Nope to all of them - no claims etc - >25yrs - standard un-mod car. not Subaru.
Probably a dud insurance crowd.
$3k/p.a. since I had the car some 7 yrs ago. Have emailed them for some answers. Always thought it was a lot never really studied it.
Prob agreed value - but if it got written off I bet the buggers would sling $1k and be done with it on basis "the cars Current Value is $1k" - which is what happened when prev car was written off (drunk driver) - insured for $8500 and got $2500.
groovebox,
Feb 23, 3:06pm
@mrfixit Thanks for that advice.
splinter67,
Feb 23, 3:11pm
Hmmm your paying 3k pa to insure a 1k car time to change insurance company
gunhand,
Feb 23, 3:13pm
WHAT! you pay $3000 per year to insure a car!And now the cars value is $1000!And agreed value still won't cost you that much. What the hell kind of car is it that costs that much! Is it so rare they could never replace it or something! Can't be if its now got a value of $1000. Something odd going on here. And who is the company! Insurance R us,C/O back alley enterprises111 you are being shafted drive.
groovebox,
Feb 23, 3:18pm
Sorry - - no - sort of.
In 200x I had a Bluebird - Full insurance - agree value of $8k at the time - drunk driver crosses line kills them, their car and my car - Insurance say "current market value = $2200 sorry". In no state to sue them etc. They explained etc - in the end I just said give me the $ so I can get on with life.
Current car was purchased after that - cost about $8k but I am sure if it was written off they would feed me the same old line and NOT give me the $8k(*). Yet I pay almost $3k p.a.! Grrrrrr.
(*) Like how does that work! Agreed value on Bluebird was $8k - car gone to car heavan - then they say "ahhh market value based on age/mileage - it's not like it is NOW worth $8k" - umm yeah - the car was 5 yrs older now and now it is dust. But I PAID $8k and insured for that $8k for 5 yrs - car go by-by - where is my $8k! Oh - $2200 - gee thanks.
The above is just to clarify.
groovebox,
Feb 23, 3:22pm
When I lost the bluebird I had to then take the $2200 and try to get a similar car to replace it - which I did not get for $2200 (I wanted a nice tidy vehicle).
After accident I was thinking (ha!) $8k payout (no claims - and accident not my fault) so I could just get something pretty close to the Bluebird and be done with it.
gunhand,
Feb 23, 3:24pm
Yeeeeeea. This is the oddest story ive heard for a while.Agreed value is just that, agreed value. However they will put the value down yearly or 2 yearly in accordance with the value of the car going down. But it is useually not alot.You have if anything a market value policy which indeed will only get you "market value" at time of death. You don't seem to forward coming in telling what it is you have insured or by whom.But anything over $500 is to much for 8k car with full agreed value policy.
bellky,
Feb 23, 3:33pm
I agree with gunhand^ anything over $500 for full insurance is to much for a car worth approx $8k. [Named main driver(s), no previous accidents or motoring convictions/infringements etc. no under 25s, excess for unnamed drivers.]
groovebox,
Feb 23, 3:34pm
Lantern / NZI insurance. $252.90/mth.
Previous was thru same (can't say what I used to pay for Bluebird but I recall it being "about the same"). (No I have no prior "history" - accidents demerits etc DIC etc)
All I say is the truth as I experienced it. I totally agree - dude I insured the car (Bluebird) for $8k - paid "full insurance" - car go by-by. Expecting an $8k payout (as you would) then they say $2250 sir - I say "why!" - they say "current market value on that make/model/yr/kms is $2200 AT THE TIME OF THE ACCIDENT" - I don't care what it was worth at time of accident. I have been paying u for x Years for an $8k car.
Like I say - had I been in a better frame of mind at the time I would have been all up in their grill / Ombudsman etc - check policy wording etc.
But - decided to just carry on and get life back in order. Hospital, deaths and stuff like that - you know.
(I mention the above just to fill in the gaps.)
groovebox,
Feb 23, 3:37pm
Which prompted my original post - I jogged by the State site last week.
Thought I would check price of JUST 3rd party (as was a discussion point at work) and thought "bloody cheap" THEN I looked at States Full Insurance and thought - "still bloody cheap". Then I went to my bank statements and thought.hang on. HOW MUCH!
Crikey. (rest of words not fit for mixed company)
Present car says "agreed value" as did the Bluebird.
gunhand,
Feb 23, 3:45pm
You would of had market value policy on the Bluebird I would think. And yes you pay the going rate year after year if you don't go and advise them its now worth $2000 not $8000.And yes for Gods sake change companys. Alot of people make that very mistake thinking they will get what they paid for the car with a market value policy.
kazbanz,
Feb 23, 3:47pm
Groovebox-My experience in dealing with insurers. They are worse than car dealers when it comes to making lowball offers when a car is written off. They work on the principle that the average person won't object to their low offers.The odd person who does object they drag their heels and make it seem as though they are doing you a massive favour reviewing your claim. My reaction has always been. "Go buy me another one for that money".-Their reaction is always--Ohh we don't do that. in answer they get.But you are asking me to do just that. Given it is in fact the MARKET value not a number you drew from thin air then I should be able to reasonably replace like with like.
gunhand,
Feb 23, 3:49pm
If indeed it says that and is correct you need to follow it up.I know excatly the agreed values of the cars I have insured. It says on the policy at the time when its due. May have been say 10k last year but now $9500or close to the 10 but at least I know.
groovebox,
Feb 23, 3:58pm
Well that is in the past now 2004 - but it illustrates a couple of valid points. Always shop around (I thought I was getting a good deal and the only claims I have had are for windscreens which were dealt with quickly).
Also the wording on these things is "legalese" at worst. Means nothing to the average Joe.
And in times of calamity - you just aren't thinking straight - and lowball offer is better then no offer - I knew at the time that $2200 was an insult and 100% agree - I could not go out and buy anything similar to my well maintained and tidy Bluebird for $2200. But felt that at that time that was best I was going to get.
Brokers are HOPELESS when I called him at the time he said "oh you have to realise that the car has dropped in value and LUCKY you for not having to pay for other person's damage" - which I realised 3 weeks after he said it was BS as it was not my fault at all. Drunk/crossed centre line etc.
Finally never deal with an insurance company who are not open 24/7. Waiting for "business days" is fine in general but inconvenient when u need assistance.
bellky,
Feb 23, 4:01pm
^ I think insurance brokers are brilliant groovebox! Well worth it. We get the best deal and they look after us :)
groovebox,
Feb 23, 4:03pm
@gunhand Do u tell your insurer what to value the car at or do they just deduct a % each year! If so - do they advise you of this! Just asking.
Mine orig said they deduct % each year of agreed value ("as the car is getting older / parts harder to replace etc") but the premiums stay the same. WTF! So assume it is down to me to keep them honest!
groovebox,
Feb 23, 4:06pm
@bellky My broker was one of the "bad ones" sadly. :(
gunhand,
Feb 23, 4:11pm
They ask what you paid for it or the value. Do a check to make sure that lines up with comparable models and go from there.They won't insure a car for 15k when its only worth 10k. But if your clever you can buy a 15k car for 10k and still insure it for 15k if it is really worth that on toadys market. I know right now that one of my cars is worth more writtin off than any trade or sale would get me LOL. But do you think anyone will hit it.
meathead_timaru,
Feb 23, 4:41pm
You don't have to accept an offer made by an insurance company.
lookoutas,
Feb 23, 7:23pm
3K/year is a total rip-off - you need to visit Fair-Go. There should be some reimbursement due here. The next problem OP, is you must be the most gullible hombre out there. All you need on a car less than 3K, is third party.
I couldn't believe your first comments in #38 kaz! :-)
a.woodrow,
Feb 23, 7:50pm
Not so with state, I claimed two driving lights and they were covered under the glass policy, not bad as they were $150 each
mrfxit,
Feb 23, 8:23pm
Mmmmm interesting, altho they were not headlights j just a thought
smac,
Feb 23, 8:37pm
Lost a fog light on the Falcon - not covered.
groovebox,
Feb 23, 8:48pm
Both cars were originally insured for >$8k FYI.
Back when I insured the Bluebird full insurance was hell expensive - with replacement car again it was >$8k so when they insured that for around the same monthly I thought it was OK.
Like I say at the time my Bluebird got wiped out I was not really able to comprehend a lot of stuff going on!
But I agree - should be checking insurance costs every year or so thats for real!
PS - when I insured the new car we were still "in talks" regarding the payout - so I rushed and got a car of approx same tidiness/value/engine/type pretty safe I was gonna get my full payout. Sigh.
rpvr,
Feb 23, 9:29pm
Which company provides third party cover for $85!
Since the public registrations are closed, you must have an invite from a current member to be able to register and post in this thread.
Have an account? Login here.