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Insurance

By c2105026, August 11, 2006



Hello all,

I noticed in another thread someone mentioning that gas is cheaper than insurance. I dunno who that applies too, but most Aussies pay more for gas than insurance.

So, my question is how much do you pay for car insurance? I will start - I pay A$630 a year for comprehensive insurance (includes a 60% no-claim bonus), and an extra A$440 for my 'greenslip' (compulsory 3rd party).

Bikeman982

I pay about twice that.

Definetley depends on many factors;

-where you live Urban area vs. Rural,

-Your age, moving violations, marital status

-Rating of Insurance Carrier

-and even what parts of the country..at least in USA

I've been quoted between 1,000 and 500 year, depending on what company with minimum coverage.

Geico is the biggest rip-off, along with Allstate. These ones will also drop you like a bad habit if you get into an accident with them.

Usually A or AA rated is the lowest I'd go. Companies like State Farm, American Family, Safeco. These companies won't insure SR-22 folks, good for their bottom line i guess.

Bikeman982

Insurance companies are all a rip-off. They want you to make premium payments and never make a claim.

When you make a claim they jack up your rates.

You are basically paying for your peace of mind - if you get into an accident, you can get your car fixed or get a medical payment - minus deductibles.

If you never get into an accident you might as well just be throwing the money away - it is a form of legalized gambling - meant to protect the guilty.

It is just for the rare occassion when something happens.

I have not had an accident in 30 years, yet I have made payments every month - just to be legally driving my car on the road.

I hope the people who have the money I paid are enjoying it - I could have used it to get a new car!

Here in Ontario we have "No Fault" insurance and to tell you the truth I'm not sure exactly what it means. I do know that someone can even rear end you at a red light a couple of times and YOUR insurance will go up.

As for costs, well you have to look around like I do every year. I pay about $1300 and $300 extra to include my daughter as a driver. She NEVER drives my car, but I only do that so it goes on record later as her having being insured that much longer when she gets her own insurance.

At "President's Choice" I can get insured for only $1000....but they want $800 extra for my daughter...go figure!

Bikeman982

My son's insurance added another $23 a month to the insurance bill.

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