Insurance knock-back by Suncorp

Submitted: Wednesday, Jun 04, 2008 at 06:21
ThreadID: 124771 Views:3768 Replies:3 FollowUps:4
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Hi All

We have been with Suncorp for the past 18 months, insuring our beloved F250, which is in A1 condition and has only done 102,000klms. and which they would only agree to insure for $57,550. We paid a lot lot more than that. Wanting to review our Insured Value with them recently, we supplied them with a list of mods, upgrades & improvements (which would have taken our outlay to over $100,000) at their request. We had a reply from Suncorp today.."Insurance Denied" Reason: "Too many extra's". We have never made a claim and have excellent driving records.

Has anyone else experienced this with Insurance Companies when trying to get decent cover for their vehicle?

We were shocked at being treated so shabby by Suncorp.

Sue & Jeff
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Reply By: Jimjan - Wednesday, Jun 04, 2008 at 07:42

Wednesday, Jun 04, 2008 at 07:42
Sue and jeff,
Had same problem in Adelaide. Tried to find out what it would cost to insure a Silverado, SGIC said we would have to put our home and contents as well as our other car insurance with them or they would not insure it. AAMI said a Silverado is not on their list. Spoke to Shannons and they were terrific, reasonable quote and pleasant about it all. Just Car Insurance quoted a silly premium and $7000 and $14000 excess for accident and theft respectively. Try Shannons.

Jim
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Follow Up By: Turist - Wednesday, Jun 04, 2008 at 08:12

Wednesday, Jun 04, 2008 at 08:12
I am currently insured with www.mbinsurance.com.au/

Excellent rates.

Bob
"Do It While You Can"
Nobody is getting any younger.

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Reply By: Motherhen & Rooster - Wednesday, Jun 04, 2008 at 08:29

Wednesday, Jun 04, 2008 at 08:29
Hi Sue & Geoff

Insurance companies want it all their way, don't they?

Way back when i was a teenager working for an Elders branch which included insurance agency, because of the high percentage of motor vehicle claims, insurers started knocking back insurance for a single vehicle and would only cover if they got the whole package, eg including house and contents. It is even harder trying to get insurance for a teenager's vehicle, and if you can get it, premiums and excesses make it hardly worthwhile. Even harder getting insurance for an underage driver/owner who has a special licence to get to work.

When my renewal came this year (through an Elders Insurance Broker), i was horrified to see the premium for the F250 was over $1,000 so questioned it and the Broker went back to the underwriter and reduced it to just under $1,000. We have it insured at what we paid for it, but the insurer always has the clause something like "or market value if this is less". Fair enough in a way, otherwise we could all go out and insure our vehicles for squillions and then have a write-off accident. For some reason, the Red Book has the F250 valued at way below what we are paying, although it is supposed to reflect recent sales.

Motherhen

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Follow Up By: Cobber - Wednesday, Jun 04, 2008 at 09:15

Wednesday, Jun 04, 2008 at 09:15
Hi Motherhen, (worked for Elders) ex Dalgety boy myself........Cobber
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Follow Up By: Motherhen & Rooster - Friday, Jun 06, 2008 at 09:31

Friday, Jun 06, 2008 at 09:31
That really dates you Cobber!

Mh
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Reply By: Doug and Kim - Thursday, Jun 05, 2008 at 05:19

Thursday, Jun 05, 2008 at 05:19
AAMI insure our F250 heaps of mods no problems $90,000 agreed value for under $800.00
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Follow Up By: dbars - Monday, Jun 09, 2008 at 22:43

Monday, Jun 09, 2008 at 22:43
Hi Sue & Jeff
I just insured my Silverado for a set amount and only paid $759.00 with all the extras through Northern City Insurance Brokers @ Woolloongabba Brisbane phone, they will ask how many kilometers you cmplete every year.0733917344- or tray Dawes in Nsw.
Hope this helps. dbar
Don & Lee-Ann
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