Insurance

Submitted: Friday, Jun 13, 2003 at 17:40
ThreadID: 5434 Views:1803 Replies:6 FollowUps:8
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I've been reading the posts about insurance and wonder if anybody has had experience with Elders ..they seemed to be very easy to insure with and no trouble with modifications; almost too good to be true, in fact. Btw, when I was looking for off-road insurance NRMA and AAMI wouldn't touch it, but I notice that a number of you have policies with them, was I given wrong info?
Cheers,
Alleycat
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Reply By: Truckster (Vic) - Friday, Jun 13, 2003 at 17:47

Friday, Jun 13, 2003 at 17:47
As you say could be too good to be true. How can you tell anymore?

The issue that everytime someone rings an insurance company they get a different story pi$$e$ me off.

As you say they told you they wouldnt touch it, but then theres others that they say, "yea no problems", makes you wonder whats going to happen when they go to claim... if need be.

I think get everything in writing on Company letter head, and go with that... If they are willing to put it in writing, you "SHOULD" be fine, again How can you tell anymore.

What were the prices like? car age etc...

Thanks
me.
AnswerID: 22444

Follow Up By: Alleycat - Friday, Jun 13, 2003 at 18:46

Friday, Jun 13, 2003 at 18:46
It's a 98 Hilux 3lt Turbo xtra cab - premium was $496, which seems pretty cheap; and I just let them know about access. & modifications.I guess I won't really know how good they are unless I have to make a claim. Unless somebody out there has dealt with them......

Cheers
Alleycat
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FollowupID: 14795

Follow Up By: Phil G - Friday, Jun 13, 2003 at 19:03

Friday, Jun 13, 2003 at 19:03
Alleycat,

Your aftermarket turbo is the problem. Insurance companies hate them - even on a diesel.

Phil G
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Follow Up By: Truckster (Vic) - Friday, Jun 13, 2003 at 23:12

Friday, Jun 13, 2003 at 23:12
Price sounds good to me, is that Agreed Value, or ....
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Follow Up By: Allyn (Pilbara) - Saturday, Jun 14, 2003 at 16:44

Saturday, Jun 14, 2003 at 16:44
Phil
Why would insurance companies have a prejudice against after market turbo as opposed to factory?
Mind you why do they have a prejudice against anything?
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Follow Up By: Phil G - Saturday, Jun 14, 2003 at 17:47

Saturday, Jun 14, 2003 at 17:47
Allyn,

Its not so much a prejudice, but the numbers show that vehicles with turbos are more likely to have crashes. I don't know what he numbers are like for 4wds, but maybe Hiluxes with aftermarket turbos have a worse crash history than standard vehicles.
They may be just extrapolating this from the 2wd experience.

AAMI will only insure my Prado TD for drivers over 25. If I had a V6, it wouldn't have that restriction. They told me it was because it had a turbo. I explained that it was less powerful than the other Prados but thats what they think.

Phil
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FollowupID: 14859

Follow Up By: Truckster (Vic) - Saturday, Jun 14, 2003 at 22:14

Saturday, Jun 14, 2003 at 22:14
Allyn, Phil is correct, but its not 4wds they mean, its the Gino brigade in lowered Honda Civics, and WRX, and Corollas etc....

The AAMI thing is news, but again the balls 100% in their court isnt it.. :(
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FollowupID: 14875

Reply By: Member - Willem- Friday, Jun 13, 2003 at 18:59

Friday, Jun 13, 2003 at 18:59
Seeing as Elders is Pastoral, Farming, Agricultural based company they probably insure thousands of farm vehicle with all sorts of mods and therefore they might base their risk as minimal with highly modified vehicles. Elders is also a rural bank and has been a stable company in the past. I don't think that you should worry about a payout being rejected.Cheers, Willem
Never a dull moment
AnswerID: 22452

Reply By: desert - Friday, Jun 13, 2003 at 19:57

Friday, Jun 13, 2003 at 19:57
Friend of mine has been waiting 3 months for an assessor to look over the vehicle. Elders sub-contract their assessors out. Friend has lost track of follow-up phone calls, searching for a firm date. Needless to say, he will not be renewing the policy with Elders and he will therefore lose on his claim for damage. A rock and a hard place, he will just have to wear the loss and spread the word that Elders have not honoured their end of the policy agreement. Makes it hard when the broker is also a friend!
AnswerID: 22462

Reply By: Allyn (Pilbara) - Friday, Jun 13, 2003 at 22:11

Friday, Jun 13, 2003 at 22:11
I am going down the road of quotes with Elders currently and as you say Alley Cat - as long as I've told them about mods they've no problem insuring the vehicle. Price I cannot tell you about as it's still in the pipeline but they were cheaper by 50% on my household & contents insurance. Had to make a claim on that within days of taking out the policy and their assessor has been most helpful. Claim has only just been settled (in principle) but that was predominantly my fault. Others around here have been impressed with their service also.
Hope this info helps
AnswerID: 22478

Reply By: Member - John- Saturday, Jun 14, 2003 at 00:11

Saturday, Jun 14, 2003 at 00:11
I used Elders Insurance for house contents as I live north of the 26th parallel in WA and many insurance companies including the RAC would not touch it.

For 4WD insurance the only sure solution is the policies endorsed by the state and national 4WD club associations. I went through DGA Insurance Brokers and got good service and a competitive policy. www.dgainsurance.com.au

JohnS
AnswerID: 22482

Follow Up By: KiwiAngler - Saturday, Jun 14, 2003 at 08:37

Saturday, Jun 14, 2003 at 08:37
I too am insured with DGA and my list of accessories and modifications is about a page long including an aftermarket turbo and they have covered me for on-road and off-road anywhere in Aussie. Yes it is all in writing including the list of accessories. Because of my rating and history, premium for Toyo GXL 4.2lt is $870.This was well under any other quote I receieved
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FollowupID: 14834

Reply By: jonny dontknowmuch - Saturday, Jun 14, 2003 at 08:28

Saturday, Jun 14, 2003 at 08:28
i got quiet concerned after reading this thread at the start of the year so i rang up my then insurer (NRMA) and asked am i insured the answer was yes we dont care how it happens on road and off so i asked if i could have it in writing they said it is read the policy and sure enough it said words to the effect of (i carnt recall the exact words) on or off road so i was happy with that and for the price i was paying at the time they would of wanted to of covered me too.
AnswerID: 22489

Follow Up By: Member - John- Sunday, Jun 15, 2003 at 19:00

Sunday, Jun 15, 2003 at 19:00
Johnny,

The caveat on NRMA & RACV polices (same underwriter) is that the vehicle must have been operated within the manufacturers design limits. So fording a creek greater than the mfr specified fording depth means no cover when yor dear fourbie finishes up some place downstream.

A raised vehicle will indeed be able to ford greater depths, but it's centre of gravity has also been raised, so when you slip sideways and roll down some slope into a tree you will be left with the liability because your vehicle mods DEGRADED the mfrs design spec on lateral rollover stability.

One can go on and on about the myriad ways insurance companies can interpret the policy in ways to avoid payaouts.

A 4WD policy from DGA or TCIS eliminates this issue because any or all mods are OK so long as the vehicle is roadworthy.

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FollowupID: 14905

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