Insurance cost issues

[ojc2]

Here's the story, it's kind of long but please hear me out as I'm in a real bind. When I went to buy my 07 GRB 2.0l Impreza STI I called my insurance company AMI to let them know I would need full cover starting immediately. The woman on the phone explained what my premium would be and that all customers excesses are going up by $100 so mine would become $400. I agreed to this.

 

When I received my policy details I saw that my excess was actually $1600, for everything. Regular driving, fire, theft/conversion and malicious damage. I called to question this as I am sure that 1600 was never mentioned. The woman I spoke with said her manager listened to the call and that it was (I have requested a transcript and audio file) and am yet to receive it.

 

A couple of days ago I anon rang them back asking for a quote on a vehicle I was "looking" at buying, a 2007 Holden Commodore SS V 6.0l V8 6sp manual valued at the same price as my STI. Bare in mind the SS is a 6sp manual, rwd. 6 litre V8 with 365hp from factory, it's no nana car or a snail. Well the premium was $10 a month less and the excess was $900. I asked her if the call was being recorded to which she responded "yes it is". I then linked this quote to my details with them and told the woman to send this to the underwriters for comparison against my STI policy to ask there was such a large difference in price when the SS is clearly a much more powerful and faster car.

 

Just now I went on their website to try an online quote for my vehicle. If selecting Subaru, Impreza, 2007, the only options are the WRX or SGT which is not my model, these however have an excess of $400 for driver and $900 for theft/conversion. The STI is not available to select.

If you select Subaru, WRX, the minimum year is 2012 for some reason. So I selected 2012, the option for a 2.5l STI Hatch comes up with a default agreed value of $46,600, dropping this to the minimum of $37,280 gives a premium that is $8 more a month than what I am currently paying and an excess of $400 for everything. I have an agreed value of 30k on mine going by TM and dealer prices also considering it has only done 70,000km.

 

I am a 28yo male.

Full licence since 2009, have never lost it, had 2 speeding tickets ever the last being 6 years ago.

Made 1 claim in my life and it would have been 10 years ago, never been declined insurance and have no criminal or juvenile records.

The car is stock standard with no accessories either.

I have specifically listed no under 25's at all.

I have been a customer with this company for 11 years and 1 month and also have over 50k of contents insured with them on their premium policy.

 

 

My car premium is $61 per month

Excess for all is $1600. I am unhappy but willing to accept a $1600 excess for theft/conversion but not at all for driver.

 

Are they F***ing with me?

 

I have told the lady I have been dealing with the whole time (who has been very helpful and thinks $1600 for driver is ridiculous) that if the underwriters do not lower the driver excess I will cancel both policies and find another company. Who do you guys go with and is there anyone you recommend?

[SpeedySub]

Go try state. They have been really good to deal with. Try their online quote service to see what it might be. But call them to discuss the actual policy.

[boon]

If you garage it all the time get a quote from Classic Cover.

No quibbling, no bullshit, I have my ridiculously modified STI insured with them for a shade more than yours costs but I have a couple of speeding tickets, been declined insurance yada yada blah blah.

Not sure what my excess is off the top of my head but it's a lot less than $1600. Plus the little aspects of the policy are what appeal to me - parts-off-the-car cover, my choice of repairer, first right of refusal if it's written off, ALL glass covered, lots of perks you don't get with a mainstream insurer.

[slystiguy]

I'd say just ring around or find a broker and get the lot re-done. If you insure a bunch of S*** you'll probably get a heavily discounted policy. $1600 is mental, at 19 driving a 5k wrx sti car my premium was around  IIRC

[Kiwi_Fozze]

State F***ed me with my grb, wanted 1600 excess and 2k a year premiums.

 

I ended up going with youi for the grb, but wish I didnt as they are maliscious slimy bastards.

 

All I can suggest is to ring around, they still treat these to the same theft risk as the earlier pillarless subies when the truth is, the only way someones taking the car is on a flatbed.

[hunter951]

im 22, v7 wrx sti. NAC were the only ones who would insure me (car is registered under my father, im the nominated main driver), 1400 a year and i have a 2k excess... dads excess is 800 coz hes a old bastered. pretty rough, but i have no other choice until i finish uni then hopefully MAS insure me, although they are up S*** creek atm....F*#K

[Andy_Mac]

Damn thats rough, they certainly don't like hearing the words WRX STI. I was still 22ish when I first got the 3rd gen Legacy and that was still only around $850 a year and $750 excess including the under 25 $250

[SpeedySub]

My first car was a 1980 Ford Cortina and I don't remember what the premiums were but excess was $750 which increased to $1000 after I hit a taxi. 

As @SLY STI said ring a broker, they should find you the best deal.

[lasersooby]

Hi, have you tried FMG? I have a modified Subi STi V7 and have a very reasonable premium on that.  I was with AA for 8years before they decided that they could not insure the car due to thefts but my one has never been stolen, no tickets, no loss of license, drive less than 1200kms/year, no claims ever, but they decided nah they wouldn't insure it but were happy to keep insurance on my wife's NZ CR-V, the house and contents.  Told them to go screw themselves, went to AON through a broker and have ended up with awesome premium rates for 3 cars, house and contents.  They are bloody good

[D1Style]

Another option is via the bank which i did.

 

On my RA i was paying $900 premium and $300 excess which wasn't too bad

 

Was previously with State and was paying around $1100 premium and about $450 excess

[ojc2]

So, good news I went on their site and did an auto quote, I selected Subaru, WRX, 2012, Hatch, 2.5l 6sp STI.

 

All excesses were $400, the vehicle defaulted to 46k, the lowest I could drop to was 37. I called them and said I want my insurance to be the same as what this quote says as the cars are existentially the same except their 1 had 500 more cc's. I emailed the quote to myself and then rang them and explained the quote. The guy was like no that cannot be right and asked me to email it to him, which I did. On receiving it he went Hmmmmm, I'm going to talk to the underwriters again. I was then passed onto some different lady.

 

So to conclude, after 2 months, 10 or so phone calls averaging 40 mins each and about 6 different AMI representatives I managed to get my excess for me and over 25s lowered to $400 from $1600. Inexperienced (driving for less than 2 years) but over 25 is 650. No under 25's.

 

Theft/Conversion or malicious damage was dropped to 400 with the condition of an extra 800, so a total of $1200. I asked for less on the but the lady said, "hey I managed to get your driver excess down to 400 from 1600, I think 1200 is a pretty good compromise" I sad yeah I wont push my luck. She did say if I move to a place with a lockable garage the theft excess will drop dramatically.

 

At the end of the day, I am no longer worried to drive my car as even "minor" damage" costing $1500 to repair would put me out of pocket by that much. If I was to need insurance and it be worth wile using I was hoping it would be a write off that wouldn't result in me severely damaged or worse dead

 

So far, the premium is still $61 a month, I'm going to give it a month or so and start pestering them again about why the 2012 STI valued at $37,280 has a premium 8 dollars higher than my 07 with a value of 30k. Wish me luck haha