Insurance for 2024 S650 Mustang

[5.0ALM]

I renewed with APIA, and the premium actually went down!
$955 last year > $915 this year
Insured agreed value fell from $89k to $87k.

Only compromise here is that replacement glass is not OEM.
I'm not convinced this is a genuine issue and whether S650 aftermarket windscreens are even available in our small market to begin with.

I did try one broker (New Age Insurance Brokers) last year, and was not that impressed with the $2,391 quote.

Renewing my 2016 RAV4 recently with APIA was another matter.
That went up 35%, so I switched to Budget Direct, along with my home & contents.

With Budget Direct the common-as-dogs-balls 4cyl RAV4 is a bit more expensive than the Mustang.
With APIA the common-as-dogs-balls 4cyl RAV4 was a lot more expensive than the Mustang.
Go figure!

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[DFB5.0]

consider a broker

Shopping around online only shows you retail offerings

I had a home insurance claim and it was painful - I learned from a friend that a broker can manage the claim from end to end. I went to the recommended broker for home insurance and it was cheaper

all my insurance is now brokered and I validate the offers through my own search

I've had this go both ways.

In the past, I used a broker for my work vehicle, which was also tied up with my business insurance. Having them sort both out was very much a connivence. Brokers know the connivence factor and very much rely on you being too busy or lazy to compare things for yourself.

At one point, the brokers price for my work vehicle was about $200 - $300 more expensive than what I could get out of RACV. They seemed shocked when I informed them of that, but they could do no better. In this case, the added time on my behalf saved me several hundred dollars for a virtually identical policy.

Certainly try a broker, but you may not be getting the cheapest price.

 

[DFB5.0]

Will check them out.

It just annoy me that their default position is to take the piss and wait for their customer to call out their BS.

Same here. I noticed the massive increase in premiums after the 2022 floods in my area....................despite my place of residence not being in a flood zone.

With Enthusiast, they will allow you to nominate a milage cap, the major insurance companies don't really account for that, so you end up paying a full premium for a car that sits in a garage 95% of the time.

 

[Frostee]

Read the Policy and be clear you’re comparing like to like.

the rubber hits the road when you make a claim. There can be false comfort from a premium paid.

 

[DFB5.0]

Read the Policy and be clear you’re comparing like to like.

the rubber hits the road when you make a claim. There can be false comfort from a premium paid.

100%. I'm a neurotic when it comes to comparing just about anything in life, the same applies to reviewing insurance policies.

What I've found with the insurance industry, there is often no rhyme or reason for policy premiums. Sometimes they come back and you go wow, that's not bad at all, take my money. Then you have policies that go up by several hundred dollars for no reason at all.

For the longest time, Shannons were the go-to for enthusiast cars, I had several policies with them. They built the brand, gained an audience, then they went in for the kill and upped the prices. Even with a few cars, the multi-vehicle thing was virtually nil, so I cancelled and moved elsewhere.

RACV sucked me in with cheap policies for a few years, again I had several policies with them. Then they hiked the prices. Because the RACV is wrapped up in a card system, they rely on people paying the additional premium to keep that gold, bronze or silver card statis and discounts by showing the card in certain businesses.

What I'm saying is, you can't really blanket statement car insurance. Be that brands, brokers, car type, driver gender, previous penalties. You kinda have to approach it differently each year, even if you have a broker apparently acting in your best interests.

 

[Brisvegas]

I renewed with APIA, and the premium actually went down!
$955 last year > $915 this year
Insured agreed value fell from $89k to $87k.

Only compromise here is that replacement glass is not OEM.
I'm not convinced this is a genuine issue and whether S650 aftermarket windscreens are even available in our small market to begin with.

I did try one broker (New Age Insurance Brokers) last year, and was not that impressed with the $2,391 quote.

Renewing my 2016 RAV4 recently with APIA was another matter.
That went up 35%, so I switched to Budget Direct, along with my home & contents.

With Budget Direct the common-as-dogs-balls 4cyl RAV4 is a bit more expensive than the Mustang.
With APIA the common-as-dogs-balls 4cyl RAV4 was a lot more expensive than the Mustang.
Go figure!

You should be getting new car replacement first 2 years so agreed value should be a moot point at this stage , Thats a great premium but insurance cannot be valued until you make a claim in reality .

 

[N1T3MRE]

Stayed with Suncorp, did a ring around and price comparison with Shannons and Enthusiasts......but still $700-$1000 more - suncorp only put premiums up by $75 for the year...Youi said they would beat, but better T's and C's with Suncorp

 

[Deano1978]

Will check them out.

It just annoy me that their default position is to take the piss and wait for their customer to call out their BS.

Ok so I rang NRMA to see why they bumped my premium 60% in one go and got all the BS excuses about car being older, availability of parts etc...they wouldn't lower it, the rep just tried to carve out options or sell multi policy discounts (yeah right!!) but even then I barely put a dent in what they wanted - so screw them I cancelled.

I got a quote from Budget Direct for essentially the same policy (new for old for 2 yrs, choice of repairer, glass etc...) and it was cheaper than what I was paying last year including adding my Mrs to the policy. Now paying $140 per month instead of $180 and much less than the $288 NRMA wanted to screw me for.

Thanks for the advice peeps.

 

[LouG]

Most of our insurance co's are Aussie based, like everything. I'm paying $1347 kiwi pesos pa for the Mustang, we paid $93,000 for. Our '23 Skoda Kamiq is worth $40,000 and is the same premium.
I helped a mate from the South Island get a '22 Suzuki Jimny locally for $22,000 and he pays the same. No claims for any of us.
It seems $1300 is starting point for late model cars here.
No rhyme or reason.

 

[bfets]

I just tried NRMA, but it came to $2800 per year. Crazy.

Just ended up renewing with Enthusiast for roughly $1400 per year. This is for an agreed value 130k on the Dark Horse.

 

[Brisvegas]

I just tried NRMA, but it came to $2800 per year. Crazy.

Just ended up renewing with Enthusiast for roughly $1400 per year. This is for an agreed value 130k on the Dark Horse.

NRMA now have overseas call centres , when my Insurance comes up for renewal i am changing . NRMA is pretty crap to deal with , when i first signed up to them in '23 it was all australian based , not so much anymore . Process of finding an Insurer with all Australian support systems begins . I will never deal with a company that doesnt have Australian call centres again .

 

[5.0ALM]

NRMA now have overseas call centres , when my Insurance comes up for renewal i am changing . NRMA is pretty crap to deal with , when i first signed up to them in '23 it was all australian based , not so much anymore . Process of finding an Insurer with all Australian support systems begins . I will never deal with a company that doesnt have Australian call centres again .

Try dealing with TPG!
Phillipino call center and it's difficult to understand what they are saying half the time.
Can't even manage my TPG account online because of a website error that never sends the verification SMS to enable you to log in.
In the process of changing providers.

It should be legislated that Aussie companies must have their call centers here, not in some offshore sh1thole.

And I'm sick of getting the "We're experiencing a high volume of calls" BS at what would be considered quiet times outside of 06:00 - 20:00.
It's a lame excuse to have less people manning call centers.



[/rant]

 

[PKs]

Try dealing with TPG!
Phillipino call center and it's difficult to understand what they are saying half the time.
Can't even manage my TPG account online because of a website error that never sends the verification SMS to enable you to log in.
In the process of changing providers.

It should be legislated that Aussie companies must have their call centers here, not in some offshore sh1thole.

And I'm sick of getting the "We're experiencing a high volume of calls" BS at what would be considered quiet times outside of 06:00 - 20:00.
It's a lame excuse to have less people manning call centers.



[/rant]

Starlink is so good that you may never have the need to contact a call centre.

 

[Westphal]

The insurance for ours is about $1500/year through State Farm. We have our house and multiple vehicles insured through them, so we get a discount for that, plus clean driving records for everyone.

 

[Deano1978]

Most of our insurance co's are Aussie based, like everything. I'm paying $1347 kiwi pesos pa for the Mustang, we paid $93,000 for. Our '23 Skoda Kamiq is worth $40,000 and is the same premium.
I helped a mate from the South Island get a '22 Suzuki Jimny locally for $22,000 and he pays the same. No claims for any of us.
It seems $1300 is starting point for late model cars here.
No rhyme or reason.

Yeah it's weird cause the Stang is only $20/month more expensive to insure than the 2009 Accord Euro it replaced (with no extras on the policy as well).

Like most things, there's plenty of "choice" in the market but only 2 or 3 corporations running them in reality

Insurance in itself is a scam - until something happens!

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