Banter RDT CLXXXVI - Trucko’s Salty Water

[Bender_]

I'm all in on Private simply coz I'm always hurting myself playing sport, so it's good to have.

If I had the self discipline to out money aside and not spend it like Keys mentioned I'd do that. But I'm not and it'd all be spent on blunts, big screen TV's and 40s.

 

[FKASC]

I reckon all insurance is a rort/scam. I have private basic ass hospital cover just to avoid paying the Medicare levy. Kinda works out the same payment either way. Comprehensive car insurance is a scam though. Health extras is a scam unless you diligently use it all up each year

Public liability/professional indemnity maybe a different story I dunno

 

[Keys]

Insurance is that one weird thing that you pay for but hope never to have to use

 

[KERRPOW]

I reckon all insurance is a rort/scam. I have private basic ass hospital cover just to avoid paying the Medicare levy. Kinda works out the same payment either way. Comprehensive car insurance is a scam though. Health extras is a scam unless you diligently use it all up each year

Public liability/professional indemnity maybe a different story I dunno

It depends who you are insured with. Ive heard AAMI are a pain when it comes time for a claim, and I wouldn't waste my time with the budget insurers as you basically need receipts for everything

We're with RAC and couldnt fault them based on my experience with some major claims.

 

[KERRPOW]

The biggest rort is pet insurance.

 

[TY24]

Did all 3 of you purchase dune 2 special popcorn buckets?

 

[TY24]

I’m extremely fortunate to get private health subsidised through my employer, it’s the only reason I have it.

 

[DanWCE]

I reckon all insurance is a rort/scam. I have private basic ass hospital cover just to avoid paying the Medicare levy. Kinda works out the same payment either way. Comprehensive car insurance is a scam though. Health extras is a scam unless you diligently use it all up each year

Public liability/professional indemnity maybe a different story I dunno

Comprehensive car insurance is a scam until your car is totalled by some drongo in a non roadworthy car with no insurance, or stolen by the same sort of pleb.

I don't have comp car insurance because I can't drive, I have it because I witness others who can't on a daily basis.

 

[FKASC]

Comprehensive car insurance is a scam until your car is totalled by some drongo in a non roadworthy car with no insurance, or stolen by the same sort of pleb.

I don't have comp car insurance because I can't drive, I have it because I witness others who can't on a daily basis.

How often does it happen though? You’re more likely to spend more over your lifetime on premiums than the amount you’d be covered in the unlikely event it’s totaled.

Of course if you have a fancy af car then I guess it’s not a scam

 

[DanWCE]

How often does it happen though? You’re more likely to spend more over your lifetime on premiums than the amount you’d be covered in the unlikely event it’s totaled.

Of course if you have a fancy af car then I guess it’s not a scam

Theres always that tipping point, right? Imagine cancelling your insurance and committing to putting that money aside instead. You throw $75/mth aside which used to cover your $20-25k car and a year later you get dusted off the road by some flog in an old ute with no brakes.

$900 in savings isn't going to get you back on the road in a hurry. Even if it happened after 10 years you still only have 9k. The car might still be worth more than that. You could part out the wreck if it's salvageable but that might get you a few grand for the time spent - and that's if you have the time and tools to do it.

That's the premise of insurance though. You're covered in the case of something unfortunately going wrong.

 

[Biggie]

There’s no way I’m going onto the road with my wheels not covered. And yes I’ve got decent wheels. (Put me on the team coach)

As DanWCE said - others out there simply DGAF and I can’t run that risk.

 

[DanWCE]

There’s no way I’m going onto the road with my wheels not covered. And yes I’ve got decent wheels. (Put me on the team coach)

As DanWCE said - others out there simply DGAF and I can’t run that risk.

Did you end up selling the Clubby?

 

[FKASC]

Theres always that tipping point, right? Imagine cancelling your insurance and committing to putting that money aside instead. You throw $75/mth aside which used to cover your $20-25k car and a year later you get dusted off the road by some flog in an old ute with no brakes.

$900 in savings isn't going to get you back on the road in a hurry. Even if it happened after 10 years you still only have 9k. The car might still be worth more than that. You could part out the wreck if it's salvageable but that might get you a few grand for the time spent - and that's if you have the time and tools to do it.

That's the premise of insurance though. You're covered in the case of something unfortunately going wrong.

Nah the premise is to make people afraid of the 1/100000 chance that they might suffer a financial loss and then penalise people for utilising the ****ing service you’ve been scared into paying for

****ing crock of shit m8

 

[WCE_phil]

I'll only comment on car insurance as I know a lot about modern cars. You got a car with auto dimming high beam, 360 cameras and the like etc. etc.

Your windscreen plus the refitment of existing equipment is 3.5k+, an entire side mirror assembly (so it gets smashed off) is 3k and so on and so forth.

Drive a car without the latest in 'safety' features and sure you can play the numbers game as much as you like and just run with third party, particularly if say you had Keys old car.

I wasn't part of the exercise but saw the numbers years later. In 2015 a WA mazda dealership ran the numbers on purchasing all the parts (not including the chassis) of a Mazda 3. The cars were new drive away for about 26 or 28k at the time. The cost just for the dealer to purchase every single part was over 160k.

I'd hate to see some of the numbers now, but these days almost everything is a write off if the car is damaged enough to set off airbags. So for me along with comprehensive home insurance (btw almost everyone is underinsured here) it's just an expense you have to live with.

 

[Boohemian]

Going to be the tax nerd that I am, and flag that if you're not sufficiently covered by private health, you're up for the Medicare levy surcharge.

Once upon a time you'd be crazy not to have private health because it was less than the surcharge. Not the case these days with the way premiums continually increase.

I'm thinking about ditching hospital and sticking with extras. Three public system will take care of you if you need it. For some reason no one gives a shit about your teeth though, so I'm better off with a premium extras cover.

 

[FKASC]

an entire side mirror assembly (so it gets smashed off) is 3k and so on and so forth.

I bought an aftermarket side mirror assembly online for about $300 and installed it myself. It’s not perfect but does the job fine. Has blind spot monitoring, automatic folding etc. 2016 mazzy3

 

[Dazzler9]

Going to be the tax nerd that I am, and flag that if you're not sufficiently covered by private health, you're up for the Medicare levy surcharge.

Once upon a time you'd be crazy not to have private health because it was less than the surcharge. Not the case these days with the way premiums continually increase.

I'm thinking about ditching hospital and sticking with extras. Three public system will take care of you if you need it. For some reason no one gives a s**t about your teeth though, so I'm better off with a premium extras cover.

Only if you earn above the threshold.

 

[Dazzler9]

If you don't have car insurance and you're at fault in a crash, aren't you liable for the damages?

 

[WCE_phil]

I bought an aftermarket side mirror assembly online for about $300 and installed it myself. It’s not perfect but does the job fine. Has blind spot monitoring, automatic folding etc. 2016 mazzy3

Try one that has a camera in it that has to integrate into the factory ecu. Add an extra zero and you are at the starting price for most manufacturers.

 

[Truckosaurus]

The biggest rort is pet insurance.

They wouldn't pay for the dog's pancreatitis because she would have been born with it, even though there were no symptoms (or a diagnosis) until she was 2.

 

[FKASC]

If you don't have car insurance and you're at fault in a crash, aren't you liable for the damages?

I have third party insurance (it’s about $350 a year) for that purpose. Obv I don’t want to pay for some campaigners Ferrari if I scratch it

 

[WCE_phil]

If you don't have car insurance and you're at fault in a crash, aren't you liable for the damages?

Yes, however you can't sue people for what they don't have.

 

[happy_eagle]

Going to be the tax nerd that I am, and flag that if you're not sufficiently covered by private health, you're up for the Medicare levy surcharge.

Once upon a time you'd be crazy not to have private health because it was less than the surcharge. Not the case these days with the way premiums continually increase.

I'm thinking about ditching hospital and sticking with extras. Three public system will take care of you if you need it. For some reason no one gives a s**t about your teeth though, so I'm better off with a premium extras cover.

Yep I fell into this issue last year. Have private health extras but not Hospital.
Was never a problem as I was usually under the threshold, until last year where I was not. Thankfully I wasn't far over so could find enough things I could claim on to get my income under the threshold.

However this year will be a different story.

 

[DanWCE]

Going to be the tax nerd that I am, and flag that if you're not sufficiently covered by private health, you're up for the Medicare levy surcharge.

Once upon a time you'd be crazy not to have private health because it was less than the surcharge. Not the case these days with the way premiums continually increase.

I'm thinking about ditching hospital and sticking with extras. Three public system will take care of you if you need it. For some reason no one gives a s**t about your teeth though, so I'm better off with a premium extras cover.

I only got private health for the tax benefits (initially). There was a time I used the extras as well but those days are mostly behind me.

Is there a tipping point where income earned or private hospital cover payments make it less worthwhile?

 

[Dazzler9]

I only got private health for the tax benefits (initially). There was a time I used the extras as well but those days are mostly behind me.

Is there a tipping point where income earned or private hospital cover payments make it less worthwhile?

There's an income threshold where the Medicare surcharge kicks in (combined income for couples). Once you go over it, you're up for, I think, 2% extra tax. Generally, the insurance premiums will be less than 2% of your income.