Insuring your Landy

Jock The Rock · 3rd October 2009, 12:21 PM

Gday

After rolling my original Defender last year I purchased a new one. This one had low kms (70k) and because of that I paid a bit extra ($15000)

I had a lot of trouble insuring this and finally got an agreed value of $14000 out of an unnamed insurance company. This was the same company that handled my previous claim and I was very happy with there service

Now the problem

I just got my bill yesterday (12 months on) and my agreed value has dropped to $8600. I rang up and had a chat, apparently the agreed value drops over time. I can understand this, but not $5000 a year

I am no longer a happy customer and the lady is calling me back on Monday to see if she can get me a higher value. I will ask to talk to someone higher up and give them a razz up about this

Now my Landy still has lowish k's for that year and I've put close to $5000 worth of accessories on it as well. I am thinking of threatening to tell this mob to stick it

Now I'd just like to know, who are you insured with and do they look after you? Bearing in mind I'm in Tassie

The other issue I have is I'm in the lower age bracket and have previously had an accident. Which racks the bill up a bit

A while ago I read in a thread about an insurance company that will insure my car for what I think its worth and seemed a pretty good mob. The bugger is I can't remember what they are called. Anyone got any ideas?

Thanks

**catch-22** · 3rd October 2009, 12:26 PM

If you are having trouble, go to a broker...let them do the running around and negotiating.

Agreed value may not mean that...some insurers will state agreed value but take in to account market value when the claim is made (or so I am told).

**Slunnie** · 3rd October 2009, 12:43 PM

The value doesn't drop by 40% on a new car, let alone one that has 70k on the clock. Sounds like you will have to do the negotiation process every year.

I'm with Dga Insurance, they dont insure anyone under 25 AFAIK.

**Chucaro** · 3rd October 2009, 02:03 PM

My Defe is 1994 and it is insured for $16500 with API
Next January I will have to renew the policy, if they play stupid I will show them the finger and walk out from them.

**Michael2** · 3rd October 2009, 02:07 PM

I had mine insured for agreed value with RACV, $18K PLUS Accessories, when it came time to renew they made it $14,800 INCLUDING Accessories. I rang and tried to negotiate, I was prepared to pay a bit extra as I was after a replacement value for the Defender, I also rang just about everyone else, including brokers. Part of the problem is that no one will insure accessories above $5K or 50% of total value, and the dodgy Glass Guide and Red Book Values say the 300Tdi Defender's worth about $9-10K. I tried argueing the low km thing too, but no one would budge. One company offered to insure it for $15K, but their premium was higher and while they would insure the accessories to the agreed 50% value for the 12 month contract period, they would continue to depreciate the value of the car of that period, so their final payout - should it have come to that would have been even lower.

RACV told me they were doing me a favour because I've been with them for so long, but to basically drop 50% of the total payout figure with dropping the premium is hardly a favour.

Jock The Rock · 5th October 2009, 05:48 PM

Well talked to my current insurance co. apparently even though a Landy of the same year with twice the Ks is going for about $12 grand on Carpoint. Thats not what they are actually worth. According to them anyway

They'll only insure it for 11 grand now

So I said I'm not to happy

Well just called NRMA and it's going to charge me $2200 a year to insure the Landy with them for $14000

Shannons won't insure me because of a previous accident and I'm too young

What can I do?

Apart from take the Landy off the road. I love it and it would kill me to do it

Guess I'll try the next one on the list

**Psimpson7** · 5th October 2009, 06:01 PM

Jock thats ridiculous!

Try Australian 4WD insurance, Thats who I am with, and the car valued at I think $30k + all the mods cost, of which all are declared, with Sam and myself on it is a bit over $900

Thats covered anywhere off road in Aus too.

Rgds
Pete

**B92 8NW** · 5th October 2009, 06:26 PM

I accept my crap agreed value for one reason - to get the agreed value I want, I'd need to pay a massive premium, and I'm not going to support their malevolent economic engine to be covered for an accident that they claim I'm statistically going to have but haven't yet

.

Jock The Rock · 8th October 2009, 06:34 PM

Originally Posted by B92 8NW

I accept my crap agreed value for one reason - to get the agreed value I want, I'd need to pay a massive premium, and I'm not going to support their malevolent economic engine to be covered for an accident that they claim I'm statistically going to have but haven't yet

.

Looks like this is the only way to go, guess 11 is the best I can get

Originally Posted by Psimpson7

Jock thats ridiculous!

Try Australian 4WD insurance, Thats who I am with, and the car valued at I think $30k + all the mods cost, of which all are declared, with Sam and myself on it is a bit over $900

Thats covered anywhere off road in Aus too.

Rgds
Pete

Like Shannons this mob didn't want to kow me because of a previous accident and I'm to young

I even tried an insurance broker and the lady there couldn't get me anything better. Guess I'll have to be happy with what I've got

jplambs · 8th October 2009, 10:17 PM

Hi Jock,

I just insured my defender with Elders, admittedly it is only for 5000. I also got a quote for $10000 comprehensive insurance including third party insurance with a premium of $747.10. The excess is 300 and because I am under 21 I would have to pay 150% on top of that ... so $750. They work on an agreed value principle, If I wanted to insure my 95 300tdi ute for 30000 they will play ball. I did a bit of ringing around and for a 20 year old this was the cheapest I had come across.

I have had my kelpie bitch and other things insured with them for awhile and although I haven't had to claim anything yet they are really good to deal with, at least my local rep is.

And thats covered off road as well.

PM me if you want more details.

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