Insurance

Hey Redcoat, Know how you feel.

A cut and paste from a post of mine 6 months ago. the bottom bit will interest you. I was in the same boat - credit union provide the insurance service as well - say they ring around all the majors to find the lowest quote, when actually all my mate's who got quote from the co-op say CGU came in the cheapest - then I ring around myself to find I can half the bloody quoted premiums!!!

any way here's the post....

Hello All,
Finally saved up the coin, and the 2002 Std 100 goes in for a turbo next Thursday. Decided on a Safari kit. I want to fit a Boost Gauge, to monitor the Turbo unit and also an Exhuast Gas Temp. Gauge. My question is, what's (Basically) involved in fitting these, How much should I be paying ( Ballpark) ??? is this a job that can be done by someone reasonably mechanically minded??

I cant wait......

Jarrod.

P.s, on a side issue was insured with CGU, Market value,policy cost me $550 per annum. Im 31, NO history whatsoever, rating one. 12onths ago, I reverse into a 3' pole causes $1300 damage. CGU policy goes up to $1400!!!!per year Now im a rating 3 in there eyes... So I do the ring around, Low and behold the one I try last TCIS insurance Quotes $900 per annum, That's cover anywhere in Oz, All camping gear, laptop camera everything in car, Plus all accesories on car (20 grand's worth) with all the mods - 50mm susp. lift, Turbo , snorkel.. etc etc. Total value of car nearly 60 grand.... Giddy up TCIS - worth doing the ring around..

Jarrod.

The problem could lie with the monthly payment. I think if you elect to pay monthly, you must complete the whole years payments before cancelling your policy. If you did not, this would be a easy way ot for CGU to return the excess and not pay for the damage to vehicles involved. I see a trend over the last few years with insurance companies, they are all happy to take the Premium as long as you dont make any claims inside the policy period.

Redcoat, my understanding is that you can't cancel your policy part way through a year when paying monthly. You agree to be insured for 12 months but spread the payments over those 12 months for your convenience. By cancelling your insurance with CGU I believe you are in default of your terms and conditions and they will now seek to not allow your claim. I'd check with your state motoring body and insurance ombudsman to be sure.

Redcoat

Haven't read the responses to this one but the bottom line is, if you don't get what your entitled to or are unsure, take your matter up with the insurance council of Australia (I think they still call themselves that).
My understanding is they oversee and arbitrate insurance disputes.

Lucky you were not insured with Allianz they would have tripled the policy.
I have dealt with some crook and shonky businesses in my time, but Allianz Insurance is the worst.

Redcoat
You have an interesting situation; CGU is part of the Insurance Australia Group (IAG) and, guess what, so is NRMA!

Thanks for the responses, folks.
Guess there is a lot of people with insurance issues, it's a shonky industry for sure.
The first chance I had to ring them was this morning (Monday) and they say they returned the excess because the other party to the incident had not been in contact with them!
Parso... thanks for your snippet of information, I was scratching my head because the girl at NRMA said I was alrteady on their computer system!!! I asked how come and she said "I guess you must have made an enquiry at some time", I had not had anything to do with NRMA for about 15 years, but I left it at that.
Sure is interesting how CGU says my current postcode attracts a higher premium and NRMA says it attracts a lower one.... If I was a cynic I would mention the word RORTERS!
One lesson to come out of it is ALWAYS SHOP AROUND!!
Anyway, have a good Christmas all.
Regards,
Redcoat

Redcoat,

As said previously your insurance is for the full 12 month term if you pay in full or in installments. If you cancelled part of the way through they could argue that you have not fullfilled your part of the contract and are therefore not insured by them. However if that is the case they sould really refund all of the payments you made and not just the excess. Check your terms and conditions. I'm sure there's something in there that's designed to stuff you around.

It doesn't look promising but good luck.

R.