1 00:00:00,120 --> 00:00:02,240 Speaker 1: So more insurance issues. This time is not about the weather, 2 00:00:02,320 --> 00:00:04,560 Speaker 1: but cars and cars that get nicked to the country's 3 00:00:04,559 --> 00:00:07,280 Speaker 1: most stolen car turns out to be the excuse me too, 4 00:00:07,360 --> 00:00:10,360 Speaker 1: to aqua and given that if you've got one, it'll 5 00:00:10,360 --> 00:00:12,000 Speaker 1: cost you as much as three thousand dollars a year 6 00:00:12,039 --> 00:00:14,160 Speaker 1: to insure it. Now consuming New Zealand Chief executive John 7 00:00:14,200 --> 00:00:16,120 Speaker 1: Duffy's back with it's John, very good morning to you. 8 00:00:17,120 --> 00:00:17,720 Speaker 2: Good morning Mike. 9 00:00:17,840 --> 00:00:19,880 Speaker 1: So it's good on the fuel allegedly, and that's why 10 00:00:19,960 --> 00:00:21,840 Speaker 1: people buy them in the first place. If you balance 11 00:00:21,880 --> 00:00:23,439 Speaker 1: it out and go, look, I'm saving a fortune on 12 00:00:23,480 --> 00:00:25,800 Speaker 1: fuel because she's so efficient, but I'm paying extra insurance 13 00:00:25,840 --> 00:00:28,000 Speaker 1: because it might get nicked. Does the balance work out 14 00:00:28,080 --> 00:00:29,120 Speaker 1: or we wouldn't have a clue. 15 00:00:30,640 --> 00:00:33,320 Speaker 2: It's hard to say because everybody's insurance is based on 16 00:00:33,400 --> 00:00:37,480 Speaker 2: different factors, but it's clear that insurers are charging more 17 00:00:37,520 --> 00:00:40,080 Speaker 2: to ensure this topic car because of the risk of thefts. 18 00:00:40,159 --> 00:00:42,280 Speaker 2: So yeah, it could very well be that you cancel 19 00:00:42,320 --> 00:00:44,080 Speaker 2: out your fuel savings and your insurance. 20 00:00:44,080 --> 00:00:46,880 Speaker 1: Pretty how variable is it? So if you just after 21 00:00:46,920 --> 00:00:49,800 Speaker 1: a small car with a good fuel efficiency rate and 22 00:00:49,840 --> 00:00:52,319 Speaker 1: can you go to something completely different that doesn't get 23 00:00:52,400 --> 00:00:55,800 Speaker 1: nicked as often and therefore your premium will be markedly different. 24 00:00:57,400 --> 00:01:00,959 Speaker 2: You could, but it's not just how often or how 25 00:01:01,000 --> 00:01:04,000 Speaker 2: prevalent thefts of that type of car is. It depends 26 00:01:04,120 --> 00:01:09,600 Speaker 2: on your driving history, we live, how many people are 27 00:01:09,640 --> 00:01:11,720 Speaker 2: going to be driving the car. A whole lot of 28 00:01:11,760 --> 00:01:15,680 Speaker 2: other factors go into you know, the premium the insurance company, 29 00:01:15,840 --> 00:01:19,240 Speaker 2: whether it's on the street the precisely yet, whether you're 30 00:01:19,240 --> 00:01:21,520 Speaker 2: garaging your car or not, whether you install things like 31 00:01:21,560 --> 00:01:26,080 Speaker 2: an ammobilizer in the vehicle to deter theft. These are 32 00:01:26,080 --> 00:01:27,880 Speaker 2: all factors that an insurance company will take into a 33 00:01:27,920 --> 00:01:28,840 Speaker 2: can and noticeable. 34 00:01:28,920 --> 00:01:30,600 Speaker 1: If I have a Toyota Aqua and I say I've 35 00:01:30,600 --> 00:01:33,280 Speaker 1: gotten a mobilizer, I've never done anything in my life. 36 00:01:33,319 --> 00:01:35,440 Speaker 1: I've never made a claim. I'm a good player. It's 37 00:01:35,440 --> 00:01:38,200 Speaker 1: in a garage every night. Will that's see they see 38 00:01:38,240 --> 00:01:40,559 Speaker 1: that for what that is and forget it's an aqua, 39 00:01:40,840 --> 00:01:43,160 Speaker 1: Or will they still penalize it because it's an aqua 40 00:01:43,240 --> 00:01:44,080 Speaker 1: and nick elsewhere? 41 00:01:45,640 --> 00:01:48,680 Speaker 2: Well, you know, insurance companies are insurance companies. They base 42 00:01:48,840 --> 00:01:52,880 Speaker 2: their what they charge you on hard data and hard risk. 43 00:01:53,240 --> 00:01:55,680 Speaker 2: So the fact of the matter is you'll be taking 44 00:01:55,720 --> 00:01:59,600 Speaker 2: that Toyota aqua out onto the streets and probably parking 45 00:01:59,640 --> 00:02:02,360 Speaker 2: it at times. And if that, you know, means it's 46 00:02:02,400 --> 00:02:05,320 Speaker 2: more tempting for a criminal, it could mean that that 47 00:02:05,400 --> 00:02:08,079 Speaker 2: the premium is higher by the very nature of the 48 00:02:08,480 --> 00:02:09,600 Speaker 2: type of car that you've got. 49 00:02:09,919 --> 00:02:12,760 Speaker 1: I worry about whether it's sorry, carry. 50 00:02:12,520 --> 00:02:15,680 Speaker 2: On, I was just so they may seem unfair, but 51 00:02:15,760 --> 00:02:19,400 Speaker 2: that's that's just how works, pure hard risk assessment. 52 00:02:19,919 --> 00:02:21,960 Speaker 1: What I worry about is whether it's an aqua or not, 53 00:02:22,639 --> 00:02:24,760 Speaker 1: is that if you ping people to harshly, they're not 54 00:02:24,760 --> 00:02:26,800 Speaker 1: going to get insured. And you don't want uninsured cars 55 00:02:26,800 --> 00:02:28,400 Speaker 1: on the road because there's already enough of them, and 56 00:02:28,440 --> 00:02:30,720 Speaker 1: we should make at least third party compulsory and we 57 00:02:30,760 --> 00:02:32,880 Speaker 1: never have. And that's a that's that's on us, I guess, 58 00:02:32,960 --> 00:02:33,280 Speaker 1: isn't it. 59 00:02:34,639 --> 00:02:36,600 Speaker 2: Well, that's right, And you know this is one of 60 00:02:36,680 --> 00:02:39,920 Speaker 2: the the kind of hidden costs of crime, you know, 61 00:02:39,960 --> 00:02:44,200 Speaker 2: where where we're not doing enough to stop vehicle theft. Actually, 62 00:02:44,200 --> 00:02:46,120 Speaker 2: as a society, we all pay for it because all 63 00:02:46,120 --> 00:02:48,680 Speaker 2: of our premiums rise, well those of us who choose 64 00:02:48,680 --> 00:02:52,440 Speaker 2: to get insured, and you know that is problematic. So 65 00:02:52,600 --> 00:02:54,680 Speaker 2: you know, ultimately the people we should be pointing the 66 00:02:54,680 --> 00:02:56,880 Speaker 2: finger out here are the people who are sticking the cars. 67 00:02:57,680 --> 00:02:59,920 Speaker 2: The insurance companies are just doing what they always do 68 00:03:00,240 --> 00:03:01,959 Speaker 2: and price based on risk. 69 00:03:02,040 --> 00:03:04,080 Speaker 1: Yeah, good on you, John, appreciate it very much, John Duffer. 70 00:03:04,160 --> 00:03:05,680 Speaker 1: We can't point the fingers at the thieves on the 71 00:03:05,720 --> 00:03:08,919 Speaker 1: show because no criminals listen to this program. That's well known. 72 00:03:08,960 --> 00:03:10,840 Speaker 1: Facts come up in a number of surveys we've done 73 00:03:10,840 --> 00:03:11,560 Speaker 1: throughout the years. 74 00:03:12,240 --> 00:03:15,160 Speaker 2: For more from The Mic Asking Breakfast, listen live to 75 00:03:15,240 --> 00:03:18,320 Speaker 2: News Talks at B from six am weekdays, or follow 76 00:03:18,360 --> 00:03:19,919 Speaker 2: the podcast on iHeartRadio.