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Discussion in 'Businesses and Service Providers' started by halifax, Oct 31, 2005.
who are you guys insured with? any other thoughts comments about insurance companies?
They were cheap, and gave me a discount for being old, being in a club (ie Netrider and/or Ulysses).
Wot he said.....
Western QBE. I'm 28, rating 1 on car insurance, with no claims or fines, and they insure me on a 92 gpx for $207. On, I'm on L's as well.
Now all I need is the bike (got cover note on Thursday).
Just make sure you read the policy and disclosure
some are cheaper than others, for a reason
aami is almost twice racv but aami will replace a new bike 24 months, from first rego , rather than 12 months plus is more forthcoming if your stuck outside melbourne,
QBE says here's $50 live it up.
RTFM, and if you can afford it, get the one that best suits what you do with ya bike
Thanks Jason, I just sent off for a quote. I haven't been overlly thrilled with the service from RACV and the do seem expensive given my age, clear record and choice of bike, so it must be worth asking.
Currently with QBE , have been with others but what they are like i cant comment on because i never have had the need yet .
I haven't needed them yet either. My issue with the RACV is that transfering cars has never been hard and I get a discount for loyalty. With the bik the don't seem to care if I come or go and the changeover was less than easy. If they can accept me as a low risk and try and keep my business with the car, what's the issue with the bike?
The only reason I've stayed this long is that when another one of their policy holders rear ended me a few years ago, the RACV looked after me because my car was also with them. I'm begining to wonder though if my bike policy would attract the same sort of treatment given the fcking about that went on for a simple transfer.
RACV also replace in the first 24mths of registration (if you are the 1st registered owner)
RACV does not specialise in insuring bikes. They make up a very small portfolio of our business. Bike change-over couldve been a little difficult
simply because the consultant wasent/isent so familiar with bikes as they are with cars. There are a coupla hundred people working in RACV Insurance. You may have spoken to one or 2 at most. It would be sillly to base a view on one or 2 phone calls.
2ndly, you cant compare the risk of insuring a car to a bike bc the risk is not the same. You compare cheese to cheese, not chalk to cheese. BTW, the cost of insuring your bike policy would be the same whether you have 0 cars insured or 200 cars covered by RACV.. Makes no difference to you or us.
Stupid also to wonder "if my bike policy would attract the same sort of treatment given the fcking about that went on for a simple transfer".
Thats just ludicrous to wonder something like that What has doing a replacement vehicle on a policy got to do with how you are treated in the even of a claim :roll:
We dont pretend to be the cheapest company around. Never have & we never will be. I dont need to tell you what usually happens to insurance
companies that continually go on the cheap. Cost of insurance is not the be-all. You should be considering other factors which should hold the same weighting as cost. People are foolish always talking just about cost of a policy. They learn the hard way (when there is a claim). You get what you pay for.. Like everything else in life.
What happens when you buy a car?
Do you just look at the cost of the car? hell no.
You want to know other things like milage, age, safety features, colour, manual or auto, quality of car etc etc the list goes on & on.
Say you been looking at 10 commodores to see which one you want to buy & all are within the same price range $25k-30k. You then find another commodore that was the same as the others but this one is only $10k. Are you going to buy it straight away bc its $20k less? Hell no. First question you'd be asking yourself is why is it so dam cheap. Insurance is no different. Its foolish to insure with a company based solely on cost.
You answered this perfectly in your post where you say "the only reason I've stayed this long is that when another one of their policy holders rear ended me a few years ago, the RACV looked after me"
but to say you were looked after because your car was with RACV is incorrect. You are treated the same whether you are a customer or not, whether you are wealthy or poor, whether your staff or not.
I only speak on my behalf, not RACV when I say this, but it dosent bother me in the slightest if a customer wants to take their business elsewhere. For every policy lost, its replaced by 2 new ones. At the end of the day, its the customers policy & they can do with it as they choose with it. Thats the benefit the customer has with deregulation where theres no monopoly. RACV will survive with or without the person choosing to insure elsewhere. A company is bigger than any individual. It dosent bother me personally in the slightest if I'm told their going to take their business elsewhere. I'll tell em "Sir, I can cancel all your policies right now & send you your refund minus cancellation fee this week. Would you like me to organise that now for you Sir?". 9 times out of 10, they say "No. Not just yet" I check their policies at a later date & more often than not, the customer has gone ahead & paid for it.
Many a time I've seen people insure elsewhere to save $$ only to find out the hard way (at claim time) that they were not saving money at all given the experience they had been put thru.
RACV is a blue ribbon insurance company & blue ribbon companies have never been the cheapest & never will be the cheapest. But the thing is you know their always going to be there. You know your paying good money for a known, recognised & proven quality product. We're not Victorias biggest Insurer for no reason. How many Australian Insurance insurance companies can say they have been around for 100yrs? & we'll be around for the next 100 yrs as well :wink:
We're not all in victoria tho, are we?
shop around, check the policy, make your choice.
Not all the "blue ribbon" compny policies, with their "blue ribbon" premiums are value.
RACT (I'm a "premium" member) quoted nearly $900 for me, a 43 yo (at the time), rating 1, perfect record driver to insure a '00 liberty wagon. Same car just voted equal safest on the road by all OZ car clubs.
Quote from my Credit Union, was for just over $300. (really Vacc acting for the Credit Union, now managed by CGU)
I thought this can't be right! got both to send me the policy documents.
I read them carefully, only to find they were identical, the same effective policy, both underwriten by the same insurance underwriters!
RACT could not eplain why the car they thought to be the safest, with a rating one driver in control is neraly three times the premium, so bye bye..
Most expensive/biggest/longest is not always best...
I totally agree... READ THE POLICY!!!
In the case of the Across, I argued... Netrider/club membership, Old fart, It's a toofiddy, I've completed advanced riding courses... so I got fully comp for a measley $78 pa.
oh, they also didn't care about it being a grey import, cos the parts are the same/interchangeable
But then, who's gunna steal it :? , and replacement/parts is easy... they're everywhere.
They'll risk a lot if they stuffed a club member around, cos the bad experience story would spread pretty quickly!
Guvenor thought that about his beat up 1988 KLR250... but guess what? It got stolen.
Never said you all live in Victoria didnt I?
I simply talked about RACV bc previous posts were about RACV
& I work for RACV
Price of a policy alone does not equate to value. Thoought I made
that quite clear.
Factors affecting a premium also incl claims in your area (accident/
storm/mallicious damage & theft claims).. not just whether your car
is voted safest in the world or not. Having the safest car wont stop
your car being storm/malliciously damaged etc, so if RACT has had
more claims in your area compared to VACC, then dosent matter
what car you have, you'll be charged more bc they calculate the
likelihood of you lodging a claim higher compared to a another
company who deems it to be a lower risk policy.
so too answer the Q that the RACT consultant couldnt answer:
She shouldve said "The reason out why we're charging more is
bc we would deem the policy to be a higher risk to us"
Simple as that.
I was speaking to an 80+yo man the other day. He had 3 Ferraries,
each insured for b/w $345,000 & $480,000. He was paying less for
his policies than what I pay for a $17k Commodore.
How many Ferraris are out on the road compared to Commodores?
How many accidents have you seen involving a Ferrari?
Have we paid out more claims for Commodored compared to Ferraris?
How many 80yo's own Ferraries?
Would someone take more care of a Ferrari than they would an old commodore?
These are some of many questions that determine a premium.
Obviously there are more commodores & less Ferraris on the road
Obviously more money is spent on claims for Commodores compared to
Obviously logical that one would tend to take greater care for an expensive
car than a cheap one
Therefore the risk of a claim being made is lower for a Ferrari, so
that 80yo rightly is given a lower premium compared to myself.
Policy booklet does not tell you things like claim processing times etc
% of claims denied & why etc etc.. the list goes on & on..
Most insurance companies HAVE identical Product Disclosure Statements
with only minor details differing.
You can try & hagge prices as well.. Good tip. Keep in mind some
companies are not negotiable in their premiums
At least Seany got looked after before he changed...we cancelled our policy with RACV as did my partners parents because they both recieved disgusting treatment when they had to make a claim.
Kishy it's fantastic you like where you work but our dealings with the RACV have been nothing like the sweetness and light that you seem to experience there.
My partner is on her way home from work in Mt Eliza in her car...she smells smoke and pulls over only to watch the car engine burst into flames..the car was a write off...naturally she was pissed off but not to worry we have insurance that we have paid for for all these years so it's not all bad right?.
We rang and made a claim, car was towed to an authorised repairer who declared it a write off...we then receive an offer from RACV for an amount which was less than the cars market value.. sure enough we qeuried this and were asked to send proof that the car was worth more than they offered...so numerous newspaper and classifed ads were sent...we did not even receive a reply from them until they send a letter asking us to let them sell the car at auction and if we did not they were going to start billing us for storage unless we accepted their offer...
Great way to do business guys i at least expect a kiss after i get fcuked...this dragged on for over 3 months until we cut our losses and accepted the original offer...whenever we attempted to talk to our "claims officer" they were never around and never returned phone calls
While the above situation is happening my partner needs a car to drive the 110k round trip to work so she borrows her mothers car...bad things happen in 2's and 3's and she was involved in a 5 car nose to tail accident as a result her mothers car was declared written off by the RACV approved repairer/accident centre. Again offered a paltry amount well below market value...again complained and went through the same procedure...surpisingly enough didn't get any joy, empathy or anybody who gave a rats arse about helping their PAYING client either
This is a family who have had a 21 year history with RACV and have had many policies with them over that time...so RACV's ineptitude, bloody mindedness and not being willing to listen or even to consider they are wrong cost them 13 policies through this family...not to mention friends etc...for gods sake when we had a different car with them it took about 6 bloody phone calls and eventually a personal visit to get em to correct a wrong number in the rego on our policy
As long as my arse points to the ground i will insure NOTHING with RACV as the warm and fuzzy ad campaign doesn't match the reality of how you are treated...Oh and by the way we went with them because we thought we will pay a fair bit more to get better service, looked after etc..RACV is an insurance company they look after themselves first...
Our current insurer have been helpfull, easy to contact, cost effective and above all treat us like we matter to them...in fact they are everything RACV is not
Out of interest, did you take either case to the Insurance Ombudsman service?
we never knew there was an ombudsman for it...her parents considered it but had enough at that stage...kind of the problem when dealing with any large organisation they have the time and money to waste...for this reason many don't bother to pursue it...oh well learn from the lesson and move on
Let me get this straight RC, were they trying to pay out less than the insurance value of the policy or was the insurance value just less than market value?
I don't know about the RACV, but any insurance I've ever had has been for a value (be it agreed or market) and that is what I would be paid in a write off situation...
Have a look at NRMA, they were the cheapest of the lot when I shopped around.