Anthony Albanese - How long? -2-

[SaintsSeptember]

That depends on your position on the food chain. Many don't own valuable enough cars, furniture etc to worry about insurance. Insurance is good for peace of mind but for week to week living it's not a priority.

Third party insurance? See my post above. Hit the wrong car and you are screwed. Their insurance will pay for their damage, but the insurance co will want to get that money off you and they have years to do it.
If you have a mortgage , insurance is compulsory.

 

[evolved2]

That depends on your position on the food chain. Many don't own valuable enough cars, furniture etc to worry about insurance. Insurance is good for peace of mind but for week to week living it's not a priority.

You're flirting with danger if you don't have 3rd party insurance at a minimum.

 

[evolved2]

Correct.

Knew a guy who got caught in the middle of a pileup on the freeway while he was a student. Apparently in those cases everyone sues everyone behind them or something.
He went to the free legal advisers at his Uni, and they basically said, "accept guilty, tell them you've got no money and no insurance ". It worked for a while.

Many years later ( i think the statute might be around 6 years ), he had a job and was saving for a wedding and a house.
Suddenly he gets this bill, and it wasn't chicken feed.

My thoughts are that accident damage claims should be capped.
IE : You can drive a million dollar car, but if someone else hits you, you don't get more than $200 000.
The road is a dangerous place. Accidents happen on the road daily.
If you want to risk a million dollars in a dangerous place, the risk is yours.

Don't agree with that at all. Someone with a $1 million car shouldn't be out of pocket just because a poor guy hit them. If there's a market for insurance of expensive cars and insurers are willing to provide cover, why should the government interfere?

Third party insurance should be law. If you can't afford it, don't drive.

 

[skipper kelly]

You're flirting with danger if you don't have 3rd party insurance at a minimum.

Isn't that on your rego?

If you are living true week to week (ie Completely broke before pay day, pay day loans, hocking stuff at cash converters etc) then insurance is not a priority.

 

[Gralin]

Isn't that on your rego?

If you are living true week to week (ie Completely broke before pay day, pay day loans, hocking stuff at cash converters etc) then insurance is not a priority.

Depends on the state you live in

 

[skipper kelly]

Third party insurance? See my post above. Hit the wrong car and you are screwed. Their insurance will pay for their damage, but the insurance co will want to get that money off you and they have years to do it.
If you have a mortgage , insurance is compulsory.

Having a mortgage is probably not the week to week living I am referring to. But yes a mortgage does require insurance.

 

[Sttew]

Correct.

Knew a guy who got caught in the middle of a pileup on the freeway while he was a student. Apparently in those cases everyone sues everyone behind them or something.
He went to the free legal advisers at his Uni, and they basically said, "accept guilty, tell them you've got no money and no insurance ". It worked for a while.

Many years later ( i think the statute might be around 6 years ), he had a job and was saving for a wedding and a house.
Suddenly he gets this bill, and it wasn't chicken feed.

My thoughts are that accident damage claims should be capped.
IE : You can drive a million dollar car, but if someone else hits you, you don't get more than $200 000.
The road is a dangerous place. Accidents happen on the road daily.
If you want to risk a million dollars in a dangerous place, the risk is yours.

Can't agree with that, unless the person driving the $1M car is stupid enough to limit cover to $200K. The whole idea behind insurance is to put you back in the same position you were pre-loss, within reason.

General Damages (pain & suffering) claims for public liability are supposed to be capped in all states.

 

[evolved2]

Isn't that on your rego?

If you are living true week to week (ie Completely broke before pay day, pay day loans, hocking stuff at cash converters etc) then insurance is not a priority.

The CTP you pay with rego covers injury claims/TAC, not damage to property.

 

[skipper kelly]

Depends on the state you live in

Qld? I should check. Yeah google tells me that QLD has CTP in the registration.

 

[Gralin]

Qld? I should check. Yeah google tells me that QLD has CTP in the registration.

Check what it covers
In Victoria its about liability in death and serious injury

Eg TAC claims

Doesn't cover damage to other vehicles

 

[skipper kelly]

The CTP you pay with rego covers injury claims/TAC, not damage to property.

Cheers

Driving the 23 yo AU Falcon and having a regular parking spot at the local cash convertors probably excludes many in my area from caring about full insurance.

 

[Chief]

Qld? I should check. Yeah google tells me that QLD has CTP in the registration.

I believe that is just physical injury to the third party? Or is it property and injury?

 

[skipper kelly]

Check what it covers
In Victoria its about liability in death and serious injury

Eg TAC claims

Doesn't cover damage to other vehicles

Cheers. I never really thought about it but probably should look into it for my wife. I don't drive anymore.

 

[skipper kelly]

I believe that is just physical injury to the third party? Or is it property and injury?

I don't know. That is my afternoon assignment to find out.

 

[skipper kelly]

Everyone is correct. In Queensland ....

"CTP insurance is designed to cover the cost of compensation claims if you kill or injure someone in a car accident.

CTP insurance does not cover you for damage to your vehicle, damage to other people’s vehicle, damage to property or theft."

https://www.canstar.com.au/car-insurance/queensland-ctp-insurance/#what-does-ctp-insurance-cover-in-qld?

Seriously how good is the internet. Just like that..

 

[Chief]

Now you can go out killing!

 

[nut]

Who can afford NOT to insure? It's a necessary evil.

It’s weird … I’m in NSW and rang NRMA to ask why green slip had gone up $50 to $398 …out of their hands they said, gov sets the price. Rang Allianze .. $310.
$88 difference for third party… thieves.

 

[SaintsSeptember]

Don't agree with that at all. Someone with a $1 million car shouldn't be out of pocket just because a poor guy hit them. If there's a market for insurance of expensive cars and insurers are willing to provide cover, why should the government interfere?

Third party insurance should be law. If you can't afford it, don't drive.

It means that insurance is more expensive for everyone.
If you are struggling to afford third party insurance for your old bomb, the insurance company allows for the fact that you might run up the back of a Lambogatararri. That makes insurance for the bomb more expensive.
EVERYONE struggling with the cost of living is paying more for insurance because of these overprced ornaments.

What i'm saying is that if Daewoo , accidentally totals priceless Ferrari. Daewoo's insurer only has to pay out $200 000( or whatever ), and that Ferrari drivers insurance covers the rest.
It will make Ferrari driver's insurance more expensive and all the normal people cheaper. Who cares, he can afford it.

Don't drive? This is Australia, pubic transport sucks. It takes me 2 hours on public transport for a half hour car trip to work. I can do it by bike ( and have ) in under an hour. Its not that i live somewhere weird, its how it is. Public transport only works well for people living in the corridor, or working in the city.

Thanks for coming up with a way of making living more expensive for normal people , while also making sure that Mr Moneybags gets the back of his Ferarri fixed for free after he slams his foot on the brake for a duck.
What do you think about tax cuts for Millionaires?

 

[Demonic Ascent]

I've said it before but why would you vote for someone who won't tell you what they'll do in government? Doesn't sound very clever to me.

Because governments don't get voted in, they get voted out.

 

[Nuggs Bunny]

If you can't afford third party damage insurance, you can't afford to drive.

Shame that most of the poorest suburbs in Australia are also the least well served by public transport too.

 

[SaintsSeptember]

It’s weird … I’m in NSW and rang NRMA to ask why green slip had gone up $50 to $398 …out of their hands they said, gov sets the price. Rang Allianze .. $310.
$88 difference for third party… thieves.

Your car is worth less than the car you might hit. That's why its only $88 different.

 

[Kram]

You're flirting with danger if you don't have 3rd party insurance at a minimum.

No 3rd party is just idiocy.

 

[Sttew]

It means that insurance is more expensive for everyone.
If you are struggling to afford third party insurance for your old bomb, the insurance company allows for the fact that you might run up the back of a Lambogatararri. That makes insurance for the bomb more expensive.
EVERYONE struggling with the cost of living is paying more for insurance because of these overprced ornaments.

What i'm saying is that if Daewoo , accidentally totals priceless Ferrari. Daewoo's insurer only has to pay out $200 000( or whatever ), and that Ferrari drivers insurance covers the rest.
It will make Ferrari driver's insurance more expensive and all the normal people cheaper. Who cares, he can afford it.

Don't drive? This is Australia, pubic transport sucks. It takes me 2 hours on public transport for a half hour car trip to work. I can do it by bike ( and have ) in under an hour. Its not that i live somewhere weird, its how it is. Public transport only works well for people living in the corridor, or working in the city.

Thanks for coming up with a way of making living more expensive for normal people , while also making sure that Mr Moneybags gets the back of his Ferarri fixed for free after he slams his foot on the brake for a duck.
What do you think about tax cuts for Millionaires?

Your scenario is not why the price of car insurance has risen. It's got a lot more to do with the increased incidence of car thefts. It's why one of the first questions you are asked when buying car insurance is where the car is parked at night.

Insurers have already factored into the price the likelihood of a luxury expensive car being involved in an accident with your car.

Also, working out who pays comes down to whose fault it was. If Daewoo is 100% at fault tor totalling Ferrari, why should Ferrari be penalised?

We already have knock for knock agreements between insurers

 

[Syd]

How could they send out this comms, though? Do they seriously think there are a lot of people thinking "gee, aren't we thankful that our taxes and wages are in a slightly better position but our overall economic position is a lot worse off".

I guess people with savings will be laughing. In which case, why doesn't the Govt do something to balance the impacts out.

At the moment, the Haves are having more and the have-nots are having less thanks to the RBA's monetary policy, so the Govt needs to do something with fiscal policy to manage the consequences. Instead, it seems Governments want to do nothing about it. Which is just stupid.

Not necessarily, savings currently being drained by a large percentage, especially those with mortgages.

 

[nut]

Your car is worth less than the car you might hit. That's why its only $88 different.

I’m not sure what you mean.
Both companies offering third party. One was $398 up from $348… the other was $310.
Insurance companies hoping we don’t shop around.