mpgrewal

Wanted to understand one thing here, how can premium of the same car increase with time (provided interest rates don't drastically increase). Because the value of car depriciates each year (by say 10%). And insurance premium is total %age of the current value of the car. It's gotta be decreasing every year, isn't it? Are there some other factors also involved? Sorry for my lack of knowledge.

Geelong Gent

What about 12 Cylinders

perksy

De-merit points will also probably bump up the premium

mpgrewal

Assume only 30% people break laws. Still for other 70%, how can it rise every year for them.

IndieG

ABCD will be able to provide the exact statistics as to how many people break the law and pay higher insurance premiums as a result - complete with graphs/charts and explanatory notes

perksy

Are these random made-up stats? Wheres your source?

So you are saying that 70% of Australian drivers still have a clean licence?

Revenue from speeding alone is a billion dollar a year gain for the police. Thats without counting red light jumpers, non seatbelt wearing, drink / drug driving endorsements. All of which will have a bearing on your insurance premium.

I also believe your job will have a bearing on how much you pay. Ask the landlord of your pub how much he pays, you might be shocked

mpgrewal

Thanks perksy. Actually those stats are random, thats why I said "Assume" because I wanted to know what other factors can increase the premium, so I believe its de-merit points only that increase the insurance every year.

ABCDiamond

$596.10

carlap

rego in vic is $593 with a large part of that 3rd party insurance. Total rip off, does not vary with the car. If I get my own insurance I don't get the 3rd party bit back.

I am late forties and pay $750 for Nissan pulsar. This is too is high I think for full no claims. Rang around all the usual as well as the no-frills on line outfits

ABCDiamond

You won't get any of the insurance fee back, because the separate insurance you get yourself (Fully Comp etc) does NOT include CTP cover.

Victoria Motor Car registration fees
1 July 2008–30 June 2009
12 Months registration period:

• $ 89.00 Pensioner Concession on Light Motor Vehicle
• $128.00 Hybrid Motor Vehicle
• $178.00 Light Motor Vehicle

The above fee do not include compulsory third party insurance

Transport Accident Charge & Duty (CTP) appears to be:
$ 415.80 Melbourne, Victoria Postcode 3000
$ 323.40 Hamilton, Victoria Postcode 3300