Being a specialist insurance provider can be very rewarding, but also challenging at times. Club 4X4 differs to your every-day general insurer in every way. From our product offering, staffing and service levels right down to where you will see us on a weekend. Ultimately though, we are the same in that we make a promise to be there for you when things go wrong.
The reality is that the product that we have come to the market with can be quite a risky one; traversing on roads where stability is reduced, in vehicles that we insure for a whole lot more than what the market would value them at means potentially significant losses. This is why you will often find that our premiums are a little higher than the competition; and i haven’t even mentioned our bespoke benefits like Off Road Recovery Cover and Australia Wide Personal effects coverage yet!
What this means is that we have become the experts in how, when and where 4X4 vehicles crash. Hardly a glamorous title, but one that can be used to collect and provide further education and information to the market. Even more importantly, data and information that we can use into the future to lobby various government bodies for positive legislative change.
For now, we wanted to share with you all a snapshot of our claims experience over the last couple of years. From next week onwards, we will also start to unpack the common types of claims and provide some pointers on how to prevent some of these common incidents and perhaps more importantly, having to potentially end your holiday with your rig on the back of a tow truck.
At a high level, most of what we’ve depicted above is pretty unremarkable. Collisions form the largest component of claims and there is a liberal smattering of the various other claim types to compliment. What is interesting in Club 4X4’s portfolio is representation of Single Vehicle Incidents. These include a large representation of water ingress resulting from failed crossing attempts; damage on slippery tracks and other damage caused on the dirt.
It seems our friends down in Victoria are leading the way when it comes to claims. Not surprising at all given that Victoria forms our largest representation of policyholders; and why not with that glorious High Country to explore! Not ones to miss out, NSW follows the charge with QLD bringing up the rear with the rest of the country following suit.
Stay tuned for next week as we begin to delve further into some of the most common claims and how to prevent them!