Weird insurance business

[Forg]

I am not hesitating with that...but whether I should go nrma market value vs Shannons agreed value at 50k

The price difference is significant between these two... $600 bucks...

I guess i just answered my question

Don't forget that Skylarking loves an argument, so the prospect of arguing with an insurance company over the dodgy offer they've made for a Market Value policy is probably a feature/inclusion of an insurance policy that he is happy to pay extra for ...

If it were me, I'd check with Shannons about the cost of moving EVERYTHING over. Multi-policy discounts have meant that Shannons is the cheapest insurer (that will actually pay out if I claim) for all my stuff, I've checked about every 2nd year.

Another alternative is to find another specialist insurer. This is where my suggestions peter off, I know there's at least one that used to be underwritten by Suncorp but who had to change early last year ... whatever this insurer is, I've heard good things since they found a new underwriter. I think it may be Enthusiast, but not totally sure on that.

Finally ... I think NRMA's systems are just munted. They're behind the times. If the source of their valuations is an industry price-guide and the industry price-guides are saying values are $10k higher, I reckon NRMA just haven't updated the data in their system recently enough. I'd try a few other of the majors, and find someone else who'll give you the correct Agreed Value (but will also let you use your own repairer I guess).

 

[Skylarking]

Don't forget that Skylarking loves an argument, so the prospect of arguing with an insurance company over the dodgy offer they've made for a Market Value policy is probably a feature/inclusion of an insurance policy that he is happy to pay extra for ...

I don’t love an argument so much as I hate insurance companies so don’t want to give them one cent more than is needed

In any case, isn’t loving arguments a basic characteristic of many forum members? At least I try to not be insulting to other members, hopefully that’s the case

 

[tommy_z]

So my Director is insured with NRMA and I had a maximum agreed value applied to it last July at $65k. Of course that’s gone right up now. I called NRMA a few months back and the lady told me the maximum NRMA could pay on market value is $81k. I asked immediately to be changed to market value and that was done no questions asked for the rest of my term at a saving of $200.
I hardly drive mine so quite easy to justify the highest value for a payout.
Just be wary of insurers providing own repair options as that’s really getting lower and lower for choice sadly. So many horror stories you read about crap repair jobs from the ones used by Suncorp and AAMI.

 

[mpower]

So my Director is insured with NRMA and I had a maximum agreed value applied to it last July at $65k. Of course that’s gone right up now. I called NRMA a few months back and the lady told me the maximum NRMA could pay on market value is $81k. I asked immediately to be changed to market value and that was done no questions asked for the rest of my term at a saving of $200.
I hardly drive mine so quite easy to justify the highest value for a payout.
Just be wary of insurers providing own repair options as that’s really getting lower and lower for choice sadly. So many horror stories you read about crap repair jobs from the ones used by Suncorp and AAMI.

do NRMA offer choice of repairer like Shannons?

 

[Ron Burgundy]

Useless...

 

[mpower]

Useless...

don't forget they have access to buy and sell guides. not just dreamers listing on carsales.

 

[Ron Burgundy]

don't forget they have access to buy and sell guides. not just dreamers listing on carsales.

Yes...but i am using redbook as a guide, not the adds really.

How does RedBook.com.au determine quoted prices?
RedBook's price guides are determined based on extensive research. This often involves sourcing sales data through auction houses, motor dealers, manufacturers, field research and major automotive classified websites in Australia. This vast volume of data is then reviewed by RedBook's expert pricing panel each month and pricing in our database is updated to reflect any adjustments.

 

[mpower]

Yes...but i am using redbook as a guide, not the adds really.

How does RedBook.com.au determine quoted prices?
RedBook's price guides are determined based on extensive research. This often involves sourcing sales data through auction houses, motor dealers, manufacturers, field research and major automotive classified websites in Australia. This vast volume of data is then reviewed by RedBook's expert pricing panel each month and pricing in our database is updated to reflect any adjustments.

then if you aren't happy with their valuation, switch - you don't owe NRMA anything.

 

[Ron Burgundy]

then if you aren't happy with their valuation, switch - you don't owe NRMA anything.

I will...
Just thought they would do something out of ordinary to explore ways to retain a customer after thousands spend with them over the last 15 years...
Pretty naive of me

 

[mpower]

I will...
Just thought they would do something out of ordinary to explore ways to retain a customer after thousands spend with them over the last 15 years...
Pretty naive of me

banks and insurers don't care, they spend more on new business over retention by a long shot.