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      03-14-2014, 05:20 AM   #1
CON G
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Insurance

Just got my GIO insurance renewal, the buggers dropped the agreed price by 16k, increased the excess to $600 and kept the premium the same!

How does less risk equal the same premium? Premium was $2k.

Went onto the compare insurance website and signed up with AI Insurance for half that, with choice of repairer, same excess and for less than 1k.

If GIO hadn't tried to gouge me I wouldn't have gotten pissed off and left.

Stupid buggers.
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      03-14-2014, 05:28 AM   #2
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They lost you, but probably gained another 10 suckers...
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      03-14-2014, 06:01 AM   #3
Dzenko
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I am with AAMI, think I pay over 1k.
AI new?
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      03-14-2014, 06:03 AM   #4
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I got a quote from Shannon's, was $1790 a year driving it only on weekends. With HBF, daily use $990. I do get a discount with HBF though as we have full health cover etc, but its only 10%.
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      03-14-2014, 06:10 AM   #5
Dzenko
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Looks like I am not getting value for my money.
But Con raised a very valid point. I never quiet understood how premium climbs whilst value decreases.
One may argue that car value naturally decreases and the risk of breaking down increases therefore the insurance premium increases to make up for the probability of breaking down a year late being greater...
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      03-14-2014, 10:11 PM   #6
CON G
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Originally Posted by Dzenko View Post
I am with AAMI, think I pay over 1k.
AI new?
Don't know, I was wondering if anybody else was using them. I put my brother onto it for his M3 after I signed up. I guess proof will be in the pudding when I have to make a claim.
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      03-14-2014, 11:35 PM   #7
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Quote:
Originally Posted by CON G View Post
Just got my GIO insurance renewal, the buggers dropped the agreed price by 16k, increased the excess to $600 and kept the premium the same!

How does less risk equal the same premium? Premium was $2k.

Went onto the compare insurance website and signed up with AI Insurance for half that, with choice of repairer, same excess and for less than 1k.

If GIO hadn't tried to gouge me I wouldn't have gotten pissed off and left.

Stupid buggers.
You've just come out of the 3-year replacement period of the policy and they quoting the market value for the car. Look at other insurers like Allianz, who offer the best insurance for European cars given their market background. They are also cheaper than most others on the market. Also you can take to your preferred BMW repairers, who like working with Allianz. Do not touch AAMI ... a lot of bad customer experience.

By-the-way, I don't work for Allianz.
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Last edited by aussiem3; 03-14-2014 at 11:51 PM.
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      03-15-2014, 05:44 PM   #8
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Quote:
Originally Posted by aussiem3 View Post
You've just come out of the 3-year replacement period of the policy and they quoting the market value for the car. Look at other insurers like Allianz, who offer the best insurance for European cars given their market background. They are also cheaper than most others on the market. Also you can take to your preferred BMW repairers, who like working with Allianz. Do not touch AAMI ... a lot of bad customer experience.

By-the-way, I don't work for Allianz.
+1. QBE are pretty good too.
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      03-15-2014, 08:31 PM   #9
rsv4dan
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How old are you guys? I'm 25 and still getting gouged by insurance companies!
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      03-15-2014, 09:40 PM   #10
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Check out Coles Insurance....
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      03-15-2014, 10:33 PM   #11
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Yeah, I get ripped off no matter where I go.

the only quote under $2000 was justcar. I think Coles / Woolworths were 3.1k each...
All because I live in the city...
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      03-15-2014, 10:54 PM   #12
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About $700 a year US for my 08 E92 in Southern California for comparison.
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      03-16-2014, 04:26 AM   #13
CON G
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Quote:
Originally Posted by aussiem3 View Post
You've just come out of the 3-year replacement period of the policy and they quoting the market value for the car. Look at other insurers like Allianz, who offer the best insurance for European cars given their market background. They are also cheaper than most others on the market. Also you can take to your preferred BMW repairers, who like working with Allianz. Do not touch AAMI ... a lot of bad customer experience.

By-the-way, I don't work for Allianz.
Nah i bought the car in 2013 the policy was only one year old.
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      03-16-2014, 07:10 AM   #14
aussiem3
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Quote:
Originally Posted by CON G View Post
Nah i bought the car in 2013 the policy was only one year old.
Take the matter up with them. This is not right.
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      03-16-2014, 08:10 PM   #15
CON G
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Quote:
Originally Posted by aussiem3 View Post
Take the matter up with them. This is not right.
See the OP I've already left them for AI Insurance. Now paying $852 for 100k cover with a $600 excess. I'm 45 years of age.
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      03-19-2014, 03:38 AM   #16
Savitar
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AAMI for me, $1,200 a year with agreed value of $110,000.....
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      04-27-2014, 08:14 AM   #17
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I'm paying 1600 with NRMA, that's with 800 excess
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