Insurance for 2024 S650 Mustang

[N1T3MRE]

Hey guys,

Just starting to do homework on comprehensive insurance, anyone have recommendations?

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[roadpilot]

There is no one single best insurance company, nor is the same insurance company the best for where you live and drive.

 

[Coosawjack]

Is Grundy Worldwide??

 

[Valiant]

Insured mine through Suncorp $1600 a year. $2100 excess, GC QLD

 

[Frostee]

GT $2050 premium $1640 excess. Declared value, new car replacement for 3 years with less than 60,000km, choice of repairer, no excess for windscreen, rental car if car off the road for repairs, original parts for repairs.

This is with Allianz in Melbourne.

The devil is in the detail. My last car (S550) earlier this year has a windscreen crack - great I thought I paid the AAMI windscreen cover. Turned up for the repair and was told that I’d be getting a after market windscreen - and that was noticeable because there’d be no Ford emblem on the top centre - I declined and elected to re-book for OEM glass.

Cost was about $1800 which when checking with dealer was replacement cost of the part. So much for paying the difference between aftermarket and OEM.

I have since done my insurance through a broker and here’s what he had to say about my experience with AAMI

“Regarding windscreen cover, we see this all the time with direct market provides (AAMI, Budget direct, RACV using after market parts). The broker products all come with genuine parts on repairs – including windscreen. Windscreen can be arranged via Allianz partner (O’Brien glass) or your own repairer & costs will be re-imbursed to the client.”

Using a broker too means they manage all the claims and there’s real value in that.

After I confirmed my Allianz Policy I decided to do an online quote with AAMI with same excess and for Market Value (vs declared value) and all the exclusions of OEM parts and rental car and new for old replacement it was $500 more

Sorry for the long message but wanted to share my story

Lessons learned

- not all policies are the same so you can’t just compare on price of the policy if you don’t compare what you’re getting it you claim

- ask questions about OEM parts, choice of repairer, rental car etc. it’s too late if you ask that when you claim

- there’s different insurance product out there for consumers vs brokers. I honestly think that consumer policies are taking the piss from people like me who didn’t know how it all works

- that going though a broker doesn’t mean more expense and they’re not going to offer policies that are difficult to navigate when claiming

- that a broker manages the claims process for you.

Hope this is helpful

Good luck!

 

[N1T3MRE]

GT $2050 premium $1640 excess. Declared value, new car replacement for 3 years with less than 60,000km, choice of repairer, no excess for windscreen, rental car if car off the road for repairs, original parts for repairs.

This is with Allianz in Melbourne.

The devil is in the detail. My last car (S550) earlier this year has a windscreen crack - great I thought I paid the AAMI windscreen cover. Turned up for the repair and was told that I’d be getting a after market windscreen - and that was noticeable because there’d be no Ford emblem on the top centre - I declined and elected to re-book for OEM glass.

Cost was about $1800 which when checking with dealer was replacement cost of the part. So much for paying the difference between aftermarket and OEM.

I have since done my insurance through a broker and here’s what he had to say about my experience with AAMI

“Regarding windscreen cover, we see this all the time with direct market provides (AAMI, Budget direct, RACV using after market parts). The broker products all come with genuine parts on repairs – including windscreen. Windscreen can be arranged via Allianz partner (O’Brien glass) or your own repairer & costs will be re-imbursed to the client.”

Using a broker too means they manage all the claims and there’s real value in that.

After I confirmed my Allianz Policy I decided to do an online quote with AAMI with same excess and for Market Value (vs declared value) and all the exclusions of OEM parts and rental car and new for old replacement it was $500 more

Sorry for the long message but wanted to share my story

Lessons learned

- not all policies are the same so you can’t just compare on price of the policy if you don’t compare what you’re getting it you claim

- ask questions about OEM parts, choice of repairer, rental car etc. it’s too late if you ask that when you claim

- there’s different insurance product out there for consumers vs brokers. I honestly think that consumer policies are taking the piss from people like me who didn’t know how it all works

- that going though a broker doesn’t mean more expense and they’re not going to offer policies that are difficult to navigate when claiming

- that a broker manages the claims process for you.

Hope this is helpful

Good luck!

Very helpful, done a bit of homework this tour off.....went with Suncorp comprehensive plus, with my circumstances, got it for $1950, got caught with windscreen once before in a lease car....got to be careful now with all the gadgets up front as well.....glass just ain't glass

 

[Deano1978]

I've just started looking around for my GT, so far have only checked Budget Direct.

Premium = $1850 with $1100 excess, windscreen cover, choice of repairer and agreed value.

The policy only has new car replacement at 2 yrs or 40,000km though.

Got a spreadsheet going to compare prices, once I get few more I might post results - however not sure it'll be of much value to anyone, premiums can be a scatter gun depending on the options you choose and what your postcode/age is

 

[DFB5.0]

I've just started looking around for my GT, so far have only checked Budget Direct.

Premium = $1850 with $1100 excess, windscreen cover, choice of repairer and agreed value.

The policy only has new car replacement at 2 yrs or 40,000km though.

Got a spreadsheet going to compare prices, once I get few more I might post results - however not sure it'll be of much value to anyone, premiums can be a scatter gun depending on the options you choose and what your postcode/age is

I've been coming up with $1500 to $2400 depending on the company. This compares to under $1000 for my S550 GT. Granted, the S650 is worth more than twice what my S550 is currently valued at.

 

[Frostee]

Might be helpful

https://www.drive.com.au/caradvice/why-has-car-insurance-gone-up-so-much/

 

[5.0ALM]

Lots of variable involved, so how long is a piece of string?

My piece of string goes like this:

I already have two polices with APIA, home & contents and comprehensive on the current daily RAV4.
Out of curiosity I just did an online quote with them for a MY24.50 FO GT Mustang.

Garaged, no peak hour use, <5,000km per year, no finance, no hire car option...

Peak hour use is defined as:
Is the car driven three or more weekdays, on average, between the following peak times?
7:30am-9:30am and/or 3pm-6:30pm

Default insured value was a ridiculously low $77k.

Changing insured value to an agreed $90k, selecting $700 excess, annual premium = $871 for the manual.
Changing this to an auto = $986 annually.
Another good reason for choosing the 6-speed!

Checking the APIA PDS we discover:

If the only windscreen difference boils down to a Ford logo, it becomes a difficult choice to justify a significantly higher policy. Any other insights we should know about?

If you're over 50, I'd suggest getting a quote with APIA for comparison purposes.

Previously with Budget Direct, and come renewal time when I called them, the woman on the phone was stunned when I told her APIA is cheaper like-for-like.
She couldn't believe it!!!
Priceless.

I switched to APIA 2 years ago after reading about insurers on the 6G forum.
https://www.mustang6g.com/forums/threads/mustang-gt-insurance-companies.181612/
It was @Stevefreestyle who sowed this APIA seed. Thank you.

Having said all that, I'm sold on the idea of exploring what brokers can offer.

As always, shop around, and avoid the "lazy tax".

 

[Deano1978]

Thanks ALM,

The thing I noticed most when running through policy options (albeit only one provider so far) was the significant premium jumps if you go for agreed value over market value, and choice of repairer.

I'm with Youi for my current daily and H&C but haven't checked them yet - was just looking for an easy "around about" price to factor into my budgeting as it'll affect what options I choose for the finance side of things.

 

[N1T3MRE]

Lots of variable involved, so how long is a piece of string?

My piece of string goes like this:

I already have two polices with APIA, home & contents and comprehensive on the current daily RAV4.
Out of curiosity I just did an online quote with them for a MY24.50 FO GT Mustang.

Garaged, no peak hour use, <5,000km per year, no finance, no hire car option...

Peak hour use is defined as:
Is the car driven three or more weekdays, on average, between the following peak times?
7:30am-9:30am and/or 3pm-6:30pm

Default insured value was a ridiculously low $77k.

Changing insured value to an agreed $90k, selecting $700 excess, annual premium = $871 for the manual.
Changing this to an auto = $986 annually.
Another good reason for choosing the 6-speed!

Checking the APIA PDS we discover:

If the only windscreen difference boils down to a Ford logo, it becomes a difficult choice to justify a significantly higher policy. Any other insights we should know about?

If you're over 50, I'd suggest getting a quote with APIA for comparison purposes.

Previously with Budget Direct, and come renewal time when I called them, the woman on the phone was stunned when I told her APIA is cheaper like-for-like.
She couldn't believe it!!!
Priceless.

I switched to APIA 2 years ago after reading about insurers on the 6G forum.
https://www.mustang6g.com/forums/threads/mustang-gt-insurance-companies.181612/
It was @Stevefreestyle who sowed this APIA seed. Thank you.

Having said all that, I'm sold on the idea of exploring what brokers can offer.

As always, shop around, and avoid the "lazy tax".

Got a couple years before the 5 0.....but already got bookmarked to checkout when I do....living where I do increased the price as well

 

[5.0ALM]

The thing I noticed most when running through policy options (albeit only one provider so far) was the significant premium jumps if you go for agreed value over market value, and choice of repairer.

Got the email today that my GT is at their pre-delivery center!

I'm trying to determine what value, if any, having your own choice of repairer really is.
And is it worth the premium bump.

To be honest, if the vehicle needed assessing, I'm unlikely to be wasting countless hours/days visiting various repair centers. And that assumes it's driveable.

The last time I had a vehicle assessed (my '98 Mitsubishi Delica) the repair center was absolutely massive. I have never seen so many cars in one area outside of a shopping center etc. It was one of the AMA Group with no less than 140 centers across Australia. I'm sure they get volume pricing on everything.

I'm not sure how the local independent repairers can compete.
It seems to me they would be the ones cutting corners elsewhere?

So, if you could choose, how do you assess repairers?
Google reviews?

 

[Frostee]

Don’t just look at choice of repairer but also whether they will use OEM parts.

I got burned by AAMI with a windscreen. That left a bad taste so I’ve gone choice of repairer and OEam parts and purchased the policy through a broker and it ended up cheaper than my last policy with AAMI

There are products out there from brokers not available at retail, so consider consulting a broker.

 

[5.0ALM]

I've been going around in circles looking at Brokers' websites.
Most of them are vague as and offer little detail.
Will persevere tomorrow down that path.


Moving on...

Shannons has been ruled out, even before I'd request a quote.
See that "if".

Read as: "only if your chosen repairer's quote is cheaper than our repairer"?

And the windscreen thing.

Now to point to the obvious.

https://www.ford.com.au/owners/insurance/

I don't know where these default values are coming from, but like with APIA, value is at $77k.

Changed that later to $90k.

Long story, short.
Ouch!

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