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Ragnor
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  #399619 3-Nov-2010 14:02
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LittleGreyCat: 
If you (God forbid) hit a ridiculously priced caravan you could end up owing someone $50,000.


In my opinion at a minimum you want to get third party that includes fire and theft coverage

Whether you go for full insurance vs third party comes down to how much your car cost.  

It's a personal decision about whether the cost to replace your car + the chance of you having an accident (where you are at fault) is worth the higher premiums.

LittleGreyCat: 
In the UK if you crippled someone you could be facing  bill for $1,000,000.


NZ has ACC which is a state universal no fault coverage for personal injury so you do not have to factor in that type liability when looking for car insurance.

http://www.acc.co.nz/making-a-claim/am-i-covered/index.htm


LittleGreyCat: 

Who gives a reasonable deal and is good to work with?

What types of insurance do most people have?



My partner an I are with AA, we both have third party fire and theft as our cars aren't worth that much late 90's Toyota's also.  

We have never had a problem with a claim, twice her car has been written off through no fault of her own.  Once a Gilmours truck nose to tailed her car while she was stopped at an intersection.  Another time a drunk crashed into her car while it was empty and parked on the side of the road.

Claims process was fairly straight forward and the insurance company didn't try to shirk their responsibilities.

This site has some interesting articles and rates comparison for car insurance in NZ
http://www.interest.co.nz/category/tag/car-insurance
http://www.interest.co.nz/insurance-data/car/premium-rates
http://www.interest.co.nz/insurance-data/car/coverages-compared

 



Nety
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  #399621 3-Nov-2010 14:06
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In this case I had 3rd party while the other driver had full cover. They did not accept that it was their fault (it was).
This meant that their insurance company wanted me to pay for the repairs to their clients car however because I did not accept that it was my fault with my insurance company they would not pay for the damages to the other car.
This left me with the full cost of repairs to their and my own car or having to pickup the excess on my policy and full repairs for my car for an accident that was not my fault. As the excess was not an insignificant amount and I was not willing to lie in order to minimise how much I had to pay it was looking expensive.

Does that make more sense?

The other parties insurance company put in a small claims against me so I counter claimed for the cost of my repairs.
Small claims upheld my case and tossed out theirs so I came out OK but it was over six months of stress. Better to have full cover I say and let the insurance companies decide who pays.







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bazzer
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  #399626 3-Nov-2010 14:14
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Nety: In this case I had 3rd party while the other driver had full cover. They did not accept that it was their fault (it was).
This meant that their insurance company wanted me to pay for the repairs to their clients car however because I did not accept that it was my fault with my insurance company they would not pay for the damages to the other car.
This left me with the full cost of repairs to their and my own car or having to pickup the excess on my policy and full repairs for my car for an accident that was not my fault. As the excess was not an insignificant amount and I was not willing to lie in order to minimise how much I had to pay it was looking expensive.

Does that make more sense?

The other parties insurance company put in a small claims against me so I counter claimed for the cost of my repairs.
Small claims upheld my case and tossed out theirs so I came out OK but it was over six months of stress. Better to have full cover I say and let the insurance companies decide who pays.

It makes sense (it did before, I suppose), I'm just surprised that your insurance company didn't want to know.  I wonder how the outcome would've been if you'd had full cover.  Someone still needs to decide whose fault it was, or would you have just paid your excess and had your car fixed?



nzscom
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  #399631 3-Nov-2010 14:22
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Speaking personally here and not on behalf of NZS.com, I've been hit 4 times in Christchurch in 6 years (yes been hit, I swear I didn't cause the accidents!) and not one of those people had insurance of any form. 

if I hadn't had insurance, I would have faced annoying and lengthy legal battles and court appearances to get anything out of them as all of them tried to give some form of excuse to escape paying. But as I am insured (with AMI), my insurance took care of everything.

In one major incident, the rep at AMI was really great and appeared in court with me, but she then left the company and I dealt with a guy who was really hard to deal with and actually said the words to me: "You know, we're not going to get anything out of this when all is said and done" referring to AMI giving me the money that was owed to me.

So yeah, I think it's insane that there are so many people on the roads in NZ without any form of insurance AND that you can be behind the wheel of a high performance car and on a road at 15 years old!  Mad.

And to the guy above who said that males under 25 get charged a premium in New Zealand - seriously you should try and get insurance in the UK. A friend of mine at 18 years old tried to get insurance on a 1.6L Honda Civic. He was actually told a flat 'no' by a number of insurance companies because they all said the car was too powerful! It's not uncommon to buy a car for 500 quid and then pay well over that per year for the lowest level of car insurance. There's a great Top Gear episode where the three presenters pretend to be 17 year olds and try and get car insurance quotes. They're all told no and end up adding themselves as named drivers to 'their parent's' insurance. 

Most new drivers in the UK don't have their own car insurance - they get added to their parent's insurance as a named driver (i.e. not the primary driver) and they keep their car's ownership in their parent's name.

When I first came to New Zealand as a 19 year old male and asked to be added as a named driver on my mother's car insurance, we were quoted $14 for a year. I couldn't believe it! Told them they'd made a mistake. Nope.

- Mark

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  #399650 3-Nov-2010 14:47
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bazzer: 
It makes sense (it did before, I suppose), I'm just surprised that your insurance company didn't want to know.  I wonder how the outcome would've been if you'd had full cover.  Someone still needs to decide whose fault it was, or would you have just paid your excess and had your car fixed?


Your surprised.. I can assure you I was very surprised myself but they only payout on third party when you accept that you were at fault or are proven to be at fault so for them why help when there is no cost to them if I have to pay. It completely changed my attitude to 3rd party insurance. 

If I had full cover then it plays out quite differently. Basically the two insurance companies will work out who is at fault going off what has been reported. They will then come to an agreement and the person that they decide was at fault pay their excess while the other will not pay anything.







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nzscom
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  #399653 3-Nov-2010 14:55
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You need to make sure you're part of the conversation when it comes to insurance companies as well. A friend of mine was in an accident that he believed was the other person's fault. He'd swapped insurance details with the other person and then the next thing he knew was that his insurance company had already paid the other party as if it was my mate's fault. They hadn't even asked my mate for his side of the story! Kinda daft seeing as they also would have lost out if it was his fault.

- Mark

LittleGreyCat

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  #399663 3-Nov-2010 15:18
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Had one quote for $315 for the yar, but couldn't get monthly because I don't have an NZ bank account for Direct Debit.

Next stop AMI.

 
 
 

Trade NZ and US shares and funds with Sharesies (affiliate link).
NonprayingMantis
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  #399674 3-Nov-2010 15:33
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Nety:
bazzer: 
It makes sense (it did before, I suppose), I'm just surprised that your insurance company didn't want to know.  I wonder how the outcome would've been if you'd had full cover.  Someone still needs to decide whose fault it was, or would you have just paid your excess and had your car fixed?


Your surprised.. I can assure you I was very surprised myself but they only payout on third party when you accept that you were at fault or are proven to be at fault so for them why help when there is no cost to them if I have to pay. It completely changed my attitude to 3rd party insurance. 

If I had full cover then it plays out quite differently. Basically the two insurance companies will work out who is at fault going off what has been reported. They will then come to an agreement and the person that they decide was at fault pay their excess while the other will not pay anything.



Your situation sounds bizarre
Neither of you admitted fault, yet somehow you got personally landed with the cost of repairing both cars, even though the other guy was fully comp, and you had 3rd party?  At worst you would have to pay for your excess and the repair on your own car, and at best you would have to pay nothing.

Your choice was either to admit fault, and so only pay your excess and pay for your own car,  or to not admit fault and pay for your own car repairs in full as well as the other person's car repairs?  so you decided to go with the option that was no doubt orders of magnitude greater than simply paying the excess?

Smells fishy to me.


In situation where neither driver admits fault and it cannot be determined by someone else (like a polic officer who witnessed the accident or something) the normal process is that each drivers insurer pays for their own person's claim. (or the two insurance companies split the cost down the middle) 


how would you being fuly insured have helped in this sutuation?  If your insurance company only pays out if you admit fault, and you didn't want to admit fault,  then they wouldn't have paid whether you had 3rd party or full insurance.




Nety
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  #399684 3-Nov-2010 15:43
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NonprayingMantis: 
Your choice was either to admit fault, and so only pay your excess and pay for your own car,  or to not admit fault and pay for your own car repairs in full as well as the other person's car repairs?  so you decided to go with the option that was no doubt orders of magnitude greater than simply paying the excess?

Sorry so you are saying that I should have lied and said it was my fault when it was not and had told my insurance company that it was not my fault?







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graemeh
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  #399685 3-Nov-2010 15:43
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NonprayingMantis:
Nety:
bazzer: 
It makes sense (it did before, I suppose), I'm just surprised that your insurance company didn't want to know.  I wonder how the outcome would've been if you'd had full cover.  Someone still needs to decide whose fault it was, or would you have just paid your excess and had your car fixed?


Your surprised.. I can assure you I was very surprised myself but they only payout on third party when you accept that you were at fault or are proven to be at fault so for them why help when there is no cost to them if I have to pay. It completely changed my attitude to 3rd party insurance. 

If I had full cover then it plays out quite differently. Basically the two insurance companies will work out who is at fault going off what has been reported. They will then come to an agreement and the person that they decide was at fault pay their excess while the other will not pay anything.



Your situation sounds bizarre
Neither of you admitted fault, yet somehow you got personally landed with the cost of repairing both cars, even though the other guy was fully comp, and you had 3rd party?  At worst you would have to pay for your excess and the repair on your own car, and at best you would have to pay nothing.

Your choice was either to admit fault, and so only pay your excess and pay for your own car,  or to not admit fault and pay for your own car repairs in full as well as the other person's car repairs?  so you decided to go with the option that was no doubt orders of magnitude greater than simply paying the excess?

Smells fishy to me.


In situation where neither driver admits fault and it cannot be determined by someone else (like a polic officer who witnessed the accident or something) the normal process is that each drivers insurer pays for their own person's claim. (or the two insurance companies split the cost down the middle) 


how would you being fuly insured have helped in this sutuation?  If your insurance company only pays out if you admit fault, and you didn't want to admit fault,  then they wouldn't have paid whether you had 3rd party or full insurance.


My thoughts too.  I think the insurance company just didn't handle it well.

If you had lost at small claims then you would have been "at fault" in the accident and your 3rd party cover should have paid out for the cost of repairs to the other car.

Full cover is different.  The companies operate under a "knock for knock system" so each company covers it's own costs where both parties have full cover so it doesn't really make much difference who is at fault.

Nety
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  #399689 3-Nov-2010 15:50
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NonprayingMantis: 
how would you being fuly insured have helped in this sutuation?  If your insurance company only pays out if you admit fault, and you didn't want to admit fault,  then they wouldn't have paid whether you had 3rd party or full insurance.

Ah what? If it was full insurance then worst case I would have paid the excess on my policy. With full cover even if you are in the wrong you only pay your excess. That is kinda the point.  







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Paulthagerous
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  #399693 3-Nov-2010 15:54
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bazzer:
Paulthagerous: Same for me with my car:  1800 at AA/AMI ets, $675 at State

When I started driving 15+ years ago, State had a reputation of being the insurer you went to when no one else would insure you (young, sports car etc).  They also had a reputation for making thing difficult at claim time.  I never had any problems myself, but usually those reputations are well deserved.  I don't know if things have changed since then, but cheaper isn't always better.

I suppose AA/AMI etc have higher premiums to discourage high risk business (or more fairly price for it).  That's fine by me, since otherwise I'd be subsidising that risk.


I wondered if there was some sort of 'catch' like harder to claim, but when my parents have had to claim a couple of times they have not had any issues.  Can't really see a downside.  Excess isn't even that high.

manta
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  #399761 3-Nov-2010 18:24
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LittleGreyCat: Had one quote for $315 for the yar, but couldn't get monthly because I don't have an NZ bank account for Direct Debit.

Next stop AMI.


If you're coming from the UK don't forget to get proof of your no claims from there, AMI will accept it - they want your business.

lxsw20
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  #399792 3-Nov-2010 19:40
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nickd:
boby55: With a 99 Camry you should be OK in terms of price as I don't it would be classed as a boy racer car or high risk.


I'm an under 25 male driver. No matter what I drive, everything is priced at boy racer premiums. My little 1.8L corolla? Premium is $1300 for comprehensive agreed value with AA. Regardless of your car, age and gender is rather important it seems. My parents own an identical car. Same type of insurance, $500ish.


I don't have agreed value, but I have an Integra Type R, one of the most stolen cars in the country and pay half what you pay @ age 23. Excess around the 1k mark. This is with Bay Insurance Broker.

Did you actually shop around? 

Paulthagerous
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  #399969 4-Nov-2010 08:32
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lxsw20:
nickd:
boby55: With a 99 Camry you should be OK in terms of price as I don't it would be classed as a boy racer car or high risk.


I'm an under 25 male driver. No matter what I drive, everything is priced at boy racer premiums. My little 1.8L corolla? Premium is $1300 for comprehensive agreed value with AA. Regardless of your car, age and gender is rather important it seems. My parents own an identical car. Same type of insurance, $500ish.


I don't have agreed value, but I have an Integra Type R, one of the most stolen cars in the country and pay half what you pay @ age 23. Excess around the 1k mark. This is with Bay Insurance Broker.

Did you actually shop around? 


Mines a Torneo Type R, second on the list of most stolen this year I think?  And probably a little bit faster. And I'm 21.  And my premium is half yours. +1 to shopping around.

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