Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 
324 posts

Ultimate Geek


  # 1980982 21-Mar-2018 13:01
Send private message

We have everything with AMI and have never had any problems with claims.

 

But just moved one of the cars to Tower because it was $350 cheaper, AMI offered a discount when I complained about the price they were charging ($1150), but they still couldn't match even close to Tower.


206 posts

Master Geek


  # 1980989 21-Mar-2018 13:24
Send private message

ObidiahSlope:

"When the premium is not to be returned.


Where there has been no failure of consideration, inasmuch as the risk has attached. There is clearly no failure of consideration when the assured during the currency of the policy suffers a loss and recovers the full sum assured; he has revived the protection for which he paid and cannot claim a return of part of the premium on the ground that while the policy is unexpired the policy is exhausted."


The Insurance Institute of New Zealand booklet "Law of Fire and Accident Insurance" 1974


The above is a fancy way of saying that you have paid your insurer to cover the risk of loss for a period. A loss has occurred and a claim has been paid. Thus the contract between you and the insurer has achieved what you both intended so there is no fault in the contract which would give rise to a part refund.



Well that seems fair! Not something they were able to explain as well as you put it. Also interesting to note someone mentioned if you were paying monthly the remaining term is deducted from settlement. TIL




Tesla Model S P100DL / BMW i3 / Model 3: Feel free to private message me if you need advice buying an Electric Vehicle (EV).
If my advice has been helpful, or you just want free stuff with your purchase, use my referral link to buy your Tesla.


 
 
 
 


2523 posts

Uber Geek

Lifetime subscriber

  # 1980993 21-Mar-2018 13:47
Send private message

esawers:

 

We have everything with AMI and have never had any problems with claims.

 

But just moved one of the cars to Tower because it was $350 cheaper, AMI offered a discount when I complained about the price they were charging ($1150), but they still couldn't match even close to Tower.

 

 

Interesting to know - I should get a quote. Currently have two cars, soon to be three plus boat with AMI.

 

What AMI has done well for me is "protected no claims bonus". One car has twice been repaired after being damaged while in a carpark and the other party is not known. Never lost the no claim bonus. 


2672 posts

Uber Geek

Trusted

  # 1981029 21-Mar-2018 14:50
Send private message

I find AMI are the cheapest for Under 25 car insurance.

 

I also wouldn't touch Youi either.





235 posts

Master Geek


  # 1981042 21-Mar-2018 15:04
2 people support this post
Send private message

You may have noted a number of advertisements offering no deposit finance to car buyers.

 

This gives rise to an insurance cover issue which is not obvious.

 

Most car insurance policies pay out market value for total loss. Because initial depreciation when you drive out of the dealers yard is steep, you will have had fixed fees added to your borrowing and initial payments are mostly interest rather than principal the outstanding balance of your loan will often be greater than market value.

 

To protect yourself from finding a gap between the insurance pay out and the balance of your loan you should discuss with your broker-advisor-agent insuring the car for an agreed value which is not less than the outstanding balance of your loan.

 

Most finance companies offer a separate gap insurance but getting your insurance company to cover the gap by agreed value cover is often cheaper.





Obsequious hypocrite

1200 posts

Uber Geek

Subscriber

  # 1981044 21-Mar-2018 15:16
Send private message

ObidiahSlope:

 

You may have noted a number of advertisements offering no deposit finance to car buyers.

 

This gives rise to an insurance cover issue which is not obvious.

 

Most car insurance policies pay out market value for total loss. Because initial depreciation when you drive out of the dealers yard is steep, you will have had fixed fees added to your borrowing and initial payments are mostly interest rather than principal the outstanding balance of your loan will often be greater than market value.

 

To protect yourself from finding a gap between the insurance pay out and the balance of your loan you should discuss with your broker-advisor-agent insuring the car for an agreed value which is not less than the outstanding balance of your loan.

 

Most finance companies offer a separate gap insurance but getting your insurance company to cover the gap by agreed value cover is often cheaper.

 

 

 

 

Good advice.

 

I had no issues doing this with AA - though this may have been made easier by financing through them as well. I requested that the "agreed value" match the total outstanding sum owed as at the date of purchase and have ensured each year that it has depreciated at the same rate as the total owed.





.

1780 posts

Uber Geek


  # 1981046 21-Mar-2018 15:25
Send private message

I'll put a vote in for AMI.

It's more important to me what they are like dealing with when making a claim, then cost after that.

I had a car get hit front wheel side, panel beater was going to fix it, AMI then got them to take something off car to look at it, turned out if panel beater had proceeded car would not have been fixed properly, car then got put in unecomical to repair and they paid out full agreed value.

Glad their accessors knew their stuff, had other claims as well and they've been good every time.

 
 
 
 


376 posts

Ultimate Geek


  # 1981054 21-Mar-2018 15:39
Send private message

Another vote for AMI. Had a claim a few years ago and it was pretty hassle free, if only dealing with the panel beater was the same.


bmt

473 posts

Ultimate Geek


  # 1982778 25-Mar-2018 10:51
One person supports this post
Send private message

As mentioned above everybody and their situation is different so people will have different experiences with the same company.

 

The one universal constant is do not get insurance with Youi


332 posts

Ultimate Geek

Trusted
Lifetime subscriber

  # 1982800 25-Mar-2018 11:58
Send private message

I had occasion to check out my AA car insurance and ended up getting a policy through a local broker. Much cheaper, more cover but annual premium payment only. Never had to claim in the last 2 years so can't comment on that.

 

Edit, it was with NZI




851 posts

Ultimate Geek

Trusted

  # 1983489 26-Mar-2018 14:31
Send private message

I have taken my car insurance to TradeMe (underwritten by Tower) since they had a lower premium for same for same in almost every detail to other providers.

 

I am quite impressed with their on-line join up and even more with the post sign on-line capability e.g. claim on-line etc

 

I see Insurance as a commodity service and accordingly I have little brand loyalty except where justified by track record

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


5385 posts

Uber Geek


  # 1983534 26-Mar-2018 15:04
Send private message

ABY - anyone but youi





Mike

1 | 2 
View this topic in a long page with up to 500 replies per page Create new topic



Twitter and LinkedIn »



Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Spark Sport new home of NZC matches from 2020
Posted 10-Oct-2019 09:59


Meet Nola, Noel Leeming's new digital employee
Posted 4-Oct-2019 08:07


Registrations for Sprout Accelerator open for 2020 season
Posted 4-Oct-2019 08:02


Teletrac Navman welcomes AI tech leader Jens Meggers as new President
Posted 4-Oct-2019 07:41


Vodafone makes voice of 4G (VoLTE) official
Posted 4-Oct-2019 07:36


2degrees Reaches Milestone of 100,000 Broadband Customers
Posted 1-Oct-2019 09:17


Nokia 1 Plus available in New Zealand from 2nd October
Posted 30-Sep-2019 17:46


Ola integrates Apple Pay as payment method in New Zealand
Posted 25-Sep-2019 09:51


Facebook Portal to land in New Zealand
Posted 19-Sep-2019 18:35


Amazon Studios announces New Zealand as location for its upcoming series based on The Lord of the Rings
Posted 18-Sep-2019 17:24


The Warehouse chooses Elasticsearch service
Posted 18-Sep-2019 13:55


Voyager upgrades core network to 100Gbit
Posted 18-Sep-2019 13:52


Streaming service Acorn TV launches in New Zealand with selection with British shows
Posted 18-Sep-2019 08:55


Bitcoin.com announces partnership with smartphone manufacturer HTC
Posted 16-Sep-2019 21:30


Finalists Announced for Microsoft NZ Partner Awards
Posted 16-Sep-2019 19:37



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.