Insurer NRMA has come up with a novel way of highlighting one of its car insurance selling points: ‘We automatically insure the extras others don’t’. To show the breadth and depth of this hole in many an insurance policy, the company plans to build an entire car from those extras, as nominated by consumers.
Fine print happens, and most of us aren’t that good at reading it. Especially in the matter of insurance policies. Most of which, while they cover the big things in our lives like households and cars, don’t go quite big enough to warrant calling in the up-front services of costly lawyers with fine-tooth combs.
No, we call them in when other sh*t happens, after which we find ourselves poring over the fine print to find out how we got diddled.
One of the more annoying stings buried in the fine print of many car insurance policies is the clause exempting optional extras and kit upgrades from the policy unless they’re nominated up front by the policyholder.
That’s right: many policies stipulate that to extend your cover to include your alloy wheels and side skirts, you have to nominate them explicitly, one by one. And that’s not just aftermarket stuff – it can extend to gear fitted by the factory or the dealer as part of the sale.
NRMA has come up with this novel marketing campaign highlighting its simpler, more comprehensive policy approach. It’s built on a simple idea: if it’s part of your car, it’s covered. Right down to things like aftermarket window tinting.
Over eight weeks, the company plans to build a car from a list of those optional extras on which customers are so often caught out. Having recruited a couple of its own mechanics to oversee construction, the company is calling for motorists to nominate the bits and pieces they love in their cars, many of which wouldn’t find cover in competing policies.
To find out more, check out this explanatory video…
Between now and the end of April, you can visit the campaign’s home page to add your suggestions and follow their progress as the car comes together. Help out with nominations and you’re in the running to win one of six $1000 cash cards.
The campaign originated from the company’s experience showing that consumers find it hard to draw the line between what’s an optional extra and what’s considered intrinsic to the car, particularly if the car is bought second-hand, spokeswoman Mariana Cidade told motoring.com.au. “So we’ve simplified the policy. It doesn’t matter if it’s factory- or dealer-fitted, or aftermarket – if it’s part of the car, we cover it. So buyers don’t need to worry about identifying what is and what isn’t considered an ‘extra’ on their car. All their car’s parts are automatically covered.”
Part of the motivation behind the simplified policy approach, she said, is to take into account the speed with which auto makers upgrade their product. “We'll have a model down as being specced thus, but when the customer buys it, the standard equipment list has expanded. We figure it's best just to work on the notion that whatever you buy that’s part of the car – new car or second hand – it's automatically insured. It’s easier for everyone.”
The campaign winds up on April 20.
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