Insurance

@Alfaholic: A couple of years back I financed an Opel Corsa Lite and had the insurance as part of my father's policy, maybe things have changed.
 
stevenv said:
@Mypro: You can have it insured under a parent's policy but you have to be specified as the primary driver and as a result the policy will be higher than if you were the secondary (or infrequent) driver. Would compare what you get this route with what you would independently because (1) if you have an accident and claim, it will cause a loss of any no-claim bonus and increase in premiums for the insured and (2) getting insurance earlier means you should get better premiums quicker. I include the last point because when you finally want to get your own cover, one question they will ask is: how many claim free years have you had cover? Sure, years insured as the primary driver will count but not as much as years with your own cover.
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There is a difference if the car is financed.
If i remember correctly, when i bought a car for the wife but i financed under my name, the bank said the insurance policy must be under my name.
But when we recently bought a car cash, i put the car under her name but could put the insurance under my policy.
I dont think the issue is with the insurance houses, but the banks.

I could be wrong though but i do remember Absa telling me the insurance needed to be in my name.
 
stevenv said:
@Alfaholic: A couple of years back I financed an Opel Corsa Lite and had the insurance as part of my father's policy, maybe things have changed.
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Nothing wrong with that, but AFAIK when you finally take out insurance in your own name you are treated as a first time insurer.

Don't know if anyone read what I said to the OP in that other thread about Installments, but he is apparently laughing because he is only paying 10.5%, but I then said that he would more than make up for that saving when he discovered what his insurance was going to be, and it looks as if he is starting to find that out. If you are under 25 you have got to be prepared to sweat bullets over what they are going to nail you for insurance if you buy a high performance car. Best to wait a couple of years before buying the quickie...you will save a fortune on Insurance alone.
 
superskully said:
There is a difference if the car is financed.
If i remember correctly, when i bought a car for the wife but i financed under my name, the bank said the insurance policy must be under my name.
But when we recently bought a car cash, i put the car under her name but could put the insurance under my policy.
I dont think the issue is with the insurance houses, but the banks.

I could be wrong though but i do remember Absa telling me the insurance needed to be in my name.
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That is correct.
 
Fazda said:
If you are under 25 you have got to be prepared to sweat bullets over what they are going to nail you for insurance if you buy a high performance car. Best to wait a couple of years before buying the quickie...you will save a fortune on Insurance alone.
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So true. Can also do what I did with my first insured car: pay-as-you-drive and never go anywhere :) but seriously, if you don't do alot of mileage (unlikely when you have a nice car) it takes quite a chunk out of your premiums.
 
stevenv said:
So true. Can also do what I did with my first insured car: pay-as-you-drive and never go anywhere :) but seriously, if you don't do alot of mileage (unlikely when you have a nice car) it takes quite a chunk out of your premiums.
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That makes a huge amount of sense , but unfortunately when you are under 25 something takes over the brain on the logic side....and you WANT the Maclaren or the Ferrari or the bloody Honda S2000 that insurance companies hate...and it is at that point that you have to quietly sit back and chat to yourself over a beer or two and tell yourself that you are no longer GOD, and that the Insurance companies WILL milk you as long as you breathe and are under 25.... End of Story for tonight :D Seep well...;)
 
From my experience the whole under 25 thing is actually a myth, I'm 29 and never had any benefits from being over 25 from being under it, from what I've gathered from insurance companies higher performance cars should be bought at 30, my buddy had his RX8 from 28 and his premiums went down when he turned 30.
 
Lupus said:
From my experience the whole under 25 thing is actually a myth, I'm 29 and never had any benefits from being over 25 from being under it, from what I've gathered from insurance companies higher performance cars should be bought at 30, my buddy had his RX8 from 28 and his premiums went down when he turned 30.
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Used to be 'over 25' rule. But a few years ago, changed to 'over 30'.
 
Well, I got a quote for R 1250 today, thats not to bad haha!
@ Alfa, Im not worried about fuel consumption at all to be honest ( i dont pay for it ) and with regards to dealer network im sorted :)

I realise being 23 and driving a vehicle for +- R 285 000-00 is not really an ideal car BUT... You only live once and whilst I can have a little bit of fun on the road I may as well right?
 
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100% agree with you there! I have always driven ( High Performance Cars ) Since I was 18. Touch wood I have never had an accident or even come close. I am a cautious driver but I know how to handle a car too.
 
Mypro-D said:
100% agree with you there! I have always driven ( High Performance Cars ) Since I was 18. Touch wood I have never had an accident or even come close. I am a cautious driver but I know how to handle a car too.
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Great to hear that. :D

We used to run courses for Porsche buyers in the mid 80's, so that they guys knew how to travel safely as well as enjoy their cars. It is something that I am playing with again, whereby a high speed course becomes part of the deal on certain of our performance cars. Sadly there are far too many guys out there who can afford a high performance car, but never even come close to knowing how to handle it. They usually end up killing somebody else rather than themselves! :(
 
Yeah...

There is also unfortunately a school of thought that goes along the lines of most people don't actually KNOW how to drive until they've had their first major accident....
 
ToxicBunny said:
Yeah...

There is also unfortunately a school of thought that goes along the lines of most people don't actually KNOW how to drive until they've had their first major accident....
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Bloody crazy :mad:

The Porsche Courses were started after an horrific accident between Pretoria and Warmbaths where an entire family was wiped out, and they were just parked next to the road watching the Porsche guys dice.

If you are waiting for your first accident before you can claim to really know how to drive, then you might as well play Russian Roulette with a fully loaded gun!

You NEVER know it all! I did my first Advanced Driving course after I had been racing for 3 years, and I was totally amazed at what I had been doing wrong since I started driving! It actually made me quicker in events, as well as safer!
 
The Day I got my license ( 9th Of August 2005 ) I asked my Dad if I could do the BMW advanced drivers course. Since then I have been again 3 times.

I also raced MX bikes since around 16 :) The advanced drivers courses really are awesome though, you learn A LOT!
 
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That is really great to hear! I think that an Advanced Course should be part and parcel of EVERY young guy about to hit the road! ;)

Now I am starting to relax about you driving the Opel!! :D ;)
 
Mypro-D said:
Haha, were you a little nervous :/
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Well I you read some of your comments, I just thought..Oh God, here's another kid with too much money who HAS to have a fast car and how long will it be before he wipes himself out!;)
 
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