My default option for all insurances is to buy the cheapest policy with the highest excess, if not in fact "self-insure" as I do with flood insurance on "Riverbend" which would cost me a ridiculous $6,000-plus in premium. Instead of paying this money to an insurance company, I save it for a "rainy day", if you will pardon the intended pun.
After I'd bought that cute little MG3 (for no better reason than that Padma liked its metallic skye-silver colour), I walked into the office of my friendly NRMA insurers next door which whom I had been insured for the past 35 years, and asked for a Third Party Property Damage Motor Insurance which I've always thought to be the cheapest option. That was two weeks ago and I was right: it cost me only a very affordable $210.08.
When I had reason to be back there again today, I was attended by another equally friendly lady who, while glancing over my existing policies, asked, "Is there any reason why you took out only third party property damage on your new car and not a comprehensive third party fire and theft policy which covers your own vehicle to a maximum of $10,000?"
"Because a comprehensive policy is too expensive", said wise old me. "Not that much more expensive", said the friendly lady (whose name turned out to be Nicole). "The extra cover would only cost you an extra $60 a year!"
We cancelled the old policy and I paid the extra $60 - well, $62.56, to be precise - and now the cute little MG3 can go up in smoke or be hotwired by a roving gang of car-crazed teenagers, and I still get $10,000 back from the insurers. That's what I call great service! Thank you, Nicole!
P.S. Nicole, your head office just now emailed me a customer survey. You will be mentioned in despatches!
