Welcome to Netrider ... Connecting Riders!

Interested in talking motorbikes with a terrific community of riders?
Signup (it's quick and free) to join the discussions and access the full suite of tools and information that Netrider has to offer.

Never use NRMA Insurance

Discussion in 'Businesses and Service Providers' at netrider.net.au started by Matrix, Jul 24, 2007.

  1. A warning to all about NRMA bike insurance

    About 6 weeks ago I was rammed off my bike on the freeway in which the accident totalled my bike and I am still off work with crushed vertabrae. I had paid $2200 for my insurance on my fireblade which was only 4 months old at the time of the accident. I had paid extra in insurance for an "Agreed Value" on the bike due to the amount of custom work that I had done to it from factory. Now that the bike is wrecked they still will only pay the market value of the bike. This leaves me out of pocket by over $6000. I have been arguing with them for the past 6 weeks and am getting no where.

    I have now taken my home and contents insurance away from them and two cars, once my spine heals and I get another bike there is no way that I will use that insurance company again

    Just thought I would let you all know so noone else gets stung like I have.

  2. The moral of this story...

  3. Keep fighting it, they'll try to screw you as hard as they can but will give up if you keep going.

    Good luck.

    (I'm with NRMA :()
  4. PM Me with some contact details. They cannot change the terms of a policy unilaterally.
    There is also the option of the Insurance Ombudsman.
  5. ........
  6. What I'm saying is if they are doing this legally, then there is a clause or something in the policy that says they can do it, if not then Matrix has them over a barrel and will get his money.
    Matrix should seek professional advice if he thinks they don't have a policy allowing them to do this.
    There is no "getting ripped", it's either in the policy or he will get his money.
  7. nice, mate! :shock:
  8. ..and thank you for your valuable input :roll:

    There only two possible outcomes here-
    1- The policy is worded to allow them this action. Matrix get Market value.

    2- The policy is NOT worded to allow this action. Matrix will get everything he deserves.
  9. A friend of mine's brother owned a WRX he insured with NRMA.
    Their house was broken into, the thieves stole the keys to the car, then used them to steal the car in the driveway.
    NRMA said 'You need to be able to produce the keys to the car, otherwise we can't know you didn't give them to someone to steal it for you so you can commit insurance fraud.'

    He got legal advice and was told:

    Outcome A) He wins the court-case and gets his money. Cool!
    Outcome 8) He loses, may have to pay NRMA's massive court-costs, AND they can turn around and have him charged with insurance fraud = gaol-time.

    And either of these only after they draw out the case to try and bleed him dry.

    His mother had a terminal illness at the time and didn't feel he could put his family through the stress of such a court-battle where he risked criminal charges.
    He felt he had to let himself be screwed, so that's what he did :(

    Triway, the 2nd moral is: Insurance companies are c*&%s.
  10. I hope you listed all the non standard accessories and/or modifications. That's my guess where they'll be coming from.
  11. ........
  12. But MG, if there's the slightest thing in the contract that they THINK you could have violated, they can do the "We believe you violated the contract, and don't have to pay you... but we're prepared to offer you market value instead."

    At one level: insurance companies are all procedure and due-process.
    At some levels: they spin things and go into 'dodge or minimise cost' mode - they lie, or bluff you; knowing full well they can't win in court: but it costs them nothing to try and screw you.
    They can always just pay up if it doesn't work, and people won't pursue after that to try and have them punished.

    Restating for effect: Insurance companies are c*&%s.
    Read your policy, know your rights, get proper legal advice if you require it [Tramp doles it out for free! What a champion! He's always seems happy to help].
  13. Absolutely!

    But if it aint in the policy they can't do it, no matter what they might try.
    I take it you have a copy of Matrix's policy in front of you? :roll:
  14. FYI - NRMA sucks!! all they care about is saving money. just look at they're track history: not wanting to pay up on the W'gong floods, ripping off the Repair industry, using 2nd parts, MTA dispute.. the list goes on.

    With NRMA your a Number, not a member.

    If your having a dispute with NRMA, call the Insurance Onbudsman Service on ph:1300 78 08 08

    Really stick it up them, cos the NRMA screws everyone. It's time they got screwed right back!!
  15. ........
  16. Dammit MG thats the (2nd?) time I fine myself ipretty much 100% agreeing with you! :p

    Seriously, normally they would try and avoid payout totally, or reduce payout. They cannot change a policy "type" like that unilaterally.

  17. well, i guess i should have read between the lines then, respectfully :wink:
  18. Why isn't the party that rammed you off your bike paying for the cost of damages?
  19. And your complete riding history as that's another thing they'll use against you.

    So don't you normally decide on the Agreed Value at renewal time or have I got that wrong and is the amount offered the Agreed Value??

    I know with Cars if you write a car less than 12 months old off they give you a new one so obviously that doesn't apply with bikes??
  20. ........