A friend had his car written off in the recent hailstorm in Melbourne's eastern suburbs.
His insurance company intends to deduct the balance of the registration (around $600) from the agreed value? Thus, the deductions will be his excess AND the ramining rego value.
Under the terms of the policy, they will own the vehicle upon payout so are in effect double dipping by deducting the balance from the payout and then having the ability to cancel the rego and get it back from Vicroads.
Is this common in policies?
His insurance company intends to deduct the balance of the registration (around $600) from the agreed value? Thus, the deductions will be his excess AND the ramining rego value.
Under the terms of the policy, they will own the vehicle upon payout so are in effect double dipping by deducting the balance from the payout and then having the ability to cancel the rego and get it back from Vicroads.
Is this common in policies?
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