'm out of touch with what is common practice.

#4 LovingTheBeach

Posted 27 February 2013 - 10:57 AM

Car insurers base their premiums on a wide range of factors. I had a very insightful  conversation with an insurance employee last year, basically told me that they gather huge amounts of information on cars - their repair costs etc and the area in which you live -whether it has a high incidence of car theft or car accidents. Thus, the information is changing continually and that's why premiums can fluctuate year to year. I always do at least 5 or 6 online/over the phone quotes each year for each type (except Health) insurance that I buy.

#5 *JAC*

Posted 28 February 2013 - 06:11 PM

That sounds like a huge excess to me! I thought the norm was 300.00 - 350.00??

#6 heather124

Posted 28 February 2013 - 08:09 PM

did you have any claims during the year?  My excess went from $500 up to $625 with my renewal but I had 2 claims during the year (1 my fault and 1 someone hit me while I was parked and didn't leave details)

#7 bronhilda

Posted 28 February 2013 - 08:16 PM

My premium went up about $140 from one year to the next. I rang around and found it was competitive so thought nothing more of it.

I rang my insurer the day the payment was due to ensure they had the right credit card details, and since I called the consultant 'looked' at my premium to see if I was getting a good deal, and knocked $150 off it on the spot.

Sometimes it is worth questioning it with your insurer.

#8 solongsuckers

Posted 28 February 2013 - 08:30 PM

My excess increased to $625 this year with RACV I can't remember what my premium was last year, i think around $700. It was $774 this year.

$28,400 agreed value




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