Lets Create a Wiki with Top 10 Car Insurers

Looking for car insurance is challenging. Comparison sites are biased and not give best outcome. I figured lets take power of crowdsourcing and as bare minimum built list of top 10 insurers. Atleast that way people can just do their comparisons on their own.

Top 10 is optimal combination of service and price.

What you need to do:
- Update the poll to highlight your current insurer.
- Add comment: Any you know ones to stay from completely or ones you used in the past.

Obviously i understand it varys on where you live, car, etc. However, goal is to build top 5 - 10 insurers that everyone uses. That way, its a one-off yearly exercise to do comparison. We can then add the list on ozbargains wiki.

Resources:
Compare the market doesn't compare anything
https://www.news.com.au/finance/money/costs/compare-the-mark…

Poll Options

  • 17
    NRMA
  • 12
    RACV (Victoria)
  • 9
    BudgetDirect
  • 6
    AAMI
  • 6
    Woolsworth
  • 3
    Allianz
  • 3
    Bingle
  • 3
    Coles
  • 2
    GIO
  • 1
    Progressive

Comments

  • Why isn't Shannons in your poll?

    • Added. I haven't come across them before. Thanks

      • +1

        Where is Shannons in the poll?

        Also:

        RACV (Victoria)

        What about RACQ, AANT, RACWA, etc?

  • +19

    Pointless. Too many personal variables. Have you got a history of claims, bad driving record, drive a modified vehicle, postcode. What is awesome for me may well be sh!t for you.

    • +4

      Or 6 other policies with that company

    • Which is why it’s so fkn annoying when someone asks what the best / cheapest company is

    • Nor only that, most people don't realize that insurance is very strictly regulated in Australia. There is not much deviation allowed from the set way that the government demands from insurers, so ultimately most insurance providers end up being the same. The only difference is price which is based on countless personal factors.

  • +2

    Your methodology is heavily flawed.

    By getting votes and user input with absolutely no semblance of a control/reference point, this top 10 is going to end up like all the other click bait popularity contest.

    • Well, vote is basically indicating who are people with now. That should have some sort of credibitlity as person has done some research. Happy for you to suggest a simple better approach

      • +1

        Unfortunately, there is a very big leap to suggest decision = information.

        My approach you wouldn't like. Firstly, you'd have to have a point of reference, an index. Perhaps it is disbursements made, ie % of revenue paid out as claims. Then there's the average % of successful claims, % of satisfied claims…

        I'll admit, I am only assuming you're unwilling to do the research, as am I but that's the point. Practically no one will therefore a compendium of uninformed opinions isn't going to collectively coagulate into a useful reference.

        • Sure. i understand. However, challenge is to get the data. I would think it is possible to get this data. Once the data is there, everything is possible :). However, given the constraints we have now, what do you think can be done better?

          • +3

            @yjun355:

            what do you think can be done better?

            Lock this thread.

            • @MS Paint: Or just retitle this thread and subsequently the wiki.

              OzBargain's Top 10 Most Popular Car Insurers

          • @yjun355: It takes someone who is willing and competent enough (or realistically, bored/paid enough) to do the legwork.

            To get a better idea of which insurer is objectively the best will take more effort that the majority of PhD thesis out there and the findings would only be relevant for as long as the insurers maintain the same protocols and pricing.

            Maybe start off with something small to see if you have the appetite for critical review. Lowest cost car to maintain?

            You just have to shortlist a nominal number of cars in each category, work out the average mileage, cost of petrol, cost of service, likely failures, cost of average repairs, depreciation… Honestly, that's still the shallow end of the pool. It's a lot of work and that's why click bait never contain any substance.

  • +1

    Suncorp is fantastic, not cheap but claims are amazingly fast and brilliant! Need to live in QLD to get the best service though.

    RACQ is another QLD car insurance you have missed. Also very popular in QLD.

    • RAC (WA) is super popular too in WA and on the list, and for obvious reasons RACV isn't used, so state-based insurers would skew the results.

  • Why didn't you just all these and their links to their respective websites to the Wiki??

  • If it helps, I research by price only and change insurance every year, if required, currently with Kogan. Easily the best price for our car and location.

    • +1

      That is literally the worst way to buy insurance. Without knowing what you're getting more or less then you've saved nothing.

      • Wtf are you on about, same $$ covered on the car, same third party max, and same excess. That is all price

        • +1

          The claims management element of a policy is a huge factor. While a low premium is important, I'd rather go with a company with a good reputation, even if the premium is higher.

          Many people find this out the hard way. When they make a claim, some companies may make you jump through hoops to get your claim moving. For eg, some will make you pay the excess regardless of who is at fault (and then refund based on a favorable liability determination), while others won't require the payment upfront if you're not at-fault. There's also things such as choice-of-repairer and the process of how your entire claim is managed. There are insurers who you can only contact via email (which likely drags out the whole process) while others allocate a specific person who you can speak to directly. These are just a few - there may also be slight differences in their PDS that don't seem to matter day to day but may come up during claim.

          To put it simply, cheapest is not the always the best. The only way to compare properly is to read and compare the PDS', then compare the premiums to determine what's important for you. Are you willing to pay more for a smoother claims process? If you search these forums, there are quite a number of threads with other users' experiences with certain companies. That should give you an idea of which companies to avoid.

          • @bobbified: Everything you say is valid, but given claim frequency experienced here is zero in ten years, I’m happy to save 100 bucks a year and risk putting up with shit for a month in the off chance I need my insurance policy to perform.

            Of course if I crash regularly and need to chat to my insurer often, good service will be a important factor.

            • @cloudy: It's not a problem as long as you know what to expect come time to make a claim. There are many clueless people who simply choose the cheapest and then get a shock at the lack of service or stricter conditions when they make a claim.

              • @bobbified:

                There are many clueless people who simply choose the cheapest and then get a shock at the lack of service or stricter conditions when they make a claim.

                But the real shock, and just as often it seems, is when the expensive insurer does the same.

                It’s when you pay up and fail to meet expectations that people get pissed about, not when you go cheap and get shit service, that’s expected.

                But alas, some people will always be whingers no matter what

                • @cloudy:

                  But the real shock, and just as often it seems, is when the expensive insurer does the same.

                  I won't argue with that - it happens!

                  But alas, some people will always be whingers no matter what

                  As a CTP personal injury claims assessor many years ago, I had the pleasure of dealing with these people. I went out of my way to make sure the payout figure for these people was always the absolute minimum. On the other hand, the genuine people I had to deal with, I made sure they got the absolute maximum.

  • -3

    Absolutely steer clear of RACV/Q, they have no issue at all allowing you to be scammed via insurance fraud with zero evidence. They literally told me in no uncertain terms that if someone were to walk into a parking lot, kick over a motorcycle or kick in the panel of a car etc, then simply point to any random car there with zero damage or evidence and blame it then their word will be treated as if from a god itself and whoever owns that car will be liable. Based on nothing more than the word of one random person and zero evidence. They will not protect you, they will not fight for you, they will not do due diligence for you, they are completely useless and will allow you to be scammed.

  • +1

    Just go Coles or Woolworths… why pay extra for the same cover… i.e..NRMA

  • I think the only thing that can be achieved with a post like this is to name and shame insurers to avoid, if you've encountered policies eg to not payout or increase premiums unethically (like the link above) etc. Maybe we could narrow down to a few insurers worthy of our consideration.

    I hope all these compare sites get shut down - I cringe at the thought that people use them. A government (or industry) website where we can enter details once and see all quotes would be great. (I'm happy for it to be voluntary. But I won't insure with anyone who doesn't play.) I don't use youi coz they won't give an online quote.

    • Yeah. To be honest, that is ideal or they should have more regulation. All comparison sites are biased. I've thing for sure that a insurance company should not be allowed to make a comparison website.

      However, this is next best thing. It is helpful to know who your friends, family and ozbargainers use for car insurance. That information needs to have some credibility.

  • Mulitlpe choice not possible on poll.

    • +1

      Yeah. I know :(.

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