GIO targets accessories with massive excess

[WarrenM]

As of the beginning of this year, GIO has a new underwriting policy regarding installation of after-market accessories. I just contacted them to enquire about how adding $5000 of car hi-fi and car phone and Bluetooth hardware to the car would affect my premium. They told me it would add a $2000 EXCESS to my 2009 Luxury Euro! Not just for theft but for everything! Obviously a good hi-fi makes it several times more likely that you will cause an accident - possibly the hi-fi is a natural attractant to other car owners and they go to great lengths to get in your way. Or maybe my youthful 54 years, when combined with a powerful amplifier, turns me into an underage rev-head.

I guess that means that I'm leaving GIO. Allianz offered me a better premium, a $550 standard excess and better policy conditions.

[white_ep3_civic]

Best price for a modified car is just car. Been with them for years. GIO is a joke. I purchased a brand new focus 3 years back and they wanted $6000 a year, it was completely stock!

[bennjamin]

they essentially quote you out of your business. Why ? Because they dont want the higher risk policies.

[JustRight]

As of the beginning of this year, GIO has a new underwriting policy regarding installation of after-market accessories. I just contacted them to enquire about how adding $5000 of car hi-fi and car phone and Bluetooth hardware to the car would affect my premium. They told me it would add a $2000 EXCESS to my 2009 Luxury Euro! Not just for theft but for everything! Obviously a good hi-fi makes it several times more likely that you will cause an accident - possibly the hi-fi is a natural attractant to other car owners and they go to great lengths to get in your way. Or maybe my youthful 54 years, when combined with a powerful amplifier, turns me into an underage rev-head.

I guess that means that I'm leaving GIO. Allianz offered me a better premium, a $550 standard excess and better policy conditions.

Hey Warren, we are the same age ;)

I have both my Cooper 'S' and the Euro insured with Shannons. Great company, and VERY understanding with modifications.

Cheers.

[xclusive_eg8]

Youi looks like a good company. And they pretty much halved what suncorp is offering me at the moment. Dunno about there well faces in a claim though

[WarrenM]

Hey Warren, we are the same age ;)

I have both my Cooper 'S' and the Euro insured with Shannons. Great company, and VERY understanding with modifications.

Cheers.

Just got a quote with Shannons - I shall be switching to them - price is good and cover is excellent. And they love me because I love my car and like improving it - just the opposite of the rest of the insurance industry!

[JustRight]

Just got a quote with Shannons - I shall be switching to them - price is good and cover is excellent. And they love me because I love my car and like improving it - just the opposite of the rest of the insurance industry!

Thats great! I have been a Shannons customer for a long time. Initially with my classic cars and subsequently with my road cars as well. I have had to use the insurance after an accident as well and I have to say that Shannons were fabulous in their handling of the claim and getting everything sorted out to my satisfaction.

I know you won't be disappointed.

Cheers,
Trevor

[Fredoops]

by the way:
Shannons = Suncorp = GIO = AAMI = Bingle = Vero

All are under the suncorp group but they have different pricing systems so they capture different types of customers.


Sound system/ICE is always a killer in terms of insurance, most insurance company will say HELL NO if you have any aftermarket electronics costing more than $2-3 thousand

Just think about it, Sydney/Melbourne, car with expansive sound system? thats like asking for a break-in, and then theres the issue on repairs, since GIO/AAMI/Suncorp pretty much chooses repairer for you in event of an accident, it's bloody impossible for them to deal with aftermarket Hi-fi if anything needs to be done about them.

Shannons I think is "you choose your own repair" so if theres problem with finding repairer for hifi etc... its your problem, not theirs.

[Troy]

Full comprehensive is ridiculous these days. More expensive than to just register the car each year!

Whoever said youi is any good obviously hasn't got a quote for my setup. 2x standard (unmodified) cars. They quoted me $10 cheaper for one car than what I'm paying for two cars! I told the guy on the phone, "dude I'm paying like $10 more for both mine and my wife's car" and he was like "wow, oh really" Haha they got no idea.

If ever I get to the stage where I do my car up, I would contact Shannon's. So many good reviews eh.

[WarrenM]

by the way:
Shannons = Suncorp = GIO = AAMI = Bingle = Vero

All are under the suncorp group but they have different pricing systems so they capture different types of customers.


Sound system/ICE is always a killer in terms of insurance, most insurance company will say HELL NO if you have any aftermarket electronics costing more than $2-3 thousand

Just think about it, Sydney/Melbourne, car with expansive sound system? thats like asking for a break-in, and then theres the issue on repairs, since GIO/AAMI/Suncorp pretty much chooses repairer for you in event of an accident, it's bloody impossible for them to deal with aftermarket Hi-fi if anything needs to be done about them.

Shannons I think is "you choose your own repair" so if theres problem with finding repairer for hifi etc... its your problem, not theirs.

What you're saying makes sense, but why should the insurance company automatically assume that high quality audio is easily visible and therefore an invitation to theft - again it seems they equate expensive music systems with rev-head kids, without taking note of my driving history or age.

My car will look exactly the same after the installation as before. It will just perform differently for anyone in the cabin. With the boot open, you might possibly see my sub if you happen to be looking in from the right angle - probably not though. My plan is to enjoy the music, not get off on the imagery. As for letting the rest of the neighbours know that I'm two blocks away, it's not that kind of "music" that I listen to.

Shannons seems to assess my own appreciation of my car and uses that as one measure of risk. Seems pretty sensible to me.

Cheers, Warren

[CU2 Euro 09]

Youi are a joke.

They quoted me $1500 for full comprehensive with a $500 excess. Car sits in a locked garage all day and I catch the train to work.

Was with AAMI and decided to stay with them. Rating 1 and all that, only cost $640. I've had a scrape on the car that got fixed and I chose the repairer. My excess is only $400.

Suncorp wanted $970.

Had a mate try Youi and he was quoted the same.

The person at Youi I spoke to said that "they don't seem to like your car sir". What a rip!

[xclusive_eg8]

ahhhh looks like ima not go youi then lol...

[tron07]

I had GIO for 3 years, and they were pretty okay. Now with AAMI

[marquee]

Im with AAMI im 22 years old and have disclosed I have a full exhaust system rec retail 3k tiniting 300 and I pay about 1400 I think it is I am rating 2 at the moment and will be rating 1 next year.

I have to pay massive excess if a crash is my fault but I havent been in a crash that was my fault yet "touches wood" but anybody under 25 has to pay the same excess. If my quote this yr is more then 1200 i will be angry because i get rating one.

[Cvik_ryda]

Just a story for AAMI customers here.
My friend insured his Dc5s in extreme good conditon with AAMI. The car got flood water in the boot back in the Jan from the flash flood in Melbourne. he call them when he found the water, AAMI asked him to bring the car
in for inspection. It was a write of due to electrical potential hazards( water and electrial cables the lot lol). 6 weeks on after a few "we call you back soon" nothing happened. Finally after 6 weeks he got a call "we'll pay you out in full"
"would you like to buy the car back for xxxx dollars".
I know the quality of the car so i offer to buy the car back for a K swap. AMMI suppose to tow the car to me last friday but nothing was delivered. We rang up on Friday night AMMI told us they cant find the car in their yard.
We reckon they sold the dam thing already, without asking, documents or pay out any amount of money.
They said to call back this monday to see if they can find the car
I dont know much about the laws around this matter but you just cant sell your clients car without their aggrement. If they acctually sold the car thats just plain illegal.
Anyone has this happen before?

[e240]

The Youi ads irritate the hell out of me..

[Fredoops]

The Youi ads irritate the hell out of me..

They ask more questions... some rather personal, like married/single etc etc.

What it really mean is:\
"Based on your answer to our 1001 questions, you shouldn't haven an accident... if you do.... we'll just jack your premium up next year by 1001%."

[redefine]

21 y/o male with a few mods on my car.

youi refused to give me a quote

[Troy]

21 y/o male with a few mods on my car.

youi refused to give me a quote

youi fail.

[Fredoops]

Im with AAMI im 22 years old and have disclosed I have a full exhaust system rec retail 3k tiniting 300 and I pay about 1400 I think it is I am rating 2 at the moment and will be rating 1 next year.

I have to pay massive excess if a crash is my fault but I havent been in a crash that was my fault yet "touches wood" but anybody under 25 has to pay the same excess. If my quote this yr is more then 1200 i will be angry because i get rating one.

Hmm...insurance premiums increase at a rate of approx 5-8% every year....

The discount increase from rating 2 to rating 1 I remembered was like... 10%

So... you'll still go backwards...

[Troy]

About 4 years ago now, my premium suddenly went up by about $300. It had steadily gone down a small bit each year before then. So I rang them, asked for a manager and asked what was the go? The manager said our prices are competitive with the industry, I said I don't care, you can't justify it because everyone else is doing it. So I made the "big" decision and went third party property only.

Since then, yes I have had one "at-fault" accident, it cost me $500 excess plus about $650 in parts to get my car back up and running. Still less than one year's premium! I've saved in the long run. Comprehensive insurance is a scam!

[Danzvtil]

Just a story for AAMI customers here.
My friend insured his Dc5s in extreme good conditon with AAMI. The car got flood water in the boot back in the Jan from the flash flood in Melbourne. he call them when he found the water, AAMI asked him to bring the car
in for inspection. It was a write of due to electrical potential hazards( water and electrial cables the lot lol). 6 weeks on after a few "we call you back soon" nothing happened. Finally after 6 weeks he got a call "we'll pay you out in full"
"would you like to buy the car back for xxxx dollars".
I know the quality of the car so i offer to buy the car back for a K swap. AMMI suppose to tow the car to me last friday but nothing was delivered. We rang up on Friday night AMMI told us they cant find the car in their yard.
We reckon they sold the dam thing already, without asking, documents or pay out any amount of money.
They said to call back this monday to see if they can find the car
I dont know much about the laws around this matter but you just cant sell your clients car without their aggrement. If they acctually sold the car thats just plain illegal.
Anyone has this happen before?
ACTUALLY, when ins pays you out, they are buying the car, they OWN IT. They can do whatever they like with it. They probs sent it to the auctions with thousands of other flooded cars.
You paying money for the wreck is a separate transaction. When you agreed to a payout, you sold the car to them........

[Troy]

Yes but he's saying without agreement. Either 1) AAMI does not have in writing the client's agreement to the case, or 2) AAMI has not paid up the money and provided said written proof of transaction and details.

You are both right. Just arguing the wrong point.

[Cvik_ryda]

ACTUALLY, when ins pays you out, they are buying the car, they OWN IT. They can do whatever they like with it. They probs sent it to the auctions with thousands of other flooded cars.
You paying money for the wreck is a separate transaction. When you agreed to a payout, you sold the car to them........

No man they hasnt pay out anything or sending any documents to my friend to sign. The'll OWN IT once my friend sign the paper but nothing is done. They took the car, in kept it and now they cant find it lol

[Cvik_ryda]

Yes but he's saying without agreement. Either 1) AAMI does not have in writing the client's agreement to the case, or 2) AAMI has not paid up the money and provided said written proof of transaction and details.

You are both right. Just arguing the wrong point.

thanks
i dont think Danzvtil read the whole thing