Insurance for P Platers

[Pub247]

Or if you want a guarantee you'll always have a car on the road


Do rich people not insure their mansion just because they can afford another?

Ok first of what do houses have anything to do with cars? Most people who are considered well off and have large houses worth alot of money dont have another million sitting in their bank accountsto just go out and buy another. In fact i'd more than 90% of houses purchased are bought using some form of money lending.
Have you ever been in accident? Just for arguement sake you haven't how does full comp insure you ALWAYS have a car? does it magically repaired right at the scene of the accident? No your car has to be repaired IF it can. Now most insurance companies will get a hire for you which some will reimburse the cost to after the car has been repaired and receipts are given to them. Others may cover the cost of the car rentals themselves. So you can get a hire good now you just need to get there to pick it up.
There are grey area here where if it was a business car say for example a van full of equipement or a car you used to tow a trailer full of your **** to work a hire car isnt going to cut it there.
Me i if i crashed my $300 wagon right now It wouldn't bother me in the slightest i'd probably say well i got my monies worth from that and go buy another shitter to get around in. In the mean time id borrow a car, use public transport or get mates to drives me around. So in the end save money and dont miss out on anything really

 

[nicko]

It could even constitute fraud. Either way, there's a risk.

Like I said, if you do 1 hour of work for money and you declare this money in your taxable income AND pay tax on it, Then your car IS used for business purposes under that ABN number. This will get you insurance as a business car. But you wont be able to claim it as a tax deduction because your using it for private use aswell. Either way you get cheap insurance. Not illegal IF you pay tax on the money you earnt under that ABN.

 

[danja]

Like I said, if you do 1 hour of work for money and you declare this money in your taxable income AND pay tax on it, Then your car IS used for business purposes under that ABN number. This will get you insurance as a business car. But you wont be able to claim it as a tax deduction because your using it for private use aswell. Either way you get cheap insurance. Not illegal IF you pay tax on the money you earnt under that ABN.

Does it matter what proportion of it's use is for business purposes related to that ABN? I will occasionally use my car to visit a client I have a contract with, but in reality this will constitute less that 1% of my use for that car.

 

[STEALTHY™]

Ok first of what do houses have anything to do with cars? Most people who are considered well off and have large houses worth alot of money dont have another million sitting in their bank accountsto just go out and buy another. In fact i'd more than 90% of houses purchased are bought using some form of money lending.
Have you ever been in accident? Just for arguement sake you haven't how does full comp insure you ALWAYS have a car? does it magically repaired right at the scene of the accident? No your car has to be repaired IF it can. Now most insurance companies will get a hire for you which some will reimburse the cost to after the car has been repaired and receipts are given to them. Others may cover the cost of the car rentals themselves. So you can get a hire good now you just need to get there to pick it up.
There are grey area here where if it was a business car say for example a van full of equipement or a car you used to tow a trailer full of your **** to work a hire car isnt going to cut it there.
Me i if i crashed my $300 wagon right now It wouldn't bother me in the slightest i'd probably say well i got my monies worth from that and go buy another shitter to get around in. In the mean time id borrow a car, use public transport or get mates to drives me around. So in the end save money and dont miss out on anything really

I never said anything about 'well off people' who have a mortgage. I said rich people, who would still have another million in the bank. Of course they still insure it!

Either way, its an opinion thing, i havn't always had full comp, either on a $2000 car, or a $20,000 car, but having full comp covers you. And yes, either a hire car is organised, or a loan car is offered from the repairer (which is stuff you should check when you make your policy, if you don't get this stuff in the policy, change insurers!)
Also your van full of work gear comparisen is moot, would you drive an unreliable Mitsu starwagon as a work car and just have 3rd party, allowing money for another van? don't think so somehow.

 

[wadej86]

I'm with AAMI - I initially joint my aunties insurance who had full cover. By joining her insurance I was able to pay monthly ($700 a year) - with $400 excess in the case of an accident.

After staying with her insurance for a year, AAMI then granted me my own policy (since I had proved good behaviour (no crashes) for a year, I was also able to make monthly payments). I now pay $72 per month - direct debit out of my nominated account

 

[ve_andrenalin]

There are things that you gotta remember about insurance, insurance will be a different price from suburb to suburb where the insurance may have found that a particular suburb get more stolen cars than others, so in that case people would be getting a different quote and can be a great differences in prices.
Alot of these other insurance like smaller insurance company generally own by AAMI or GIO such as just car insurance is owned by AAMI, they mite give a cheap price but then they will rape u on the excess if u have an accident insurance cud be 800 but excess be like 2000. If u went to AAMI or RACV insurance be more expensive but excess wont rape u as much on the excess. At the end of the day insurance are gonna try get the most of the money out of u.
There is no such a thing wether full or third party is better, me personally if the car is cheap ill go third party atleast i ere are things that you gotta remember about insurance, insurance will be a different price from suburb to suburb where the insurance may have found that a particular suburb get more stolen cars than others, so in that case people would be getting a different quote and can be a great differences in prices.
Alot of these other insurance like smaller insurance company generally own by AAMI or GIO such as just car insurance is owned by AAMI, they mite give a cheap price but then they will rape u on the excess if u have an accident insurance cud be 800 but excess be like 2000. If u went to AAMI or RACV insurance be more expensive but excess wont rape u as much on the excess. At the end of the day insurance are gonna try get the most of the money out of u.
There is no such a thing wether full or third party is better, me personally if the car is cheap ill go third party atleast i know the others gonna be covered but if u car is expensive go full its simple u just gotta toss wats the best.
Ive heard the new insurance company youi is giving good deals try them.know the others gonna be covered but if u car is expensive go full its simple u just gotta toss wats the best.
Ive heard the new insurance company youi is giving good deals try them.

 

[vxcustom]

I'm helping my youngest with this as he gets (hopefully) his licence tomorrow. The cheapest I found was AAMI at $1360 for the first year full comp with windscreen insurance and free defensive driving course (doing this gives a 10% discount)

 

[Carl]

Holy crap.
I got my red P's only 4 years ago, and my insurance was only 600 - 700$.
However, I've always had the highest excess. Is that why it's so low?

I was with NRMA then, insuring my car full comprehensive, in a safe area, off the street.

 

[zersys]

Thats how Im doing it. Im paying 500 a year full comp. I dont think my dad has ever driven my car. Hell I dont even live with him.

So what happens if you get in to an accident and it was your fault? Since the insurance is under your fathers name. Are you anywhere to be seen on the insurance? I know a fella who's under 25, Car in parents name, insurance, green slip, and he's on non of it. Since it's all much cheaper. But I've always wondered what would happen to him if he hit somebody/got in to an accident and was at fault. He reckons if his Dad says "I just let him drive sometimes" that "he'll be right", but that doesn't sound right lol.

 

[MikeCuzzy]

So what happens if you get in to an accident and it was your fault? Since the insurance is under your fathers name. Are you anywhere to be seen on the insurance? I know a fella who's under 25, Car in parents name, insurance, green slip, and he's on non of it. Since it's all much cheaper. But I've always wondered what would happen to him if he hit somebody/got in to an accident and was at fault. He reckons if his Dad says "I just let him drive sometimes" that "he'll be right", but that doesn't sound right lol.

Basically - they can refuse to pay out.

I'm 21, I own a VE and it's insured under full comp. The car and insurance are both in my name. Rego + CTP is $1100 per year and Full comp is $1500 per year with windscreen and I live in one of the safest suburbs in Sydney. I have a mate who has it all under his parents name, and that's his call. I don't have the luxury, nor would I want to put it under my parents name. If you can't afford to insure your car in your name - don't get a car.