Insurance

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Originally Posted by Dutch77

The $2k theft excess thing forced me to look elsewhere.

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Worth checking out SGIC for SA people these days.. if I'm willing to cop a higher excess ($800) then their policy comes in at the grand sum of $395. And that's still with no claim bonus protection, two years new replacement, and various other extras that a few other companies weren't offering. And most importantly it includes legal modifications - most others weren't providing cover locally apart from Shannons and limited with RAA.

Compared to the $750 odd from Allianz (and the $1k+ VW/Allianz dealer quote), the $1k RAA quote and the $1k CGU quote we have a winner.

Here are some comparison quotes that I've done on the Mk7 R (full options):

- NRMA (I've had roadside with them for 6 years now and prior car insurance was with them): $915
- AAMI (Current car insurer for 6 years): $1,250 :facepalm:
- Allianz: $1,160
- Bingle: $1,550!!!
- Suncorp: $1,300
- youi: $789 :banana:

All quotes are comprehensive on market value for 2 drivers (late 20's) listed, perfect driving history, and no extras (hired car, windscreen etc.), and youi's quote already includes hired car for a maximum of 14 days (on theft claims). Excess is $725

It's obviously worthwhile to shop around!!! Has anyone gotten anything better?

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Originally Posted by anduril

Here are some comparison quotes that I've done on the Mk7 R (full options):

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It's obviously worthwhile to shop around!!! Has anyone gotten anything better?

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As above, and Mk7 thread, $570 policy with $450 excess including options and any mods for an R.

My issue with the new sub brands like youi and Justcar is there insistence on using their repairers, as often this will not equate to where I'd want my car fixed, and with the right parts.

I got a quote from Bingle today - ~$590 - $650 excess - no extras - For a new Mk7 GTI Leather Sunroof.
Both drivers +40 good history - not garaged either, in Beaumaris Vic.

I think Bingle force you to use their repairers though? That's a big no-no as people have seen with other companies that do the same.

Their basic no mod policy is a killer too.

QBE anyone?

New for old within a 24 or 36 month period.

This is only applicable to vehicles that have just been newly registered or are sold as a demonstrator vehicle.

There are conditions around when a vehicle is replaced under this condition. Naturally a vehicle needs to be deemed a total loss by the insurance company providing this feature on their policy. Your policy will come to an end no matter who is deemed 'at fault' and no refund is provided for the balance of the unused portion. In the event that you pay your premiums by the month, you will be required to pay out the balance of the policy term. The reason being is that when an insurance company replaces your vehicle or pays you out, then they are allowed to keep the years premium for that vehicle.

Upon deeming the vehicle a total loss, the insurance company will make the insured (customer) an offer to replace the vehicle and pay all of the on-road costs for the first 12 months in that customers state or territory.

If the customer accepts, the insurance company will then contact the manufacturer for stock availability. They will be searching for the exact same, make and model including all necessary options and paint type. In the case of the Golf, for customers with the standard or Comfortline models, this usually won't be an issue sourcing one... for customers with special vehicles with a host of options such as the Highline, GTI and R models, the search as a lot of people would know becomes harder.

The insurance company has 21 days to close off the claim. This means that once they deem the vehicle a total loss, they have 21 days to find you a replacement vehicle and put it on the road. If one is not available, you will then be paid out your agreed value or market value depending on the way you were insured. Your finance company is always paid out first, and the balance is transferred to the insured. Remember, your insurance company is not going to keep a claim open while you wait 3 months for a vehicle to be made available from abroad and supply you with a hire car (if you have this option on your policy) for the full duration of the wait. One of a insurance companies measures is how fast they open and close claims.

If you are insured for a market value but owe more then the insurance company is willing to pay based on the fair and reasonable value for your vehicle at the time of loss, as your contract with your finance provider will come to an end (your insurance company will notify them and the vehicle will be noted on a total loss registerer), you will have a short fall. Your gap insurance would cover this, if you do not have gap cover, then you will be liable for the difference straight away as there is no longer any 'security' on the loan.

One should never rely on the 'new for old' feature. This is a great one for a mainstreem vehicle that is readily available, but for any special vehicle, or one that is optioned, your best option is to always insure for an agreed value, to cover your financial committment.

My new for old is for an unlimited time. As long as I own the car and it gets written off Suncorp replace with new. It only added $12 a year to the cost. Paid $537 with free windscreen, hire car and $600 excess. I don't reckon I'd have much trouble sourcing a base manual.

I still am amazed that I got comp insurance for my week old Comfortline DSG from NRMA for $242. I get a 17.5% multipolicy discount but this seems dirt cheap???

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Originally Posted by DeboDasAuto

I still am amazed that I got comp insurance for my week old Comfortline DSG from NRMA for $242. I get a 17.5% multipolicy discount but this seems dirt cheap???

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'DeboDasAuto',

This seems like a fantastic rate for full comprehensive car insurance.

Question: were you previously insured for another vehicle with NRMA and traded in the vehicle? This figure sounds like a changeover figure. Its called a 'change of vehicle' where you change the vehicle on your policy a mid point (12 month contract). You then pay a pro-rata amount to cover the new risk (vehicle).

If this isn't the case and its a 12 month brand new policy... triple check they haven't accidentally sold you a third party policy. If its full comprehensive, then well done!