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riceboy Regular Location: Japan Registered: December 2002	Re: a fast paseo? Fri, 07 March 2003 15:02 Alchemist yes your friend is getting ripped off. But then again as i said before it depends on where you live...living in Sydney is about the worst place in Austalia for insurance. As for good prices for a 200sx...how does $800 for a 24 yr old male rating 1 sound? That is with RACQ. As for 'using' your parents 60% NCB there really is no such thing as once you fail in your Duty of Disclosure to an insurance company legally they don't have to cover you even after you have paid your policy so you are only kidding yourself. however in the real world there are plenty of young people living under this arrangement and there are plenty that get burnt (my friend was one and he was hit with a $7000 excess for his failure, he is lucky he got paid at all). FOR ALL YOU PEOPLE OUT THERE WHO DON'T KNOW HOW INSURANCE WORKS THEN NOW IS THE TIME TO LEARN! Let's start with comprehensive insurance. How does an insurance company come up with a quote? There are 5 main factors to the equation. FIRST OF COURSE IS THE VEHICLE: What sort of vehicle is it? (sedan, coupe, 4WD etc). What are typical costs of repairs likely to be (headlights, panels, anything with 4WS is usually expensive). What is the claims history of this vehicle? (ever wondered why a WRX is so expensive, it was australia's most stolen sports car and was often crashed). Then there can be greyer vehicle factors such as how the insurance company considers the risk itself. Vehicles are rated off a point system. SECONDLY COMES THE LOCATION: This comes down to postcodes and is gathered from statisical information provided by a claims history in that postcode. I live in an over populated, high claim area so i pay through the nose, if i move 2 mins north i save about $70 a year. THIRD COMES THE DRIVER: This can be broken down into gender (yes it matters if you are a boy or a girl) and age, in many cases the high risk age limit has actually been lifted to 30yrs for males. This is again determined by statisics. Young male drivers are involved in more accidents than any other group. Don't worry though as once we all get very old males are generally cheaper than females. Driving history also plays a part in weather or not the insurance company will accept you. Traffic offences are frowned apon more than accidents believe it or not! FORTH COMES THE NCB: (No Claims Bonus or Rating) This is a percentage discount which indicates to the insurance company how good you are for insurance. In most cases it takes 5 years without a claim to achieve a rating 1 (60%) discount. Most people start on rating 6 (no discount) but people can go down as low as 9 (this is the whole premium plus another 30%). FIFTH IS VEHICLE USAGE: In most cases a vehicle is for private use. However all you part time pizza boys out there call your insurance company now! You are now using your vehicle for business use (goods carrying, less than 2 tonnes). This means alot higher premium as the risk has just increased. People like couriers, real estate agents, taxi drivers etc pay alot more insurance. There are other price determining factors such as finance (a secured loan will make your premium more expensive than an unsecured loan or unencumbered vehicle). Plus some companies will charge you more for modifications or hit you with a higher excess. I hope this helps explain the mysteries of insurance, any questions just ask. I usually get paid to explain this stuff to people but tonight it is free. [Report message to a moderator]

	Subject	Poster	Date
	Re: a fast paseo?	agnesx	Fri, 14 February 2003 02:58
	Re: a fast paseo?	rob_RA40	Fri, 14 February 2003 03:10
	Re: a fast paseo?	agnesx	Fri, 14 February 2003 03:49
	Re: a fast paseo?	Cool1	Fri, 14 February 2003 04:14
	Re: a fast paseo?	rob_RA40	Fri, 14 February 2003 04:29
	Re: a fast paseo?	agnesx	Fri, 14 February 2003 05:26
	Re: a fast paseo?	Purple_Beasty	Fri, 14 February 2003 07:40
	Re: a fast paseo?	justcallmefrank	Fri, 14 February 2003 08:41
	Re: a fast paseo?	leebroozlee	Fri, 14 February 2003 14:30
	Re: a fast paseo?	wilbo666	Fri, 14 February 2003 14:29
	Re: a fast paseo?	rvrolla	Fri, 14 February 2003 23:12
	Re: a fast paseo?	leebroozlee	Fri, 14 February 2003 23:20
	Re: a fast paseo?	rvrolla	Fri, 14 February 2003 23:27
	Re: a fast paseo?	leebroozlee	Fri, 14 February 2003 23:43
	Re: a fast paseo?	agnesx	Sat, 15 February 2003 00:52
	Re: a fast paseo?	Purple_Beasty	Sat, 15 February 2003 02:32
	Re: a fast paseo?	agnesx	Sat, 15 February 2003 10:23
	Re: a fast paseo?	Ep71-4agte	Thu, 06 March 2003 07:25
	Re: a fast paseo?	wilbo666	Sat, 15 February 2003 10:37
	Re: a fast paseo?	riceboy	Fri, 07 March 2003 13:44
	Re: a fast paseo?	SilverGhost	Mon, 14 February 2005 07:14
	Re: a fast paseo?	Alchemist	Fri, 07 March 2003 14:00
	Re: a fast paseo?	riceboy	Fri, 07 March 2003 15:02
	Re: a fast paseo?	smt_007	Sun, 13 February 2005 06:03
	Re: a fast paseo?	Mookie	Mon, 14 February 2005 03:10

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