Tony D Posted May 26, 2012 Share Posted May 26, 2012 (edited) Guys from OZ, can you elaborate on the advert I just saw regarding new car insurance cover? Company called "G-I-O" apparently is now selling insurance for your new car, that if you put it on the car within a year of first purchasing it...if there is any total loss within 12 years<Edit> Apparently lifetime replacement!<Edit>, they replace your car with a new one. I thought the idea was a pretty good one...interested to see the details. You guys get all the good stuff! Absolutely loved the advert---two guys hoisting a stainless steel BBQ unit onto a deck above the garage, and as the guy is explaining the coverage he daydreams his mate getting a back spasm, where the rope slips, the propane jug falls out of the grill, bounces, and lands into the open sunroof of the formerly new car---which promptly does a 'Simpsons' and explodes with the guy saying "I still get a new car!" Interesting ad, and interesting concept. Anybody have it, or have details? Love any ad where cars explode... Edited May 26, 2012 by Tony D Quote Link to comment Share on other sites More sharing options...
kiwi303 Posted May 26, 2012 Share Posted May 26, 2012 Similar insurances in NZ, but it is only for the term of the first owner, so fine if you KEEP your car for 30 years it's going to be a nice new car, but as soon as you trade up you'll need a new policy for the new car. The companies watch the statistics, which are a person/family in a position to buy a new car vs a used car generally keep it for between 3 and 5 years before trading up to another new car. So they don't expect to replace many 12 year old cars... In the end the risks and statistics say it's not real different than the normal policy risks. It's unlikely to be the case of writing off an old $2000 beater and getting given the keys to a $40,000 new car, more likely writing off a $30,000 car and getting the keys to a $40,000 car. I'd still just stick with Agreed Value policies. Write off the car and get an agreed amount of cash. Simple check, "is it fixable? Yes, Fix it, No, Here's your cash. No arguing about the fact the "equivalent" car is a different colour, automatic instead of your manual, single CD instead of 5 disc changer... or the cash the want to give you under the replacement value policy is for a bone stock blue booker value, not your slammed, chromed, bagged, 30" wheelied Stancemobile with a custom paint job... Seen it all happen before, much easier having a simple, agreed amount of cold hard cash handed over. Just up the policy value each time you bolt on another breakable, expensive, go-faster piece of bling. Quote Link to comment Share on other sites More sharing options...
Tony D Posted May 27, 2012 Author Share Posted May 27, 2012 Yeah, I know they're playing the statistics, but as the owner of a Y2K Frontier with no end to it's life in sight and nooooo real reason to trade it in I would be like the guy in the advert should I go over a bump and it sagged in half in another 10 years! Quote Link to comment Share on other sites More sharing options...
kiwi303 Posted May 27, 2012 Share Posted May 27, 2012 But you're not exactly Normal you know Quote Link to comment Share on other sites More sharing options...
Tony D Posted May 27, 2012 Author Share Posted May 27, 2012 If only I could post that photo I took in the Sydney Airport.... could confirm that last contention. Most people see one thing. When I saw it, and snapped my photo I titled it 'Aussie Foreplay'.... Over by the Maccer's in Terminal 1.... You gotta know the statue if you ever went through SYD! Quote Link to comment Share on other sites More sharing options...
kiwi303 Posted May 27, 2012 Share Posted May 27, 2012 Nah, Perth yes, but not Sydney... But if it's aussie and it's foreplay, it probably involves a sheep! Aussie! Aussie! Aussie! Ohhh! Ohhhh! Ohhhh.... Quote Link to comment Share on other sites More sharing options...
Tony D Posted May 27, 2012 Author Share Posted May 27, 2012 Indeed, it involved a sheep and shearing.... I've always preferred shaved.... Baaa! Quote Link to comment Share on other sites More sharing options...
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