Insurance Discussion

Bill · Post by **Bill** » Mon Sep 03, 2001 12:46 pm

Hi Gang

Sorry about the delay in sending this but as zorruno knows my PC emailer has been doing some crazy things lately.

Based on the numerous responses to this issue (insurance rates) which by the way seem to have insurance cost numbers all over the place (with as many variables included or excluded), would it be possible to have some form of spreadsheet that members could fill in on the web site, or a survey done, then compiled and provided to the club members annually so that everyone could compare oranges to oranges, etc?

Variables like discount, location, alarmed(or not), hard/soft top, car yr, mileage, over/under 25, insured value, non-std equipment., etc are some variables that come to mind, though I'm sure there are others. Maybe some one in the club is or knows someone in the auto insurance business that could provide some factors/data that affects rates we all need to know about (for example I learned the supposedly 'fashionable' area I live in ---you could fool me with that one ----has one of the highest theft rates in the country.

Now THAT document would be one hell of a benefit to club members and might even attract a few more people to join. Just thinking out loud.
Bill

PS : I have a 91BRG with 100k, std stock radio/cassette/cd, hardtop, alarmed, not garaged, 30% discount, no under 25, live in Parnell, insured for 10K, premium (one lump sum NOT monthly) is $849 with SIS. The same coverage with my old provider NZI would have been $1100.

Michael & Kate Cooper · Post by **Michael & Kate Cooper** » Mon Sep 03, 2001 6:55 pm

We think that the NZ MX5 club should organise a deal with an insurance
company to get a better deal for club members. A discount off the base
rate?? I am with a large franchise network and we have secured a great
insurance deal through a broker.

We are paying $274 for a 1990, $9000 agreed value, with an under 25 named
driver ($750 excess), 60% discount (no claims), in Christchurch, with AMI.
I rang around ALL of the insurers to get the best deal - most wouldn't
insure an under 25 driver in a sports car at all!

Ciao

Kate Cooper

Nigel Every · Post by **Nigel Every** » Mon Sep 03, 2001 7:46 pm

Your email has made me get off my butt and have a look at our insurance.
We currently have 3 MX 5's (don't ask why) and details are as follows
1993 1.8 S Special Insured $14,500 premium $345 pa
1991 1.6 Insured $9,000 premium $320 pa
1990 1.6 Insured $9,000 Premium $269 pa
They all have $300 excess, higher for under 25's. No difference for alarms.
The policies are through BNZ which is State/Norwich.
We are in Hamilton.
It would appear we are paying a lot less than a lot of others. Yes it would be interesting
to have a comparison done.

Nigel

Hi Gang

Sorry about the delay in sending this but as zorruno knows my PC emailer has been

doing some crazy things lately.

Based on the numerous responses to this issue (insurance rates) which by the way

seem to have insurance cost numbers all over the place (with as many variables included
or excluded), would it be possible to have some form of spreadsheet that members
could fill in on the web site, or a survey done, then compiled and provided to the
club members annually so that everyone could compare oranges to oranges, etc?

Variables like discount, location, alarmed(or not), hard/soft top, car yr, mileage,

over/under 25, insured value, non-std equipment., etc are some variables that come
to mind, though I'm sure there are others. Maybe some one in the club is or knows
someone in the auto insurance business that could provide some factors/data that
affects rates we all need to know about (for example I learned the supposedly 'fashionable'
area I live in ---you could fool me with that one ----has one of the highest theft
rates

Now THAT document would be one hell of a benefit to club members and might even

attract a few more people to join. Just thinking out loud.

Bill

PS : I have a 91BRG with 100k, std stock radio/cassette/cd, hardtop, alarmed, not

garaged, 30% discount, no under 25, live in Parnell, insured for 10K, premium (one
lump sum NOT monthly) is $849 with SIS. The same coverage with my old provider NZI
would have been $1100.
[...]

Scott Elder · Post by **Scott Elder** » Tue Sep 04, 2001 6:13 pm

Being an under 25yr old, my father is currently insuring my car (with $750
excess) for about $400. In the mean time, I am insuring his car so that I am
building up a credit history so that in a year's time, the premium won't be
so bad 4 me. Kind of sneaky but it works.

Otherwise it would be costing me about $1400 to insure it with about the
same excess.

Ian · Post by **Ian** » Tue Sep 04, 2001 7:17 pm

I'm with NZI about $380 pa but having queried the monthly a/c Ive found that
owning one 1990 Mazda Eunos I'm also be charged for a Mazda MX5 with the
same reg plate.
Looks like a refund coming up.
Ian

Post by **zorruno** » Thu Sep 06, 2001 10:35 am

If someone wants to volunteer to collate all this insurance data, I will
take a case to an insurance company on behalf of the club. I have briefly
approached AMI about sponsorship a while ago, but they didn't get back to
me. I don't intend to do the whole thing myself however...

I think now that we have shown how ridiculous the variation in insurance for
these cars is that we may have a case. Owners clubs in other countries do
manage to swing deals, and now that we have a membership base of around 300
cars, we may be able to do something.

If anyone has contacts in the insurance industry that could help, this would
be useful also.

Thanks
zorruno.

[...]

john.bayliss · Post by **john.bayliss** » Thu Sep 06, 2001 11:00 am

----------------------------------------------------------------------------|

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If someone wants to volunteer to collate all this insurance data, I will
take a case to an insurance company on behalf of the club. I have briefly
approached AMI about sponsorship a while ago, but they didn't get back to
me. I don't intend to do the whole thing myself however...

I think now that we have shown how ridiculous the variation in insurance for
these cars is that we may have a case. Owners clubs in other countries do
manage to swing deals, and now that we have a membership base of around 300
cars, we may be able to do something.

If anyone has contacts in the insurance industry that could help, this would
be useful also.

Thanks
zorruno.

We think that the NZ MX5 club should organise a deal with an insurance
company to get a better deal for club members. A discount off the base
rate?? I am with a large franchise network and we have secured a great
insurance deal through a broker.

We are paying $274 for a 1990, $9000 agreed value, with an under 25 named
driver ($750 excess), 60% discount (no claims), in Christchurch, with AMI.
I rang around ALL of the insurers to get the best deal - most wouldn't
insure an under 25 driver in a sports car at all!

Ciao

Kate Cooper

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Bill · Post by **Bill** » Thu Sep 06, 2001 12:23 pm

Hello again

I see several issues/steps to the process:

zorruno, you may be the best person to answer this first one: Is there any way the web site could collect input in some way from club members so we could make comparisons of insurance rates by companies, location, and other criteria (for example some I mentioned in my earlier email)?

I ask as this information could be used to identify individual insurance company rate patterns, then in the short term enable members to gravitate towards which company is cheapest.

This could also help decide which insurance company might be inclined to offer the best deal, and finally provide the club with information to negotiate a better deal.

Though I have just renewed my policy for a year I would be happy to be on the negotiating team once the data is collected, however to negotiate from a position of strength one needs information that can be leveraged.

I will also contact someone I know who is a major NZ auto insurance broker and seek out his counsel.

All for my two cents --- which along with a ticket could get me on the Davenport ferry

Bill

Post by **zorruno** » Thu Sep 06, 2001 3:18 pm

How about posting a list of required items (e.g. insurance company,
location, excess, under 25 y/n, garage required) etc and everyone could
email the details of their plan directly to you. There has been quite a few
submitted already by the look of it. Then send me a file (e.g. excel
spreadsheet) with all the data. I could then collate it for the web site.
I've got a bit much on at the moment...

Hello again

I see several issues/steps to the process:

zorruno, you may be the best person to answer this first one: Is there any

way the web site could collect input in some way from club members so we
could make comparisons of insurance rates by companies, location, and other
criteria (for example some I mentioned in my earlier email)?

I ask as this information could be used to identify individual insurance

company rate patterns, then in the short term enable members to gravitate
towards which company is cheapest.

This could also help decide which insurance company might be inclined to

offer the best deal, and finally provide the club with information to
negotiate a better deal.

Though I have just renewed my policy for a year I would be happy to be on

the negotiating team once the data is collected, however to negotiate from a
position of strength one needs information that can be leveraged.

I will also contact someone I know who is a major NZ auto insurance broker

and seek out his counsel.

All for my two cents --- which along with a ticket could get me on the

Davenport ferry

[...]

redwon · Post by **redwon** » Thu Sep 06, 2001 3:54 pm

I've had a slow afternoon so I have created a simple Excel spreadsheet as a
database.The information required is
1.Name (initials will be used )
2.Cars year
3.Mileage
4.Town i.e Auckland(west),Tauranga
5.Insured Value
6.Annual Premium
7.No Claims Percent
8.Excess
9.Agreed/Market Value
10.Under 25 Yes/No
11.Is car modified i.e turbo,wheels,stereo
12.Is car alarmed
13.Garaged
14.Current Insurance Company

I will collate and send file to zorruno and any one who responds.
There will be North and South Island database.

Cheers

Steve

Graeme & Gretchen · Post by **Graeme & Gretchen** » Thu Sep 06, 2001 6:33 pm

Thanks for doing this
Gretchen (Invercargill)

Gary Morrison · Post by **Gary Morrison** » Fri Sep 07, 2001 10:56 am

I've had a slow afternoon so I have created a simple Excel spreadsheet as a
database.The information required is

1.Name (initials will be used ) Gary Morrison
2.Cars year 1991
3.Mileage 105,000km
4.Town i.e Auckland(west),Tauranga Wellington
5.Insured Value "Market"
6.Annual Premium $380
7.No Claims Percent 60%
8.Excess $250
9.Agreed/Market Value "Market"
10.Under 25 Yes/No No
11.Is car modified i.e turbo,wheels,stereo Wheels etc
12.Is car alarmed Yes
13.Garaged No, but parked away from street
14.Current Insurance Company AMP

I will collate and send file to zorruno and any one who responds.
There will be North and South Island database.

Cheers

Steve

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