Truck insurance rip off

Submitted: Wednesday, Jun 24, 2009 at 13:35
ThreadID: 70113 Views:3405 Replies:6 FollowUps:3
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Got my NRMA comprehensive insurance renewal today for my 2000 Courier ute. The renewal had gone up 22.5% from last year ($589 to $721). So I rang and spoke to them and was advised that there had been a general increase in premiums across the board due to NRMA's payouts, even though I wasn't one of them. Ah ha I think, so I ring NRMA up and go through the quote system with a helpful assitant who ends up giving me a quote starting at $598. Mmm sounds fishy so I explain to her I had just called to discuss my renewal figure and told that's it, oh, but we (NRMA) give you permission to shop around. I then say I am thinking of cancelling all my other household,landlord car policies due to their deception and after being on hold says she can now do it for $609? Why is it more expensive again now? Well because I am a loyal customer with NRMA they give me a discount on my 2nd year policy??

So if I renew without checking anything I'm stung another $130, if I'm a new policy it's cheaper and, ( get this, it is the best) if I renew after threatening to take my policies elsewhere they give me a loyality discount which is still more than a new policy??

Think I will revise all my policies today.
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Reply By: Member - Troll 81 (QLD) - Wednesday, Jun 24, 2009 at 13:57

Wednesday, Jun 24, 2009 at 13:57
Funny you bring this one up now I was just on the net about 2 hours ago searching for the best price for the wifes major player wanted $1040 and I found another one doing the exact same thing for $530 that's $510 difference.

I still can't believe it
AnswerID: 371652

Follow Up By: Ino - Wednesday, Jun 24, 2009 at 14:26

Wednesday, Jun 24, 2009 at 14:26
Doesn't make sense - does it?

When my LC showed up I looked for insurance for it. NRMA quoted me $1200 straight off the bat. No discounts for you!

Everyone else (and I chased about 8 of them) were in the range of $550-$650.

I ended up going with RACQ as they quoted me $525 I think...

I asked NRMA about what's the deal with "un-RACQ and un-Suncorp" ad campain and they said that they will match (but not beat it) if you move from RACQ and Suncorp. To which I said - what about the new customers, and the answer was that it does not apply to new customers. My answer was "well - you can take it and... keep it then, obviously you're not interested in new customers" The guy at the other end of the phone had a "meh! whatever" attitude when I said that, so
really - they don't seem to give a toss about that.

Their loss...

FollowupID: 638912

Reply By: olcoolone - Wednesday, Jun 24, 2009 at 16:11

Wednesday, Jun 24, 2009 at 16:11
Of course insurance is going to go up, have a look at whats happened in the last 12 months with natural disasters, the stock market and borrowing money.

Even that they are all underwritten by large investment companys that insurer them against large losses; the insurance company still have to pay premiums and excesses just like you and me.

Insurance companys are no different to any other business, they have to show a profit and have equity to support their liabilities .

Insurance is no different to anything else you pay for what you get!
AnswerID: 371661

Reply By: Member - colin M (NSW) - Wednesday, Jun 24, 2009 at 16:12

Wednesday, Jun 24, 2009 at 16:12
Had similar experiences now I always shop around when I get a renewal notice RACQ have been the best deal for the last 2 years but I still check.
AnswerID: 371663

Reply By: Member - 1/2A - Wednesday, Jun 24, 2009 at 16:16

Wednesday, Jun 24, 2009 at 16:16
I'm with the RACV, I did a quote online but I could not progress to the next page unless I nominated 3 drivers, so I put myself down twice and was able to complete to quote which was $50 cheaper than the renewal notice, so I ran up and asked why? I was told because I had nominated 3 drivers with about the same experience and thus it was $50 cheaper. So I'll have to nominate a friend and get $50 off the bill.
AnswerID: 371664

Follow Up By: a convict - Wednesday, Jun 24, 2009 at 17:09

Wednesday, Jun 24, 2009 at 17:09
"so I put myself down twice "

Nice trick. I'll try it elsewhere.

Just shows how smart 'they' are too, ...'white space .not. blank', ..but no check for same 'content' in other blank spaces.

FollowupID: 638930

Reply By: Member - DAZA (QLD) - Wednesday, Jun 24, 2009 at 17:09

Wednesday, Jun 24, 2009 at 17:09
We use an Insurance Broker,he does all the checking for us, and we get all our Insurance through Suncorp, very reasonable prices, for example, one of our business requirements is to have a 20million dollar Public Risk re Government Contracts, and that also is very reasonable, but it is odd, if I damage property I have to pay the first $1000 and if I injure or kill somebody I only pay the first $200.

AnswerID: 371672

Follow Up By: warfer69 - Wednesday, Jun 24, 2009 at 20:32

Wednesday, Jun 24, 2009 at 20:32
***if I damage property I have to pay the first $1000 and if I injure or kill somebody I only pay the first $200.***

Great Incentive Daza to get rid of a 5x FERALS destroying our great bushland..


FollowupID: 638984

Reply By: Member - Old Girl (QLD) - Wednesday, Jun 24, 2009 at 20:45

Wednesday, Jun 24, 2009 at 20:45
NRMA are not the only unfair ones. We were insured with Shannon's due to the roll cages in the cruiser and rally car. I lost my licence due to points and was refused insurance. Thought damn it. They then would not insure hubby because we were on the same policy. Only way out was to re register the vehicles in another name. Cage had to come out of cruiser (no more events)and RACQ were happy to help. Rally car not insured now, cant enter events with out roll cage. Never had a claim & I never drove the rally car. Its just not fair. So anybody out there that has Shannon's and has lost licence will be refused insurance for 5 years.
AnswerID: 371701

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