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Old 24-09-2024, 10:53 PM   #31
arm79
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Default Re: Car Insurance

Had to go through this rigmarole in the last 2 weeks for all our cars.

Enthusiast is only interested in insuring garage queens i found. Something that only gets driven once a month on a Sunday in the sunshine. And you have to provide a picture of the odometer every year and before an incident to prove you haven't gone outside your km range.

Enthusiast wanted 35% to insure my car and 60% more to insure Dad's under the same circumstances.

Went through quotes with a ton of insurers, big and small, and staying with Shannons was a no brainer. No one came close. The premiums are still a decent leap from last year, and the year before for that matter, but the comparative new policy quote exceeds make Shannons look good. Even insurers who promote themselves as cost friendly.
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Old 25-09-2024, 06:13 AM   #32
Trevor 57
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Default Re: Car Insurance

Our friend is with Budget Direct, she hit a kangaroo a week or more back, her excess is $600, they hit her up for $900 as they 'couldn't sue the kangaroo', they then dropped her Rating 1 to a Rating 3 - Don't touch Budget Direct

I have my 3 'classics' with Enthusiasts for the same reasons as listed. Our 2 daily's are with Woolworths
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Old 25-09-2024, 03:47 PM   #33
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Default Re: Car Insurance

Insurance companies do not reward loyalty
In a highly competitive market, new business is their focus
My mate has been with AAMI for 15 years. He learned a long time ago that it's cheaper to cancel his existing policy and create a new one than continue with the same policy.
No loss of benefit either.

My old man has been driving for 60 years. In all that time, he has only made one at-fault claim - which was 25 years ago when Mum made a wrongful assumption and hit a car at a roundabout. They also had a not-at-fault incident when the VC Wagon was written off on GF night '87 when a drunk driver ran up their tail on Warragul Road. He blew 0.165.
Despite his record, GIO increased his premium massively last year. Yes, I know he's over 80, but he hardly drives, and is in excellent health. He has to negotiate like a bitch every single time.

When it comes to insurance, it's a value judgement on what you get for what you pay.
You have to actively shop around and read the fine(r) print.

Insurance companies are the best example of 'lazy tax', where people blindly pay without shopping around.

Been reading about people's Shannon's nightmares on this forum for a long time.
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Old 29-09-2024, 10:57 PM   #34
arm79
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Default Re: Car Insurance

Quote:
Originally Posted by Trevor 57 View Post
Our friend is with Budget Direct, she hit a kangaroo a week or more back, her excess is $600, they hit her up for $900 as they 'couldn't sue the kangaroo', they then dropped her Rating 1 to a Rating 3 - Don't touch Budget Direct
Everyone loves Budget's PDS and policies because of the cheaper than average premiums they offer.

Until that PDS is used against them...
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Old Yesterday, 08:31 AM   #35
Trevor 57
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Default Re: Car Insurance

Quote:
Originally Posted by arm79 View Post
Everyone loves Budget's PDS and policies because of the cheaper than average premiums they offer.

Until that PDS is used against them...
Hands up anyone who reads AND understands any insurance companies PDS
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Old Yesterday, 10:38 AM   #36
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Default Re: Car Insurance

Quote:
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Hands up anyone who reads AND understands any insurance companies PDS
Well, I try to, many moons ago I got screwed over from the old SIO on a claim, hopefully never again.
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Old Yesterday, 01:42 PM   #37
hawke
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Default Re: Car Insurance

Quote:
Originally Posted by Trevor 57 View Post
Hands up anyone who reads AND understands any insurance companies PDS
I do.

When I had a real job, I used to write these things, and train staff, agents and brokers on what they mean. And how the various legislation affected the effectiveness of the PDS. And also wrote and developed internal and external dispute resolution procedures that are still in force today.

Any questions- fire away.
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Old Yesterday, 07:50 PM   #38
arm79
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Default Re: Car Insurance

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Originally Posted by Trevor 57 View Post
Hands up anyone who reads AND understands any insurance companies PDS


You don't have to fully understand it, but at least get a grasp on the basic responsibilities and conditions the company expects of you in the event of a claim.

Like the lady who had her Porsche Cayenne stolen from her garage in Brisbane.

She was insured with Budget Direct, because they were cheapest of course, and when she lodged the claim and they asked "how do you think the stole it" and she said something about "the spare key left in her bag that was in the locked car".

If the clown had read the PDS, then she would have known there was a line in the PDS that said "any key left in the vehicle under any circumstance instantly voids cover and the claim will be denied" or something under those lines. If she'd know then then she probably would have said it.

The car was recovered, but all repairs are at her own cost now. I suppose, on the bright side, she wont have any claim held against her... Because there is no claim to make.

Or when everyone had their claims denied after a flood because they didn't realise the PDS said you "need to make all reasonable and safe attempts to move the car out of danger". But people just left their cars parked in the path of floodwaters for days just waiting to commit insurance fraud.

I always read and compare the PDS between different companies to know what I'm buying. Which is why cheapest isn't always best.

Last edited by arm79; Yesterday at 08:01 PM.
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Old Yesterday, 11:09 PM   #39
hawke
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Default Re: Car Insurance

One thing that is important to understand is that Motor Insurance in Australia is a "specified policy". That is, it has to provide at a minimum, a level of cover that is prescribed in the Regulations. There are other policies - Home, Contents, Consumer Credit Etc - that are also specified and regulated.

If an insurer wants to provide lesser cover than that specified, then they have to do certain things, before the contract is entered into, to allow those restrictions to be enforceable. In my experience, they don't.

From what has been suggested by ARM79, it is arguable that the insurer did not comply with those requirements, and a quick review of the insurers PDS did not comply with the Insurance Contracts Act.

I would suggest that those insureds seek some remedy via the various dispute resolution facilities that are available to all insureds.
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