CT Insurance.....

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CT Insurance.....

Postby mr_grumble » Mon Dec 31, 2007 2:21 pm

I've read most threads here regarding insurance and thought nothing more about the matter untill now, that I've finished my CT build.

I've rang -

CIL
GIO
AAMI
CGU
SUNCORP

and all but CIL don't want to know us because it's an 'own manufacturer'
CIL are happy to cover us providing we supply a valuation certificate , of which has to be from a CT Dealer.

We only have 2 local CT manufacturers close by and neither value it over $5000k, I think there's a bit of 'well, your didn't buy from us' going on there.

All up it's cost me $10,000 to build and looking at an equivalent setup from our local guy's, it's replacement cost would be $20,000.

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It's certainly no lesser product than the 'Complete Campsite' and 'Camel Campers', if anything I'd have to say in some areas it's better made, with just as many highquality fit out's as these, yet they say its a quarter the value ????????

Has anyone come up against something similar ??? I want my CT insured for whats it's actually worth, not what some disgruntal manufacturer that has the &%$#@ because I decided to build one rather than buy from him, says it's worth.

UPDATE.......
The missus just suggested calling the Commonwealth Bank, apparently they are doing insurance on Caravans and Trailers now.

I called and told them of our delima. They went back and contacted their underwritter and have agreed to insurer the CT for $19,000 plus $1000 for contents, stating that they recognise that the build was made from commercially available components, ie off the shelf trailer, camp-top, kitchen etc and not a 'back-yard' job.

The policy states it's an Agreed value and that they don'k seek any further valuation.

It all seems a little too easyand am concerned, especially becuasue it from a BANK. Is there anything else that should be stated in the policy schedule to cover us in the event of a full write-off that they can use to get out of the Agreed value ?

Help appreciated, we might just get out for a few days before I head off back to work if this policy holds water .

Steve
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Postby Al&Sharon » Mon Dec 31, 2007 9:43 pm

WOW Mr Grumble what a fantastic looking trailer im sure if the bank has given you the policy you wouldnt have a problem you have to be proud to have the tallent to make that happy camping .Alan
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Postby CCC » Tue Jan 01, 2008 7:09 am

very impressive mr grumble

only $1000 for contents though?
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Postby Scolers » Tue Jan 01, 2008 8:45 am

That's good news mate!

Alma, they will give you a higher contents value but it's just about double your premiums ... I asked for $3k (RACQ) and it went from $300'ish to just over $600.

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Postby Troyk » Tue Jan 01, 2008 9:14 am

It New Years morning, and we are chatting about CT insurance. Talk about living life to the max. :grin:

Mr Grumble, good score. On another forum a guy had to register as a CT manufacturer to get his build insured, so you have done well.

With regards to contents, we felt we were never going to have more than $1000 worth of gear in the CT. Biggest single item is our icebox ($200) when we take it. Other stuff is chairs, tables, pop up gazebo, shower tent, food and clothes. You could count that to $1000 but probalby not over it.

I guess it all comes down to what you might take.
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Postby Pauly » Tue Jan 01, 2008 9:16 am

Whats stopping you from redgistering a camper trailer name (about $130) then doing a self valuation? Take up the commonwealths policy using this name then you have a named trailer and the majority of insurers will recognise its been insured before and cover you.

Lets face it theres that many other CT "builders" out there.
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Postby mr_grumble » Tue Jan 01, 2008 12:22 pm

Yeah, I was beginning to freak yesterday at the possibility that I wouldn't be able to insure. Was lucky that ;

1). The missus stumbled across the Commonwealths insurance.
2). The underwritter was as reasonable as he was.

Got to say, and I hate to :? , the Commonwealth's Comminsure was pretty good on the premium front.

The only other insurer that was willing to touch us was CIL who, after a valuation was willing to cover for $15k + $1k contents for a premium of $287.

Comminsure covered us for $18k (agreed) + $1k contents for $330.

I only opted for the 1k contents as the way the underwritter configured the schedule, the kitchen, cooker, gas bottles, jerries etc were all considered under the CT's insurance and not contents :?# So all the contents had to cover are chairs, BBQ plate, a couple of tarps, some tools etc.

Yup is very sad were here in the middle of most peoples holidays and talking online about CT Insurance :***

Was thinking about taking it out for a couple of days, but after seing the amount of people camping at out local camp grounds the other day, I think I might postpone it a few weeks :lol: Don't do crowds all that well, especially whilst camping
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Postby CCC » Tue Jan 01, 2008 12:55 pm

mr_grumble wrote:I only opted for the 1k contents as the way the underwritter configured the schedule, the kitchen, cooker, gas bottles, jerries etc were all considered under the CT's insurance and not contents :?# So all the contents had to cover are chairs, BBQ plate, a couple of tarps, some tools etc.


ahhhh, there you go, i was thinking of the kitchen alone and fridge (if applicable) as contents besides the smaller things, so that sounds very reasonable then.

mr_grumble wrote:We only have 2 local CT manufacturers close by and neither value it over $5000k, I think there's a bit of 'well, your didn't buy from us' going on there.

Its unfortunate about the 2 CT manufacturers around here with that kind of attitude .... makes you think twice about using their business
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Postby mr_grumble » Tue Jan 01, 2008 6:57 pm

Yes, I've been down to Complete Campsite on a couple of occasions, mainly to get ideas :booty , but as well to try and purchase components such as stone guard and dust seals.
As soon as they realised that I wasn't there to shell out $25k+, boy could you see their attitude change. When enquiring about the dust seals, I was happy to pay their markup on them, but instead, I was flung a brochure from a box behind the counter and told to go call them and off the sales monkey wondered ! I got my own back though, had a quick word with a recently retired couple going in for a look as I stormed off :armsup
Is amazing what customer service $25k will buy.
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Postby Ozzycamperboy » Tue Jan 01, 2008 10:07 pm

Ahh customer service, so much can be lost or gained with such little effort, I really don't understand some places. I mean, its not hard. :?

Watched a flick about some baker in a town in Victoria as part of My design tech course, and this bakery is famous (the name eludes my memory though :oops: ), and there's really nothing special about it. It bakes the same products 100's of other stores around Australia bake, and its not huge, nor is it fancy. But it got famous for its customer service.

And it's so easy I want to slap people who can't get it right and take over their business. But I can't :lol: , and somehow they usually still manage to survive :?
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Postby will_deness » Tue Jan 08, 2008 9:52 am

If you dont want to go with comminsure. You could possibly go to your prefered insurer armed with all the receipts for the project, to show the material value of the camper.Banks insurers, in fact any financial intstutute just love stacks of paperwork. I have a theory its because they would much rather beleive the written word than make a decision.
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Postby mr_grumble » Tue Jan 08, 2008 9:53 am

If I only had them all :(
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Postby GypsyLady » Tue Jan 08, 2008 6:00 pm

mr_grumble wrote:If I only had them all :(


Surely an assement would prove the point, receipts or not.
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Postby mr_grumble » Wed Jan 09, 2008 6:49 am

As far as the insurance companies are concerned, and I can only assume any financial institution would be the same, an 'assesment' has to be done by a dealer, that is a 'registered business that manufactures CT's' (their words).

Ever been into a CT manufacturer and asked them to evaluate a competitors product, or even worse, something you've built yourself that takes business away from them ? Ain't pleasent :#

Each of the three manufacturers I seen wouldn't value my CT for even 60% of the material costs I forked out. Even though on paper I could match specifications almost identically to their product they 'valued' at $20k.

Comminsure, or should I say Allianz as their the underwritter, usually stick to market value policies, but as I was able to demonstrate to them, by means of specification comparisons & photographic evidence, they were happy to offer an agreed value policy, more than I could say about the others :booty :booty :booty
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Re: CT Insurance.....

Postby sienna » Fri Nov 13, 2009 3:40 pm

I know this thread is a bit old but I thought I'd add my two cents worth.

We've had my hubby's car, which was a limited edition special, insured with comminsure for years now because they had the best quote and we had other products with commonwealth at the time. I must say they have been pretty good as far as claims go. We had a few over the years and they have always paid up quickly and with no hassles. I would have no qualms with them insuring your ct, especially as they have given you an agreed value. Hard to come by.
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