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Post Info TOPIC: Who is your caravan insurance with?
bristte


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Who is your caravan insurance with?
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There's no mention of KT here. My CIL premium was pretty competitive, but it jumped 63% this year after a 10% increase the previous year despite no claims. I switched to KT. They were very competitive, and there's a 5% discount for CMCA members. NRMA was somewhere between the two. Last I checked with Youi they were off the scale. RACWA sounds pretty good, if you're in WA.

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Hitting the road


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I have my van with Australian Caravan Insurance, a division of Nautilus Marine. Don't know why they do not appear in any threads...I had a claim last year while on the road and they were brilliant.

FYI...All insurance premiums are based on a percentage of the insured value...not just on a wild guess by some Underwriter somewhere. My insurance premium is currently .0124% of the insured value. The excess chosen will also influence the premium.

The Insurers may also have a small additional loading on some makes of caravan as well due to various reasons...could be construction or anything else that may influence repair costs. Insurers keep records of costs associated with repairs. An Aussie made Jayco van may well be cheaper to insure than some other partially imported make due to parts availability...or just ease of repair.

Then on top of the base premium will be any additional loading due to Insured's age, claims experience, location, storage risk etc. And don't forget, the higher the base premium, the higher the Stamp Duty and GST added to what the Insurance company receives for the risk!
The base insurance premium may be say $1200.00, but Stamp Duty and GST lift that premium by $232.20 to $1432.20 in Qld. We all pay GST on Stamp Duty in this country.

Money for jam for the Governments every time you renew your insurance on anything. Just wait until the GST goes up...which it will...then up goes your insurance premiums again.



-- Edited by Hitting the road on Wednesday 3rd of January 2024 11:41:39 AM

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bristte


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Hitting the road wrote:

I have my van with Australian Caravan Insurance, a division of Nautilus Marine.  ..... My insurance premium is currently .0124% of the insured value. The excess chosen will also influence the premium.

  I think you mean 1.24%

"Welcome to Australian Caravan Insurance, this product is exclusively offered via insurance brokers. Please speak with your insurance broker to access this product and its benefits. Should you wish to consider caravan insurance directly with us, please visit our consumer direct brands here."  What was the broker commission?  I wonder how different the premium is if you go through one of their consumer brands, like Let's Go Caravan Insurance?



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Hitting the road


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Most good Brokers only charge $50.00 for small policies like above...which equates to $55.00 with GST...when I was Broking I often didn't charge any Broker fee on small policies as I would get Commission anyway...usually 10%, though some Insurers dependent on policy paid 15%...


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