Insurance - Am I Missing Something?

[BMWRX]

Time for my insurance to be renewed and it seems that every provider is around the $1300 mark, except for one. AAMI are quoting me roughly $850.

Am I missing something? Why would one company be all by their lonesome quoting so much cheaper than the rest? I've double and triple checked and I'm sure I haven't mis-ticked any boxes on the quote.

[oz125]

Hey, don't forget Shannons.
Did you know they insure your everyday drive, the car you drive everyday?

That ad cracks me everytime.

We did an insurance thread not too long ago?

[BMWRX]

Shannons were the most expensive of the lot, and that included my two car discount.

[qship]

Make sure you are comparing apples with apples.

Do they offer windscreen protection, hire car, choice of repairer (authorised BMW repairer) etc.

[Taymaishu]

Originally Posted by qship

Make sure you are comparing apples with apples.

Do they offer windscreen protection, hire car, choice of repairer (authorised BMW repairer) etc.

Also check the new-for-old requirements (kilometres etc).

On top of that, AAMI are pretty notorious for putting unsafe cars back on the road that they should have written off. They're horrible to deal with.

[micha3l]

I have insurance with AAMI and pay $850.

Recently had to claim, cannot fault the claims process!

They got 2 quotes with BMW authorised repairers (one of my own, the other one they used was also listed on the BMW website), got fixed perfectly, and all parts were replaced with genuine items.

Would highly recommend!

[ExREX]

Shannons were about 30% less than NRMA for both my car and my wife's Passat v6 Wagon

[MikeVictor]

If you're looking for a reason to explain the price difference, have you ensured all the policies you are comparing have similar benefits?

To help you with an example, in the good ol' Insurance Thread started a couple of years ago I gave an example where the cost of a windscreen replacement was quoted to me as being about $1300 if the whole thing needed to be done.

A policy with a premium at a significant discount to others limited the claim on the windscreen to $750 or thereabouts.

The only way to know if your policy is right for you is a pick a few, and do your homework reading the PDS.

I still shop my policies every year, but have given my business to Shannons for the past five years now based on pricing and benefits.

[Taymaishu]

Same with Matty, i've been shopping.

Allianz turned out to be the policy that fits me best - hire car, $550 excess at a very low premium.

[Orlin]

AAMI FTW

[sparoz]

It's no frills, but it's cheap - $780.

[banglemangle]

GIO (suncorp) about a grand

[AussieAlf]

After 10 years with Shannons as an "enthusiast" in various MX-5's, I had to change when they quoted more than twice the price of AAMI and 70% more than CGU who I eventually went with ('cos they're not AAMI). Guy at Shannons intimated that the 123d convertible was a bit expensive for Shannons and they weren't likely to be competitive. Actually had to talk to a supervisor before he could even give me a quote (then only because I'd had 2 cars with them for 10 years).

Cheers,
Alf

[takahashi]

Guys stop vouching your favorite insurer. In fact, it is well known that the suburb, driver and the car is the major variable here. Different insurer calculate differently.

Get all the quote from everywhere. I have one car cheaper with one and the other car with the other. Even same address and same driver. Try different combinations as in major and second driver. Use the online system and they are usually the cheapest.

And try not to renew the policy unless it is cheaper and you can't be bothered.

[takahashi]

Having said that Shannon paid for my misheps at Sandown. That was an "education" day.

[Taymaishu]

Originally Posted by takahashi

Guys stop vouching your favorite insurer. In fact, it is well known that the suburb, driver and the car is the major variable here. Different insurer calculate differently.

Get all the quote from everywhere. I have one car cheaper with one and the other car with the other. Even same address and same driver. Try different combinations as in major and second driver. Use the online system and they are usually the cheapest.

And try not to renew the policy unless it is cheaper and you can't be bothered.

Yup - NRMA discriminated $1000 more when i changed address!

[MikeVictor]

Originally Posted by Taymaishu

Yup - NRMA discriminated $1000 more when i changed address!

discriminated? it's what they do.

[Taymaishu]

Originally Posted by mattyv

discriminated? it's what they do.

Duh.