Defender insurance

[El Rey]

My comprehensive insurance is with RACQ, and I spoke to them today to notify them about the addition of the rear storage drawer.

This may be already understood by everyone except me, but they say that my policy is 'new for old', which means that anything I notify them about and have receipts for, they will replace - without any change in my premiums.

Because I was a bit surprised by this I asked what if I hypothetically added $30,000 of stuff to my 110 - still the same premiums?
They said yes that's the case.

I hope they understood me and I understood them fully. With some of the horror stories you hear about insurance companies withholding payments, I don't want any hassles if the worst should happen and I need to replace it.

On a related note - I wonder how they would calculate the 'new' value since the Defenders are no longer made.

[Baytown]

G'day Ray.
I just posted re my change over to Club 4X4 before seeing your post.
I re-evaluated my truck as I've spent a fair bit on it, so changed over, but big premium at $1300 per Annum, but complete cover for $84,000 inc all accessories and mods.
Some times you just have to swallow and do it.
If RACQ will exchange your truck PLUS all advised accessories and mods for no extra, that is amazing value.
Ken

[Baytown]

Nice use use of punctuation as well Rey.😉

My comprehensive insurance is with RACQ, and I spoke to them today to notify them about the addition of the rear storage drawer.

This may be already understood by everyone except me, but they say that my policy is 'new for old', which means that anything I notify them about and have receipts for, they will replace - without any change in my premiums.

Because I was a bit surprised by this I asked what if I hypothetically added $30,000 of stuff to my 110 - still the same premiums?
They said yes that's the case.

I hope they understood me and I understood them fully. With some of the horror stories you hear about insurance companies withholding payments, I don't want any hassles if the worst should happen and I need to replace it.

On a related note - I wonder how they would calculate the 'new' value since the Defenders are no longer made.

[El Rey]

G'day Ray.
If RACQ will exchange your truck PLUS all advised accessories and mods for no extra, that is amazing value.
Ken

Yeah that's what I thought too, which is why I contacted them twice to double check.

My comprehensive premiums are just over $68 per month by the way.

[El Rey]

Here are some exact quotes from the chat conversations I had with the RACQ reps today.
There's a function which allows you to save them.

'We do not add the cost of your accessories or modifications to the policy we only add the description of theadditional item. If it is listed. We will cover it.'

' With your vehicle, it is currently covered for a new for old portion of your policy. That means that any
accessories or modifications that are listed on the vehicle, in the event of a total loss will be replaced with the
vehicle.'