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QBE advertising loop-hole?

Discussion in 'Businesses and Service Providers' started by Johnny O, Jul 17, 2007.

  1. Hey Guys, I just got some quotes from various insurance companies that were less than half the price of what QBE quoted, so as they advertised being able to match quotes from other companies, I forwarded the quotes on to QBE.

    Well, they said that they can't match the quotes because these other two companies to not include 'third party legal liability' (I think that means paying the court costs) in their cover but QBE do.

    Have QBE concocted an 'different' type of cover that minimizes that chance of other companies offereing the same?
  2. QBE called me back on a quote where I showed them my current premium was $400 a year cheaper than their online quote. They literally called me back 20 minutes after I held off waiting as long as I could (my insurance premium was due that day) and paid my current insurance's premium. QBE had called me to say they would price match it and beat my current price by $20. I see the irony of them calling 20 minutes too late and offering $20 less than my current premium. So they do price match (at least with "Mybike insurance")
  3. You do have to wonder about a business that glides along for years, then when a few new players like ebike, arista and imr turn up - they suddenly go nuts with the discounting. If they can sustain that pricing, why did they not do it before? For years QBE could have offered a more realistic cover for riding gear other than the $750 pittance they had before....then when a couple of businesses come and get serious about bikes, their cash cow is under threat - copy the competitors product and cut the pricing.

    Its acts like that there really is no defence in the insurance industry for comments about insurers out to gouge every dollar from the customer they can. Fat cats like that, Branson will bring Virgin Bike Insurance (yes there is one in the UK) out to shake it up even further.
  4. Just an observation but Qbe were offering the discount before IMR and that entered the market as I was able to get this discount at leat 2-3 years ago. In regards to riding gear qbe have never had any such riding cover until now ?

    Sorry !
  5. I don't think they've deliberately concocted anything, it's a fact that different insurances cover different things and will cost different prices.
    Like buying a motorbike and trying to match the quote where one bike has a set of hard bags and one doesn't...
  6. I did a claim on gear with QBE in december when I had my accident. They goy me a new lid.

  7. I think you're right - they did have a cover. But it was for about $750 or something like that. Enough to buy a stack hat - not a real helmet. :LOL:
  8. QBE is currently, and has always been cheaper than anyone else for my motorcycle insurance cover, by at least 30%.
    It is important to get a hold of PDS's and compare apples and apples before committing to insurance.

    Regards, Andrew.
  9. it was suncorp and swann... third part fire theft.
  10. Given that the other "players" have to rent Telstra's infrastructure to provide most of their services, it really hasn't changed things much.

    Look at 3G, for example. Expensive as all getout, particularly for data charges. A meg of data costs $14 if you use Telstra's data services (Bigpond, etc.).

    And look at its internet services. Way dearer than what most other ISPs have to offer. Imagine what it would cost us if Telstra was still the only player in the game. We'd still be running 2400 baud modems and dialing into BBSes at a dollar a hit (and probably have timed local calls).

    No, Telstra isn't a good example when it comes to market competition.

    In fact, when it comes to essential services, such as telecoms, power, gas, fuel, financial and banking services, etc. the "competition" isn't to see who can deliver the services at the lowest cost, it's who can deliver it at the highest cost before the market finally cries, "enough!". Which to date, hasn't really happened.
  11. Sorry let me clarify Qbe have not had riding cover until last year !

    You may be thinking Swann as they had a helmet cover ?
  12. If monopolies are so bad why is our TAC compulsary Third Party Insurance so much cheaper & better cover than in NSW where competion has brought prices down (NOT).
  13. The question of the day, Paul. Another of Bob Carr's swindles, along with destroying worker's entitlements to fair compensation for injury, in the name of competition and keeping the insurance companies honest. And this from a Labor Premier. Bob Carr did more to destroy the livelihoods and entitlements of NSW workers than Workchoices ever could.
  14. Its understandable that the concept escapes you, but clearly QBE were making considerable profit, had no product development and did not care about the customers in the market. So now they pretend to care through massive discounting.
  15. Its understandable that the concept escapes you, but clearly QBE were making considerable profit, had no product development and did not care about the customers in the market. So now they pretend to care through massive discounting.[/quote]

    How complete you must feel.
  16. Fire and theft is for unregistered bikes only
    Third party fire and theft is for registered bikes (coverage to others)
    Comprehensive Insurance (your vehicle and others are covered)

    were you trying to get fire and theft on a registered bike?

    if the others qouted you fire and theft only on a registered bike the need to do their FRSA, and product training again.

    when they try to issue a policy the system will not accept it.
  17. +1

    QBE just frustrate me, they've dominated the bike insurance market for years, and yet they never really provided any extra benefits or changed their prices until IMR, Shannons, Arista & the like have come along.

    Why couldn't give a discounted price over the last 10years. All of a sudden their are $20 cheaper, cos we get a quote elsewhere.

    So in essence Qbe have been over charging for years???
    I can't stand being ripped off. Bring on the competition, i say.
    QBE can stick it as far i'm concerned, the theiving bastards.
  18. I can tell you all don't ride every day,
    live in older a suburb where there is no room to swing a cat, let alone have a garage to lock your pride and joy up in evert night.

    NONE of the new players would cover me because i ride every day,
    QBE might be a bit difficult to deal with sometimes, but they do cater for ALL bike riders, not just those with toys locked away in their garage