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Weird insurance business

Subju

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NORTI

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I have old stuff with agreed values, this years renewal just came in 3/5 cars with Shannons had the value dropped by $1 each. Monthly premium is .02 cheaper than last year.

interesting that I don't know when the excess changed, but my VS Senator has a larger excess than the rest of them. assume due to limited use and HSV tax possibly?
 

figjam

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Just took out 3rd party property insurance.
VE Series 1 clubsport manual tourer valued at 24.5k.
$250 premium, 43 yo. 10k if it gets stolen, 5k if they at fault and dont pay.

So you are satisfied with taking a $15K > $20K bet on not having an expensive bingle.

Never again for this little black duck. Saved money initially by doing that, only to have fork out for at fault repairs less than a year later.
When our daughter inherited our just about clapped out Barina about 5 years ago, she swapped to TPP, saved a couple of hundred, then found that her CTP went up by about an equivalent amount.
 

Subju

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Subju

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stooge

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The only thing I'm worried about is running into a Lamborghini. Worst comes to worst, I can live with losing $20k. I drive carefully, my wife and I are good and careful drivers and mathematically, its better to have TPP.

There are many vehicles on the road that are easily 100k+ and the repairs on some can be quite expensive so it is not just lambos to be worried about.

the thing with insurance is we always wonder if it is really worth it until we need it to payout.
Many people make the mistake of either not getting insurance at all or getting the wrong level of cover and sometimes it bites them.

I used to think that way and i wondered if it was really worth paying for top home and contents.
I always thought i am responsible and i dont leave crap running or smoke or light fires and i live in a country town thats quite with hardly any severe weather etc.

Then the guy next door passed out with a smoke or something and set his house on fire which spread to my house and took out my house too at 4am and within 30 mins all i owned was a pair of shorts.


The insurance paid out the entire policy for total loss which was more than 400k and now i know the value of insurance ;)


This was the next day...
 
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Subju

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Kakodaemon

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Going through this myself.
Bought my 2016 VFII Redline November last year insured with RACV for $1293.52 agreed value $46,000.
Now they want $1369 and dropped the value to $32,550. Absolute madness.
I know people don't like using carsales as a pricing system but i bought my car for $46,990 with 38,xxx kms on it.
I just ticked over 50,00kms and there are cars on carsales with 70,000+ kms advertised for $50,000+
Am i missing something? Maybe I should park her up and buy a beater?
 

Forg

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Going through this myself.
Bought my 2016 VFII Redline November last year insured with RACV for $1293.52 agreed value $46,000.
Now they want $1369 and dropped the value to $32,550. Absolute madness.
I know people don't like using carsales as a pricing system but i bought my car for $46,990 with 38,xxx kms on it.
I just ticked over 50,00kms and there are cars on carsales with 70,000+ kms advertised for $50,000+
Am i missing something? Maybe I should park her up and buy a beater?
You need to talk to RACV about it, IMHO.
Or take your business elsewhere.
I personally don't think you'll get a good condition VFII SSVR for ~$32k, should you need to replace it. Not even an auto sedan (only chosen because it's the most common combo). And I'm NOT one of those people who talks-up the value of a vehicle because they happen to like it & has a rose-tinted view of it's worth ... it's simply a case of V8 Commodore prices being higher than anyone with experience in used pricing has ever seen before.
 

Kakodaemon

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You need to talk to RACV about it, IMHO.
Or take your business elsewhere.
I personally don't think you'll get a good condition VFII SSVR for ~$32k, should you need to replace it. Not even an auto sedan (only chosen because it's the most common combo). And I'm NOT one of those people who talks-up the value of a vehicle because they happen to like it & has a rose-tinted view of it's worth ... it's simply a case of V8 Commodore prices being higher than anyone with experience in used pricing has ever seen before.

I was going to call them but AAMI will do full coverage for $1100 and best agreed value either RACV or AAMI will do is $44,590.
AAMI have free roadisde assistance in their price so they are winning so far but RACV say the cover your modifications whereas AAMI say we cover your legal modifications. It is stock at the moment but going the standard OTR and exhaust soon(ish) so not sure if i should be worried by AAMI's wording or not.
 
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