Car insurance on an old 4 number plate car

[mighty58]

Difficult to say whether you're paying too much or not, but the easiest way to find out would be to get a few estimates from other companies. That's a pretty easy process. I'd recommend Zurich, plus perhaps somewhere like Sony or Rakuten. You can also ask them specifically what it is that's making it expensive... is it your age? The 4-number designation? Something else?

Generally speaking with older cars, unless it falls into "classic" category, in which case it would be worth at least several million yen at a minimum, the collision insurance is both not available and not necessary. I usually buy older cars (not classic) for <500,000yen, and at that price level, it's often cheaper just to replace the car then fix it.

[pfdsa]

I’m 26 years old

Your car isn't the problem, you are.
I use SBI, I drive a BMW valued around 3.6 million yen and pay a lot less than you. I am also double your age
Your car is irrelevant, the other person you will potentially kill is very much so.

That seems a bit unnecessarily rude....

Insurance tends to drop in price with age in Japan. I believe my coverage on my previous car dropped in my Mid-20`s?

What is the value of the vehicle if you do not mind me asking?

My insurance did indeed dropped from around 15,000 per month to the actual price when I turned 26 yo.

From what they told me, since it is a 貨物車 (work car?) from 1988, it doesn't hold any value from their perspective.

Insurance gets cheaper the longer you have it without making a claim. Some policies are cheaper with a gold driving license. The most important thing is to have unlimited cover for third parties.

Sounds like pfdsa's vehicle doesn't have any value, which is why it is uninsurable. Might be best to start saving for a replacement vehicle (self-insure).

Thanks for the comment.
Agree with what you said. Wouldn't even consider driving without unlimited cover for 3rd parties.

I’m 26 years old

Your car isn't the problem, you are.
I use SBI, I drive a BMW valued around 3.6 million yen and pay a lot less than you. I am also double your age
Your car is irrelevant, the other person you will potentially kill is very much so.

Why there has to be always someone like this.
I'm not asking what’s the problem. But since you insist on it, yes the problem is the car age and plate number. The insurance company told me that they can’t insure such an old 貨物車.
Thanks anyway for the time you spend writing that.

Looks like the info you need is here:

https://www.chubb.com/jp-jp/individuals ... c-car.html

Thanks for the comment and link!

Yes, eventhough it's a national car, there are less than 100 units left in Japan. Parts are hard to come by, so that's why would be important to get it insured too and not only the 3rd parties.

Just checked that insurance, but looks like it’s only eligble for vehicles that drive less than 5,000 km per year. Unfortunately I drive almost the triple of that distance per year. Will look up similar insurance companies tho. Thank you.

Difficult to say whether you're paying too much or not, but the easiest way to find out would be to get a few estimates from other companies. That's a pretty easy process. I'd recommend Zurich, plus perhaps somewhere like Sony or Rakuten. You can also ask them specifically what it is that's making it expensive... is it your age? The 4-number designation? Something else?

Thanks for the comment!
Yes, from what they told me reason is the 4 number designation and the car age. Will do what you suggested. Thank you.

[RMA]

I think unless the car is brand new or very expensive, getting insurance on self car is not very advantageous. I believe you have to cover some part of the damages from your pocket and claim the balance from insurance and if you do so then next year your premium will go up further so it doesn't make sense to me economically. Anyway if there is an accident and it is not your fault then your car is insured with the other party's insurer as you will be the third party for them.

[RetireJapan]

Why there has to be always someone like this.

Apologies. That person is no longer a member of the forum.

[pfdsa]

I think unless the car is brand new or very expensive, getting insurance on self car is not very advantageous. I believe you have to cover some part of the damages from your pocket and claim the balance from insurance and if you do so then next year your premium will go up further so it doesn't make sense to me economically. Anyway if there is an accident and it is not your fault then your car is insured with the other party's insurer as you will be the third party for them.

Thanks for the comment! That's an interesting perspective.
The car itself isn't very expensive (very few left, but the ones in similar shape cost around 1 million yen), but it does have a lot of emotional value both for me and my girlfriend (pretty much was our home for a couple of months and helped us getting through some tough times), so that's why would be nice to get insured too. Anyway, thank you for your advice, will take it in consideration!

Why there has to be always someone like this.

Apologies. That person is no longer a member of the forum.

Sorry to hear that. I know that this is a very specific post/question, but was genuinely looking for some advice from who potentialy has more experience and knowledge than me. Wasn't my intention to start this kind of discussions.

[fools_gold]

Somewhere like Hoken no Madoguchi might be able to help you out. They deal with a few insurance companies so may be able to recommend one that meets your needs.

[RetireJapan]

Another good insurance comparison is at kakaku.com: https://hoken.kakaku.com/kuruma_hoken/

[Bushiman]

Hey pfdsa...
Not sure if anyone has mentioned it, but have you checked your insurance policy to see whether you're paying for other drivers to be insured if they drive your vehicle?
I was dutifully paying my car insurance for years without really paying much notice to the policy... After getting some work done on my car at a local garage, the mechanic asked if I really needed to have other drivers under the age of 25 insured to drive my car as he noticed that section on my insurance card... I contacted the company and bumped that age number up to the late 30s (actual age of family/friends) and my monthly fee came down quite a bit...

[pfdsa]

Somewhere like Hoken no Madoguchi might be able to help you out. They deal with a few insurance companies so may be able to recommend one that meets your needs.

Hi, thanks for the good idea! Will try one of those next time I pass by one.

Another good insurance comparison is at kakaku.com: https://hoken.kakaku.com/kuruma_hoken/

Thanks again! Completely forgot about kakaku.

Hey pfdsa...
Not sure if anyone has mentioned it, but have you checked your insurance policy to see whether you're paying for other drivers to be insured if they drive your vehicle?
I was dutifully paying my car insurance for years without really paying much notice to the policy... After getting some work done on my car at a local garage, the mechanic asked if I really needed to have other drivers under the age of 25 insured to drive my car as he noticed that section on my insurance card... I contacted the company and bumped that age number up to the late 30s (actual age of family/friends) and my monthly fee came down quite a bit...

Hi Bushiman, thanks for the comment!
Double checked my insurance policy just in case, but I'm the only driver registered. My girlfriend doesn't have a driving license for manual cars, and no one else dares to drive it since has no power steering or airbags, so Im the only one driving it.

That's a good advice tho, maybe it will help someone else

[TJKansai]

Hey pfdsa...
Not sure if anyone has mentioned it, but have you checked your insurance policy to see whether you're paying for other drivers to be insured if they drive your vehicle?
I was dutifully paying my car insurance for years without really paying much notice to the policy... After getting some work done on my car at a local garage, the mechanic asked if I really needed to have other drivers under the age of 25 insured to drive my car as he noticed that section on my insurance card... I contacted the company and bumped that age number up to the late 30s (actual age of family/friends) and my monthly fee came down quite a bit...

This is good advice. Sometimes the default isn't what you need.
My Mini was insured for me only (wife doesn't do manual), and our other car just us. My son would like a license and then to drive it, but I told him he has to pay the difference (which would be a fair bit).