Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Please note that it is not permitted to have referral links posted in your signature. Keep these links contained in the appropriate forum. Thank you.

https://www.boards.ie/discussion/2055940817/signature-rules
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Liberty Insurance free upgrade if car written off

  • 20-04-2012 7:10am
    #1
    Registered Users, Registered Users 2 Posts: 526 ✭✭✭


    Hey guys,

    Apologies if this has already been posted elsewhere, but reading the Indo this morning and it appears that if you have a comprehensive policy with Liberty and your car is written off, they will give you another car that is one year younger and has 15,000 km less that your original car. There is no extra excess or charge for this. It is the first time such a scheme has been introduced and it now puts pressure on other companies to do the same.

    Big big move as far as I am concerned.


Comments

  • Registered Users, Registered Users 2 Posts: 17,875 ✭✭✭✭MugMugs


    Same spec etc?


  • Registered Users, Registered Users 2 Posts: 1,190 ✭✭✭quenching


    If my car was written off I'd much prefer to be able to choose its replacement myself with the money paid out by the insurance company. Insurance companies aren't in the habit of being "generous" if they aren't gaining from it a lot more than the insured.


  • Registered Users, Registered Users 2 Posts: 998 ✭✭✭bf


    Seems another variation of the replacement with new that most insurance policies do if your car is up to 12 months old.

    Will be interesting if Liberty are extending it to all cars, regardless of age


  • Registered Users, Registered Users 2 Posts: 6,601 ✭✭✭touts


    Well most people insure their car the day they get it and never really challenge the valuation they are insured for after that. Thus most people are paying insurance on a notional value of the car which is way above the actual replacement value of the car. When it comes to paying out you'll be very lucky to get the actual replacement value and certainly will not get the notional value you were paying for. I'd say most people value their car at the price it would have been 2-3 years ago and I've yet to meet anyone who was not shocked at the low price they actually got for it from an insurance company after an accident.

    Therefore Liberty are just using this 1 year clawback as gimmick to gain publicity (and they are getting quite a bit out of it). It's a welcome change but in reality they are just giving people a little more of what they already paid for.


  • Registered Users, Registered Users 2 Posts: 85,046 ✭✭✭✭Atlantic Dawn
    GDY151


    Would be interesting if this applies to your car if it is stolen.


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 2,105 ✭✭✭ectoraige


    Just to clarify, they don't give you the car, they give you the value of the car.

    Example: If you write off an 08 Passat with 80,000km on it, they'll give you the value of an 09 Passat with 65,000km on it.


  • Registered Users, Registered Users 2 Posts: 17,875 ✭✭✭✭MugMugs


    Would be interesting if this applies to your car if it is stolen.

    Article says it does.


  • Registered Users, Registered Users 2 Posts: 15,483 ✭✭✭✭Vicxas


    If my car is written off, i dont want a 01 corolla, they are proper ugly!


  • Registered Users, Registered Users 2 Posts: 526 ✭✭✭heartofwhite


    ectoraige wrote: »
    Just to clarify, they don't give you the car, they give you the value of the car.

    Example: If you write off an 08 Passat with 80,000km on it, they'll give you the value of an 09 Passat with 65,000km on it.

    According to the article, they give you another car, not the money.

    "Chief executive of the Irish operation Patrick O'Brien said the new "better car replacement" add-on to comprehensive cover would mean that if a policyholder's car is damaged beyond repair, their car will be replaced with the same model car but one year younger and with 15,000 fewer kilometres on the clock."


  • Registered Users, Registered Users 2 Posts: 15,483 ✭✭✭✭Vicxas


    So is it an option on the policy?

    What happens if its a rare car? what happens if you never want to set foot in another type of that car as its a coffin in an accident?

    Theres far too many variables for this to be a good idea.


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 17,875 ✭✭✭✭MugMugs


    Vicxas wrote: »
    So is it an option on the policy?

    What happens if its a rare car? what happens if you never want to set foot in another type of that car as its a coffin in an accident?

    Theres far too many variables for this to be a good idea.

    No insurer in their right mind would source your car for you. They'd give you the market value of the younger car.


  • Registered Users, Registered Users 2 Posts: 2,105 ✭✭✭ectoraige


    According to the article, they give you another car, not the money.

    "Chief executive of the Irish operation Patrick O'Brien said the new "better car replacement" add-on to comprehensive cover would mean that if a policyholder's car is damaged beyond repair, their car will be replaced with the same model car but one year younger and with 15,000 fewer kilometres on the clock."

    Patrick O'Brien was interviewed by Matt Cooper last night and Cooper asked him if they supply the car or the cash, and O'Brien replied that they supply the cash as that's what the customer wants. It's about 12 minutes in.

    Irish Independent fails to get facts straight. News at 11.


  • Closed Accounts Posts: 27,833 ✭✭✭✭ThisRegard


    According to the article, they give you another car, not the money.

    "Chief executive of the Irish operation Patrick O'Brien said the new "better car replacement" add-on to comprehensive cover would mean that if a policyholder's car is damaged beyond repair, their car will be replaced with the same model car but one year younger and with 15,000 fewer kilometres on the clock."

    I think it was the same guy on the Last Word yesterday evening and he was explicitly asked if you get another car or cash and he said cash. the above quote doesn't say you get a car and not money.

    Vicxas wrote: »
    So is it an option on the policy?

    What happens if its a rare car? what happens if you never want to set foot in another type of that car as its a coffin in an accident?

    Theres far too many variables for this to be a good idea.

    Standard add on for fully comp, and again, you get the cash value of the younger and lower mileage equivalent.

    It actually sounds good, I've never rang Quinn for a quote apart from in my first year of driving about 13 years ago, I might check with Liberty at renewal time.


Advertisement