Renewing with Coles Insurance? They'll Price Match Their Online Quotes!

autonomate on 24/11/2022 - 13:27
Last edited 24/11/2022 - 13:27

I had a renewal invoice for almost $1,500 - an almost 40% increase on my previous rates. I shopped around and realised Coles were still the cheapest.

Ran through the online quote system with my same details, and was quoted more than $300 less than the renewal amount (which is far greater than their 10% "new customer" discount - so there's definitely a Loyalty Tax).

Called them, went through to the Renewals line, asked for a price match on an online quote - gave them the quote number I had online.

10 minutes later it was done, and a new renewal invoice was in my email inbox!

It pays to shop around, but it also pays to ring your current insurer!

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Comments

  • Nugs on 24/11/2022 - 13:28

    yes
    .

  • zah on 24/11/2022 - 13:50

    I do this with Woolworths comprehensive car insurance each year. Cancel and take out new policy to get 15% off the renewal price + $100 worth of rewards points.

    Other insurers are still $300+ over the Woolworths quote. I'm 27, been driving for 10 years, drive a reliable hatchback and never had an at-fault accident, yet I can't get insured for less than $900 with either NRMA or AAMI (or any of those 'real' insurers that are less likely to cause problems when you have to make a claim).

  • bobbified on 24/11/2022 - 14:34

    Called them, went through to the Renewals line, asked for a price match on an online quote - gave them the quote number I had online.

    You don't actually have to call them. If you get a cheaper quote online, you can just ignore the renewal notice (if it's not auto renewal) and just purchase the new policy online.

    • autonomate on 24/11/2022 - 14:40
      -1

      They have rules in place denying applications from the same name for the same property during a period that's already covered (and a few other weird restrictions you can find through trial and error). So you get right to the end, submit the request - and it gets denied.

      • bobbified on 24/11/2022 - 14:44

        …denying applications from the same name for the same property during a period that's already covered

        Why would you put overlapping dates that, even if they don't have rules against it, would just be a waste of cover/money since they'll never pay out more than what the car is worth?

        When I do a new quote, I put the commencement date as the day after my existing policy end date. That way, they run concurrently without overlapping at all. So I've never come across the problem you've mentioned.

        • autonomate on 24/11/2022 - 15:24

          I used the same date as I read on some insurers they don't start cover until 4pm on the day you choose.

          Not sure about the bean counter who thought that clause was justified, but you're right - it seems Coles doesn't have this.

          • bobbified on 24/11/2022 - 16:09

            @autonomate:

            I read on some insurers they don't start cover until 4pm on the day you choose.

            That sounds weird - I've got to admit that I've never noticed a 4pm start time on any of my policy documents. All my certificates just state the actual Start Date (without a time) to 11:59pm on the End Date. I would assume that "no specified time" would mean cover starts from midnight or 12:01am on the Start Date.

            (Having said that, I've never gone with a budget insurer though, so they might be slightly different).

  • uwuwu on 24/11/2022 - 20:22

    I thought most insurers did this. I remember having to do this every year when I was with Budget Insurance

    But definitely pays to double check the online quote

  • vince088 on 24/11/2022 - 20:54

    works with every insurance company. people who stay and renew pay the loyalty fee

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