CIL Insurance renewal

Submitted: Friday, Mar 29, 2019 at 18:07
ThreadID: 138079 Views:1550 Replies:10 FollowUps:7
Just received my renewal from CIL for our 2010 6.55m caravan.

The premium increase over last year is ... 22%!! and the Agreed Value has dropped several thousand dollars
Has anybody else had an increase like this?
How can an increase of 22% be justified?
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Reply By: Mal58 - Friday, Mar 29, 2019 at 18:41

Friday, Mar 29, 2019 at 18:41
Hi,
Mine went up 18% in December last year.

I rang them up and complained, only to be told it is a result of lots of claims due to the hail damage that both Melbourne and Sydney copped last year.

I did a shop around several other insurance companies and I really could not get a better quote, so I renegotiated with an increased excess, so the increase in the end was about 5%.

Cheers,
Mal


AnswerID: 624696

Follow Up By: B1B2 - Friday, Mar 29, 2019 at 20:04

Friday, Mar 29, 2019 at 20:04
I did much the same as Mal. They gave me the same reasons and I ended up staying with CIL.

Bill
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FollowupID: 898185

Reply By: Bobjl - Friday, Mar 29, 2019 at 22:46

Friday, Mar 29, 2019 at 22:46
I am not insured with CIL.
22% sounds like a big hit in one year and it is understandable that you would question how it may be justified. Agreed Value decline is just a small element of many considerations Insurers would rely on to set premiums and is not necessarily the main driver of rating. Repair costs may have increased etc etc. CIL is a specialist underwriter for RV's etc and you would expect they would get it right [competitive premiums and adequate cover]. To satisfy yourself that the premium is fair and competitive, go to the market, get on line quotes from say RACV/NRMA or others, ensuring like for like cover and you will know whether the steep increase and cover provided is worth sticking with. You may be able to lever a better deal from CIL if you have a good history and explain that there are cheaper deals available [assuming there are cheaper options].
Bob
AnswerID: 624701

Follow Up By: fisho64 - Saturday, Mar 30, 2019 at 01:26

Saturday, Mar 30, 2019 at 01:26
And also do an online quote with your own insurer changing your name by one letter if necessary then hit them up with it.
All insurers will drift their premiums higher over time thinking that the longer you are there the more likely you just pay up.
You never hear them dropping premiums because there hasn’t been a hailstorm.
Similarly health insurance, when the age loading was added years back HBF has to increase premiums due to the influx of people. Other changes recently would have caused people to leave which HBF also said meant a premium increase...
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FollowupID: 898186

Reply By: Outback Epicurean - Saturday, Mar 30, 2019 at 09:56

Saturday, Mar 30, 2019 at 09:56
Have a look at QBE. Very competitive and also, they allow you to nominate months when you don't use the van and large discounts. Well worth talking to them.
AnswerID: 624705

Follow Up By: Greybloke - Tuesday, May 14, 2019 at 23:32

Tuesday, May 14, 2019 at 23:32
I agree that QBE are good. My CIL renewal was to cost $1060. QBE came in at $480!
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FollowupID: 899233

Reply By: Alloy c/t - Saturday, Mar 30, 2019 at 14:04

Saturday, Mar 30, 2019 at 14:04
They are not the only ones , Allianz has pulled what can only be called a 'swifty' or a deception [ pick one ], instead of 'no claim' bonus that you built up over the years to a maximum of 60% they have changed to a 'Star' rating , you now build up your stars to a maximum of 6 .......good oh eh ??...6 stars give you a 15% of your premium , whereas before you got 60% so an increase of 45% , thieves , out and out thieves .......
AnswerID: 624712

Follow Up By: Member - MARIC - Tuesday, Apr 09, 2019 at 20:36

Tuesday, Apr 09, 2019 at 20:36
Alliance, also underwrite "Club Marine" boat insurance, I had a mishap with a reef on 23rd Feb, sent in claim via Boat repair shop with pix etc, now they want motor stripped for further evidence .... but wait for it, at my cost and if they approve the claim they will then pay for claim. Not Bad 6 weeks later and no ferkin satisfaction ;o(
It is only when you see mosquito land on your testicles that you find another way to solve problems without violence

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Reply By: David I1 - Saturday, Mar 30, 2019 at 15:47

Saturday, Mar 30, 2019 at 15:47
All I can say is mine actually went down!! Used to have my van stored at Clarkfield at a well known storage site. Now stored at my friends 4 acre property at Riddells Creek. Not only saved $770 in storage but the premium went down by $345!!. However having said that the premium had only increased by $45 had it stayed at Clarkfield. It seems to me that premiums are based, just like cars on locations,claim history of brand/model, and those locations with high claims history (for whatever reason) cop the increases. Just glad my van is stored in a low risk area both for theft, and climate reasons.
AnswerID: 624716

Reply By: Shaker - Saturday, Mar 30, 2019 at 16:02

Saturday, Mar 30, 2019 at 16:02
Sometimes premiums can be driven up by changes in the demographic of your area, where areas like Hallam, Berwick & Endeavour Hills were probably once low to medium risk areas, now due to an influx of people with a gang culture, they are now most likely deemed to high risk.
AnswerID: 624717

Reply By: Member - pedro1 - Monday, Apr 01, 2019 at 01:46

Monday, Apr 01, 2019 at 01:46
Beware of policy changes :
I checked with CIL re their policy about falling trees coverage which had apparently been changed . The response was, it is decided by a case to case basis- If a weather event or storm has caused the damage, you are covered. If a limb suddenly decides to fall on your van, you are not covered ! Interestingly the last two times I have been in a caravan park in January (summer in SW of Perth ) we have had a limb fall close to us.
On last occasion no wind, but around 13mm of rain a couple of days earlier. Previous occasion normal S.W. seabreeze.
I suspect CIL wouldn't cover either event as no weather event on the day.
AnswerID: 624733

Follow Up By: Kenell - Monday, Apr 01, 2019 at 08:42

Monday, Apr 01, 2019 at 08:42
I also checked with CIL for clarification re their "action of trees or their roots" exclusion. The wording is weak in my view. Here is a cut n paste from their emailed response.

In regard to "the action of trees or their roots" if for example a caravan was stored under a tree for a length of time and sap fell on the caravan and was not cleaned off regularly and caused damage to the caravan this would be classed as lack of maintenance, however if you are parked in a caravan park and a branch falls on your caravan this would be accidental damage and would be covered.

If any event does occur CIL recommends you contact our claims department as each claim is assessed individually."

My suggestion is that anyone insuring a caravan, camper etc with CIL or any of the Suncorp coys, since they all have the same exclusion, email them and seek clarification as to their position. Keep that email with your PDS.

In addition to the tree position CIL also excludes any cover when a caravan is being transported on a truck unless it has been damaged in an accident. I had the misfortune to have a breakdown a long way from home and both my car and camper had to be transported home - over 2000ks. The cover provided by the transporter was basic and wouldn't have covered hail, vandalism etc. For an additional $60 p/w CIL covered it.
Apart from these two issues I am a CIL advocate and I continue to insure with them. Their service meets my expectations.
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FollowupID: 898223

Reply By: Member - pedro1 - Monday, Apr 01, 2019 at 11:44

Monday, Apr 01, 2019 at 11:44
Hi Kendal
The section "If any event does occur CIL recommends you contact our claims department as each claim is assessed individually." is the bit that concerns me .
Since we get different answers from the call centre, you will probably get different results dependant on the claims assessor .
"however if you are parked in a caravan park and a branch falls on your caravan this would be accidental damage and would be covered"
This is a different answer to what I received !
Is the situation different if you are in a National Park/ free camping or at a rest area? Is the former because the trees may be regularly inspected and maintaned compared to the latter situation ?.
Who knows how the assessors think on the day .
AnswerID: 624740

Follow Up By: Kenell - Monday, Apr 01, 2019 at 13:50

Monday, Apr 01, 2019 at 13:50
Hi Pedro,
The differentiation lies in the event rather than where it happened. The verbal explanation I received was that they were trying to avoid damages that occur over time such as might happen to an onsite van or similar long term layup. I suggested they had the opportunity to build that into the PDS and even offered to re word it for them but they declined. I maintain the wording is weak and if tested I would be surprised if it would stand up ie a tree is an inanimate object yet they exclude its actions. No one wants to get involved in testing the wording and for that reason it is best to seek the written clarification as I did.
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FollowupID: 898234

Reply By: Member - willawa - Monday, Apr 01, 2019 at 18:22

Monday, Apr 01, 2019 at 18:22
I ring around every year. quotes from Allianz ,QBE etc are always higher
Changed back to NRMA with lay up cover. as you only need to call them if you decide to go roving . They are my pick. worth a call better than trying to do it on line


willawa (NSW)

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AnswerID: 624750

Reply By: tim_c - Friday, Apr 05, 2019 at 10:33

Friday, Apr 05, 2019 at 10:33
Just a weird question - has anyone else experienced, after commencing insurance with CIL, a lot of telemarketing phonecalls from people trying to flog funeral insurance (as if you'd pay someone to make a profit on insuring an event with exactly 100% risk)? Or was this just a coincidence in my case?

Or does everyone get pestered by these nuisance calls, irrespective of the insurer you choose?
AnswerID: 624796

Follow Up By: Kenell - Friday, Apr 05, 2019 at 11:49

Friday, Apr 05, 2019 at 11:49
Mmmmmmm. Yes I used to get them too. Suncorp owns CIL and another division of the coy has a funeral cover available so no coincidence. You are correct - funeral insurance is an absolute rort. They stopped calling me after I explained the statistical realities and why the product would come under scrutiny very soon.
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FollowupID: 898332

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