Insurance Renewal

[fleety]

Probably been mentioned a thousand times in the past, but I had to have a rant. I received my renewal in the mail today from NRMA Insurance. I currently pay $763.68 a year for full comprehensive etc with multi policy discounts and rating 1 etc. Nil claims in 10 years, so I was expecting maybe a slight rise at worst. New renewal amount $1,978.25. I rang seeking an explanation for the slight error on my renewal notice and was told unfortunately natural disasters are costing a fortune. Doesnt explain why every quote from other insurers since are around $700-$800. WHAT!!

 

[grasshopper]

They are just politely saying they do not want your business.
RACQ want $689.73 for my 2012 (Nov2011 built) D40 in Ipswich...

 

[4BYFOR]

Yeh it's bullshit.. I have been with all 4 major insurances and by far for me RACQ had the best prices and cover especially with multi policies.. I had a similar thing happen to me with suncorp, I let my insurance lapse when renewal come forgot to pay it in time by 2 days and I had to pull new policies out 3x higher I was quoted, thank you and goodbye started the calling around.... Shop around man you will find a better deal.. Good luck

 

[bods]

I wouldn't have expected that much of a rise but I can't say I'm surprised. There's no "loyalty" anymore. Our last renewal notices even with "loyalty" discounts from aami were still more than a new quote with the same vehicle value... only around $100 or so though, not a grand, lol that's just ridiculous...

 

[gunning1987]

paying $1200 for full comprehensive insurance with suncorp which offer FULL insurance where ever you are one a state road or out the back woop woop.

 

[sparra04]

nrma told me the same thing 2 weeks ago
both my cars are now insured with shannons
they say they cover bad fuel and water ingestion also as its classed as an accident

 

[fleety]

I'm not sure how the other insurers go, but Nrma covered any extra without listing on the policy as long as it was legal. Any similar that you are with? I'm going to have to go through each policy and check for the extras that make it worthwhile ie. coverage off road or the Shannon's one with water and fuel coverage ..

 

[180degrees]

Been pretty happy with suncorp, never given me any reason to question my giving them business, its probably cause you might now live in a high risk area or what they class as a high risk area...

 

[fleety]

Don't know how it's high risk. We didn't get affected at all by floods/storms etc. that and every other quote I get is at least a thousand less. I can't explain it and neither can nrma. Money hungry.

 

[sparra04]

shannons replies to my questions
cover off road use " as long as vehicle is operated legally"
i explained i am travelling to the cape this year and was assured i would be covered as
"it is a recreational vehicle being used for its intended purpose"
fuel damage
"bad fuel is classed as an accident/incident as long as you have a sample too prove fuel was the cause of damage"
water injestion
" as long as car is being operated in a legal manner for its intended purpose you are covered"

 

[04SilverSTR]

yeah I'm with Shannons. got basically the same responses when I asked about off-road use and mods!

 

[Sunny Coaster]

I worked for Youi insurance for 3yr's and that renewal is crazy over priced, rating 1 doesn't mean shit as any 1 even without insurance history can ring an insurer and be givin a rating 1 if they state they have a clean driving history, and nobody no's if they have a good insurer until they have had to submit a claim. I'm 26 and am with justcar, all of my mods are listed and covered and my ute is insured for $37500, my 25yr old partner is listed as the youngest driver and I pay just under $700 a yr....... everybody needs to shop around

 

[user 12270]

Sorry to bring up an old thread though I received a renewal today with a price increase. Who is everyone with in Vic? Budget Direct are cheap though is this for a reason?

 

[steve1961]

Iam an old prick , so i use the old farts insurance , APIA , $ 700.00 pa

 

[mad navara]

im with youi i pay $630 a year for full comp

 

[user 12270]

Do they cover Windscreen and mods Mad?

 

[mad navara]

Not windscreens but mods they do I just did a body a 2in body lift and went up 2 bucks a month

 

[user 12270]

Thanks Mad Navara, i'll investigate

 

[mike1303]

Im with DGA insurance brokers in melbourne. They use allianz
Im 23 and I pay $72 a month with all mods listed and full cover on and off road anywhere in OZ. Windscreen included as well

 

[jjohn]

Insurance company's calculate the RISK that your cover may cost them.
Its not about you, although we seem to take it personally.
Its a business that they need to be profitable in just like any other. They tout loyalty to entice you to stay when in reality the RISK to them changes all the time and so the cost to you.
I look at the cost to me to ring around vs the saving I make. Its like I can actually earn money from doing a little research. And I love making money in a clever way.

It would be great if they if they had an online calculator as they do for the greenslip so we can compare on one page.