Vehicle Insurance

[anski]

In Australia it is completely different & on my opinion a far better way of doing things.

Firstly I was amazed at how cheap it was to register a car when I first arrived it was less than $200 a year compared to Australia where it cost Au$600

So the procedure is in Australia 12 months you go for a vehicle inspection & if it passes all safety checks & rust etc you get a Pink Slip which is similar to the WOF (Warrant of Fitness here)

Then you have to go & buy a Green Slip from a choice of insurance companies & the cost varies from State to State etc. The green slip is compulsory & costs in the region of Au$400 or more.
The Green slip covers yourself & others for personal injury.
After that you buy car insurance which covers damage to the other persons vehicle only in the case of 3rd Party insurance, or cover for your vehicle & the other persons vehicle damage.

Once you have all this paperwork in place then you go to the Dept of Motor Transport & buy your registration 9which enables you to drive the car on the road for the next 12 months) However they do a computer check to see if there are any outstanding fines & if o you have to pay these in FULL before they issue your vehicle registration.

I am not saying people drive & avoid all these costs because a few do but if caught they face hefty penalties.
Before this fines check came in a friend of mine had a very embarrassing situation, she was a model & had moved in with a wealthy business she was hoping to marry, one day when her OH was out the police came around because of her huge amount of outstanding fines. They made her go with them to the Police Station & along the way (not sure how but she got the $2,000) she picked up the money which she was able to pay the outstanding fines at the Police Station & evade arrest!

So when I arrived in NZ I was shocked that AAC is covered in the low registration cost & in spite of that the number of drivers that do not take responsibility for their negligence.

I have just had a quote for car insurance and it is over £100 dearer than in the UK.

We are bringing ours over, same drivers as in the UK plus we specified no-one under 25 would be allowed to drive. $600. 52 cents.

AA who did the quote said it is an extra $100 for driving on a UK Driving Licence as stats show
we are more likely to have a bump ( more likely to get hit buy someone uninsured)

State wanted ne to get it valued before insuring it at my own cost. rofl

[pookienuffnuff]

Originally Posted by Higgy

I have just had a quote for car insurance and it is over £100 dearer than in the UK.

We are bringing ours over, same drivers as in the UK plus we specified no-one under 25 would be allowed to drive. $600. 52 cents.

AA who did the quote said it is an extra $100 for driving on a UK Driving Licence as stats show
we are more likely to have a bump ( more likely to get hit buy someone uninsured)

State wanted ne to get it valued before insuring it at my own cost. rofl

The AA didnt charge me extra for having UK licence but the excess was higher 'for non NZ licence holders'. Then I noticed that this had been amended (so I wondered if they had been told they couldnt do that). But my insurance is definately cheaper (am with AA). Perhaps you are moving from a 'safe' postcode in UK to a less safe one in NZ eg moving from countryside in UK to Auckland would do that.
Or as the cars are non standard imports (I had a grey import in UK and used to get stung by insurers as it wasnt 'on their list').

But its easy to get NZ licence...I traded mine in (still get to keep UK one so can use elsewhere). Small fee, eye test...that it. As UK test similar to NZ so no need to be tested.

ps perhaps this should be moved to a different thread 'car insurance'?

[escapedtonz]

Originally Posted by pookienuffnuff

The AA didnt charge me extra for having UK licence but the excess was higher 'for non NZ licence holders'. Then I noticed that this had been amended (so I wondered if they had been told they couldnt do that). But my insurance is definately cheaper (am with AA). Perhaps you are moving from a 'safe' postcode in UK to a less safe one in NZ eg moving from countryside in UK to Auckland would do that.
Or as the cars are non standard imports (I had a grey import in UK and used to get stung by insurers as it wasnt 'on their list').

But its easy to get NZ licence...I traded mine in (still get to keep UK one so can use elsewhere). Small fee, eye test...that it. As UK test similar to NZ so no need to be tested.

ps perhaps this should be moved to a different thread 'car insurance'?

Yeah car insurance definitely cheaper here & in my experience at least 50%.

I was paying £600 comprehensive in the UK for me & the wife with £0 excess on a 2005 Seat Toledo 2.0TDi DSG 140bhp worth £4k both with clean UK licenses.
Now I'm here in Wellington I have a 2006 Subaru Legacy 3.0ltr R spec B with SI Tiptronic 250bhp worth $20000 still comprehensive for both of us $0 excess and our premium $550 and we are insured on our UK licenses even tho we've now got the NZ licenses also.
So as I say half the price for a car that's worth more, more powerful and is high on the list of car crime and that's with Tower Insurance.
Was originally with ANZ bank car insurance but for the same car and same details it was $575 and with a $500 excess so that policy cancelled within the 30 days cooling off period.
AA quote was well over $600 and with a high excess if I remember correctly.
Never understood where insurance companies come up with their premiums. There just doesn't seem to be any consistency.

[Song_Si]

Originally Posted by escapedtonz

Never understood where insurance companies come up with their premiums. There just doesn't seem to be any consistency.

Good question! but does highlight how worthwhile it can be 'shopping around' the different companies, also consider some offer extra discounts if you have more than one policy with them eg home, or contents, plus vehicle insurance.

I had motorbikes - always full cover - some companies simply would not insure under any circumstances (mention Harley and they hang up!), some had such extreme premium/excess deals, I settled on one company and stayed with them over 15yrs. The ideal customer for them with just one vehicle claim in that time, and they recovered that from other party.

Other things to consider in the policy - glass/windscreen coverage is important imo, having had two cracked windscreens both replaced at no cost and no excess or premium increase; also see if they cover loss or theft of car keys - may seem minor but replacing ignition/keys is expensive. The fine print!

[Song_Si]

insurance again - found this site which gives some comparisons/examples showing different cars/values and the premiums/excess that apply; of interest is how the premium varies by location, eg their first example of a Toyota Corolla valued at $12,000, garaged. no alarm, full No-Claims-Bonus, owned by couple over 65 years.

They're just examples, with many variables, but does highlight the differences, eg

lowest being with Tower in Dunedin - $174.34, highest $706.21 with Ansvar for Browns Bay, Auckland.

[YoungsSpecialLondon]

Possibly part of the reason why car insurance isn't compulsory in NZ is because ACC already provides cover for personal injury. In most countries you can sue a person who accidentally drives over your leg, and car insurance policies cover this. In NZ, the victim gets ACC. The quid pro quo is that the victim can't sue the perpetrator.

[topcat83]

Originally Posted by YoungsSpecialLondon

Possibly part of the reason why car insurance isn't compulsory in NZ is because ACC already provides cover for personal injury. In most countries you can sue a person who accidentally drives over your leg, and car insurance policies cover this. In NZ, the victim gets ACC. The quid pro quo is that the victim can't sue the perpetrator.

Yes that's the thinking. So in theory if you are injured then you are covered in all circumstances.
But that doesn't cover the vehicle.
Many people in the past have said 'but my vehicle isn't worth insuring'. They forget that if the accident is their fault then they are liable for the damage to the other vehicle. Many have ended up with huge bills that they can't afford to pay.
I think that third party insurance as a minimum should be compulsory, so that I know that if I am hit by another car I won't be fighting for my money.