Insurance Quotes: Explain how this works

[AWD Chaser]

Hi guys.

My brain has now melted after talking to NRMA and getting some quotes for insurance for the cars:

Heres the following:

2002 Ford Falcon Futura (ins for $12000) - Garaging Address - NSW (Address not revealled), 4 years driving experience, no claims, thefts, etc... No fines in the last 3 years

Quote = $83p/m

AND

2006 Kia Grand Carnival (ins for $30000) - Garaging Address (as above), 4 years driving experience, no claims, thefts, etc... No fines in the last 3 years

Quote = $85p/m

Now here's the weird part. If I choose to insure the falcon for any more the $12000, the quote starts to go up.... yet the Kia ins. for $30k would be less then the falcon.... but the Kia has more power - it has a 184kw motor as opposed to the Falcons 157kw motor (I think the dyno must be broken because my falcon has at least 800rwkw - I just know it - lol). So WTF?

The other weird one - If I choose to insure my Falcon at either the NSW address or my other ACT address, the price does not change... however, if I choose to insure the Kia at the ACT address instead of the NSW one, it will cost me an extra $200 per year? I can understand the difference if it was for both cars, but only for one? WTF?

So does NRMA have any standard in pricing or just pull figues out of nowhere?

[Disciple]

I'd say it's because the Falcon is in a higher risk category of getting stolen, and it's probably easier to steal too. Parts are easier for crims to sell off, and there's more demand for them so it's quicker for them to sell the parts.

[bathurst77]

Hoons drive falcons etc and crash em, putting them in higher risk class.
DOnt see many hoons fanging "the old carni out" for some reason

Falcons tend to do more km per year = more risk

Also doe the falc have any spoilers or mods? that tends to push prices.

[DA68ZA]

my 03 futura agreed value of $18,500 in sydney over 35 is $590 a year .

[Tealglow]

I had a new '99 WRX.

Changed over insurance from a Wrangler no extra charge ($600/yr).

Renewal time comes around - $4500!!!

:

Oh - we didn't realise it was a turbo.

Why the exorbitant increase?
GST now applies.

GST is 10%!
There is a high risk of theft for ramraids

Alice Springs doesn't have ramraids
They are expensive to repair

The base model is $20K
We don't insure turbos.

You have insured it for 12 months
We retract the quote.

I found a different insurer that also did grey imports for $1000/yr
Next year with them same story

$3000 quote
Why?
It is am imported car

: I purchased it new from a Subaru dealer
They are a high risk

Isn't that your specialty?
No

Sold the car after two years of enjoyment (except the insurance part!)

Moral of the story

Insurance companies make it up as they go along.
There is no reason!!!


A bit like Family Court (wish me luck 4 1000 Monday)