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Insurance for Young Drivers

1991_Vn2nV

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MikesVT said:
Hmmm... why am I paying so much insurance for mine when ive had no licence suspensions, no claims, nothing, the car is completely stock, V6, and its not as if its a new car, garaged, got an alarm, everything an insurance company could want... the only thing is im 18. The CHEAPEST i could find after ringing every insurance company in the phone book and others that people suggested is $2,300 a year, i know others my age driving around in V8s and getting cheaper insurance... what the hell? not happy jan! I had considered insuring in my dads name with me as a driver, but thought i should start having an insurance history of my own plus the price wouldnt have been much different, a couple hundred at most.

Is that comprehensive? If its full comprehensive you'd be payin a bit cause your cars value is pretty high, but i'd still think you could get cheaper than that man
 

J_D

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vystorm_adel said:
Biggest factors in why you are paying so much (and you can't control them)...... age, experience and no claim bonus rating. Increase all of those and your insurance will drop dramatically.

Time for my daily rant.

Insurance companies have to rip someone off and young people are easy targets. People over 80yrs old actually have the highest crash statistics of all age groups but I bet their insurance doesnt go thru the roof because they are a bad risk. Be good if they did jack their insurance up to get more of them off the roads. Why is it that when an old person has a crash causing serious injury or death the community says "we cant take their licence away, they will loose their independence" but when a young person does the same thing they cant be quick enough to say "take their licence off them, they shouldnt be allowed to drive again".

As far as I see it the old person should have the same right to lose their license as well, after all they dont have a job they need to get to or a family to support and society doesnt seem to care about these things when its a young person.

When I was 21 I had a nissan NXR which was standard other than a sports exhaust and only had 105kw and I only got insurance thru AAMI because they stuffed up and told me I could get insurance with them when under their rules I actually couldnt, so I got out of it for 1700 a year on rating 3 as my parents were with the same insurer. Would hate to think of how much it would of been on rating 6.

If you look at how much they gouge out of under 25's you can see that this is where they make their profit.

Example: Most people under 21 seem to be paying about 2000 dollars for a year and we will say for arguments sake that the average car value is 20000 that means that one in ten under 21's write off their car every year!!! I think not! Can you imagine the carnage on the road if that was actually the case. Its obvious that the insurance companies are simply picking on the weakest sector to maximise profits.

I think insurance shouldnt be a buisness it should be a non profit exercise and everyone should pay a flat rate, the only thing that should vary is the excess, after all isnt the whole purpose of insurance to SPREAD THE RISK not penalise certain sectors of the community.

Whew.

End rant.
 

MikesVT

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1991_Vn2nV - Yes it is full comp, and I would have thought I would have been able to get cheaper than that, but I rang and got a quote (if i even got that far, most said they couldnt insure me) from every insurer and 2300 was the cheapest with an excess of i think 750, hopefully next year as my rating goes up it'll cost less, as i understand it my rating goes up one every year if i dont make any claims... not 100% on that. Hahaha I'm paying for this, and an average $100 a week in petrol without a job and with uni fees/books hahaha
 

vy_acclaim

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Something to chew on... :bang:

How many old people do you know that drink inordinate amounts of alcohol, are full of testosterone, do burnouts on public property, and are susceptible to the effects of peer pressure? The olds may be blind, frail and slow, and may very well be a danger on the road; but no comparison can be drawn between the elderly and the "young". All the reckless hoons I would suspect don't live long anyway, therefore rendering the olds by default as sensible law abiding citizens who have survived countless wars, the depression, and god knows what else. Before everyone gets up on their high horse and cries foul - I am a 22 year old male, and am hit with all the same penalties that you are. I am a cautious driver, and would appear to be the ideal candidate for an insurance policy - yet this is not the case. I would hope that old people have a refined sense of maturity about them, and a wealth of knowledge and wisdom to draw upon. No offence, but the opinions of a teenager really mean nothing to society. Who would take the advice or opinions of anyone that only recently became eligible to vote, buy cigarettes, alcohol, or drive for that matter? Adolescents have little to contribute to society, and therefore aren't expected to contribute. So you have a higher school certificate you say? Congratulations - you can count and spell. Adolescents still have several years of study or hard labour ahead of them before anyone wants to hear anything that they have to say. I am nearing the completion of an honours degree at university - and I still have to scream to be heard.

As for paying a flat rate... How about spreading the taxes? My father paid enough taxes to buy two new SS Commodores last year. Meanwhile, a bum on the other side of town paid nothing because he earns nothing - in fact; he was PAID to sit on his arse putting my father's taxes through the pokies or in his arm. Why is it that we live in a society that rewards the lazy for contributing NOTHING, yet taxes the successful for making the world a better place? I could go on and on about this, but one fact remains - I can do nothing about it. We pay inordinate amounts of insurance, because a minority of fools to stupid to breathe (yet alone drive) get behind the wheel, destroy property, and sometimes take someone's life with them. The system is not the enemy - those individuals are. The system is merely responding in a manner necessary to preserve itself. If that involves penalising someone with no driving experience, who somehow feels the need to buy a powerful car that they in all probability can't control, then so be it. Put yourselves in their shoes - what would you do? What could a no-brainer adolescent possibly want to do in a powerful car on roads with fixed speed limits? Society is sending our age group a message - steer clear of performance vehicles until you are old enough to use them properly. Spend your money elsewhere - get an education, travel, whatever... Enjoy the car that you have and want by all means - just don't do any engine modifications until you are 25. Save up for them - beat depreciation, reap the interest, and avoid the insurance premiums! Whilst it may sound like I'm shooting myself in the foot, I would personally vote in favour of an initiative to ban performance cars from underperforming drivers. Why should I have to pay for someone else's stupidity?

That was my gripe. It was not directed at anyone, merely those un-named individuals who ruin it for everyone by doing the wrong thing. I respect that everyone has an opinion, and that it may deviate from mine - just respect the fact that this is my opinion. Society is full of perceived injustices... Take solace in the fact that you will one day grow out of their sights, and will enjoy the financial freedoms that your parents do.

Apostle ft. Franklin... said:
'Lord... Give me strength to change the things I can change, give me courage to accept the things I cannot change, and grant me wisdom to know that only two things in life are certain - death and taxes.' HAHAHA
 

1991_Vn2nV

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vy_acclaim said:
Put yourselves in their shoes - what would you do? What could a no-brainer adolescent possibly want to do in a powerful car on roads with fixed speed limits? Society is sending our age group a message - steer clear of performance vehicles until you are old enough to use them properly. Spend your money elsewhere - get an education, travel, whatever... Enjoy the car that you have and want by all means - just don't do any engine modifications until you are 25. Save up for them - beat depreciation, reap the interest, and avoid the insurance premiums! Whilst it may sound like I'm shooting myself in the foot, I would personally vote in favour of an initiative to ban performance cars from underperforming drivers. Why should I have to pay for someone else's stupidity?

What do you call underperforming drivers? Remember that the 16-21 age group is actually one of the lower age groups for crash statistics yet its the age group that generally drives the oldest, most unsafe cars.

The reason why the 21-25 age group is at the top of the list is its because its these people that are able to afford newer model performance cars. Its a lack of experience in a high powered car thats the problem.

If you ban 21-25 year olds from getting these cars, it will simply move the problem to the 26-30 age bracket.

I disagree with basically your entire post, especially that about the guy that pays no taxes and you complaining about how much your dad pays in taxes. Typical snob talk, simple as that. You're dad obviously earns alot of money and you must be well off, so get over it.
 

MikesVT

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I agree with something that vy_acclaim mentioned. High performance cars should not be available to underperforming drivers. HOWEVER by 'underperforming' I'm not refering to Learners or P platers in particular, I'm refering to all age groups with however many years of driving experience. My grandfather, at 70 in my opinion should NOT be on the road, yet he can go and buy a V12 aston martin if he likes (and if he had the money, maybe he could buy a cup holder from an aston martin thats about it...). Yes, there are P platers on the road who have not had sufficient experience but thats not to say ALL P platers havent. The recommended 120 hours is laughable. By the time i was off my L's I had done approx 1000 hours. I realise this is not possible for some. Thats why IN MY OPINION I dont think any certain age groups/driver groups should be banned from driving high performence cars (which mainly come with MUCH improved breaking, safety features, ect.) I think that laws should be changed to make defensive driving courses and the like (driver education) COMPULSORY (paid for by the revenue raised by traffic fines, rego costs ect). Based on the results of these courses, drivers should be able to purchase and drive whatever car they please AS WELL AS the price of insurance that that INDIVIDUAL driver would need to pay. Yes... This would be a little 'too much effort' however there is pretty much exactly the same amount of effort as carrying out licence tests to obtain P's. Thats my two cents, I know there will be people that disagree but thats how I believe the system should work.
 

vy_acclaim

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1991_Vn2nV, I'm not being a snob mate - it's not my money. I struggle to pay the bills just like everyone else. The taxation laws get under my skin just as the state of insurance does for you. I could have picked a better example - like actors/athletes earning mega dollars as apposed to scientists, astronomers, etc. who earn just enough to live. There are some serious flaws in the system... like that recent incident about P Platers not being able to buy a car with a turbo in it, irrespective of power. Bureacracy gone mad - sure, you can buy a 297kw Clubby, as for the 120kw Turbo Citroen - not a chance. I wasn't having a go at anyone, and I'm sorry if you perceived it like that.

MikesVT - I totally agree with the driver training courses. I think that driver education is so laxed nowadays. There should be more accountability for one's driving habits - install a black box in the cars of known offenders, etc. Penalising the majority for the mistakes of a minority isn't the go... More should be done to reward safe drivers, and penalise those who aren't.
 

Bec

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Food for thought...

The average claim from an elderly person is under $700
The average claim from a younger person is well into the thousands

Even if elderly crash more often, it's more likely to be a ding in the carpark, whereas younger drivers tend to write cars off.

I was 21 paying $340yr comp with aami insured for $11k, no claims, rating 1 with 1 suspension for points in 2002.

Then I lowered it and they kicked me over to Just Cars.

Now I'm paying $850yr insured for $10k, and noone else will insure my car.

There are just too many younger modified commodore drivers writing their cars off. Of course it's not going to be cheap. It makes it expensive for those who aren't idiots, but it's obviously difficult for insurance companies to determine what sort of driver you are.
 
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