Insurance - Assessing different policies

Submitted: Friday, Jan 31, 2003 at 11:45
ThreadID: 3170 Views:1152 Replies:3 FollowUps:3
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The issue of insurance comes up regularly, but only mentions certain companies / policies. I believe it is worthwhile establisheing a checklist of items which can be used to assess the relative merits of each policies. I've started the list below, with mostly obvious things, but feel free to add to this list. Lets not make this a thread of venting all insurance disaster stories, rather the elements to look for in "good" policies.

1. Premium / Excesses / Sum insured
2. Agreed / Market Value
3. NCB / Rating protection
3. Cover for lost stolen keys / remotes
4. Off road cover - beaches, trails, 4wd parks, farms, unmarked roads, private trails
5. Cover for accessories - are they coevered, if so to what value, are they coverd if the replace standard equipment


Cheers
Andrew O
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Reply By: bruce.h - Friday, Jan 31, 2003 at 15:45

Friday, Jan 31, 2003 at 15:45
andrew
one i would add is only a new problem to arise is the abilty to have repairs done with repairer of your choosing,insurance policies now restrict the places you can have repairs carried out to the places chosen by the insurance co.they do this becauce by using a set repairer they can & do dictate the cost of the repairs thus keeping the cost to them down while this keeps policy cost down it does not always meen the best repairs are done.
Regards Bruce
AnswerID: 12264

Reply By: Savvas - Friday, Jan 31, 2003 at 16:10

Friday, Jan 31, 2003 at 16:10
Andrew ....

A decent guarantee on repairs.

This would be particularly important for repairs to a 4WD where the drive train is usually more complex than your standard Commodore/Falcon/Camry/Magna, etc.
AnswerID: 12266

Reply By: Truckster - Friday, Jan 31, 2003 at 16:44

Friday, Jan 31, 2003 at 16:44
Cover for Modifications is another.

My suspension Mods they wont cover for full costs, so I put them down individually.. Worked in my favor. Just more paperwork.

Cover for Camping gear/etc in car while away.
Just a thought.

Cover for gear in Utes/Trailers.
I got stung with a ute yrs ago, rolled it while moving house, and even though I asked about it when I handed over the millions, nothing in the back of the ute was covered by insurance.. No KY, just rogered good and hard...
But get this... If it was someone elses stuff it would have been covered.

Pay By The Month.
Is there that option. I do it with TCIS.
AnswerID: 12270

Follow Up By: Bruce.H - Friday, Jan 31, 2003 at 21:28

Friday, Jan 31, 2003 at 21:28
truckster
you say you pay by the month with tcis is thrugh the national council policy if so how long have you been able to do it
Regards
Bruce
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FollowupID: 7126

Follow Up By: Truckster - Friday, Jan 31, 2003 at 23:48

Friday, Jan 31, 2003 at 23:48
yes thru the 4wd club.


http://www.tcis.com.au/html/4wd_newsflash.htm

Monthly Payment Options

TCIS is pleased to announce all new contracts we offer can now be paid MONTHLY through bank deduction at no additional premium.This offer covers the full range of policies we provide to club members.Annual payment is, of course, still accepted by either cheque, money order or credit card.
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FollowupID: 7133

Follow Up By: Truckster - Friday, Jan 31, 2003 at 23:49

Friday, Jan 31, 2003 at 23:49
I did it all last year which I believe was the first yr you could.

But since CGU has been sold which is the company TCIS uses.... wait and see.

there are big changes on the horizon.
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FollowupID: 7134

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