Help! Alternative insurance recommendation

Submitted: Thursday, Jan 22, 2004 at 16:35
ThreadID: 9954 Views:1498 Replies:9 FollowUps:6
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I know this is a hot potato at the moment.....but you might be able to help.

I too have just received my insurance renwal from TCIS who have advised that CGU will no longer cover me, and that they're now recommending Prestige. I nearly fell off my chair when I saw that they had increased my premium from $1,400 to $2,500 even though the agreed value has gone down by $11,000 to allow for depreciation. That is nuts.

So, does anyone have any recommendation for an alternative insurance provider? They key here is to find a provider that covers the following (and most mainstream ones do not):

(a) Australia-wide 4WD cover i.e. if the car gets bogged in a creek crossing offroad, or rolls in the Simpson it's covered (most insurers will only cover you if you're on a defined road)

(b) it'll also need to cover all of my aftermarket mods (which are all totally legal)

Any recommendations greatly appreciated.

Cheers,

Piers
2002 GU 4.2 TD
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Reply By: Rick Blaine - Thursday, Jan 22, 2004 at 17:21

Thursday, Jan 22, 2004 at 17:21
I'm with AMMI... I hope they cover me for stranding by incoming tide.....
AnswerID: 43997

Reply By: Member -Bob & Lex (Sydney) - Thursday, Jan 22, 2004 at 17:26

Thursday, Jan 22, 2004 at 17:26
try NRMA even though own CGU they cover mine off road & modsRegards Bob
Where to next
AnswerID: 44001

Reply By: Ray - Thursday, Jan 22, 2004 at 17:34

Thursday, Jan 22, 2004 at 17:34
RACQ cover my GQ patrol with extractors, 2 inch lift and all the extras across Aust- any where that I can drive legally. Off road is no dramas so long as your allowed to be there. My mate is covered by Suncorp the only exclussion is in any trials/speed events. Cost for the GQ is about $310.
AnswerID: 44004

Follow Up By: Member - Nigel (QLD) - Friday, Jan 23, 2004 at 23:58

Friday, Jan 23, 2004 at 23:58
I went with RACQ too - they sent out an assesor to do the agreed value.

Does Suncorp also exclude 4WD parks?
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FollowupID: 306407

Reply By: Member - StevenL - Thursday, Jan 22, 2004 at 22:27

Thursday, Jan 22, 2004 at 22:27
25 hundred bucks!!! You must be trying to insure a Leopard Tank (RRP about $1.2m).

I'm not sure what you are driving but the quote for my Prado insured for 59k through Toyota Financial is $795 garaged in Adelaide with Rating 1 driver (60% NCB). That covers me on all public roads/off road publicly accessible areas. Only accessory is bull bar as yet though. I would be shopping around if I were you.

StevenLPrado GXL TD Manual
It's on order, Delivery in April '04.
This pic will have to do till then. Can't wait!!!
AnswerID: 44047

Follow Up By: Member - StevenL - Thursday, Jan 22, 2004 at 23:08

Thursday, Jan 22, 2004 at 23:08
Did some calculations and worked out the cost of my quote for a driver without No Claim Bonus. $795 / 0.4 = $1,987.50. That's nearly 2 slabs a week!

If you don't have NCB and you have a few mods then $2,500 is probably close. You might be better off taking Willems advice. Go 3rd party only (just in case you hit a Mercedes), drive carefully and pay for your own damage as it occurs.

It's highway robbery (literally)

StevenL Prado GXL TD Manual
It's on order, Delivery in April '04.
This pic will have to do till then. Can't wait!!!
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FollowupID: 306282

Reply By: Willem - Thursday, Jan 22, 2004 at 22:57

Thursday, Jan 22, 2004 at 22:57
Easy...I advocate NO insurance. Drive carefully and make sure that you do not hit anything and take care that nobody hits you. If you do bump your vehicle repair it at your own cost. There are so many 'what if' variables in life that you cannot cover everything. Stop stressing and dump the insurance companies.

Cheers,
Willem

Always going somewhere
AnswerID: 44053

Follow Up By: Bitsumishin - Mike A (WA) - Thursday, Jan 22, 2004 at 23:22

Thursday, Jan 22, 2004 at 23:22
me thinks very naive Willem. I wish you good luck, sounds like you're going to need it.Here's Mud in your Tyre
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FollowupID: 306284

Follow Up By: Willem - Friday, Jan 23, 2004 at 11:54

Friday, Jan 23, 2004 at 11:54
Mrsbushi......I see that some of the words describing ' naive ' are 'unaffected or amusingly simple" That is what I advocate...simplicity. Yep, luck has been on my side for a while now after the last hassle with an insurance company in 1981....I have not insured any vehicles since that time. Will my luck run out....who knows?...who cares?.....I don't care and I will not be dragged in to believing that I have to conform to what society perceives to be the norm. Dare to be different...be responsible for your own doings.....be master of your own destiny.....be a person of ACTION not REACTION.
Have a nice day :-)

Cheers
Willem

Always going somewhere
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FollowupID: 306327

Reply By: Truckster (Vic) - Thursday, Jan 22, 2004 at 23:12

Thursday, Jan 22, 2004 at 23:12
I Suffered the same fate not long ago. (start of Jan)

Im with Unique Car Insurance now Via TCIS..
Email Ken@tcis.com.au he is the director, tell him of your concerns, and how far he can jam it (joking). he is very good and fair.

They actually would have sent you 2 quotes, if you read the other bits of junk in there, there would be another quote

what car is it your in, accessories, and specs? $2500 seems a little steep, or do you have 20 DUI's and 300 loss of licenses.. It dont make sense. Call Prestige yourself and see what you can get...

Theres also a few 100 threads on Outerlimits4x4.com at the moment on the same issue.
AnswerID: 44057

Reply By: Member - Bear - Friday, Jan 23, 2004 at 01:32

Friday, Jan 23, 2004 at 01:32
I obtained a quote from TCIS in December for my $70K prado on full 60% garaged in Syd Metro with Quik Traks Alarm and the price was $3800.00

Told the guy he was kidding and he requested that I complete a quote request and return same for a better quote - never received either a return phone call or email - gave up and paid $1197. from AAMI (against my will as I would rather be involved with a specialist 4WD insurer).

Good luck because its pot luck with a group of jerks.....

Bear
BEAR
AnswerID: 44060

Reply By: landie - Friday, Jan 23, 2004 at 10:58

Friday, Jan 23, 2004 at 10:58
I'm with NRMA and I'm am covered for all the things you mention, including substantial (and legal) after market mods. The notation that main stream insurers do not do this sort of business is simply incorrect.

The mistake often made is that people want the underwriter to detail every scenario that they will cover you for which simply isn't possible or for that matter needed.

The key is, if the policy does not exclude it, it is included.

My view is that you are far better off with a mainstream insurer when it comes to making a claim.

AnswerID: 44081

Reply By: piers hs - Friday, Jan 23, 2004 at 11:00

Friday, Jan 23, 2004 at 11:00
Many thanks to everyone for recommendations re alternative insurance providers. Thought you might appreciate me sharing the outcome of investigations.

You will recall that shock horror TCIS wanted to increase my annual premium from around $1,400 to $2,200.

This is for a 2002 GU 4.2 TD with lots of accessories - agreed value $70,000. I'm 32 years old, live in Sydney, have never made a claim and have a relatively clean driving license (one or two minor speeding offences).

Prestige quoted the $2,200

Australian 4WD Insurance quoted: $3,000

CGU won't cover me anymore because I've more than $5k in mods

Allianz quoted $3,665

And then surprisingly NRMA came up trumps with $1,611 at the agreed value of $70k covering all the mods. And the best bit is that this is for full Australia-wide 4WD off road cover (the only exclusion is competition driving) - to quote the guy, "I can drive off a waterfall and be covered". I would also get a further 10% discount from them on both the car and home insurance if my CTP was with the NRMA too.......

Cheers,
Piers
AnswerID: 44082

Follow Up By: Willem - Friday, Jan 23, 2004 at 12:01

Friday, Jan 23, 2004 at 12:01
If you have the money to buy a $70,000 vehicle then you should have the money to pay the insurance premium. Simple as that.

Willem

Always going somewhere
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FollowupID: 306328

Follow Up By: landie - Friday, Jan 23, 2004 at 13:17

Friday, Jan 23, 2004 at 13:17
Piers

I rest my case.
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FollowupID: 306336

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