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+-- Forum: Regional Discussions (/Forum-Regional-Discussions)
+--- Forum: Australia & New Zealand (/Forum-Australia-New-Zealand)
+--- Thread: Insurance on the Evoque (/Thread-Insurance-on-the-Evoque)
RE: Insurance on the Evoque - Bomberboy - 25-04-2012 02:51pm
(25-04-2012 01:00pm)JoBro Wrote: AAMI is insuring mine for $108,450.00 roughly for about $1350.00 with an excess of like $1500, and i'm a 32yr old male, and been with AAMI for years with previous cars and home and contents with a gold rating.
Did u sign up online or via phone?
RE: Insurance on the Evoque - sethor - 25-04-2012 02:51pm
I went with RAC, ended up being $923/pa insured for $85000. I'm 28 clean driving history, rating 1 driver, NCB protection & hire car with $500 excess.
RE: Insurance on the Evoque - DefLeppard - 25-04-2012 04:41pm
I went with Buzz.
$690 with a $600 excess.
Agreed value $73999
(38 female, vic rural, 1 previous claim, business use)
RE: Insurance on the Evoque - chiggy - 26-04-2012 02:55am
(25-04-2012 04:41pm)DefLeppard Wrote: I went with Buzz.
$690 with a $600 excess.
Agreed value $73999
(38 female, vic rural, 1 previous claim, business use)
I went with Buzz too!
RE: Insurance on the Evoque - andrewcui - 26-04-2012 04:36am
I went with GIO. Just under $1200 with an excess of $700
Agreed value of $88400
Male 28yo Melbourne Metro area parked in driveway.
Main reason I went with GIO is they will do new for old for the first 2 years... also can choose your own repairer
RE: Insurance on the Evoque - JoBro - 26-04-2012 09:13am
(25-04-2012 02:51pm)Bomberboy Wrote: Did u sign up online or via phone?
Sorry confirmed it is $1,264.41 today not $1,350.00 as previously stated, and i rang them up on the phone, cause the online calculator maxes out at 90 something grand. Picking up the car on Sunday
RE: Insurance on the Evoque - DefLeppard - 27-04-2012 04:08am
Don't know whether New for Old in first 1-2 years is going to be much benefit here - as all the polices I looked at said "If a car is currently available , that matches your spec" type statement. And as we all know, there is lots available , but can you find one that is your model and spec exactly.
(and from my point of view- same colour!)
RE: Insurance on the Evoque - Barneyridge - 27-04-2012 06:01am
Notice not many from Sydney are posting...... We are paying a lot more and I have envy at all your prices
RE: Insurance on the Evoque - Bomberboy - 28-04-2012 12:06am
Well, like JOBRO who had to call AAMI because it maxes out online at $92500, I called their call centre to complete the quote.
Only, they said that the agreed value on the policy was insignificant for the first 2 years, and that the purchase price would be the important factor because it's a new for old replacement.
Even though the girl on the phone took the purchase price of the car from me, it's a little unnerving that the the final agreed value is $71500, or about $25k less than the purchase price. But she confirmed that the agreed value is not relevant in teh first 2 years due to new for old replacement.
It's unnerving I guess this is because with all online quotes, adjusting the agreed value causes the premiums to change, and there is rarely a box where you enter the purchase price.
Can other customers confirm that premiums are based on the purchase price for the first 2 years due to new for old? Or should I call back and get the agreed value increased?
RE: Insurance on the Evoque - DefLeppard - 28-04-2012 12:29am
Bomberboy - it should be stated in your PDS or terms and conditions of your policy. A pain I know, but I read these things from cover to cover.
I can't remember which insurance companies it was - but some are very crafty - e.g. they offer new for old in the first 2 years, but when you read the fine print it does say something like:
"If the exact model is not currently available in Australia, they will pay you market value or agreed value instead of replacing the car."
(This has never been an issue for me in the past as with Nissans and Mitsubishis, there is only a few options and lots of current stock.)
Market value I am always weary of - as it is essentially a license for them to pick a figure out of the air. Hence I always make sure my agreed value will cover the entire purchase price , even if i write it off at day 1.
Call me cynical, but I can just see an insurance company using the lack of your exact specced car availability being a reason why they have to give you $70K ish cash rather than them buying you a new $90k ish car.
(e.g. oh no sir, this car is not exactly the same as yours, it has rear air con vents!!!
)Oh and the other thing I learned is if you have say a $1500 policy, and your paying month by month, and you write your car off in month 1 or 2 for example, you gotta pay the remaining monthly repayments upfront to finalise the claim. (I know, sounds logical when you think about it, but having previously considered monthly repayments, i never really thought I would be up for a lump sum in case of write off)
Oh and no, I've never come close to writing off a car, Im just a worry wart! (a cynical one at that!)
An update on The Buzz Insurance.
When I signed up, my policy did include New for Old in the first 12 months, and I could choose my repairer.
For customers who sign up from 26th April 2012 onwards, both these covers are no longer offered.