Thread: D4 more to insure than RRS Supercharged? Really?

Originally Posted by longix

Called NRMA to transfer cover from my MY12 RRS Supercharged (now sold) to a brand new MY12 D4 Luxury Edition.

Quote for same cover on the D4 is 50% higher that the RRS

Sure doesn't make intuitive sense to me. The D4 has half the power, costs 40% less, is no gangster car. Why would it be more expensive to insure?

Any pointer appreciated!

NRMA are having a laugh. I've had that a couple of times, where I have changed the car on a policy and the premium has gone up, just because they've got you mid policy and they think that you won't cancel and move elsewhere.

If I were you I would get some quotes from other companies and weigh up the cost of staying/moving.

Probably if you tell NRMA to stick it, they might play ball.

Ummm, say thanks, but no thanks...

There is one consideration, in that the insurance companies are trying to recover from the natural disasters that have taken place on the East coast over the past couple of years. Thus, they hike premiums.

However, this should in no way justify a 50% increase...

Off topic a bit but I had a household insurance claim last year, first one in 35 yrs. It was a lightning strike which had caused a power surge and caused a arc from a power cable to a water pipe causing a hole to be burnt through the copper cold water pipe!

Yes it caused the safety switch to trip but I did not find the water leak and damage until the next morning.

Contacted the insurance company, all fixed up including replacing some damaged shelving and items in a store room downstairs.

The insurance renewal came through and it had jumped from just less than $1000 per year to just over $4000!!
When I rang up to complain they said it was not because of my claim but because our suburb had been reclassified as a flood risk area due to the recent disasters on the east coast.
When I told them I live above a waterfall up on a hill with ample slope they said sorry that is the way it is. Oh they could drop my cover for flooding and the revised premium would be $1600.

So I shopped around and dumped them. Got new insurance from another company with flood cover for $1150.

It always pays to shop around every year for every renewal.
Do it online and you get an additional discount even for your existing insurance company.

It does pay to shop around.

I was just quoted $2,100/year for full comprehensive by AAMI. That compares to a $3,600 quote by NRMA. I will talk to NRMA and give them a chance to match that, or I'm gone from there. With that much of a difference I wouldn't be surprised if it were a mistake in their system.

Btw, my 2004 996 Turbo is with Shannons. These guys keep cranking up the price by 5-8% every year for no particular reason (other than 'they can').

Insurance is on the long list of Australian sectors that get away with murder pricing-wise, along with banks, car importers, power companies, capital city airports, etc.

Most companies will suck you in with great introductory discounts, then rely on your apathy when you neglect to shop around come renewal time.

I have most of our policy's with the Above mentioned insurance company whose name starts with N. Our van when new in 2010 was the exception, when the renewal came through in 2011 the insurance company increased the premium by 20% and lowered the agreed value by 30%.

So I called the above mentioned insurance company, told them the original insurance price from 2010 and asked them to better it. Not only did they better it by 10% but they increased the agreed pay out price by 15%.

They do not like the idea of losing any customers to other insurance company's so chances are they will come good if you pressure them nicely. Everything with these company's is now a try on, if you don't complain then they are in front, if you do more often then not they will be able to do much better.

cheers,
Terry