Insurance Rort..Not happy NRMA

[rancidpunx]

With Aami i pay $711 fully comp with a $500 excess for my turbo ute. Value $41000 also cover my rims and stereo.

[PANELCORP]

Try the new IAG brand

www.thebuzzinsurance.com.au

Same NRMA parent company and more flexible options and cheaper

Always ask for a policy where you can choose the repairer (if ever needed)

Too many people miss the small print (other 4 letter insurance companies)

[Yaw]

I can tell you from when I did 2 years in the sales and service department of an insurer that the pricing does appear to be cyclic. There were months when we would be out quoted on just about everything and other months where no other insurer could touch our prices. It is all statistically driven, nothing more, nothing less. It goes on claims history of a type of car whith ages groups, etc, etc etc. For instance I can recall no one could ever touch the pricing on Magna's but we were the most expensive for Toyota Echo's.

The Magna's would come in around 450 per year, the Echo at he same time (2004 and yes i am talikng 2004 models at the time) would be about 750.00 per year.

An insurer will pick and choose thier market. They can't refuse buisness if it fits within thier guidelines (which are made know to the ombudsman) but there is nothing to stop them pricing themselves out of a market they don't really want. An offer of renewal is like renewing a lease. It is simply there if you wish to renew which then starts a new contract of insurance for the next period. If you don't want to renew, that is entirely up to you.

Another annology is you may go to woolworths because Nescafe is on special for $3.00 cheaper than coles. Same difference.

[uranium_death]

Originally Posted by Yellow_Festiva

I have 2 cars with AAMI, both online premiums.

I think it does say that the online quotes are cheaper than the phone quotes. Eg, if a car came back as $300 online, it would be $330 if you called for the same car.

Perhaps the renewal your friend got was the higher 'over the phone' quote?

No...he only ever goes online...

He registered for comprehensive insurance online initially...a year later when it came to renewing it, he found it cheaper to cancel his existing policy and start a new one...

My point is that his continued patronage is hardly being recognised.

[4VCLEVO]

I have an au s3 wagon, it was insured for market value full comp for about $550. I have now changed to third party fire and theft to the value of $5000 for $150 a year.
The series 3 wagon I bought for $4500 1.5 years ago with 190,00km. I think the market value was about $8,000.
RACV.

[Yellow_Festiva]

Originally Posted by uranium_death

No...he only ever goes online...

He registered for comprehensive insurance online initially...a year later when it came to renewing it, he found it cheaper to cancel his existing policy and start a new one...

My point is that his continued patronage is hardly being recognised.

Well that certainly is confusing then. I do the same anyway and confirm that I get the same quote as a new premium compared to the renewal. (while doing the usual price comparisons with same and other companies).

Think they have all came back the same in the past.

Cheers.

[HLC]

they expect us to just "unthink" when going with them for insurance, so just "unworry" about it.

[Yaw]

Originally Posted by PANELCORP

Try the new IAG brand

www.thebuzzinsurance.com.au

Same NRMA parent company and more flexible options and cheaper

Always ask for a policy where you can choose the repairer (if ever needed)

Too many people miss the small print (other 4 letter insurance companies)

I have said this many many times. I would prefer a lifetime gaurantee on repairs rather than being able to choose the repairer.

Most companies I have seen with choice of repairer have clauses like this in thier PDS:
If we do not authorise repairs or don't agree with your repairers quote our Lifetime guarantee will not apply
We will pay the amount we assess to be reasonable by considering:
• your repairer’s quote with any adjustment or reduction recommended by an experienced
motor vehicle assessor we appoint or
• a quote from a repairer we choose.

So as you can plainly see Choice of repairer is not the be all and end all.

[LTDHO]

Originally Posted by Joe5619

NRAM suck.. I had a 1999 Magna worth 2-3K, been with NARM for 12 years & never made an at fault claim..

NRMA is a tough word to spell huh?

Premiums go up and down across the industry, do not take it personal and go getting upset. Simply ring aroung and find a more suitable insurer. There will be no fair well party and tears when you leave. Just change, it's OK.

I always say, there is more to insurance than premium, look at excess, service, options, etc.

I pay $1100 for a 2002 Laser.

Oh and anyone who drives without insurance, would have to be a millionair or really stupid.

[GavL]

Originally Posted by LTDHO

Oh and anyone who drives without insurance, would have to be a millionair or really stupid.

Agreed. It really makes the process of getting things sorted out for both parties (especially the party not a fault) a pain.

Some just don't realise that insurance is there for not only yourself, but for others who drive on the road as well in case you hit them.

[mickyyyy]

My NRMA renual came through and it was about $380 ish more and looked around and went with GIO and save a crap load.

Loyal customer for NRMA a few yrs now so ive ditched them and leason learnt to always shop around as u can potentially save a heap of money.

[Rodp]

Originally Posted by PANELCORP

Try the new IAG brand

www.thebuzzinsurance.com.au

Same NRMA parent company and more flexible options and cheaper

Always ask for a policy where you can choose the repairer (if ever needed)

Too many people miss the small print (other 4 letter insurance companies)

At least using the online quote function, they come out quite favorably. $2500 for an F6 which is by far the cheapest I've found so far. NRMA want $4800 (so those complaining about $850pa for insurance - I envy you).

Has anyone made a claim through them? The only thing that keeps me at NRMA at the moment is the fact that any claims I've made (though I haven't made one in 10+ years) have been exceptionally painless - and I don't want to have to fight against an insurance company after something has happened to a $50000+ car.

[4117kev]

I got my renewel from AAMI and it's agreed value of $53000 for $950 a year $500 excess, but i am over 40as well

[tranquilized]

Originally Posted by LTDHO

I pay $1100 for a 2002 Laser.

Oh and anyone who drives without insurance, would have to be a millionair or really stupid.

I dont agree. Actually, I'd say paying $1100 to insure a 2002 Laser is really stupid...

Sorry everyone, but I'm not buying into this "must have" insurance thing. I havn't had insurance of any kind for over 10 years. That makes me about $15,000 up - my car is only worth about $8000 so if thats stolen or whatever I'm still ahead.
As for me hitting someone and damaging their car... I only do around 100km a week so that reduces my risk. But mainly, I'm confident enough in my driving ability to take the chance that I'm not going to write off someones car. I mean, think about the severity of an accident that writes off any car worth over, say $50k. It would have to be one huge accident that I cause. In nearly 20 years of driving I havn't even come close to such an incident.
But yes, as I'm sure everyone will point out, accidents do happen. One day I might lose concentration and rear end someone, maybe a parking incident. Yep, that'll really suck for me, but I'll take it on the chin and pay up - I'll most likely still be ahead!

Think about how many people are driving around out there who havn't told their insurance company everything about their cars modifications, or their driving history. Despite paying a premium, those people arn't insured either, cause we all know they wont get paid out.

So there, I've opened the can of worms, I'm sure I'll cop plenty for it...

[Yellow_Festiva]

Originally Posted by tranquilized

Sorry everyone, but I'm not buying into this "must have" insurance thing. I havn't had insurance of any kind for over 10 years. That makes me about $15,000 up - my car is only worth about $8000 so if thats stolen or whatever I'm still ahead.
As for me hitting someone and damaging their car... I only do around 100km a week so that reduces my risk. But mainly, I'm confident enough in my driving ability to take the chance that I'm not going to write off someones car. I mean, think about the severity of an accident that writes off any car worth over, say $50k. It would have to be one huge accident that I cause. In nearly 20 years of driving I havn't even come close to such an incident.
But yes, as I'm sure everyone will point out, accidents do happen. One day I might lose concentration and rear end someone, maybe a parking incident. Yep, that'll really suck for me, but I'll take it on the chin and pay up - I'll most likely still be ahead!

Think about how many people are driving around out there who havn't told their insurance company everything about their cars modifications, or their driving history. Despite paying a premium, those people arn't insured either, cause we all know they wont get paid out.

So there, I've opened the can of worms, I'm sure I'll cop plenty for it...

Your 'logic' is foolish and flawed on so many levels. Not having even basic third party property is a false economy.

Insurance is not only there to cover physical damage, how about legals? What if there is a dispute? What if some drunk sod drives in to you and totally destroys you and the uninsured car you're in?

Only 100km per week?? You heard of Murphy's Law haven't you? :

[tranquilized]

Destroys me? Car is registered. Third party doesn't cover medical bills, the compulsory TAC third party does, which I have.
Destroys my car? As I said, its only worth $8k, I'd just buy another one.

[EgoFG]

I believe that there is some stats that say that if you own over about 10 cars you are better to self insure (ie only take out the mandatory cover)
If 'tranny' (if I may abbreviate - tranquilized not only needs an s, but has far too many syllables) finds his risk.return ratio at one car - I dont think that ridiculous - I did the same with my business liability insurance for some years.

[mik]

i must confess i think the same way as you tranquilized, i was taught to drive defenceivly, not haveing an accident for more than 2o years!, a good driver can certainly lessen their chances of being in the wrong place at the wrong time. even though i have bomb insurance now ($120 a year, i have a deal) ,though for 20 years i ran without insurance with out incedent.

[dave289]

LTDHO ,dont talk about stupid while paying $1100 for your laser,have you ever thought of shopping around or would that be too stupid.

somebody mentioned payasyougo insurance.tried to do an online quote and they would not insure the two cars I tried to insure even though I turn 40 this year( ).

and while where on the subject of no insurance, I have done work for budget car hire of which you will be interested to know that they dont insure any of there many thousands of brand new cars.

[Yellow_Festiva]

Originally Posted by dave289

and while where on the subject of no insurance, I have done work for budget car hire of which you will be interested to know that they dont insure any of there many thousands of brand new cars.

Would that be because it is included in the rental cost? So when a car is sitting in the yard, it is 'uninsured' and as soon as a customer pays the fee and drives out, it will be insured for the time it is on the road on a per day / per week basis?

[tranquilized]

I dare so no fleets would be insured. As a fleet operator, if your paying for an accident every month or so, its cheaper than paying the premiums on thousands of cars every year.

Thats not to say everyone should forget about insuring their one or two cars. As EgoFG said, its all about risk and return. Same goes for me - If I had a more valuable car, I'd insure it.

[LTDHO]

Originally Posted by tranquilized

I dont agree. Actually, I'd say paying $1100 to insure a 2002 Laser is really stupid...

Sorry everyone, but I'm not buying into this "must have" insurance thing. I havn't had insurance of any kind for over 10 years. That makes me about $15,000 up - my car is only worth about $8000 so if thats stolen or whatever I'm still ahead.
As for me hitting someone and damaging their car... I only do around 100km a week so that reduces my risk. But mainly, I'm confident enough in my driving ability to take the chance that I'm not going to write off someones car. I mean, think about the severity of an accident that writes off any car worth over, say $50k. It would have to be one huge accident that I cause. In nearly 20 years of driving I havn't even come close to such an incident.
But yes, as I'm sure everyone will point out, accidents do happen. One day I might lose concentration and rear end someone, maybe a parking incident. Yep, that'll really suck for me, but I'll take it on the chin and pay up - I'll most likely still be ahead!

Think about how many people are driving around out there who havn't told their insurance company everything about their cars modifications, or their driving history. Despite paying a premium, those people arn't insured either, cause we all know they wont get paid out.

So there, I've opened the can of worms, I'm sure I'll cop plenty for it...

Yeah you have saved $15K, well done.
Should you have an accident where you hit a taxi or courier, expect to pay that in a heart beat. You are responsible for the loss of income whilst their vehicle is off the road. What ever you do, don't tap a tram, they are 15K a day!!

Originally Posted by dave289

LTDHO ,dont talk about stupid while paying $1100 for your laser,have you ever thought of shopping around or would that be too stupid.

Dave do you any details about my Laser or my driving history, or for that matter, do you know if I shopped around?
I'm guessing the answer is 'No' to all three questions, right?
Lets not talk about 'stupid' now then, huh?

and while where on the subject of no insurance, I have done work for budget car hire of which you will be interested to know that they dont insure any of there many thousands of brand new cars

I worked for thrifty and they are insured. How exactly have you 'done work' for Budget car hire?

[LTDHO]

Originally Posted by tranquilized

I dare so no fleets would be insured. As a fleet operator, if your paying for an accident every month or so, its cheaper than paying the premiums on thousands of cars every year.

Sorry for not replying earlier, I just got up off the floor.

"no fleets would be insured"

As a fleet insurer, I can confirm that almost all fleets are insured as the risk to the buisiness is far to great not to. Even Linfox is insured and he has plenty of money.

[antisocial]

One thing to consider for the unisured is that if you cause an acciudent you are responsible for all the subsequent damage,

Many years ago an uninsured mate sideswiped an old dato when mergeing in the rain. As well as $3k for the dato he had to pay $25k for a commodore the dato then hit. And $45k for the brand new mitsubishi the commodore collided head on with after it was knocked accross the median strip.

It can all get very expensive ....very quickly.

[tranquilized]

Right so this car rental company that Dave289 mentioned are out there on their own with their insurance policy? All fleets are comprehensively insured for property damage?

And your a fleet insurer? Biased much?

Also thanks for your concern, but I wont be hitting anyone anytime soon, especially a tram! They're kinda big, and easy to spot... It would seem (going by your insurance permium for the Laser) we have vastly different driving styles/abilities.

[Joe5619]

Originally Posted by tranquilized

I dare so no fleets would be insured. As a fleet operator, if your paying for an accident every month or so, its cheaper than paying the premiums on thousands of cars every year.
.

Don’t want to be rude, but that is COMPLETELY WRONG!!! I'm no fleet manager, but work in the finance departement approving these kind of insuance bills every year!! Any good business insures against anything & everything..

You can at the very least get 3rd parity insurance.. God hope you never run into a merc or BMW or something expensive. Kiss good bye your whole life’s worth an assets!!! I just don’t understand people with nil insurance, it is beyond believe to me
..

[tranquilized]

Ok well I guess thats why I qualified my statement with "dare I say" - I dont actually know anything about running a fleet. Actually, I dont care about fleets either... Apologies for venturing speculation on a topic thats kinda irrelevant anyway.

But no, I havn't been able to obtain third party as it happens. My car is used for business, and has lowered suspension. Its a combination that proved impossible to insure when I looked into it a while back - none of the companies I tried would cover it.

[LTDHO]

Originally Posted by tranquilized

Ok well I guess thats why I qualified my statement with "dare I say" - I dont actually know anything about running a fleet. Actually, I dont care about fleets either... Apologies for venturing speculation on a topic thats kinda irrelevant anyway.

But no, I havn't been able to obtain third party as it happens. My car is used for business, and has lowered suspension. Its a combination that proved impossible to insure when I looked into it a while back - none of the companies I tried would cover it.

If you don't know, then don't mention it.

tranquilized do you actually have a licence and/or a car?

You don't come across like someone with either. Whilst you refer to 'My car' in a previous post, is it yours or your mums?

[tranquilized]

Ok, so I dont seem like someone with a car and license to you? Its beyond me where you get that idea, care to elaborate?

For the record, I do own a car, and have had a license since 1995.

[LTDHO]

Now you are insulting me? After 51 posts!

I read you posts and doubt you any driving experience what-so-ever