Extensive hail damage

[franjae]

Those of you who had insurance payout, how was it assessed and can the insurance co. try and get out of paying and what if it was declared a natural disaster? Will this change anything?? Thanks!

[nicandlance]

Those of you who had insurance payout, how was it assessed and can the insurance co. try and get out of paying and what if it was declared a natural disaster? Will this change anything?? Thanks!

The damage and how my car was assessed is within this thread. Read back a few pages - it's all there.
AAMI agreed to pay me out today - should receive it early next week.

[franjae]

Doh!....I starting reading from the Perth pages and forgot the thread started a while ago!!! Sorry...

Good to hear a cheque's coming Nic!

[pologti18t]

The damage and how my car was assessed is within this thread. Read back a few pages - it's all there.
AAMI agreed to pay me out today - should receive it early next week.

Does that imply they are unable to source a car in a suitable amount of time? Do they refund the outstanding balance of your insurance premium?

[Flighter]

Latest is that AAMI are going to give me a cash settlement for my tsi, and I should have that by next week.
Now to start the bargaining all over again!

Uhhhh, aren't they supposed to simply supply you one "new for old"? Why should it be incumbent on you to secure another car, possibly at a greater cost to you than your insurance excess payment?

[Corey_R]

Because there are none in the country and it would be a 'to order' car from the factory. Insurance companies don't have any other method for obtaining a car than what we do.

[Flighter]

Because there are none in the country and it would be a 'to order' car from the factory. Insurance companies don't have any other method for obtaining a car than what we do.

I understand that, but if Nic (and hopefully me) is prepared to wait for new VW (as opposed to buying a more readily available brand) what the difference who makes the payment? I'd be pretty annoyed if after receiving a cheque I discovered I was up for more than my insurance payment was supposed to cover. Insurance is supposed to protect us from financial loss after all.

[markwid]

I understand that, but if Nic (and hopefully me) is prepared to wait for new VW (as opposed to buying a more readily available brand) what the difference who makes the payment? I'd be pretty annoyed if after receiving a cheque I discovered I was up for more than my insurance payment was supposed to cover. Insurance is supposed to protect us from financial loss after all.

On the other hand, with money in hand, you have more options open to you. You could buy something else; upgrade/downgrade, new/used, etc...

[Flighter]

On the other hand, with money in hand, you have more options open to you. You could buy something else; upgrade/downgrade, new/used, etc...

I don't object to more money in hand, but you have to wonder how likely is that?

[Corey_R]

I understand that, but if Nic (and hopefully me) is prepared to wait for new VW (as opposed to buying a more readily available brand) what the difference who makes the payment? I'd be pretty annoyed if after receiving a cheque I discovered I was up for more than my insurance payment was supposed to cover. Insurance is supposed to protect us from financial loss after all.

Actually - insurance has never covered 'financial loss' per se - that is why there is 'gap cover'. But I get the gist of what you're saying

[Flighter]

Actually - insurance has never covered 'financial loss' per se - that is why there is 'gap cover'. But I get the gist of what you're saying

Perhaps I'm naive, but when I read my policy and it says "new for old, including 12 months rego etc", I take it to mean they'll take my write off and give me a brand spanking new one (less the excess), or sufficient cash to achieve the same end - nothing more, nothing less.

[Corey_R]

This is from the NRMA Comprehensive Plus PDS:

New replacement vehicle
If your vehicle is considered by us to be a total loss and we agree to pay your claim, you can choose to have your vehicle replaced, if:

• you have bought your vehicle new, or you purchased a demonstrator vehicle, and
• the vehicle is in the first 24 months of its registration at the time of the incident, and
• a replacement vehicle is available in Australia which is of the same make, model, engine size, equipment level and paint type, and
• we have agreement from any credit provider noted on your current Certificate of Insurance – if applicable, and
• the vehicle has a tare weight of less than 2.5 tonnes.

we will:

• replace your vehicle with a vehicle of the same make, model, engine size, equipment level and paint type,
• replace any modifications, options or accessories,
• pay the first 12 months registration and Compulsory Third Party (CTP) Insurance, if applicable, on the replacement vehicle.

you need to:

pay us any:

• excess that applies,
• outstanding premium, including the balance of all monthly instalments,
• refund you receive from the registration and CTP Insurance over your vehicle.

If your vehicle is replaced:

• your Policy comes to an end and no refund of premium is due, and
• your vehicle becomes our property.

I would say similar conditions are in most people's policies.

[markwid]

I don't object to more money in hand, but you have to wonder how likely is that?

Who said more money? I said more options...

[nicandlance]

Burwin told me that if they can't source a car within Australia, I could be in for a wait of 6 months.
AAMI told me that they were in no better position to source a car than I was, and asked whether I'd prefer to be paid out.
I was a little concerned about them sourcing a vehicle that is already here (in case it happens to be one that has been damaged and repaired), I think I'd much rather have one that's on the way. Will just have to take my chances and see....
I have contacted two dealers to see what they can do for me. The dealer I bought it from told me he could do exactly the same as what I had before - minus the cost of the mats because I took them out of the other car (if there is one available of course).
I'm in a catch 22, but at least one step closer to replacing the one I had.

[Corey_R]

Yeah Nic, I think you're doing the right thing here. I'd too be worried about some dealers doing switches to cars etc and ending up with a repaired car unaware.