When filling up the registration form for car insurance, I was asked who my current insurer was. I noticed that if I change it to another insurer the premium drops a bit.
Seems a bit unfair doesn't it? I'm unsure whether this counts as breaking the full disclosure clause or not. Can this put my policy at risk?
Sure, but why would a customer of insurer A get a better price than a customer of insurer B? I find that a little unfair. At the end of the day they're selling the exact same product
why would a customer of insurer A get a better price than a customer of insurer B
why? As above. If you're a customer with a DIFFERENT company, then they are giving you a lower price to get you to move to them. Its called 'buying business'.
Then the next year renewal comes around and you pay full price.
I find that a little unfair
nothing unfair about it. Its business.
My guess is the insurer you originally entered is part of the same parent group. But the 2nd was with a different group.
So if you're with "B" they don't care if you switch - you're in effect already with them.
But if you're with "A" they do want you to switch.
Almost all insurance in Oz comes from IAG, Suncorp, QBE and Allianz.
Not really. I got a more expensive quote with "Other" vs another insurer that is considered to be a cheaper option (Bingle). My current insurer is not listed
Whatever you do, don't use RACQ/RACV etc. They will screw you over and allow you to be scammed. They have literally told me that for example if you're parked in a car park and some random walks in, kicks a dent in a car, then blames you for it with no evidence at all or damage to your vehicle at all, then you are liable because the word of a single 'witness' is the same as the word of a god. It's stupidity at its finest and they obviously don't give two shits about their customers.
Ehh…anothher one of these.
All insurance in Australia is basically run and provided by the government. The amount of laws and stipulations that all insurers need to meet makes it impossible for them to differentiate or run on their own tactics. It's all standardised. That's why most PDS documents are worded in mostly the same way. If your claim was rejected by one insurer, it's likely that it would be rejected by all of them.
In your case, if the insurer told you that you're covered for something that you weren't covered for, you can contact the ombudsman or other relevant body who will look into it. Since all phone calls usually need to be recorded it won't be hard to prove it.
Not at all, they offering you a lower price to get you to move