Insurance Policy Options

[PENUT]

Hey guys, which option would you choose for insurance? Gotta weigh it up and decide

2112.70 (1025 excess)
1964 (1150 excess)
1795 (1400 excess)
1584 (1900 excess)
1373 (2400 excess)

Im thinking one of the bolded ones, as from the lowest excess its a saving of $317 for a $375 increase which seems worth it.

[plAythiNG]

How often r u going to make a claim?

This is my 4th renewal. Have chosen highest excess and paid the lowest premium. Saved $4k now and yet to make a claim

[PENUT]

How often r u going to make a claim?

This is my 4th renewal. Have chosen highest excess and paid the lowest premium. Saved $4k now and yet to make a claim

Chances of having a crash at fault is quite low but i cant rule out parked hit n runs or other things, which makes me think twice about the 400-1000 tradeoff

[Norm]

PENUT, I think its difficult to measure this to cost-benefit ratio. Really, you need to understand what your car is used for, whether it be parked occasional weekend use or you use it daily. Also, depending on your financial circumstances as to whether you can value an excess of $2400 to be affordable in the event of an accident. No one here can recommend an option to suit you because none of these people on this forum know your circumstances.

[knobosaurus]

Norm is right here. It really boils down to how much you're prepared to risk to save money on yearly premiums. Alex is saving a lot with his premiums but some people like me want peace off mind just in case. Hence, lower excess for higher renewals

[plAythiNG]

Chances of having a crash at fault is quite low but i cant rule out parked hit n runs or other things, which makes me think twice about the 400-1000 tradeoff

car park hit and runs, imo the majority of these type of hit and runs the impact will be quite minimal, i doubt it would cost $1k in repairs? Furthermore i would rahter do it privately then make a claim as that will result in high premiums moving forward.

[plAythiNG]

half the cars on here are barely driven, silly for anyone to have standard excess.... bump that shit up and use them savings on mods!

nah on a serious note, Norm brings up valid points, determine how well and cautious of a driver you are, how often you drive your car would be the two points that will derive my decision of determining the excess. My car will now be driven every single day of the year, but I will still keep the excess at tis highest, history shows I've saved $4k alone in premiusm so even if I do fork out $2xxx in excess I am still better off from day one.....

[JupiteR]

pay the highest excess if your a safe driver =)
like me =)

[PENUT]

Thanks for the opinions guys. A few things mentioned that I didn't think about before.

The car is daily driven and often parked in areas open to bump n grinds such as university carpark or shopping centres. I guess thats the main thing worrying me is hit n run but going through insurance probably wouldn't be worth it anyway.