Insurance time again!!

Submitted: Saturday, Dec 07, 2013 at 19:31
ThreadID: 105406 Views:2206 Replies:7 FollowUps:15
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So the time has come to look at my Patrol insurance again! I'm insured with GIO and whilst I have never claimed over the 10 years of the vehicle, they seem fair and reasonable overall. They cover all roads and a free windscreen and also 14 day car hire if I tick the box for an extra cost. The premium is $1050 for $31,000 agreed value, so its still insured for a little more than half the original value ten years on. You could hardly complain about that, although I could do a little better elsewhere I guess!
I did notice that the policy now say that the agreed value includes all accessories. I haven't listed any accessories so I don't pay any extra premium, so I don't know where I stand with that till I give them a ring!
So the question is, is there another Insurance company with something that stands out that I should chase up for a similar situation located in the south west of Sydney that could be cheaper and offer similar cover. Thanks in Anticipation! Michael
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Reply By: Member - Toyocrusa (NSW) - Saturday, Dec 07, 2013 at 20:51

Saturday, Dec 07, 2013 at 20:51
Hi Michael. I have a 2012 Prado GXL and just reinsured from Shannons to GIO (Same parent company) after querying my premium. $59000 cover was $995 with Shannons and they would not budge on price (although the operator when I cancelled said they should have) GIO top cover was $595.00 for the same amount with a couple of extras included, including any accesories fitted non standard, no extra for one windscreen claim per insurance term (per year, it meant) hire car and some accomodation. Both Insurers had a $650 excess. I ended up taking my ute and caravan over to them as well and saved a total of $700 on the three yearly premiums with pay by the month no extra. Cheers,Bob.
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Follow Up By: Michael ( Moss Vale NSW) - Saturday, Dec 07, 2013 at 21:46

Saturday, Dec 07, 2013 at 21:46
Thanks Bob! Michael.
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Reply By: Robin Miller - Sunday, Dec 08, 2013 at 08:54

Sunday, Dec 08, 2013 at 08:54
Hi Michael

My insurance went up significantly last year - I feel because I badly scrapped both sides of the car ($10k my first claim, which was handled very well by the way, despite loads of non-standard stuff) - They , AAMI said not.
To reduce cost I increased the no claim thing to $1100 and changed value to about $35000 and policy cost was about $600 for 2010 Patrol.

However previous experience with AAMI taught me that they don't seem to add accesories onto policies very well or get it wrong.

My solution was to pay by cheque which I stapled to a letter listing stuff , and referenced letter on the cheque and took a copy.

I.E. I put the onus back onto them (they never replied but I took the money)
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Follow Up By: Michael ( Moss Vale NSW) - Sunday, Dec 08, 2013 at 19:20

Sunday, Dec 08, 2013 at 19:20
Hi Robin, If you list accessories and want them covered and then if your vehicle is written off, the policy paid out and everything listed becomes the property of the insurance company. That's fair enough, that's how it works but GIO no longed list accessories separately, Quoted in their PDS " Where your car is covered for an "Amount Covered", this amount includes the value of any accessories or modifications". I have never insured accessories so if my vehicle is "written off" due to physical damage, apparently I lose all my accessories now. I don't mind if i had listed them and have the appropriate cover. So radios and roof top tent, mounted air compressor, on board shower etc, apparently now you lose the lot.. I haven't had a write off for 35 years so i don't know how its worked over the last few decades! Regards Michael
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Follow Up By: Robin Miller - Sunday, Dec 08, 2013 at 19:55

Sunday, Dec 08, 2013 at 19:55
Never had a car written off either Michael - but with AAMI we have an agreed value thing , its always higher than I reckon I'd be happy with if the car was lost so no issue.

I listed acessories for the case when in an accident - i.e. winch is out the front and hence likely to get damaged.

Things like lockers etc don't really matter as covered under agreed value , only reason I included them was to make sure they knew and had chance to object but as expected in each case its to hard so no-one bothers.

In 3 recent cases of total car loss amonst people I know I find it interesting that they didn't really care about 1 or 2k in a 100 as long as they got the 100.
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Follow Up By: The Explorer - Sunday, Dec 08, 2013 at 20:37

Sunday, Dec 08, 2013 at 20:37
"..I badly scrapped (sic) both sides of the car."

What!! You never spilt the beans on that one - the only previous thread of yours I recall was how "these cars are just the perfect shape for sliding thru the undergrowth" because of the smooth lines (or maybe because of the thin but very visible coating of BS). Surely not another Nissan beat up..:)

More on topic - can anything be rated as an accessory? e.g a normal tent not bolted to the car but carried inside when in transit?

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Follow Up By: Michael ( Moss Vale NSW) - Sunday, Dec 08, 2013 at 20:57

Sunday, Dec 08, 2013 at 20:57
Robin, I will ring Alliance and Apia and see what they do and get a quote. Hopefully I can tell GIO I have a much better price! Michael
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Follow Up By: Michael ( Moss Vale NSW) - Sunday, Dec 08, 2013 at 21:01

Sunday, Dec 08, 2013 at 21:01
Greg! Its a little grey but i think anything inside you would probably take out at the compound the vehicle is towed to! Michael
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Follow Up By: Robin Miller - Sunday, Dec 08, 2013 at 21:38

Sunday, Dec 08, 2013 at 21:38
Somebodies gotta lead the way Greg - it was actually covered in Nu-Finish - if I haven't got photo proof then I don't like to post.
(You may have heard me deny that a girl in a Pathfinder in front of me pulled me out after I couldn't follow her with both lockers engaged - shes still looking for the photos , until then I'm in plausible deniability mode)

Not sure of this but I was told things have to be permanently attached e.g. a phone cradle is covered but not the phone because
its designed to be removeable , made me wonder about my UHF in its cradle though but I understand its permanent enough.

Michael , do take the time to follow thru , its a pain but I recently went thru serval including coles woolies Racv and a couple of others who "Won't be beaten on price" and AAMI again won out for me.

Some really have misleading ads on TV
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Follow Up By: The Landy - Monday, Dec 09, 2013 at 06:23

Monday, Dec 09, 2013 at 06:23
Michael

I arrange my insurance through TCIS brokers and it is with Enthusiast’s underwriting.

On accessories and modifications, I list everything and send it to the insurer that way they have a full record of what is on the vehicle.

It is important to ensure that all modifications are listed as all PDS documents for comprehensive insurance have this clause, and for example, “lockers” are a modification. Also, PDS documents usually say words to the effect that the vehicle must be compliant with the registration regulations in the State it is registered.

Recently I have been going through the process of adding an auxiliary fuel tank, or an increase in capacity and replacement of the original. Both of these require an engineering certificate in NSW. It doesn’t mean the insurer would refuse a claim if they weren’t certified, but they can or reduce the payout.

I suspect not many bother because no one is usually checking. Modifications on light vehicles will most likely only be checked if it is involved in a serious accident.

So listing the modifications and accessories is one thing, it will still be your responsibility to ensure the appropriate compliance.
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Follow Up By: Michael ( Moss Vale NSW) - Monday, Dec 09, 2013 at 17:43

Monday, Dec 09, 2013 at 17:43
Landy ! I just completed an online TCIS form for comprehensive insurance, see how we go !! Michael
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Reply By: Steve M1 (NSW) - Sunday, Dec 08, 2013 at 09:45

Sunday, Dec 08, 2013 at 09:45
Was with Alliance and renewal came up at $1080 for a 2008 Prado d4d gxl. Went to Apia and got it down to $720. Both $600 excess. I have one blemish on the licence which will expire in May. Maybe will do better then.

Tried the same with NRMA house insurance but Apia wouldn't improve on the existing one. Also tried a couple of other online quotes to no avail. Still paying nearly $1500 p/a.
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Follow Up By: Michael ( Moss Vale NSW) - Sunday, Dec 08, 2013 at 19:28

Sunday, Dec 08, 2013 at 19:28
Thanks Steve, I will look at Apia, I appreciate that! regards Michael
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Reply By: Member - Ross N (NSW) - Sunday, Dec 08, 2013 at 10:05

Sunday, Dec 08, 2013 at 10:05
Michael
I am insured with Alliance through TCIS Insurance brokers .
Insured value $45850 including accessories, all listed & value nominated, full no claim bonus
excess $500.
Premium in March 2013 was $876.
includes windscreen, no claim bonus protection & cover anywhere in Australia
Ross
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Follow Up By: Michael ( Moss Vale NSW) - Sunday, Dec 08, 2013 at 19:29

Sunday, Dec 08, 2013 at 19:29
Thank you also Ross, I will try Alliance as well and see how i go! regards Michael
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Reply By: Kris and Kev - Sunday, Dec 08, 2013 at 10:08

Sunday, Dec 08, 2013 at 10:08
Just watch if your car is a modern diesel as some of the companies mentioned either do not cover for contaminated fuel or are less then clear on the matter. Shannons as an example say this. ‘In relation to fuel contamination, there is no exclusion preventing a claim being made. However, in order for the claim to be valid, it would need to be proven that the damage was in fact caused by contaminated fuel and not mechanical failure or faulty workmanship. The Third Party responsible for the contaminated fuel would need to be provided as well.’
People have differing opinions on the subject of the third party, some say it would be easy to prove, others say if travelling where you may fill up at several places in a matter of days if would be very difficult? So just be careful who you go with. Kevin
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Follow Up By: Michael ( Moss Vale NSW) - Sunday, Dec 08, 2013 at 18:58

Sunday, Dec 08, 2013 at 18:58
Hi Kevin, The GIO will not pay out on incorrect fuel being used regardless of vehicle or engine type, its noted under general exclusions in their Product Disclosure Statement. That surprises me as you wouldn't do it on purpose! There is no mention of contaminated fuel. Its something you need in writing when you organise payment but I don't suppose Insurance Companies would be good at that kind of thing! Thank you. Michael
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Follow Up By: Kris and Kev - Sunday, Dec 08, 2013 at 20:18

Sunday, Dec 08, 2013 at 20:18
I sent an email to a few insurance companies that I was contemplating about fuel contamination and they all responded. Some said no, some said maybe and some said yes they do provide that cover. In my email I gave an example so they fully understood what I meant by contaminated fuel. It is hard to understand how any car insurance company could not provide cover for accidental fuel contamination or incorrect fuel as you have rightly said, you would not do it on purpose (unless you were attempting some type of insurance fraud). But I suppose with the high cost of engine repairs on modern cars now days it makes business sense to limit your exposure to these claims. Not good for us consumers but. Kevin
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Follow Up By: Michael ( Moss Vale NSW) - Sunday, Dec 08, 2013 at 20:54

Sunday, Dec 08, 2013 at 20:54
Kevin, when my current patrol was a few months old i got a load of bad fuel from a BP servo. Promptly rang BP Sydney, they checked to see if a diesel tanked had left when I was arriving as I had told them. They paid the damage, new tank of fuel and that was it. I had a BP card at the time so verification of the facts was easy for them. They were great! I still believe its hard for a servo to dispute bad fuel when your vehicle stops a k down the road with a load of water. Probably if you wait there 30 minutes, you will see someone else with his bonnet up with the same problem a hundred metres away! regards Michael.
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Reply By: LIFE MEMBER-snailbait - Tuesday, Dec 10, 2013 at 16:04

Tuesday, Dec 10, 2013 at 16:04
hi guys
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Terry
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Reply By: Michael ( Moss Vale NSW) - Tuesday, Dec 10, 2013 at 18:49

Tuesday, Dec 10, 2013 at 18:49
So I did the ring around, my current G I O renewal is $1050 insured for $31,100 and $600 excess with maximum no claim bonus, and now with a policy change, includes all fitted accessories and modifications. I will ring them in regards to what they consider their in the event of a write off!
TCIS (Alliance) 4x4 cover, was $1160 and market value but covered $5000 of accessories for $2350 due to age of the accessories and $600 excess.

N R M A was $1780 $600 excess

Q B E was $1259 but varied up and down a $100 either way higher includes other drivers, and L drivers of which i have two leaner sons at the moment. QBE dont cover incorrect fuel or contaminated fuel. When I erred and told him my current policy was $200 cheaper, he picked the single driver policy with Learner drivers attached at $1030 and then dropped 10%. when i said i would think about it, he said he could probably get it to $960. Still not worth changing for $90.

I did an on line Woolworths quote for a laugh, $31,000 agreed value, $1140,
I did a Coles on line at $680 but there was little info available.

So I didn't get the response i expected, i was really looking for around $850 with an agreed value. Most quote in market value but some are upgradable to Agreed for another $100 or so ! Michael
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Follow Up By: Michael ( Moss Vale NSW) - Tuesday, Dec 10, 2013 at 18:59

Tuesday, Dec 10, 2013 at 18:59
Forgot to mention that I rang APIA, they were happy with my old age but they asked how many hours a week i work. I told them I work full time, that was a problem to them. I explained that even working 38 hours a week, I didn't do much, they wouldn't reconsider! LOL Michael
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