How many people have insurance with AMI / CLIC?

[Scoobydoo]

You can expect hiked premiums for your next renewal

http://www.stuff.co.nz/business/money/4856873/Quake-hit-AMI-insurance-bailout-could-cost-1-billion

I'm with AMI, so I'll probably shop around when it comes time to renew! The last time I did, AA was fairly similar in price (for an agreed value policy), so if AMI do decide to stick their premiums up, I'll definitely look at other options!

[Guest Black aRSe]

Yep will shop around when they go up but would expect most other companies to follow suit and use the quake as an excuse to put prices up too

[Jambun]

NAC shouldn't be affected should it?

[tmuff88]

I'm with AMI for all my insurance incl. 2 cars, house content etc. I wonder if they can afford payouts other than CHCH claims... kinda worrying.

[nickch]

 Jambun said:

NAC shouldn't be affected should it?

NAC has got nothing to do with AMI..

NAC is part of the IAG group..

so no worries there..

[boon]

Mmm I'm with CLIC. Have to see what's happening. I have a solid no-claims bonus with them which makes my insurance a LOT more affordable. Still 4 figures a year though, D'oh!

[ODB]

with AMI for house, contents and 2x vehicles.

Im in christchurch but will prob have a minimum claim with them-mostly paid for by EQC.

Given that the NZ govt has bailed out AMI to the tune of $500 m does the people now own AMI?

If so we should all get insurance with them as their ultimate profitability will benefit us all????

[Guest]

Im with jri insurance and i pay 365 for full comp per year, in case your looking when your policy stops.

the car is not a daily driver and its limited to 5000 km at that price but i only use it for track so its fine for me.

[MercuryFree]

 ODB said:

Given that the NZ govt has bailed out AMI to the tune of $500 m does the people now own AMI?

They havent actually bailed them out, the $500m is in case they do get fucked. So no. But the govt may end up at least controlling it if fans get shit covered

If my sleep deprived brain was Paying proper attention at least

[rex-leggy]

 ballsrburning said:

Im with jri insurance and i pay 365 for full comp per year, in case your looking when your policy stops.

the car is not a daily driver and its limited to 5000 km at that price but i only use it for track so its fine for me.

would you car even be covered at the track ? or you have it for theft?

3rd party fire and theft would be the go for you

[Guest]

 rex-leggy']

[quote name='ballsrburning said:

Im with jri insurance and i pay 365 for full comp per year, in case your looking when your policy stops.

the car is not a daily driver and its limited to 5000 km at that price but i only use it for track so its fine for me.

/quote]

would you car even be covered at the track ? or you have it for theft?

3rd party fire and theft would be the go for you

no the car is not covered at the track but i use it on the road as well to get to the track so because of this its fully comp.

[Guest]

AMI refused to insure my modified scooby (even thou my other 2 cars (1 had no claims bonus even)and house content was with them) .... went to Tower and they did me a deal on all my insurance (3 cars, house content) that worked out $2 more per month than what AMI charged me before the scoob !

So meh , cant really care about AMI .

[ODB]

i was seriously considering changing but now cant with earthquake claims going down.

When all settles down ill re look at tower if they will insure anything in chch anymore lol

[Old Skool Subbie]

 ODB said:

When all settles down ill re look at tower if they will insure anything in chch anymore lol

I wonder how many insurance companys will even want to touch chch.

Thing I heard was that they expect for Chch to still have descent aftershocks for the next 10 to 50 years ???

[Guest]

We just insured my partners new car with AMI. They were quite a bit cheaper than the AA even though my Legacy is insured with them.

[Old Skool Subbie]

A few years ago I tryed to get insurance on one of my other cars and AMI refused to insure me unless I moved all my other insurance to them too

AA was cheaper too.

[ODB]

They are probably talking out of their ass.

If AMI underwrites them it just means that you are essentially covered by AMI but in a specialist bracket of insurance that they use different formulas etc to calculate premiums ie non standard stuff.

Id imagine they all use the same pot of $$ to pay claims.

In some way, shape or form (increased premium?) you WILL be effected. You just might not be told how?

[Divine]

 Jambun said:

NAC shouldn't be affected should it?

NAC is a division of IAG-NZ

[Divine]

 ballsrburning said:

Im with jri insurance and i pay 365 for full comp per year, in case your looking when your policy stops.

the car is not a daily driver and its limited to 5000 km at that price but i only use it for track so its fine for me.

You will find that the insurance ceases when you are actually racing the vehicle. Provided thats what you mean by track.

[Divine]

 Old Skool Subbie']

[quote name='ODB said:

When all settles down ill re look at tower if they will insure anything in chch anymore lol

/quote]

I wonder how many insurance companys will even want to touch chch.

Thing I heard was that they expect for Chch to still have descent aftershocks for the next 10 to 50 years ???

At the Moment, NZI, AMP/Vero, Lumley Insurance wont touch Domestic Contents or Houses in the red zone, although they are doing vehicles subject to no Earthquake Damage, there the only ones I deal with so don't know about direct insurers like State, Tower, AA etc.