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Thread: S3 Insurance

  1. #11

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    Quote Originally Posted by mfl View Post
    Yes every person and their dog does have opinion based on how their claim is handled or mishandled, my only advice is if you do get NRMA, get their comprehensive plus product, that covers you for a hire car as long as your car is being repaired. Yes the NRMA did the right thing in the end but only after we exhausted all their internal dispute processes and ended up with the Insurance Ombudsman, the issue was caused by the NRMA insisting on using their own mechanics.
    It's a shame that you had to go through all that, it sounds like a major PITA. I have to completely agree though, I think it's definitely worth optioning to have your own choice of repairer.
    2016 8V S3 Sportsback - Mythos Black - 19" S Performance Pack 2 wheels - Panoramic Roof - Black Optics

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    Quote Originally Posted by deangelj View Post
    As others have indicated there are other factors involved... what is your age, excess, location, and is it fixed/market value. Then you could compare.

    Made some mocking around with NRMA online by raising excess from :

    Driver over 30, market valued MY16 Pre-FL S3. Excess $1000 and parked in secured garage in Sydney West.
    Got to $2130 /yr with all 3 boxes ticked (hire-car, windscreen, choice of repairer).

    Wonder if it is the address that made the premium jump, there had been a lot of accident right outside my street over the past years.

  3. #13

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    Quote Originally Posted by yiph View Post

    Wonder if it is the address that made the premium jump, there had been a lot of accident right outside my street over the past years.
    You're right! Your address has a huge impact on the insurance risk assessment, especially if you live in a suburb with high claim rates for accidents and theft.
    MY16 Sportsback Sepang Blue
    Assistance package | S performance package 2 | Privacy glass | Sunroof | Load through facility | Black styling package | Exterior mirror package

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    Quote Originally Posted by mikek View Post
    I'll just add to this.

    I am also with NRMA... 2017 S3 - $80,000 agreed - $800 excess - QLD, Brisbane North

    September 17 - $1305

    Choice of repairer was an option I ticked. And I had to make a claim last week after someone reversed into car. The only audi approved panel repairer in brisbane isn't NRMA preferred... they took the quote without question, getting repaired in a fortnight. Might be a different story if I was at fault, but very happy with the insurance so far.

    Will update next month when its up for renewal.
    Just renewed my policy. Was $1335, and the agreed value dropped to $71200. I would have preferred $72500... but that was the max allowed. So the annual premium went up a touch, but I also increased agreed value to 100% and year 1 it wasn't 100%, but I can't remember what the max was.

    Anyway, premiums didn't increase significantly or at all if you count I upped the agreed value.

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    Most insurers have new car replacement on write off for 2 yrs, so you really should just tick market value in that case.

    Also if you have GAP insurance on your finance do market value, since that gap will just cover any difference for the life of the loan, you will save heaps of money rather than using agreed value.

    Switch to agreed when the car is fully paid off or if you own it outright after two years.
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    RS3 Sedan | Daytona Grey | RS Performance Package 2 | RS Design Package | Black High Gloss | Carbon Engine Cover | Matrix LED | Sunroof | Full Tint | Unitronic Stage 1+ | Michelin PS4S 245/35 Square

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    Quote Originally Posted by Javbomb View Post
    Most insurers have new car replacement on write off for 2 yrs, so you really should just tick market value in that case.

    Also if you have GAP insurance on your finance do market value, since that gap will just cover any difference for the life of the loan, you will save heaps of money rather than using agreed value.

    Switch to agreed when the car is fully paid off or if you own it outright after two years.
    There are some conditions on new for old on my policy... such as replacement must be available and finance company have to agree to a replacement. I won't know what my finance company will say, and my car was a non standard order with the black pack, matrix leds etc... so almost certainly won't be the exact car. My preference would be to be paid out and then I order the car I want. On top of that, at the time I got the lease there was a maximum I could finance from my company... this was basically the luxury car tax, so anything extra I paid out of pocket before hand. So if the lease is paid out I'm still about 15k behind. With that in mind I went with agreed, which will cover the loan, and the money I put in, plus money I've put into extras... dashcam, paint protection, tint etc. It is more premium, but I think its the only way to cover myself.

    Its probably good advise in other circumstances though

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    Quote Originally Posted by mikek View Post
    There are some conditions on new for old on my policy... such as replacement must be available and finance company have to agree to a replacement. I won't know what my finance company will say, and my car was a non standard order with the black pack, matrix leds etc... so almost certainly won't be the exact car. My preference would be to be paid out and then I order the car I want. On top of that, at the time I got the lease there was a maximum I could finance from my company... this was basically the luxury car tax, so anything extra I paid out of pocket before hand. So if the lease is paid out I'm still about 15k behind. With that in mind I went with agreed, which will cover the loan, and the money I put in, plus money I've put into extras... dashcam, paint protection, tint etc. It is more premium, but I think its the only way to cover myself.

    Its probably good advise in other circumstances though
    Don't you have gap insurance though? That covers any difference from what the insurers pay to what may still be owing on a loan at which point the loan is essentially invalidated and you can start all over again or walk away.

    Maybe a lease is different but I would never finance a car without it. Too risky.
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    RS3 Sedan | Daytona Grey | RS Performance Package 2 | RS Design Package | Black High Gloss | Carbon Engine Cover | Matrix LED | Sunroof | Full Tint | Unitronic Stage 1+ | Michelin PS4S 245/35 Square

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    Quote Originally Posted by Javbomb View Post
    Don't you have gap insurance though? That covers any difference from what the insurers pay to what may still be owing on a loan at which point the loan is essentially invalidated and you can start all over again or walk away.

    Maybe a lease is different but I would never finance a car without it. Too risky.
    Well I don't have gap insurance, but I effectively paid a $15,000 deposit... which it wouldn't cover anyway. Having agreed value will refund me that $15,000 plus pay out the loan and cover mods on new car, so I'm back to even.

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