Insurance Fun & Games

[ultim8DTM5]

Okay its coming up to renewal time, and I've decided to shop around.

I've never held a policy before and I've been an unlisted driver on the previous policies on the car.

What I'm looking for is Comprehensive w/ a sizeable value for one accessory.

So far I've tried-
-NRMA ($2100p/a, $15k agreed value)
-CGU (Declined)
-JustCar ($2396p/a, $10k value, no stereo cover)
-Young&Cool (Waiting for quote)
-Shannons (Waiting for quote, unlikely)
-BudgetDirect (Declined)
-Motor Car Insurance (Declined)
-Unique (Declined)
-Suncorp ($5500p/a, $14k agreed, $3000 accessories)
-CommInsure (Declined)
-Allianz (Declined)
-GIO (Waiting for quote)

Now I've been putting in 0% NCB because I haven't held a policy before.
I haven't had any license suspensions or cancellations nor have made any fraudulent claims etc.

So far
-NRMA quoted 45% NCB agreed value for $15k $0 accessories.
-Suncorp quoted agreed value $14k + $3k accessories. ($3k is the accessories limit, highest I've found so far but not high enough)

What I want to do is insure my electrical accessories for their total amount. Unfortunatly it is very difficult for me to do.

Can anyone lend any advice or point me in the right direction?

[kirssn]

with most insurance companies, you get a ncb rating dependent on the number of years you've been driving now, not whether you have been on a policy before or not.

as for insuring your electrical accessories for their total amount, you may have to come to an agreement with the insurer whereby premium increase OR you may have to agree to lower the % insured say from 100% to 75%.

[NUTTTR]

Pete, pretty much what they will do (like above) will actually reduce the total value of the car....... $3k is the limit i found too, for everyone but NRMA, they did 6K, then took it back and told me not to bother renewing!
Oh well :(

[Anonymous]

Petey, your best bet would have to be a broker.

Have fun last night? LOL

[ultim8DTM5]

Chalked up another declination :P
JustCar got back to me, check first post :roll:

[Anonymous]

wtf, just cars denied you?

[ultim8DTM5]

Nah Unique declined me. But the guy was nice and polite about it, it was a human declination not automated.

JustCar won't insure the stereo :cry:

[GOZOFF]

Better still put that 2K or more in the bank don't touch it and do the same every year until such time as you would make a claim then use it for that and only that. Simple :wink:

[Anonymous]

you must be able to get insurance, hoqw bout those guys with old 808's running serious gear motorwise, or some of the cars at street machine.... they would have to have their car insured, with mods totalling more than 25% of the cars value.

Even if thats the case, then I'm screwed as well if they refer to redbook for car value.

[Anonymous]

at least these insurance companies listern to u pete they just laugh at my corsa/c

[ultim8DTM5]

Better still put that 2K or more in the bank don't touch it and do the same every year until such time as you would make a claim then use it for that and only that. Simple :wink:

Sorry Davide your theory is flawed. If something happens in the first or second year, you are ****ed.
Say year 1 you have $X, year 2 you have $Y.
If you have a large accident which is $Z, you are left with a wreck and only $Y.
Doesn't balance.


you must be able to get insurance, hoqw bout those guys with old 808's running serious gear motorwise, or some of the cars at street machine.... they would have to have their car insured, with mods totalling more than 25% of the cars value.

Even if thats the case, then I'm screwed as well if they refer to redbook for car value

Those guys are either
a) 3rd Party only which makes sense as the car is hardly driven
b) Full comprehensive through Shannons or similar boutique insurer with a "low kilometers" specification which lowers premiums for static vehicles

My car is driven daily.
I'm <25.
I'm male.
I has accessories in the region of 70% of the vehicles overall market value.

Teh suk. :cry:

[Slimcraigie]

Thats one of the reasons I got married :D she sorts all that stuff out :shock:

[SSS_Hoon]

good luck man, nrma will insure 25% of total amount insured for accesories, so if your car is insured for 10k u can have upto 2.5k in acc.


SSS_Hoon

[Namus]

man that sucks....

[OPCVXR]

Have you just asked for an Agreed value? Tell the insurance company you want to cover $25 tho or more and you premium will go up but there should be no need to list your mods as it is an agreed value policy. Then if your car is stolen your get your money and buy another.

I love tearing insurance company's new as*holes so if you need me to call for you I am happy too. I guess it also depends if you have any speeding fines in the past 5 years or lost ur licence b4

[ultim8DTM5]

I haven't had any license suspensions or cancellations nor have made any fraudulent claims etc.


Pitch: the only problem is with agreed value, if someone breaks into the car and steals the equipment they do not write off the car.

[OPCVXR]

Then Im all out of ideas!

I hate insurance companies! Just wanted to get that off my chest!

[ultim8DTM5]

Similar thing about lawyers, except we all need them when the shit hits the fan

[ultim8DTM5]

Ok this officially sux.
I was given the run around by NRMA, first my stereo was OK under agreed value, NOW it is too expensive altogether :evil:

GIO said they can't cover me, but if they could my premium would be $9800p/a!!! :bang:

Anyone know companies that cover 3rd Party Property Fire & Theft? I can't find anyone who does it.

[Degen-Astra]

I know when I went for insurance the first time I got a 10% for FAMILY BONUS, cause my dad was insured with the same company...which he has since left. See who your parents are under.
Also do Shannons do insurance or are they just a specialist broker for Allianz?

[ultim8DTM5]

From Shannons website, they only offer insurance for drivers OVER 25. Even if my dad took out the policy, I couldn't be listed.

Family thing doesn't mean anything anymore.