‍The Premium Yarn - The One Insurance Blog that won't put you to sleep.

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Welcome to this month's edition of the Premium Yarn!

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G’day everyone, been a wee while hasn’t it!

I do hope your year is starting off well, if we haven’t had the chance to talk already 😊

I’m going to jump straight into some claims chat here, as I have a few points to note and don’t want to overload you with information on a Friday!

Vehicles Bang Ups

I have had a few vehicle claims since starting back and wanted to reiterate a couple of things in assisting us with helping as best we can, before, during, and after these incidents.

1. Please ensure the person driving your vehicle is appropriately licensed – if you have full cover on your vehicle, but the person driving at the time is outside of their license conditions, or isn’t qualified to drive that certain vehicle, then the entire claim will be void, and there will be no payout for anything (this includes salvage, towing, cleanup, etc.).
2. If you’re not at fault, please grab the other party’s license, vehicle registration, and contact information and if they have it, their insurance information (policy number and insurer name). If I have this information from the get-go, we can often get you into a rental vehicle at no extra cost while your vehicle is off the road or being repaired. If you don’t, then our insurer needs to post a hold liable to the third party in the mail or wait until the police release the information through an information request – this is all time you could be without a vehicle.
3. Please talk to a repairer to gauge their availability – it’s all well and good to have a friend of a friend who normally looks after your car, but if they aren’t available to help for another 3-4 weeks, then that’s not going to be an ideal solution for you, especially if the vehicle is deemed to be a write-off.
4. Speaking of write-offs, 99% of you are on a market-value policy, meaning that in the event of a total loss, the insurer will take a market valuation of the vehicle at the time of loss and base the payout on this (odometer, condition of vehicle, accessories will all play a part). It’s important to ensure that your vehicle is insured correctly to avoid any shocks here – we can guide you if you’re unsure, but I’d recommend a quick once over of your vehicle and note any accessories with us – if you’ve insured a vehicle for $10,000 and it’s actually worth $15,000, or worse, it’s only worth $7,000 – that is what you’ll be offered.

Get back on the road fast

We want you to have the smoothest claim experience you can with us – I get sometimes things go wrong and are outside of our control, like repairers mucking you around, but abiding by the above can make a massive difference with regards to how fast we can get you back on the road. If any of the above has struck a chord, let me know and Alice or I would be more than happy to talk you through this!

Business Owners – this one is for you 👇

In other news, we have our next business leaders event coming up on the 26th (next week) in the offices. This one is specifically targeted at business owners who are looking to diversify their investments into property. Maree and Nick From specialist property brokers iFindProperty are our expert speakers on the evening. I’ve sent emails to a couple of you about this, but if you think that you might find that interesting or beneficial, then please reply to this email and I’ll send you some information through.

Until next time, say hi to your Nan for me and I’ll talk to you next month!

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Joshua Rhind | General Manager

Caveo - powered by Velocity Financial

38 Vivian Street, Te Aro, Wellington

M: 027 384 6444

E: joshua@caveo.co.nz

W: www.caveo.co.nz

Read Caveo's disclosure here.

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‍Always get professional advice

The information shared in this post is meant to be general guide to support you on your journey. When making important decisions about your finances, we encourage you to seek independent financial advice first, tailored to your unique situation.  As well as talking with a financial adviser, make sure you talk to your lawyer and accountant too – together they'll help you find the best solution for your specific situation. Our knowledgeable financial advisers are here to help. Check out our website for the details about our financial advisory services in our disclosures  https://www.velocityfinancial.co.nz/disclosure-statement. 

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