If it wasn't for the requirement on my lease I swear I would stop insuring my car. Why bother? As you can prolly tell now, I lost my case with the insurance company. "Because the truck was stationary at the time, we cannot claim damage."

 

I hear what you're saying (gotta stop hanging around with yanks!). I often feel the same way. But the fact is, leases and insurance enable us to have and use facilities we could only dream of if we had to pay cash and accept all liability ourselves. I highly doubt I could pony up the purchase price of a Honda Civic and afford to be liable for the damage it could sustain, or the damage it could cause if I didn't have leases and insurance.

I'd be getting around on a push bike with huge foam bumper bars.

 

Oh that just sucks. How much $$$ for the repairs?

 

Iggy, Insurance is for the big things. Like if your car gets stolen or if a construction crane drops a pallet of bricks on it. If you have some really big serious damage/loss you'll be glad you had insurance but for little things I agree, it's quite a nuisance.

For small things, sometimes it's better to cover the costs yourself and preserve/build your no-claim bonus. You need to get that premium down from $4000 to $1000.

 

Well my premium has dropped from 4500 to 3000 so I cancelled thje claim so that will not reflected. My excess is 1400 and my repair bill is 1700, so at another place I can get it for cash for 1400.
Once I turn 22 (5 months) my excess will come down to 1200 I think... may be even a but less.

 

I sincerely doubt that insurance will be getting any cheaper either.

 

[QUOTE]Originally posted by danprice
[B]Iggy,

 

It is all a gamble. The fact is that if we all had the balls we could easily afford to self insure.

Just do the sums. Total up your insurance payments and compare this to your insurance payouts!

 

How many times have we heard this story over the years? I know what you mean Iggy. They're bastards. There are only a few things that require insurance for me. Basically big ticket items like vehicles (only if they are expensive) and houses. For all the rest I reckon you're better off putting your money in the bank. I refuse to live my life in fear of losing something .... you know .. that 'what if' scenario that seems to pervade society these days. We have health insurance, car insurance, income insurance, public liability insurance, 3rd party insurance and on and on and on it goes. Just stop and think how much money goes into the insurance company's coffers that you never claim against and how much better off you'd be by putting it in your bank account. To top it off they then turn around and try not pay people out who have legitmate claims. They'll look for any excuse not to have to honour your claim.

 

I noticed from searching previous posts that insurance for everyone is generally too expensive.

Have you looked into "Honda Insurance" before? I guess you would've when you bought the car new.

I don't know if this will help or apply to anything, but i'm paying $947 AU a year comprehensive on a 2001 Integra Type R that was bought new off the dealer. I'm 18 years old.

How? Well apparently if you drive the car under 25% of the total kilometres travelled in the car, you don't have to be enlisted as a driver of the car, and still claim the comprehensive cover when in an accident/theft etc. (Add a cost of $400 when the car is stolen and $800 if it's written off)

Also, i think Honda Insurance is essentially Swan Insurance. I don't know if it applies to second hand Honda cars, or even non Honda cars. Hope this helps.