Woolies car insurance has a reduced cost if you drive fewer KMs per year. You provide your odo reading when taking out the coverage. If you make a claim when outside of your agreed odo limit you are hit with $1k more excess. For me it works out much cheaper to have the lowest KM and then increase the agreed value by $1k to cover the increased excess. Am I missing something?
Ah, of course, thanks
Are you sure? I am pretty sure when you are not at fault you do not pay the excess, driver at fault pays full damages. Insurance company will sue them
Sorry I was thinking of if you can't identify the driver or any other circumstance where you do need to pay the excess.
Be careful trying to outwit these cheap insurers. It has a way of coming back to bite you.
Thoroughly read the PDS to see what the real consequences of going over kms is.
I wouldn’t recommend listing a proposed km figure you will exceed by a large margin. Not worth the risk. Ie don’t say you only do 10k km when you actually do more than 15k. Either that, or make sure you let them know you are going to exceed the figure of your situation changes significantly.
Eg I’ve nominated 10k for my vehicle. It’s based on real kms over the last few years. It’s possible I might go a bit over, but unlikey to go over 12k but could actually be only 8k if I keep cycling to work. Our main family car does more like 15k and I wouldn’t risk dropping that nomination back because it just does more kms.
Been with Wollies car insurance for years currently with 2018 Merc, do 7,000ks PA, made one claim no problem, updated 1000 extra driving miles think it was about $25, mate has same cover, his car was written off by a young boy racer while parked, they paid him in full 14 days later.
Is it done pro-rata? For example if I only drive my car 6 months a year and come July I’ve done 10,000km will they say I’ve exceeded 15,000 if I still have 6 months of policy left?
If you make a claim when outside of your agreed odo limit you are hit with $1k more excess.
This should be listed under the competitions forum.
Real competition when you drive without any insurance 😉
Just cancel if you pass the km limit, you’ll receive a refund for the remaining days.
Yes. If you need to claim and you don't have a total loss, then you're going to cop the additional $1K excess.
For example, if an uninsured driver hits you and causes $5K damage to your car then you eat the additional $1K excess.