If you're under 25 we'll treat you like a good driver straightaway. We'll give you at least a 50% No Claims Bonus when you take out an AMI Comprehensive, Third Party Fire & Theft, or Third Party car policy.* If you're 25 or older, you can still get a great rate on car cover.*Standard underwriting criteria applies. The No Claims Bonus applies to the premium amount excluding any optional covers and it does not apply to government levies or GST.
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It's a contract between you and an insurance company: you pay them a set amount. In return, the company promises to pay for possible future damage, injury, or loss (which isn't excluded in your policy). In other words, because you know that accidents do happen, you pay a small amount known as your Premium to cover them, instead of paying for the whole thing after the fact.
Your insurance cover is calculated based on a number of different things. For example age, gender, driving experience, and the kind of car you drive all play a part. As with all insurance policies, some customers pay more for their insurance than others based on these different things. The cost is basically made up of two parts, your Premium (the price you pay each year) and your Excess (the one-off amount you need to pay to make a claim).
An excess is a one-off amount you have to pay each time you make a claim, before your insurance looks after your claim. For example, a $500 excess means something like a door ding that will cost $350 to repair at the panelbeaters is at your cost, but anything above $500 is covered by AMI. Your excess remains the same, regardless of the value of the vehicle you're in an accident with.
Agreed Value is a benefit offered by AMI on your Comprehensive car insurance policy. It means that if your car is written off or stolen, we pay out the amount that was agreed at the time of taking out the policy (minus any excess). We take advice from a company that specialises in car pricing information to establish the value.
This is your coverage from AMI. It's the specific agreement we come to, including how much you'll pay, what is covered, and how much you'll be paid in the event of an accident or incident.
A claim is something you submit to your insurance company after an accident or incident. It's your way of asking them to help you handle the situation and pay out the money promised to pay in the event of something bad happening. You can read more about making a claim here.
Comprehensive insurance is our most advanced cover. It covers damage to your vehicle in the event of many kinds of unexpected situations, including (but not limited to!) accidental damage, theft, and fire.
Third Party Fire and Theft cover can be summed up as one that protects your car against fire damage and theft, as well as covering you in case you damage someone else's car or property. There is no cover for damage to your car in an accident where you're at fault.
Third Party Only generally covers your liability if you cause damage to someone else's car or property. Your car is not covered. We do have a bonus cover called ‘innocent party protection' if an uninsured driver damages your car.
Of course there are some things your insurance won't cover. These are in your policy documents.
After a non-injury crash you should swap names and addresses with other motorists involved. You'll find handy crash notes in the AMI app, but the kinds of things you need to note down are:
If possible it's always useful to take photos of the scene, damage to your car and the other motorists' cars.
If the crash involved another person's property, such as a fence, you should report it to the owner of the property within 48 hours of the crash. If the owner cannot be located, you'll need to report it to the police within 60 hours of the crash.
All crashes resulting in injury (such as broken bones or a night in hospital) should be reported to local police as soon as possible, but no later than 24 hours from the time of the crash.
Depending on what the modifications are, we may still be able to cover you. If you're unsure about something, it's best to tell us. Give us a call on 0800 100 200.
You won't be covered if anyone else under 25 drives your car, unless you're legally married to them or you have added them as a named driver to your policy. Call us on 0800 100 200 to add other drivers to your policy.
There are a few ways you can try to reduce the costs. You can choose a higher excess to help reduce your premium. Or you can choose to pay annually to get an annual payment discount.