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View Full Version : Car Insurance Increases Due To Floods?



twr7cx
14th February 2013, 03:25 PM
I am interested to know if this has effected anyone else.

Today I received my insurance renewal letter from Just Car Insurance. This will be the third year of insurance with them. The last two years I have paid $628.00 per year for full comprehensive insurance. This year they want $1,038.00... (over 5% of the vehicles value)

So I call them up for clarification and am told that it is nothing on my end that has caused this (i.e. I have had no claims, still on rating 1, still have other vehicles insured with them, haven't moved locations or changed modifications on the vehicle), but rather they are increasing their prices to make up for the large amount of payments that they have recently made due to floods and natural disasters!

Now I understand how insurance works, and can appreciate the logic behind it, but seriously, a 60.5% increase!
I would hate to know what someone with a vehicle in a flood prone area, such as somewhere in Queensland, would be paying in insurance now...

Anyone else been effected by this?

Needless to say I won't be renewing with them, the Excess is $1,250.00 in the event of an accident, plus the Premium and that's 11.7% of the vehicles value - over a 1 in 10 chance of me claiming...

101RRS
14th February 2013, 04:48 PM
Is all quite normal - I live in the general of the Canberra fires 10 years ago - my car insurance went up 40% and when I asked why they said it was a result of the fires. I said OK but as it was clearly a one off event (nothing to burn for the next few years) and when claims in the area would reduce in the area the following year that premiums would go down - actual response from the consultant - "you got to be joking - once they go up they stay up". And they did.

Garry

George130
16th February 2013, 10:23 AM
renewals are always high. What you you do is ring up and get a quote as if you were a new customer. Once you have that quote you then ask why the renewal is so much more. I also get quotes from the competition and ask them to at least match before I change all my policies. Works every time.

mike7
16th February 2013, 12:19 PM
Mate always haggle with the nsurance companies, I talked my home insurance down by about $450, car caravan etc. I ended up saving about a grand all up.

I'd love to know where all the money has gone from the previous years where there haven't been some sort of catastrophic event. All thieves.

Cheers
Mike

Tombie
16th February 2013, 12:35 PM
Annoying isnt it..

Insurance is a Bet - nothing more or less..

"We bet you wont need to claim" You bet you will... And you pay your Wager (premium).

To blatantly **** over the consumer because they (the insurance company) "lost the bet" is just not on...

woody
17th February 2013, 08:05 AM
Just before the flood hit southeast Qld I was tasked with a survey/recon job of some of the local hotspots for flooding.
Of interest was the number of late model cars locked up and parked in the low areas. Me, being the trusting caring sole that I am, took some photo's of these vehicles and passed them over to the Police for follow up after the water had gone down.

woody