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Thread: insurance for an MPS (20yr Male)

  1. #1
    Join Date
    Aug 2009
    Location
    Dora Creek, NSW
    Age
    34
    Posts
    96

    Smile insurance for an MPS (20yr Male)

    Hi Everyone,

    I am just about to purchase an 05 MPS 6 (pick it up 29th).

    Being a 20year old Male pretty much no one would insure me except AAMI and NRMA who were all $210/month or more (with a high basic excess).

    In my pursuit to find a better deal I found a MUCH MUCH cheaper insurance company. Anyone heard of "Fastr Insurance". They're underwritten by Fortron Insurance Group who seem to be credible from what I can see.

    Their quote came back at about $1650 per year with a $400 basic excess ($400 extra for drivers under 25) including windscreen (up to $500) and a few other things too. No penalty to pay by the month either.

    I definately recommend checking them out.

    Thomas

    P.S. I have an 07 SP23 Sedan in Black (Luxury) for sale on car sales ($25.5k) REGO is BCU43N

  2. #2
    Join Date
    Nov 2008
    Location
    Brisbane
    Age
    47
    Posts
    3,387

    Default

    Ahh those were the days, I paid $2400 a year insurance for my first car...

  3. Default

    Welcome Tomo, tell us more about your sexy MPS6 beast your picking up ... I still love mine to bits after 2 yrs, 3 months, 6 days and 3 hours

  4. #4

    Default

    I bet you can't wait till your over 30!

  5. #5
    Join Date
    Aug 2009
    Location
    Dora Creek, NSW
    Age
    34
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    Default

    Quote Originally Posted by blackbetty View Post
    Welcome Tomo, tell us more about your sexy MPS6 beast your picking up ... I still love mine to bits after 2 yrs, 3 months, 6 days and 3 hours
    2005 MPS6 Leather Pack in Titanium Grey. 75,000kms. Got it for $27k down in ACT (I live near Newcastle). I researched on the forums before I took it for a test drive and immediately picked up that it needed a new rear engine mount and the rear diff bolts were loose. The clutch wasn't that great either...I stalled it twice! Never stalled my SP23 before EVER.

    Anyway I got $1700 off the asking price and was assured the engine mount and diff bolts would be sorted out. Not that it matters overly because in ACT car dealers have to provide a 3 month statuatory warranty anyway.

    It's a bloody quick car though, I hit boost at 3000rpm and nearly shat myself not expecting it to propell me like it did (never driven a turboed car before).

    Unfortunately I can't pick her up until my SP23 is sold and the lease is paid out so the next week or two is gonna drag on and I'm desperate to sell.
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  6. #6
    Join Date
    Aug 2009
    Location
    Dora Creek, NSW
    Age
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    Smile

    Quote Originally Posted by MPS3 View Post
    I bet you can't wait till your over 30!
    Once you're over 25 they no longer worry about age so much until you're getting to be an old fart haha. But yes insurance won't hurt quite so much in 5 years time.

  7. #7
    Join Date
    Dec 2008
    Location
    Coorparoo, Brisbane
    Age
    43
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    3,771

    Default

    Enjoy your MPS!

    Make sure you read your PDS - Not dealt, or heard much of Fortron...

    Certainly glad I don't pay what you do!

  8. Default

    Mate listen I am 20 as well and this is what I always do for insuring cars.

    My insurance is only $800 a year with AAMI and I am covered! What I do is I put the insurance under my Dads name who is 60 years old. I don;t put myself on the policy otherwise it would be much more. I am still covered due to the fact that I say I drive rarely so there is no point for putting my name on the policy. If you ever get into an accident (hopefully not!) you just pay the higher access and still covered. Don't know why all young drivers don't do what I do!

  9. #9
    Join Date
    Nov 2008
    Location
    Brisbane
    Age
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    Default

    Problem with this method is if you're driving the vehicle regularly and you're found out it could void any claim (insurance investigators are quite thorough...), also you're not getting any no claims bonus record for yourself. So when you put the insurance under your name you'll be starting from 0% NCB (Rating 6).

  10. #10
    Join Date
    Nov 2008
    Location
    North side, Vic
    Age
    37
    Posts
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    Default

    ^^ and prob best not to post it on a public forum

  11. #11
    Join Date
    Dec 2008
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    Coorparoo, Brisbane
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    Default

    Quote Originally Posted by arashyyy_88 View Post
    Mate listen I am 20 as well and this is what I always do for insuring cars.

    My insurance is only $800 a year with AAMI and I am covered! What I do is I put the insurance under my Dads name who is 60 years old. I don;t put myself on the policy otherwise it would be much more. I am still covered due to the fact that I say I drive rarely so there is no point for putting my name on the policy. If you ever get into an accident (hopefully not!) you just pay the higher access and still covered. Don't know why all young drivers don't do what I do!
    I am sure your insurer would love to hear this...

    There is this "thing" called, Your Duty of Disclosure, which is usually found in the first few pages of your PDS, which in a nutshell means that, you must inform your insurer of any details which may affect you insurance, or the insurers right to insure you. If you breach your Duty of Disclosure, the insurer at their discretion may chose not to pay out on a claim, or they may take into account any prejudice against the insurer.

    ...My 2 cents having worked (and still work) in the Insurance Industry for the past 8 years.
    2015 Audi S3 | MTX | Sedan | Sepang Blue | Sunroof | SPP1 | Assistance Package | BW - Week 17 | Delivery June/July '15... Hopefully...

    Help support OzMPSClub - Become a VIP Member today! - Click here for more details...

  12. #12
    Join Date
    Aug 2009
    Location
    Dora Creek, NSW
    Age
    34
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    Default

    The vehicle will be registered in my name so its a pretty safe assumption that I didn't buy it for my mum and dad to drive. Insurers aren't dumb. The only way I see this working is if you registered the car in your parents name too. Even then the NCB thing is an issue.

    At the moment I've been driving for 3 years with no at fault claims so I have a 40% rating which really helps.

  13. #13
    Join Date
    Dec 2008
    Location
    Coorparoo, Brisbane
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    Default

    Quote Originally Posted by tomo89aus View Post
    The vehicle will be registered in my name so its a pretty safe assumption that I didn't buy it for my mum and dad to drive. Insurers aren't dumb. The only way I see this working is if you registered the car in your parents name too. Even then the NCB thing is an issue.

    At the moment I've been driving for 3 years with no at fault claims so I have a 40% rating which really helps.
    Spot on.

    Have you tried the following:

    Car Insurance Australia - AAMI Car Insurance Quotes - CTP Insurance - AAMI
    Car Insurance Australia - Insurance for Young Drivers - Just Car Insurance
    Car Insurance, Online Car Insurance, Car Insurance Quotes ? Youi
    Car Insurance, CTP, Home, Travel & Membership from NRMA.
    Suncorp : Banking Insurance Investment Home Loans Australia

    Do an online quote, in most cases you get a discount for doing so.
    2015 Audi S3 | MTX | Sedan | Sepang Blue | Sunroof | SPP1 | Assistance Package | BW - Week 17 | Delivery June/July '15... Hopefully...

    Help support OzMPSClub - Become a VIP Member today! - Click here for more details...

  14. #14
    Join Date
    Aug 2009
    Location
    Dora Creek, NSW
    Age
    34
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    Default

    AAMI - $220 monthly. Very high age excess ($1200) and Basic excess is $600
    NRMA - Best value out of all the major players. $205 monthly including windscreen and hire car. $550 basic excess. $400 age excess.
    Just Car - Won't insure.
    Youi - Won't insure.
    Suncorp - Won't Insure.
    CGU - Won't Insure.
    Any of the banks - Won't Insure.
    Allianz - Won't insure.

    Fastr Car Insurance - $135 monthly including windscreen and hire car. $550 basic excess and $800 age excess.

  15. #15
    Join Date
    Dec 2008
    Location
    Carindale
    Age
    37
    Posts
    2,043

    Default

    i was paying 123.60 per month with just car insurance when at yatala!
    now at carindale im paying 117.00 per month total still 1400.00 a year!
    im insured with suncorp on my work car(merc A160). At yatala i was paying 78.00, now in carindale im paying 91.00!
    so in all just car insurance saved me on location, but suncorp who woulnt insure me on the mazda crunched me more because in there words 'you are closer to the city'.
    bak to square 1!!

    ---------- Post added at 09:26 AM ---------- Previous post was at 09:23 AM ----------

    im a 22 year old with no licsnse loss (yet) but with 2 claims!
    not too bad!!
    oncei updated my address i also added my girlfriend on the insurance... still cheaper too
    '
    'BRISBANE AUTOSHINE' MOBILE CAR DETAILING
    1300 35 65 95
    0406 427 269
    antony@autoshine.com.au
    www.autoshine.com.au
    GIFT VOUCHERS AND CLUB DISCOUNTS AVAILABLE**

  16. #16

    Default

    Quote Originally Posted by tomo89aus View Post
    2005 MPS6 Leather Pack in Titanium Grey. 75,000kms. Got it for $27k down in ACT (I live near Newcastle). I researched on the forums before I took it for a test drive and immediately picked up that it needed a new rear engine mount and the rear diff bolts were loose. The clutch wasn't that great either...I stalled it twice! Never stalled my SP23 before EVER.

    Anyway I got $1700 off the asking price and was assured the engine mount and diff bolts would be sorted out. Not that it matters overly because in ACT car dealers have to provide a 3 month statuatory warranty anyway.

    It's a bloody quick car though, I hit boost at 3000rpm and nearly shat myself not expecting it to propell me like it did (never driven a turboed car before).

    Unfortunately I can't pick her up until my SP23 is sold and the lease is paid out so the next week or two is gonna drag on and I'm desperate to sell.
    Glad to see you made your way overe here

    Im 20 aswell and im with NRMA so what you quoted is what i pay

    Will change after this year i think unless it goes down dramatically !
    マツダスピード


  17. Default

    Why so uptight guys. Of course my car is registered under my parents name. I am actually a Law student so I know the mess I am potentially getting myself into, HOWEVER I know for a fact that I will be covered otherwise I could potentially have a very good court case against AAMI which I will be almost guaranteed to win. Once insurance court case goes to the actual independent tribunal (Not the stupid pathetic tribunal within the actual insurance company), they almost always lose out. My method does work and has worked for the past 3-4 years I have obtained my licence.

  18. #18
    Join Date
    Dec 2008
    Location
    Coorparoo, Brisbane
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    43
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    3,771

    Default

    Good for you mate.

    Just pray you never have a claim, and good luck with your defence costs in the event of such.

    As I've eluded to above, having worked in the industry for 8 years... I think I have a pretty good idea how things work

  19. #19

    Default

    Dan aka Insurance Sensi

  20. #20

    Default

    Good to see the faculty of law is still upholding the highest standards of ethics.

    And when the insurance investigator presents evidence to the court that you have driven the car more than the prescribed number of times for a casual driver (and possibly also a copy of your above post which is now public domain) you can come back here and tell us how effective your theory was in voiding your policy, having your claim denied and getting yourself a conviction for fraud.

    Law student verses experienced fraud investigator: I'd like to see that.

    Gone to Volvo


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