Comprehensive insurance, Coles v NRMA

[TroyE]

I've had no mainstream insurance company come even close to insuring my troll because it has had a body chop and they refuse to cover modified vehicles full stop.  so I had to go to a specialist insurer (Australian 4wd insurance) they where the only ones that would offer coverage. so I have my doubts as to whether they will cover me I pay $38 a  month with full comp windscreen and all accessories choice of repairer and 1st option to by back if it's written off.  but I'll do the exercises just for my own piece of mind.

troy

[TroyE]

yep, just called them, and the response..........................................................  surprise surprise




sorry we can't offer you cover  

troy

[GU Rich]

With what mine is covered for I could recieve a payout and purchase another one 2nd hand. I did buy mine new. With the $$ they have offered including accessories I could find one. The overall cost of mine has dropped a fair bit from new.

I'm realistic and understand that you can't cover all the cost plus time in building up a 4WD, it's just the way of the world.

[Big Nath]

There is a loop hole. i am currently insured with GIO, when its time to renew, ph them and CANCEL it.

then phone back or get online and redo policy. saves you 10%

its ok to pay less on policy, but remember your payout will be less.

our GIO policy has my nissan insured for 37000. i pay 900/yr.

its cheaper to do it that way rather than list all mods.

Cheers

[Blue Bravo]

A lot of insurance companies give you a first year honeymoon quote and the second year the premiums go up. They hope that you just pay the renewal automatically as a lot of people do. You can save by ringing them and telling them your not happy with the new quote and they will find a way to get a discount.

[gadgetman]

I do the same each year when I receive the renewal from GIO.  I get an on-line quote which is usually 10-15% less, print it off then ring them up, give them the quote number and they renew at the reduced premium.  Sometimes they even take a bit more off when they see that I have all my policies with them. It's money for jam and beats changing insurance companies each year. 

[OffRoadDave]

Just got off the phone with Coles Insurance and I won't be insuring with them regardless of price. They will only cover factory and/or dealer fitted accessories in instance of a market value policy, or in the instance of an agreed value policy, they will only cover up to the maximum amount as agreed, which may or may not cover the accessories, in my case they don't go anywhere near covering the accessories.

The maximum they will do an agreed value for a 1993 80 series petrol Land Cruiser is a little over $11k, which doesn't cover the $7k of accessories fitted to the vehicle, and only just covers the value of vehicle itself.

Just something for the folks that went with Coles insurance to consider.

[noel_w]

Online quote for my 95 GQ = $399
Add my son as driver (got his Ls on Friday) = $1501
Don't think so...

[Bird]

Online quote for my 95 GQ = $399
Add my son as driver (got his Ls on Friday) = $1501
Don't think so...

many of them will do this though.

Like offroaddave, the accessories are the killer for me with them.

[ferret]

My 07 Dual Cab SR5 D4D Market Value Full Comp
Plus $ 13,000 Extras
with RACQ  $ 540.21

That'll do me

Cheers 

Frank

[WilSurf]

My 07 Dual Cab SR5 D4D Market Value Full Comp
Plus $ 13,000 Extras
with RACQ  $ 540.21

That'll do me

Cheers 

Frank

That is pretty good.
I had a quote yesterday for my LX470: RACWA $1050
Then DGA had $925, AAMI $630.
Big differences.

[OffRoadDave]

Well jeez, now I don't know what to do, just rang DGA to add a $1400 roof rack to the policy before renewing, "Sure sir we can add that for you, that will be another $260 and some cents please", WTF! That takes it to $1040 per year for insurance, I didn't pay that amount when I was 18 for cryin out loud.

Now I'm thinking do I just go with the cheap Coles insurance and take the risk on accessories myself, because $260 extra for another $1400 cover is a rip off. 

[LJs GU]

You guys are doing everything the hard way...

Shoot your details off to a couple of general insurance brokers (making sure to include your 'extras').  Let them do the hard work for you. They'll know the policies they're flogging (well, they should do, hence why I suggest using a couple of them for quotes).

Quotes will vary between insurers, but cheapest isn't the best thing with insurance...

LJ

[D4D]

Try these guys http://www.affinityib.com.au/request-a-quote/

[ferret]

You guys are doing everything the hard way...

Shoot your details off to a couple of general insurance brokers (making sure to include your 'extras').  Let them do the hard work for you. They'll know the policies they're flogging (well, they should do, hence why I suggest using a couple of them for quotes).

Quotes will vary between insurers, but cheapest isn't the best thing with insurance...

LJ

They don't have access to all insurance companies & why pay someone $50.00 when you can do it yourself

[LJs GU]

They don't have access to all insurance companies

Yeah true, hence why get a couple of brokers going at once. Make sure they let you know who they use.

why pay someone $50.00 when you can do it yourself

Stay away from these guys... they are lots of brokers who don't charge anything extra on top of your premium

Also an extra benefit of using a broker, is that come claim time, the brokers can help with the claim, and are on your side especially if it's disputed.
Insurers don't like to have unhappy brokers who have a big 'book' of business with them (= business gets written with someone else in future!)
LJ

[Bird]

Well jeez, now I don't know what to do, just rang DGA to add a $1400 roof rack to the policy before renewing, "Sure sir we can add that for you, that will be another $260 and some cents please", WTF! That takes it to $1040 per year for insurance, I didn't pay that amount when I was 18 for cryin out loud.

yea, but back then, your insurance went down yearly too with no claim bonus'.. not up every year even if you havent claimed in 20yrs.

Now I'm thinking do I just go with the cheap Coles insurance and take the risk on accessories myself, because $260 extra for another $1400 cover is a rip off. 

Call back and ask another person there, the answer will be different. DGA have always been expensive for me for some reason.
we had an insurance broker in my old club hes a wheeler, worth trying I suppose

Eddi at OL is with one of the insurance companies that begin with "A" - when he had an accident, they told him to arrange his own tow truck, and take that amount out of your excess...

As said, insurance is something you want to work seemlessly when you need it... it may not be every year though

[OffRoadDave]

Try these guys http://www.affinityib.com.au/request-a-quote/

I did, about $150 more than DGA.  

[WilSurf]

I did, about $150 more than DGA.  

I just send off a request.
See what they say.
Also requested one from TCIS.

[celibaterifle]

As someone who used to work in the insurance industry, experience has shown that settling claims is quite an emotional experience and the way to avoid these stresses is to make sure you are insured correctly in the first place. My advice is to find yourself a good agent or broker (such as the ones that specialize in 4WDs). They will handle all dealings with the insurer for you, and in most cases have had a long term relationship with the insurer and can use this to your advantage in negotiating premiums, claims, disputes, etc. Yes a direct insurer will often be cheaper but the hassles of dealing with them and trying to understand their policies, etc may cost you more in the long run.

Saving $400 now might not seem that good a deal if it costs you $1000s in the event of a claim.

One other bit of advice - always get it in writing. If your insurer says they will cover your accessories, or your vehicle whilst out 4WDing and not on public roads, etc make sure that they put this in writing to you and preferably as a notation on your schedule.

[OffRoadDave]

Well I went with DGA again, after tweaking excesses and agreed values of the cheaper options to make them comparable, the difference between DGA and the cheaper options was back under $200 so for the extra anywhere in Aus cover I can justify the extra expense.

Still can't help feeling touched up when insuring something worth 18k costs the same as insuring something 3 times the price.

[Bird]

Still can't help feeling touched up when insuring something worth 18k costs the same as insuring something 3 times the price.

dont forget, the older it is the more it costs to insure... Go work that out... I cant.

[WilSurf]

TCIS came back: $1020

[Bird]

LX470:
RACWA $1050
TCIS $1020
DGA $925,
AAMI $630.

Out of those 3, I'd go DGA.. as said, cheap is not always good