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Auto Expert John Cadogan

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  • Just rang ammi
    No can do in current insurance year they agree the car is $38000 but the coverage they offer is only $32500 but can't change my agreed price till next year's premium

  • We had a veeeery nice low mileage & pristine 2nd-hand car, with an agreed price policy, then one morning without consultation, it was switched to market value, $29000 less for the same premium. 😳
    I'm an experienced & tolerant driver, so luckily held back from pursuing a red light offender who'd turned in front of me, & just as well I did because a speed limit breaking (70-80kph) 2nd red lighter would've slammed right into me.
    That could've been a bad day, my wife informed that I'd been killed, our only car totalled & $29000 out of pocket.

  • Just a point on the comprehensive element of car insurance: A colleague I worked with set up a trust fund with several of his family members for their comprehensive insurance. They all made sure that they had third-party property insurance, but contributed the difference between that premium and the quoted comprehensive premium into the trust fund. After not too many years, they had enough in the kitty to be able to replace several of the vehicles "insured", and so they started paying out distributions to the members (by way of discounting the annual payments).

    Insurance is just cash-flow management for catastrophic events, so you're paying for your replacement car, whether you believe it or not; plus you're contributing to the profits of the finance system fat-cats.

  • Default insurance renewal offer undervalued my late model used car to the tune of 4k, to their credit they didnt seem to have a problem with upping the sum insured (along with the yearly premium) after I pointed out what i thought the car was actually worth

  • Was always afraid it would severely increase my monthly costs to up the agreed value. I just updated mine, increasing the value by $5000, making it a fair value for the current market. I'm only paying $1.20 a month more.

  • Brilliant, highly technical mind who thinks being right about something that is tangible mechanics, cars), thinks he's across the rest of the knowledge yet couldn't be further from the truth. Yours truly will not be the first to suggest that the presenter sticks to the subject matter at hand.

  • The insurance sector is a government protected species. I will probably set off thousands of trolls, but other than compulsory insurance such as third party, I have no insurance in my life. My philosophy, obey the speed limit at all times, put a safe distance between yourself and the car in front, always have good tyres and good brakes, keep alert to tossers and you are good to go. Last car insurance I had was in 2006 when my VY Calais that I paid $30k for under commercial hire purchase cost $2k to insure for market value. A few months later I paid out the loan. When the renewal came in the post, the market value fell by $3k but the premium was the same. The cheeky pricks rang me when the policy was not renewed and reminded me I had to have insurance as part of the finance deal. I politely told them I had paid out the loan and told them to f@#$ off. I have saved over $25k in premiums since. Still got the car too.

  • I tried arguing the "agreed" value with my insurer.🤣 They were not very agreeable, and quoted almost double their original price. When my insurance next becomes due I will be looking elsewhere.😒

  • How do insurance companies assess cars these days? I would love to see a video explaining the process on wovr’s. I had a minor bingle that just required a new rear bumper earlier this year and they declared the car a statutory write off. The panel beaters were just as mystified at this decision, surely this costs the insurance companies? I would have been happy with just a new bumper?!

  • I spend 9+ hours on the road Mon-Fri & the amount of stupid drivers is just astounding. There are no stop signs at roundabouts & yet so many people stop to give way to cars that are just not there.

  • Bloody good bit of consumer advice there mate. I'm considering selling my car nowas it is 'worth' $10k more than I paid for it two years ago. Then use a spare car (champagne problems, I know) until the market gets back to somewhat normal in a year or two.

  • Perhaps another thing to be aware of even with agreed value

    my experience has been in the event of an accident that is your fault of course….

    when they estimate the cost of the repairs and that cost gets to 60% of the ‘value’ of the car under the policy they write them off…….. and keep the wreck…. To auction off later of course to an aspiring panel beater for parts or otherwise thereby offsetting their loss

    Which can be a problem if you particularly like your car had it from new and really looked after it sort of thing you lose that return on investment in terms of money spent in maintaining it so well……

    Because now it’s a wreck…….. DUDE…

    Plan B of course to this whole conundrum is just don’t have any accidents that are your fault because then it’s not your problem……

    But I suppose the bottom line is the higher the agreed value the higher the 60% repair figure has to be

    less chance of it being written off……

  • I recently renewed my 2019 outlanders insurance after 1 year of owning it with a different company, Surprisingly RACT was by far the cheapest. When doing the insurance quote for agreed value moving the slider all the way up to $29,000 from 24 or whatever the default was, didn't change the premium cost at all, so it now has an agreed value of $2000 more than I paid for it brand new a year ago and the years comprehensive insurance was only $450 with a $1000 excess.
    Don't only look at budget insurers, they may not always be the cheapest.

  • And while talking to your insurance company ask about how many days hire car you can get. Spare parts are as hard to get as cars so unless you have a generous hire car allowance, get ready to walk…. For a long time.

  • With my 10 y.o. car when just starting (red Ps) the comprehensive was $5.5 Grand. The car was worth less than $10 grand. This means they were covered to the point that I would write off the car in a mean time of two years. Yeah, right.

  • I have a Toyota FJ Cruiser that is currently worth nearly double what I paid for it, with a replacement value of about $75K; however discovered recently that the “market value” that the insurance would actually pay is the Redbook value, which is around $20K.

  • I asked my insurer why it was that there was a disparity [substantial] between my wifes ten year old Getz compared to my 17 year old 323 Mazda, Oh they said you are a co driver on your wife policy but you are on your own on yours, so its dearer? so if you put your wife on as co driver then your premium will drop [by over 200 bucks], now isn't that arse about, the more drivers nominated [to a point] one would think likelyhood of accident greater? but they don't think so?

  • Just did this John. My insurance co. Valued my ssv ve Ute at $15,000. Would only go to $18,000 agreed and higher payments. For the same higher payment Shannon’s insured it for $30,000. When I asked why she basically told me “because that’s what it’s worth”. They wouldn’t even ensure it for $20,000 when I asked what the premium would be. Pays to shop around. Annoying when an insurance co doesn’t give a shit if you stay with them. No loyalty in this business.

  • These torches are essentially designed to fit in a manbag bumbag or a Special Edition Tony Abbott enhancer budgie smugglers. Gives a whole new meaning to the term 'flashlight'