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Post by muzled on Jul 22, 2024 15:09:45 GMT 12
Got our latest bill for the Leaf a month or so back.
$937!
I've had one claim in my 40 years of driving so I thought fark that.
Got 3rd party quote - $230.
So I've opened an account to put the difference into it.
And now remind myself I'm basically driving uninsured...
The hilux ins (which is prob worth $25k?) is now over $1200.
Clearly more and more people will go 3rd party, which in turn will drive up ins premiums, which in turn will make more people go 3rd party...
Anyway, wish me well on the 'no claims bonus'...
Thinking of doing the same for contents given the only things of any worth are the toys in the garage.
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Post by fish on Jul 22, 2024 16:54:31 GMT 12
I believe in only insuring things you can't afford to replace. Like your house.
Everything else, you are just paying for admin, overheads and profit for an insurance co.
Generally I can afford to replace my cars. For most of my life my car has been worth less than some frivolous thing, such as my windsurfing gear.
Anyway, when we got the missus a fancy PHEV family wagon with low km's, she decided she didn't want to drive it around 'self-insured' and I determined that writing it off would put a significant dent in the household finances.
Given that minor panel damage and the like I can still afford to fix myself, I determined that AA Insurance allow very high excesses on cars. And you can get quotes online so you don't have to do the pain of a call centre, or worse, a broker that just mucks you around and takes weeks to get back to you (was using a broker...)
Anyway, have a $2,500 excess on both cars. Reduced the premium by over a third. The 2014 PHEV outlander premium is about $650, and for shits and giggles I got my hybrid runabout covered as well, get 10% off both policies, and that premium is about $350. That is only a fraction more than third party. Most insurers only offer $1,000 excess. Going to $2,500 saves a significant amount on the premium.
I think going for super high excesses is a pragmatic way of reducing premiums while retaining cover.
I see people go for $100 excess, or excess free glass cover, claim every little scratch or minor ding, then complain how much their insurance is. I've been backed into by an uninsured driver who gave me false details, damaged a door - but I got it fixed for less less than a no-claims bonus and for way less than my excess. It is amazing how panel beater prices are different when you offer cash and no ball-ache with insurance co admins.
Replace a $30k car I can't do, but fix some panel damage I can do, hence very high excess and nicely low premiums.
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Post by GO30 on Jul 22, 2024 18:25:49 GMT 12
I'm in Camp muzled.
Also started knocking some on the head, it's out of control.
Upped the excesses a LOT, dropped some completely,gone 3rd party only on a few vehickles but still have some at full noise.
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Post by muzled on Jul 24, 2024 10:27:10 GMT 12
I believe in only insuring things you can't afford to replace. Like your house. Everything else, you are just paying for admin, overheads and profit for an insurance co. Generally I can afford to replace my cars. For most of my life my car has been worth less than some frivolous thing, such as my windsurfing gear. Anyway, when we got the missus a fancy PHEV family wagon with low km's, she decided she didn't want to drive it around 'self-insured' and I determined that writing it off would put a significant dent in the household finances. Given that minor panel damage and the like I can still afford to fix myself, I determined that AA Insurance allow very high excesses on cars. And you can get quotes online so you don't have to do the pain of a call centre, or worse, a broker that just mucks you around and takes weeks to get back to you (was using a broker...) Anyway, have a $2,500 excess on both cars. Reduced the premium by over a third. The 2014 PHEV outlander premium is about $650, and for shits and giggles I got my hybrid runabout covered as well, get 10% off both policies, and that premium is about $350. That is only a fraction more than third party. Most insurers only offer $1,000 excess. Going to $2,500 saves a significant amount on the premium. I think going for super high excesses is a pragmatic way of reducing premiums while retaining cover. I see people go for $100 excess, or excess free glass cover, claim every little scratch or minor ding, then complain how much their insurance is. I've been backed into by an uninsured driver who gave me false details, damaged a door - but I got it fixed for less less than a no-claims bonus and for way less than my excess. It is amazing how panel beater prices are different when you offer cash and no ball-ache with insurance co admins. Replace a $30k car I can't do, but fix some panel damage I can do, hence very high excess and nicely low premiums. Good point on the excess fish! Just got an email about being overdue on kaptain kangaroo (the hilux) this morning. $1254 for full ins with $400 excess. The max I could increase the excess to was $1000 but that dropped it to $904. Decreased the agreed value from $35000 to $30K and that dropped it to $840. I got a trade in quote a few months back and they said $25K so even $30K is poss overvalued. I guess these things feel like a win until you make a claim, but given I've had one vehicle claim in my life hopefully it stays as a win.\ Still tempted to go 3rd party... |
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Post by fish on Jul 24, 2024 13:05:12 GMT 12
I believe in only insuring things you can't afford to replace. Like your house. Everything else, you are just paying for admin, overheads and profit for an insurance co. Generally I can afford to replace my cars. For most of my life my car has been worth less than some frivolous thing, such as my windsurfing gear. Anyway, when we got the missus a fancy PHEV family wagon with low km's, she decided she didn't want to drive it around 'self-insured' and I determined that writing it off would put a significant dent in the household finances. Given that minor panel damage and the like I can still afford to fix myself, I determined that AA Insurance allow very high excesses on cars. And you can get quotes online so you don't have to do the pain of a call centre, or worse, a broker that just mucks you around and takes weeks to get back to you (was using a broker...) Anyway, have a $2,500 excess on both cars. Reduced the premium by over a third. The 2014 PHEV outlander premium is about $650, and for shits and giggles I got my hybrid runabout covered as well, get 10% off both policies, and that premium is about $350. That is only a fraction more than third party. Most insurers only offer $1,000 excess. Going to $2,500 saves a significant amount on the premium. I think going for super high excesses is a pragmatic way of reducing premiums while retaining cover. I see people go for $100 excess, or excess free glass cover, claim every little scratch or minor ding, then complain how much their insurance is. I've been backed into by an uninsured driver who gave me false details, damaged a door - but I got it fixed for less less than a no-claims bonus and for way less than my excess. It is amazing how panel beater prices are different when you offer cash and no ball-ache with insurance co admins. Replace a $30k car I can't do, but fix some panel damage I can do, hence very high excess and nicely low premiums. Good point on the excess fish! Just got an email about being overdue on kaptain kangaroo (the hilux) this morning. $1254 for full ins with $400 excess. The max I could increase the excess to was $1000 but that dropped it to $904. Decreased the agreed value from $35000 to $30K and that dropped it to $840. I got a trade in quote a few months back and they said $25K so even $30K is poss overvalued. I guess these things feel like a win until you make a claim, but given I've had one vehicle claim in my life hopefully it stays as a win.\ Still tempted to go 3rd party... That is why I went with AA insurance, they are the only ones that offer an excess greater than $1k. |
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Post by GO30 on Jul 24, 2024 14:23:24 GMT 12
We have raised the main vehicals to 2K excess, that made a huge difference to the premiums.
The insureance industry definition of 'agreed' is not the same on that is in dictionaries. If you cover a car for 30K then trash it they will pay market rates and if they are 20K then they will not pay you 30K. So making sure you insure at the market rate will also mean lower premiums and save a shit fight later when your insurance company tells you your definition of 'agreed' is wrong. Been there scrapped over exactly that.
Honest insurance companies, and a few do exist, will tell you that but as it is a awesome bonus income source most won't.
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Post by ComfortZone on Oct 8, 2024 7:34:14 GMT 12
So AA has been caught out RCR Bites - AA Insurance ordered to pay a $6.175 million penalty for misleading conduct resulting in more than $11 million being overcharged to customers www.newstalkzb.co.nz/news/business/aa-insurance-hit-with-61-million-penalty-for-overcharging-misleading-customers/no doubt just the tip of the iceberg, as was similarly revealed by the Australian Royal Commission into banking
ps note the CEO is a woman, remember how the feminist mantra has been for many years that if women ran politics and business it would be a better world, yet time has proven women are just as capable of incompetency, corruption and going on power trips. Apart from Ardern, one of the best/worst examples was Theresa Gattung who massively destroyed Telecom's shareholder value over her tenure.
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Post by em on Oct 8, 2024 9:33:37 GMT 12
So AA has been caught out RCR Bites - AA Insurance ordered to pay a $6.175 million penalty for misleading conduct resulting in more than $11 million being overcharged to customers www.newstalkzb.co.nz/news/business/aa-insurance-hit-with-61-million-penalty-for-overcharging-misleading-customers/no doubt just the tip of the iceberg, as was similarly revealed by the Australian Royal Commission into banking
ps note the CEO is a woman, remember how the feminist mantra has been for many years that if women ran politics and business it would be a better world, yet time has proven women are just as capable of incompetency, corruption and going on power trips. Apart from Ardern, one of the best/worst examples was Theresa Gattung who massively destroyed Telecom's shareholder value over her tenure.
And taken to task by the FMA whose board of Execs and staff is top heavy with women . They can’t be all bad ? Aung San Suu Kyi would have to be near the top of the list of who should’ve done “less bitchen , more kitchen” |
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Post by ComfortZone on Oct 8, 2024 12:39:20 GMT 12
ps note the CEO is a woman, remember how the feminist mantra has been for many years that if women ran politics and business it would be a better world, yet time has proven women are just as capable of incompetency, corruption and going on power trips. Apart from Ardern, one of the best/worst examples was Theresa Gattung who massively destroyed Telecom's shareholder value over her tenure.
And taken to task by the FMA whose board of Execs and staff is top heavy with women . They can’t be all bad ? Aung San Suu Kyi would have to be near the top of the list of who should’ve done “less bitchen , more kitchen” Competency in both male and female genders follows a normal distribution curve, ie there are some really smart people, alot of middle of the road and some really dumb ones. Problem has been women traditionally gravitate towards the "softer disciplines, which means there are far fewer in the harder ones. So for sure there are some great women managers out there but as the pool to select from is much smaller than the male pool and women are currently favoured under DEI then of course you will get some dreadful appointments. Look at a classic example, Margie Apa head of the health Authority, totally out of her depth and was a classic DEI appointment, would never have got the job under normal criteria for such a role. Of course we can all remember the non- performance of NZ's recently departed woman PM, worst ever PM country has ever had!
A couple more case studies, Carly Fiorina who orchestrated Hewlett Packard taking over Compaq, what a cluster that was. Cynthia Carroll, the CEO of Anglo American PLC mining company, just about destroyed the company in the brief time she was there.
A curious appointment some years back was Alison Andrew as CEO of Transpower. Very bright, top of her class in Chemical and Materials Engineering and worked in the chemicals sector until her appointment at Transpower. At that time she would not have known anything about running an electrical transmission business so was being a woman what won her the appointment? Certainly Transpower's performance under her reign has been rather shakey.
Of course I can cite similar clusters under male CEO's but just want to make the point, contrary to current urban legend, on average women are no better managers than men. An interesting aside is that alot of women in the corporate world hate working for women superiors, too much bitchiness.
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