Insurance Question !!

herbie · Guru

Insurance Question !!

herbie · Guru

GaryKelly wrote:
I think what they mean is insured with the one company. My ute and slide-on are insured with NRMA. As far as rego is concerned, it's the one vehicle and requires only a single registration. But the NRMA sees it differently because the slide-on can be detached, therefore they are separate vehicles, and need to be insured separately. It's all a pain in the yaaaas if yaaaas me.

Gary, i understand what you are saying ,but my question is that insurance companies are advertising to just have one policy, one policy number, one premium. dosn't matter if you have one van six vehicles and say a boat all under this one policy.

-- Edited by herbie on Saturday 4th of May 2013 10:05:00 PM

herbie · Guru

Was wondering if anyone has had an issue regarding their tow vihicle and van being insured under the or on the one policy. By that i mean one policy one policy number. If you had a accident and both tug and van were damaged logically would it be covered by the one excess.

Regards Herbie.

brickies · Guru

Insurance company are smart they would not do that when they can double dip

herbie · Guru

Baz421 wrote:
Agree with Gary here Herbie.
One policy, but you will have to note the vehicle and van separately and value each separately. It comes down to the risk of a claim against each , and if you claim you will have to nominate what you are claiming against,,, ie fill out a vehicle claim and then fill out a separate claim I suspect for the van.
Assessors would then look at each claim separately as the vehicle and van would more than likely be at different repairers.
As I see this it's to get business (and a discount to you hopefully) but each risk would be noted separately.
Hope this make sense.
Cheers Baz

Thanks Baz,i just done some serching on some other forums regarding this,and what i can make out it is just another way of as you say drumming up business .As one bloke was saying on the forum he took this kind of cover out and had a (small accident ) damage to both van and car due to van and car getting a slight crunch ( no other vehicle was involved. just one driver one accident event. So he thought logically it would be covered by one excess claim. WRONG The insurer informed him it regards the car and van as separate risks (despite all of the above ) and therefore two excesses were demanded. So best to leave my insurance policy the way it is .

-- Edited by herbie on Sunday 5th of May 2013 02:55:41 PM

GaryKelly · Guru

I think what they mean is insured with the one company. My ute and slide-on are insured with NRMA. As far as rego is concerned, it's the one vehicle and requires only a single registration. But the NRMA sees it differently because the slide-on can be detached, therefore they are separate vehicles, and need to be insured separately. It's all a pain in the yaaaas if yaaaas me.

Roving-Dutchy · Guru

I have all my insurances with the one company all falling due on the same date but each policy is a separate risk and in most cases a different excess.

Cheers

David

Gerty Dancer · Guru

Can you give the name of the insurance company/s you are referring to please herbie?

Baz421 · Guru

Agree with Gary here Herbie.

One policy, but you will have to note the vehicle and van separately and value each separately. It comes down to the risk of a claim against each , and if you claim you will have to nominate what you are claiming against,,, ie fill out a vehicle claim and then fill out a separate claim I suspect for the van.

Assessors would then look at each claim separately as the vehicle and van would more than likely be at different repairers.

As I see this it's to get business (and a discount to you hopefully) but each risk would be noted separately.

Hope this make sense.

Cheers Baz

Grams · Guru

We have all our policies under the same company. Our caravan is separate, our 4WD is separate, but our House, contents and Aurion car is on the same policy, but every single item has its own excess, which is how it should be. They are all different and so need different excesses.

NeilandRaine · Guru

I am insured with Ken Tame, it is probably a bit cheaper, and if you have a van you have to insure the tug as well under the same policy.
Works for me.

Luckilly I have not needed it. Worth looking into tho

-- Edited by NeilandRaine on Sunday 5th of May 2013 06:36:14 AM

Cloak · Guru

It sounds like a marketing gimmick - gosh did I say that out loud - I mean marketing strategy.

I would have created a products just like this under the one policy number to attempt to get as many vehicles as possible. This is called the customers wallet.
Under the one policy number it makes it very difficult for the customer to unpick ( may lose discounts etc) but it keeps my market share on the up.

You can bet this is a drive to get more market share.

Now the product will be underwritten and each item covered will have a risk / excess like normal but the 'go to market' look will appear
to be of some value to the customer when all along it's only a hook for the insurance marketer.

Do your research and remain sceptical....

Cheers

Wombat 280 · Guru

Read all the fine print you get what you pay for not necessarily what you need

Knowledge speaks, but wisdom listens.