What is a No Claim Discount?
It’s a discount on your car insurance premium. Your No Claim Discount is calculated on the number of years you have been driving and whether you have previously made any claims.
As you increase your number of claim-free years, your discount also increases until it reaches the maximum discount, also known as a 'Rating 1'.
What is the difference between agreed and market value?
Agreed Value – The fixed amount we agree with you to insure your car for, and the maximum amount we will pay for damage caused to your car in the event of a claim. This amount can change when you renew your policy.
Market Value – The reasonable cost to replace your vehicle with one of the same make, model, age and condition as your car at the time of loss or damage. It does not include allowance for warranty, stamp duty or transfer costs. It is always good to have an idea of what your car may be worth, you can find out by searching for your car at http://www.redbook.com.au/
Why is it important to tell Maxxia about my driving record?
We believe safer and more responsible drivers shouldn't have to pay high premiums to make up for the more risky drivers, so you could enjoy significant savings on your car insurance.
To achieve this we underwrite each policy individually and calculate your premium based on your driving record only, so you don't pay extra for bad drivers.
If you do not disclose your driving record, past claims or accidents when asked, this is called non-disclosure, it could lead to a claim being paid only in part, or not paid at all.
Will I lose my Rating 1 if I have a car accident?
We want you to get real value from our insurance products, so we offer you the opportunity to protect your Rating 1 discount. Choosing our No Claim Discount protection option allows you one car insurance claim during each period of insurance, or up to two claims in three years, without your Rating 1 being affected.
If you have No Claim Discount protection with us for two consecutive claim-free years, we will provide you with a Rating 1 for life. This means your discount will remain at the maximum regardless of the number of claims you make – so long as you continue to take out No Claim Discount protection.