Insurance time, again! Early GU owners, who do you use?

[jay see]

After a few days back and forth between my broker and I we have come up with this.

Quote from IAL.

Vehicle Agreed Value $11,400 plus the value of the accessories and modifications.

Accessories/Modifications $5,610

I told them that it's a 4wd and will be used as one on tracks and through river crossings this is there response.

IAL covers 4wd for personal use only, but please note the following exclusion: Pg 22, point 7 in the motor PDS:

Motor sport*“being used for any motor sport or time trial, or was being tested in preparation for any motor sport or time trial or on a track or club days.

I will recheck with them about being on dirt tracks.

Premium $1476.00 or $129.00 per month
$600 access.

Does it matter what accessories and modifications are listed, seeing that the rest are part of the agreed value?


Sent from my CPH1979 using Tapatalk

[mudski]

After a few days back and forth between my broker and I we have come up with this.

Quote from IAL.

Vehicle Agreed Value $11,400 plus the value of the accessories and modifications.

Accessories/Modifications $5,610

I told them that it's a 4wd and will be used as one on tracks and through river crossings this is there response.

IAL covers 4wd for personal use only, but please note the following exclusion: Pg 22, point 7 in the motor PDS:

Motor sport*“being used for any motor sport or time trial, or was being tested in preparation for any motor sport or time trial or on a track or club days.

I will recheck with them about being on dirt tracks.

Premium $1476.00 or $129.00 per month
$600 access.

Does it matter what accessories and modifications are listed, seeing that the rest are part of the agreed value?


Sent from my CPH1979 using Tapatalk

Thats a lot for the little its insured for. Mines covered for $56k, give or take a k, and my premium is not much more. Over insured, maybe, but well covered incase it does get written off. I reckon you could get it cheaper.

[jay see]

We started with a list of about 8 or 9 insurers. Now that I know what market value is, about 9k plus accessories and modifications another 12k. I'm happy with the total value, I reckon I can replace it with 15 odd grand, but yeah does seem a little high. Will revisit the others that were in the list.

Sent from my CPH1979 using Tapatalk

[jay see]

Ok it's done.

What I got from my broker was the most expensive being just over $3,000 to the cheapest at $1476 to having a quote declined due to the amount of extras. I asked if she could get a quote from club 4x4, but they don't deal with them so I request on myself.

Ended up with a premium over $250 less at $1200 and a full list of all modifications and accessories totalling $12,000 and all the usual features offered by club.

So...
I'm now insuranced with club at agreed value of $10,000 and $7,000 of mods/acc. Giving me the $17,000 total same as the others. By adding my wife as a listed driver it brought down the premium my about $200. Which some has been counterbalance by opting for monthly payments.

This is the best value I can get for with a 23 year old car that has more mods/acc than what the market value is and for where it's parked and all the other information that all insurance companies want.

Will give it the year and see what the renewal looks like.

Sent from my CPH1979 using Tapatalk

[mudski]

Well done mate. Yeah check next year as the premium on mine is around $400 than when I first signed up.

[10G]

Last year I spent weeks looking at policies, read through all the PDS's and all. Found most PDS's were ambiguous, vague and easily open to misinterpretation, but understandable.

I actually made up my mind to switch to club 4x4 for no other reason that at least they know what you're talking about. If I were to ring them up and say I'm on the Magigan and the thing won't start, they'll know what I'm talking about.

I spoke with several insurance companies last time and they just had no idea what I was talking about when I mentioned things like, crossing the Simpson or getting stuck at Billiluna. If it was outside Sydney or Melbourne and it wasn't a car they were so darn confused.

I just thought if I was stuffed and stressed and in the shite, the last thing I want to do is explain where I am, what I'm doing and what my vehicle is.

All the insurance companies offer pretty much the same thing, but I concluded that if you want to insure something that isn't the same thing, it may well be worth going with someone that knows what your vehicle is and what you do with it.

But in the end I didn't switch, I got busy with other things & stayed with who I'm with. But I've done the hard work and have a plan now.

Just thought that may help others who may read this??????

[mudski]

You make some good points there mate that I haven't even considered when choosing cover. The premium might be a little more but the level of help and knowledge is higher than the regular insurer.

[jay see]

They specialised in 4wd so cater for our offrad needs. Just like enthusiast cater for my Clubsport. They wouldn't touch the patrol just like club won't touch the clubsport.

Sent from my CPH1979 using Tapatalk

[jay see]

Not patrol related...

My old man got his insurance renewal up $180 from last year. No claims made.

Coles insurance was the cheapest I could find for him 2 years ago. Now they want $953 for a 2007 Lancer. His nearly 85 years old with a good driving record.

Did a online quote with Apia and they want $1254..

Are the insurance companies raising the premiums hoping that the elderly don't realise and just pay it.

I know that there are alot of factors in coming up with the premium, but nothing has changed since last year.

Any suggestions..

Sent from my CPH1979 using Tapatalk

[PeeBee]

Insurance just in from Shannons, increased 160 from last year, rang and queried, its just the way it is, take it or leave it. I tried to ring Club4x4 but engaged, no answer to email, so stewing on this. Truck gets out 5 times a year max, otherwise locked in a garage