In the last few weeks we released some information about the adjustments to our underwriting criteria and it drove a range of questions on premiums from readers. We have long noted that as a specialist insurer with an unmatched product, we cannot and will not compete on premiums. This doesn’t mean that there aren’t ways for you as a consumer to adjust premiums should that be important to you. Here’s a few tips:
1) Sum insured – by now everyone should know how we value your vehicle. If not, have a read of this article. As we regularly insure 4X4’s for significant sums that include the modification and accessory values, there is always scope to reduce these values for a lower premium. Note also that the basic vehicle itself can be insured for a Market or Agreed value.
2) Excess – the concept of a flexible excess has been around for some time. The idea is that in exchange for accepting to pay a higher excess in the event of a claim, you can get a lower premium. There are a number of levels that you can select so give us a call to discuss it more.
3) Multi-Policy discounts – Do you have more than one four wheel drive, or a Camper Trailer, Slide-on Camper or Caravan? Combine these items to get a 10% multi-policy discount on each additional policy you take out with us.
4) Training – Have you conducted any formal training for towing, or off-road driving? If the training you have undertaken qualifies, you can get up to 10% off your 4×4 or Caravan & Camper Trailer policy.
5) Join a Club – we have a number of clubs affiliated with Club 4X4. If you’re a member of one of these clubs then you can get yourself a 5% discount on your policy, for the life of the policy. Plus, you get a chance to make some new mates and get out with like minded enthusiasts.
Lastly, shop around. Insurance is a consumer product just like a fridge, suspensions setup or tyres. There is a consistent need to ensure that what you get meets your needs and the only way to do that is to check the market for price and product offering. If you’re hunting the cheapest price, then there are plenty of budget insurers our there; but always be mindful of the fine print and what exactly you get for your dollar. We like to consider our product to be a premium one, packed full of valuable features and benefits – as such it will be priced accordingly.
If there is any way we can help, please give us a call for a chat.