NO INSURANCE COVER FOR GOLF'S

[QUINN]

We will no longer cover Volkswagen Golf's under you current policy or we would have to increase your premium considerably.
Due to large increases in repair cost and higher than normal instances of theft.

I have two citi golf's I use in my business and can no no longer insure them.
Regardless of my claims history.
What's next .....we can not payout your life cover because you stopped at a red light and hot shot, we notified you 3 weeks ago this was a dangerous traffic light.......

[duncan drennan]

I know that Hollard no longer accepts new customers with Citi Golfs, but said they would continue with their current customers.

Which insurer are you with? (and maybe more importantly, who is the underwriter?)

[Dave A]

You have got to be kidding me

This is madness! Is crime that badly out of control?

[Vincent]

My car insurance went up by 100% for no apparent reason, except that I lived in a "high risk area," according to my insurers. I asked how they came to this figure, they said that their market research indicated a residential area with high criminal activity. I asked if I could see their research and results. Needless to say they refused, and readjusted my premiers to a figure that I was 'satisfied' with.

"Is crime that badly out of control?" I believe that it is...

[Dave A]

Is there any particular reason why Citi Golfs are being targeted?

Are they particularly vulnerable to theft, or is it simply an issue of popularity?

I'm still blown away by this. VW can't be amused. It'll be the death of that line if they don't solve it, surely. You won't be able to get finance on the vehicle

[duncan drennan]

Is there any particular reason why Citi Golfs are being targeted?

Did a quick search. Seems to only be Citi Golfs manufactured from 2004-2006. Here is the article,

Johannesburg - Hollard Insurance Company has stopped insuring some Volkswagen (VW) Citi Golf (Golf 1) models because of their high rate of theft.

The company, which insures 6 million vehicles, confirmed on Friday that it would no longer take new policies for Citi Golfs manufactured between 2004 and 2006. It said about 2 000 policyholders were affected.

Zuriel Naicker, Hollard's spokesperson, said the company was phasing out these models because the premiums would be unfair for other customers if the company insured their increasing theft risk. "We continue to cover other VW Golf models," said Naicker.

Full article on Business Report

[Dave A]

I think if Hollard is encountering unacceptable losses in a particular segment, they're entitled to decline offering insurance on that segment. Or at least load it somewhat. Of course, gov's position on financial products and AIDS is a clear sign that not everyone shares that view

My particular interest is why the Citi Golf is so popular with thieves. Don't they have the key chip security and electronic ignition security system? Availability of parts? Easy to tamper with the chassis number etc.?

There must be a reason.

[QUINN]

Apparently the golf 1 is a favorite in the townships, due to is cheap parts and "pimp" ability. They pend more on these cars to do them up than the cars are worth.
I believe they are easy to steal as well.

I was now told by my insurance company that they would insure, but at a premium.

Will try and get a response from VW.

[Dave A]

Gees. One of those times when popularity comes at a price!

[Caitlin]

I am currently paying R1000 a month on my VW golf, and amazingly enough, my car is only valued at R25 000. So in two years of paying insurance, I would have paid the total value of my car??? How is that justified? I get told my problem hinges on 5 factors:-

1. Im a women
2. Im under the age of 25
3. Its a high risk car
4. It white
5. Its older than 2004

VW's Golf 1's are targeted because unlike other cars, they do not work on computers. They sell the spare parts for easy money, they easy to repair, easy to steal (Breaking into a golf is easier than taking candy from a baby).

I have now managed to drop my insurance to R606.00 - still hefty

[Frankincense]

I'd say why insure it if it's only worth R25 000? Just get a tracker at R168 per month, and everytime you fetch it from the recovery pound, pop a grand or 2 on your sound again...as it wont return with that...if it returns.

BMW525i - never insured - "re -sounded" twice - stolen/recovered twice in 4 years...worth R25 000. Totally yearly expence = R168 X12 + R2000 (Sound) = R4000 per annum.

No comment on 3rd party issues.

[Dave A]

I'd say why insure it if it's only worth R25 000?

Other party claims if the accident happens to be your fault. Or worse still, you find yourself defending a claim against you even though it wasn't your fault. Legal fees are shocking nowadays and some insurance companies are not above having a go on the off-chance you might just pay up.

Getting a quote on balance of third party insurance might be worthwhile in this instance, though.

[Caitlin]

I see your point, however with Citi golfs, those cars get stripped in under an hour, and though I may have faith in the tracker system, if my car gets stolen (And its bound to), ill get nothing but a frame back and I wont be insured. Then im short R25 000.

I wanted to sell my car, but unfortunely I wont get jack, and due to the latest economic downfalls, i am pretty sure I wont get finance. I went the safe route and covered myself from all areas. Rather safe than sorry, cause while I consider myself to be an above average driver - its other people on the roads that I dont trust

So alas, im stuck paying R606.00 per month. I Shall continue to the war against insurance companies...