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Reply With QuoteDepends if there is any age restrictions on your dad's insurance - for example our VZ is only 25 yo and over - so the kids are not covered if they drive it.
go in Luxury
Insurance question
Just a dumb question to be thinking about on Christmas Day BUT
If dad owns a car thats rego'd in his name, insurance 3rd party in his name, and has the CTP Greenslip (a NSW thing for out of staters) in his name, but I have an accident in it, what the heck happens there?
I assume I would be up for an excess coz I'm not listed as a driver?? Whats the difference too if I cause the accident, or if someone else causes the accident??
Just curious coz he's looking at buying an older car for some weekend cruising (mid life crisis?) and I wouldnt mind getting behind the wheel either, but the CTP price alone is worth more then what he'd be paying for the car, let alone the insurance and rego price ... and if it's ever in an accident it'd be cheaper to just scrap it for scrap metal.
Im just confused what happens if he pays for all this insurance rubbish, then I have an accident
Almost not here!
Depends if there is any age restrictions on your dad's insurance - for example our VZ is only 25 yo and over - so the kids are not covered if they drive it.
Donating Member
u will be covered with third party body insurance
Not to be trusted
Simple answer CTP you will be covered and with Third party property you will prob need to be listed as a driver, if your not the excess will go up alot though.Originally Posted by Torquative
Just a dumb question to be thinking about on Christmas Day BUT
If dad owns a car thats rego'd in his name, insurance 3rd party in his name, and has the CTP Greenslip (a NSW thing for out of staters) in his name, but I have an accident in it, what the heck happens there?
I assume I would be up for an excess coz I'm not listed as a driver?? Whats the difference too if I cause the accident, or if someone else causes the accident??
Just curious coz he's looking at buying an older car for some weekend cruising (mid life crisis?) and I wouldnt mind getting behind the wheel either, but the CTP price alone is worth more then what he'd be paying for the car, let alone the insurance and rego price ... and if it's ever in an accident it'd be cheaper to just scrap it for scrap metal.
Im just confused what happens if he pays for all this insurance rubbish, then I have an accident
Makes sense when you think about it cause If you buy a car and you transfer it to your name you dont have to pay any additional amount for the CTP until you go to renew so you will be covered under someone else's insurance for CTP.
A bogan with style
simple answer is to get full comprehensive insurance and list you as a nominated driver..
dont understand why people dont have full comp insurance...
The Only 6sp VZ Wagon
so you would pay 2000 a year to insure a $500 VN? (thats under 25 for instance)
its much more financially viable to just have $200 third party and then have a little money saved away for you to buy a car if you stack it,
when i had my vs last year, it only had third party, but the vz obviously has comprehensive
EASTERN CREEK JCNSW 2009
go in Luxury
thats pretty much the gist of it.
The VZ costs me $1600 per year to register and comprehensively insure in my name, full comprehensive and so on.
But the other car we're looking at we're only paying $500 for. Rego alone is worth $400, CTP in dads name is worth about $400 and insurance is anywhere from $300 to $800.
I cant see the sense in paying $1600 for the VZ then another $1000 odd on a car thats only worth half that each year, especially if we only drive it every other Saturday. Plus I'm also part paying for the insurance on the Adventra as I use it occasionally and Im listed on the comprehensive insurance so its worth a motza, so I'm going through over $2000 per year just to drive the damn things.
As I said if it were in an accident it'd be an instant write off, heck, if someone scratched the paintwork and it needed a touch up with a $20 touch up pen, it'd be an instant write off.
thing is its unregistered and un-insured thus why its coming home on a trailer, so I will be paying for everything to start from day 1, but yeh I can see what your getting at, when you buy a 2nd hand car is covered.Makes sense when you think about it cause If you buy a car and you transfer it to your name you dont have to pay any additional amount for the CTP until you go to renew so you will be covered under someone else's insurance for CTP.
I'm curious coz on all the quote thingos they ask the age of the youngest driver, then it goes up when I put my birthday in, just like insurance.
The Only 6sp VZ Wagon
im positive if you get third party you can still list drivers, cause thats how we did it with my vs, so it covers you or or father etc if you hit someone
EASTERN CREEK JCNSW 2009
Get yourself listed as a limited driver, to let's say 5 or 10 times a year. My mate has his car insured and registered in his mum's name and the insurance is so much cheaper because he's limited to the amount of times he can drive it per year. They don't know he drives it everyday. What they don't know doesn't hurt them.
Or call Shannons and get it insured under limited usage with you as a listed driver. They actually take into account how often the car gets driven. Tell 'em it'll only be driven once a week, if it's lucky. Compared to a normal premium it's heaps cheaper.
Moderator
lol @ what they don't know won't hurt them. You will be surprised how far they will go to investigate a claim to get out of paying up. For example, knew a guy with your attitude who insured the car as private not business as it was cheaper but he used it for work. Roll on time, he has an accident. During their investigation they rang his place of employment and asked along the lines 'does Fred Flintstone work there... yeah? He drives a blah blah right?' GOT HIM.
<---Brad Quaid = internet stalker
Most of the time i drive an 89 Camry - cost me $500. This might help you understand the stuff you don't understand. Be careful with your new knowledge - knowledge is power.
Moderator
On top of the examples of cars that people have shown you where the insurance premium is worth more than the car, also take note that insurance companies only offer comprehensive insurance on cars up to a certain age. I recall about 5 years ago trying to get comp insurance on a older car I owned (not a classic before everyone screams Shannon's to me) and none of the companies I rang insured cars of her age.
Of course if you have finance over a late model car, then it's suicide not to have comprehensive insurance. I believe it is written into a loan document (same as your mortgage) that whilst under finance you must have insurance.
go in Luxury
thanks bud, appreciate it. BTW my reputation is disabled, I noticed a red thingo when I was looking at my PM box.call the insurance company insted of asking in the pub where you may not get the correct answer
Was just asking a general question in a car forum, appologies if I upset yousometimes tho when you ask an insurance company they tend to bend it a bit to sell you their policy, coz it sounds good at the time.
To everyone else thanks for the help and suggestions
A bogan with style
Fair call on some of the comments to what I said, maybe im a bit over the top but Ive been the victim of 2 hit and runs and another that was sure they were in the wrong and werent goin to pay, when they were actually in the wrong and were made to pay....
Full comp saved be close to $20K in repairs.. in just 3 accidents.. none of which were my fault..
A $500 ****ter, i guess not having full comp is kinda understandable but 3rd party should be mandatory, but even for a ****ter i'd still have full comp..
Every car I have owned I have worked my ass off for it. Be buggered if i let some tool with no insurance take it away from me and have nothing.
Each to their own.
go in Luxury
see thats the point.Every car I have owned I have worked my ass off for it. Be buggered if i let some tool with no insurance take it away from me and have nothing
If I cause an accident in the Acclaim or Adventra I need them back on the road, thus why their comprehensively insured, my car gets fixed, your car gets fixed.
The $500 run around is a different story, it would be 3rd party insured. that way IF I hit YOU your car gets fixed under its insurance, it just means I'm left with a repair bill for my car, in which case I would just send it for scrap. Throw into the equasion is the fact that it'll only be driven once in a blue moon. It runs off leaded petrol, has no power steer or air conditioning , has drum brakes all round, and isnt very comfortable to drive long distances like I do to and from work, essentially I'm paying for it to sit in the front yard most of the year.
Thus why I'm asking what happens if the CTP and insurance is in my dads name BUT I cause an accident while I'm driving it, because I wasnt too sure how that goes then as the car itself has these things against it, its just the driver isnt listed on the paperwork.
At no point in this topic have I said any of the cars wouldnt be insured, I dont know whats giving you that idea??
A bogan with style
Was a generalization about car insurance, not specifically directed at you.
Insurance companies will do anything to get out of paying a claim, by the sounds of the type of vehicle your goin to be driving, its more than likely goin to end up in an accident lol.. I had a car that was drum brakes all round.. dangerous isnt the word!! not good at all lol.
You will want to make sure that you read the fine print in regards to any claims.. instead of asking here, ring around the insurance companies and ask them, get a PDS statement and all fine print. it is the ONLY way to be sure.
amen to that, our insurance company pulled a number of tricks to get out paying for our claim.
one of which was telling us that the previous owner had fiance owing on the vehicle in another state so insurance is void case closed even though we did a revs check that came back clear before we bought it. turns out they were punching in somone elses vin number instead of ours and i had to figure out this mistake to continue on with the claim not them
<---Brad Quaid = internet stalker
AFAIK 3rd party in vic is mandatory. I don't get how you having full comp saved you money when it wasn't your fault... Even my 3rd party on the $500 camry covers MY car if it is hit by an uninsured vehicle.
Go Fast or GTFO!
instead of paying for it take it for a test drive every 6 months.
if your not going to drive it as you say.
but who knows.
to me it seems like a waste. to spend so much money on a car and never drive it.
same with people buying a nice car and not driving it because something "might" happen.
i know someone who does this and it ****s me to tears. they have owned the xu8 since brand new. spent over 50 grand on insurance. and its only done 30 thousand kays.
A bogan with style
3rd party is NOT mandatory in Victoria..
Saved me money because If i didnt have it then it wouldnt have been chased by my insurance company and paid for, having eventually found the culprits I was not 1 cent out of pocket.
3rd party does not cover your car if hit by another vehicle.. simple as that.. not sure what it is ytou have but it cant be just 3rd party.. A mates car got hit recently and wasnt covered by their 3rd party even though they had the others drivers details..
<---Brad Quaid = internet stalker
well we could argue all night but i only recently paid mine and actually read the terms and I am covered if another car hits me and they are uninsured - on el-cheapo third party (with fire and theft) through RACV. Simple as that as you so eloquently put it!!
http://www.racv.com.au/wps/wcm/conne...heft+insurance
The Kicking Horse
3rd party property is not mandatory in Victoria.
3rd party life (or body) is built into your total $5xx annual rego charge.
You'll probably find that you'll only be covered to a certain amount. Different insurers work differently.
Generally, if you have full comp insurance, you don't have to worry about the other parties insurance, you simply hand their details over to your insurer and they'll chase for you. I've had instances where full comp was worth its weight in gold, due to their excess free hunting.
If you have full comp, another drivers insurance does not matter one little bit.
<---Brad Quaid = internet stalker
yep i was thinking of CTP not vehicle.
Only covered to 5k - but we already established it is a $500 car soooo..........
Anyway - i've never had a problem with it. In my case the other driver's insurance also doesn't matter one little bit.
If my car was worth more i wouldn't think twice about full comp (which i have on the S-class) but not needed on the camry.
A bogan with style
Damage to your own vehicle
If you have a collision with another vehicle that is not your fault, as determined by us, and the other party isn't insured, we'll pay for the repairs to your vehicle for up to $5000. Conditions apply.
Seems 3rd party has changed from what it used to be.. I see however they still give themselves loopholes as highlighted..
I dont trust insurance companies as far as I could kick them, they will do anything and everything to get out of paying..
<---Brad Quaid = internet stalker
there is a point we can agree. i don't trust them and they have failed my other half only recently. like i said Amanda in the claims dept at RACV is incompetent to say the least.
Anyway there are conditions imposed to all products be it 3rd party of fullcomp, what i have is sufficient to the camry - at worst someone wrecks my car and i lose a $500 car for which i have already recouped the replacement cost through not having full comp.
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