I was wondering which of your typical insurers do you check each year for quote? Also, if there is a reliable comparison website that you use?
I got quote for $1,500 for comprehensive for 12+ year old Mazda 3. So looking for next insurers in that car category
Same
I thought I read somewhere that the comparison sites like "compare the market" only run it through the companies that their parent company owns.
100% this… I hate these "insurance comparison" sites that have 4 insurance companies and all of them are like a pick between "Tree Insurance, Two guys a a dog, Leveee Insurance and Rainbow Credit". Insurance companies you have never heard of.
Compare the market is a joke. Honey level corrupt.
PS. A 12-year-old Mazda 3 is not worth being comprehensively insured IMO.
At least get 3rd party
If its a shit box, Woolworths otherwise Allianz or Aami, not Buget shit.
Thanks.
Whats wrong with budget direct? Asking because I'm considering to get insurance from them in few months.
Nothing, I've made claims with budget on both my house and car they were excellent.
I've heard the same thing from a number of friends and family first hand, they were better to deal with in comparison to RACV and AAMI.
They are not that cheap and they would reject your claim for tiny little details, There are plenty of stories in this forum.
I didn't commit the details to memory but recall my local smash repairer recounting how Budget Direct has the most meticulous claim rejection operatives.
I recently had a not-at-fault claim with BD, no problems, just the online portal can take days to have status updated
my policy didn't have a hire car extra, but they offered me one anyway, 1 month no charge.
First thing i do is contact my current insurer and see if there's any further discounts. Then I do a new quote with my current insurer and see if the pricing is better.
I just roll through all the big dogs. Allianz, AAMI, RACV/Q/NRMA, Bingle, CGU, Suncorp, Budget Direct, GIO, QBE, and if I can be bothered the various rebrands Coles, Woolies, banks etc
Which company did you find the cheapest? I find racq is always expensive for comprehensive car insurance.
Changes year to year. AAMI at the moment
Might check out AAMI next time.
Budget Direct is nowhere near “budget” pricing. I found it is all marketing hogwash image making to be perceived cheap insurance.
@theHMASfriendship: Hope it stays low $amount but my renewals increase the amount by 30-50%
I have to shop around again every year since the original insurance amount only goes up & up. I would be happy if the amount stayed the same or increase a little. But $1100/yr changing to $1650/yr at renewal time is bit too much.
I switched over to GIO from AAMI cause they were more expensive and wouldn't go cheaper despite being loyal for years (pretty much 12-13 years).
This is the key thing. I don't think I have been with the same insurer year-on-year for ages.
In NSW, for CTP you should also go to the government site: https://www.greenslips.nsw.gov.au/
Green slips are a regulated product so it doesn't matter who insures you, you get the same thing, and the NSW government has a handy comparison tool. Always buy the cheapest, unless there is some bundling benefit - perhaps you have CTP, Comprehensive, Home & Contents with one company.
Strangely, Shannons was cheaper than AAMI for me this year by $95 - but AAMI was the cheapest otherwise.
I recently used compare the market. It gave me $800 for TPP and about $1400 for comp. Then i contacted my insurer, not in the comparison and got $880 for comprehensive.
I dont think there is a reliable comparison site, ut itll give you a starting point to then go and find your own quotes from the company website.
I usually do AAMI, Alianz, RACV and Coles, will also try Woolworths from now on.
AAMI, NRMA, Enthusiast, Shannons
Thanks. Good to know aaimi is pretty much on everyone's list.
I did quote with them and was at $800 range (original quote from Virgin is $1,350).
Yeah they have been good to me for a while. Just check the amount insured amongst all your comparisons. Recently AAMI dropped the value on my car so I changed to Shannons.
Aami has been the cheapest (but i haven't used budget ones) almost every year for the last 20 years for me
It actually depends on your age, gender, suburb, driving history etc. Even some of them asking marriage, house owner or renter etc. Woolies is good but again depends on these variables.
I have a spreadsheet with web links, start with 2 comparison sites, then progress to some of the others based on recent quote trends. There are a few in my list I have not checked for a couple of years eg commbank. Currently split between nrma and suncorp. Probably takes an hour at most
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AAMI
Here's the common brands by underwriter; not claiming as 100% accurate. This typically gets downvoted and I would have preferred to send a PM but OP is registered as being offshore.
Suncorp: Suncorp, AAMI, GIO, Apia, Bingle, Shannons
Hollard: Australian Seniors, CBA, Woolworths
Allianz: Allianz, National Seniors
IAG/IAL: NRMA, CGU, ROLLiN’, RACV
QBE: QBE, Australia Post, Elders
Auto & General: Budget Direct, Coles, Qantas, Virgin Money, ING Bank
RACQ: RACQ, Aldi
Youi: Youi
Hannover: Real
Pacific International Insurance Pty Ltd: pd.com.au
RACQ insurance was acquired by IAG earlier this year
https://www.accc.gov.au/public-registers/mergers-registers/p…
Choice has a good list of insurers to work through - https://www.choice.com.au/money/insurance/car/review-and-com…
https://insuranceninja.com.au/ was good while it lasted. It actually compared a lot of different insurers but got sent a cease and desist to shut it down. Only option now is to manually compare a couple different sites.
This was a great site. Wasn't aware the dev got a C&D - insurance dogs
Someone should re-open this anonymously on the darkweb.
Had a broker through the union for years. I do the odd check, and it's aways within the best price range.
For what its worth, I just bought a 10 year old Mazda3 and was shocked that it cost ~$1k to insure. I ended up going with Youi.
I'll answer the inverse - I will not be bothering giving Youi a go in future. Every time I have gotten them to quote, apples vs apples, they are way more expensive.
I won't bother getting a quote from Youi either.
My reasons:
* I couldn't complete the quote online - I had to wait for a call from an annoying sales person
* More personal information was collected than I normally have to provide
* Their quote was a lot more expensive that my existing policy
- I couldn't complete the quote online - I had to wait for a call from an annoying sales person
That's their whole "shtick" unfortunately. We talk to you blah blah etc.
The funny thing is it's no different than filling out an online form, they're just repeating the script to you over the phone instead. I guess it appeals to boomers or whatever.
i was with them for a couple of years, renewal quote was around $300 more. switched to BD.
I called Youi to end the renewal, and they were ready to give a $230 discount for customer retention.
So it is always good to match and give a call to the retention team.
I was overseas and had to organise a renewal.
Got a quote from Youi (mistake), and they couldn't call as I didn't have roaming.
They ended up emailing around 2 hours later with a link, which went to a stupidly low attention-seeking price (renewal of ~$2k with AusPost, their email had a $1k headline price). Ended up being like $3.5k after adjusting agreed values, excess, adding windscreen cover, etc. Won't waste my time with that again.
Depends on the site algorithms, email address used, how far in advance you look for a quote, address where the car is kept……..some specifically price as they don't want the business. Probably look at sites who have a specific focus eg Apia will probably give a terrible quote for a 21 year old in their M3 whilst a 62 year old in a Toyota Camry will be very happy…🤔
In my experience, the older the car gets. say >5 the insurance sky rockets. Could be the price of parts/panels and availability.
To reduce costs, try and get a rural low risk garaged address and that reduce costs significantly.
A good comprehensive insurance now costs an arm and a leg. Also note that if you don’t have choice of repairer/original parts, you will get third party parts with questionable quality. They really make owning a car a luxury, if you don’t use daily/often, no longer worth the costs.
Check the cash back sites also. Add any cashback offers into your calculations
Why do you need comprehensive insurance for a 12+ years old car? Imo, just get a third party property damage insurance. I paid $170 for a 12month policy from AAMI a few months ago.
Not everyone's 12yo+ car is worth f. all…
Sure, but what’s your point in this context? I was replying specifically to the OP’s mention of a 12+ year old Mazda 3, which generally doesn’t hold much market value. Obviously, the OP is aware of that and is just looking for cheaper alternatives.
If you drive less than 15,000 KM, Woolworths Drive Less Pay Less is top of the list. Plus you get 10% off per month at Big W and Woolworths once a month so it essentially takes a few hundred off the price as well depending on how much you buy there. Even over 15,000KM's per year, it is worth looking at, just for the 10% discount each month.
My daughter wrote off her car in February (not her fault based on dash cam footage) and the claim process was fairly straight forward, albeit a little slow. Her new car is insured with Woolworths again.
sometimes start with a comparison site, but reality is there is too many variables and for them to actually give you good details you have to supply the comparison site with too much info. I use the comparison sites to identify my options then quickly go through them all to find the best quote which I might then use against my current insurer to get a price match.
One thing I would add is despite their constant ads, youi is not even close to being cheaper or comparable to any other major ones… I still don't understand how they could stay in business..
I think it depends on your profile and where you are. Youi were my previous insurer and at the time they were about equal cheapest, I switched to woolies last time around.
Comparison rate sites are shit they only list their sponsored people
I always compare: AAMI (usually cheapest for me), Woolworths, coles, nrma, Allianz, budget direct
Agree with MrThing, just beat me to it!
Also, MUST compare what you get covered. Some include glass, others not.
Best to compare exactly what items are covered, and it very much depends on the postcode of car location!
Rollin car insurance is cheap
But they want you to install an app to track your driving behaviour if your game
I keep posting this. I got it from OZB in the past and saved it in a file. Confirmed is accurate.
IAG own both CGU and NRMA which is the largest insurer of Australians. They also own SWANN, Mutual Community General Insurance, SGIO, SGIC, WFI -Wesfarmers Insurance, Lumley, 70% of Insurance Manufacturers of Australia (RACV) and Coles Insurance.
SUNCORP own SUNCORP, GIO, VERO, AAMI, Shannon’s, APIA, Promina (formerly Royal & Sun Alliance), Just Car, Insure My Ride, Terri Scheer, Bingle, CIL, Asteron & Tyndall and are the 2nd largest insurer of Australians.
QBE (formed by BurnsPhilp as North Qld Ins Co Ltd, QI, Q = Qld B= Bankers & Traders, E= Equitable Probate & General Insurance) own Australian Eagle, Trade Indemnity Australia, Mercantile Mutual, bits of HIH, Elders and Cuna Mutual in Australia. QBE is the largest Australian insurer in Australia however 69% of their business is overseas business.
YOUi is owned by a South African insurer called Outsurance.
Budget Direct is owned by a South African Insurer called Auto & General. Auto & General Insurance also have Dawes which is owned by Calliden which specialises in the prestige end of the market and won't even write the business that Auto & General will write so there is no true comparison of insurers, only comparison of brands.
Real, Woolworths and Al Insurance are all owned by South African Insurer called Hollard.
Ever seen that stupid meerkat on TV claiming to compare the market? That meerkat is South African as he only compares products from Hollard and Auto & General.
Progressive is owned by an American insurer believed to be the largest motor insurer in Chicago.
All of this is called brand separation. When one company has 15 brands like Suncorp do, they get your money whichever way you turn.
Now lets look at the other comparison website “iselect”, they claim to provide choice. However they compare 9 brands underwritten by the same insurer. Now that's great! Whilst a duopoly in the Australian market can never happen, questionable marketing practices that lure people in under false pretences such as i-select and compare.the.market are well and truly out there.
Whilst you all moan about Woolworths and Coles holding such a large market share of the grocery game, have a think about who insures your assets?
Next time you want a fair comparison, on the best product for your circumstances use an independent broker and get real some advice, but then again most brokers get commissions or kickbacks from insurers, so tread carefully. Nothing beats making the phone calls yourself and doing your own research and find the policy and deal that is right for you.
Finding the policy and deal that is right for does not mean simply insuring with whoever gives you the cheapest premium.
On behalf of all of us here - thank you!
SGIC was rebranded as NRMA a couple of years ago
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Thanks a lot. Certainly was not aware of this. Also, makes sense now on these comparison sites on how they get the deals.
I suppose its like OnePass. They are all owned by same company. so, makes sense to combine the shipping.
JUst curious how did you get all this info?
It was posted here on OZB by someone. Can't remember who to give credit.
I confirmed it with someone in the industry for the accuracy.
It was from Clickbait https://www.ozbargain.com.au/user/436117 on 18/12/2024
https://www.ozbargain.com.au/node/884998
This was posted as a comment by Ooops on a recent Car Insurance post. It saved mr and could save you a lot of time getting competitive quotes.
That's giving a credit to me but I'm not the original poster. The post that I copied this from is from 2021 - 2022 or so.
@Ooops: OK…
The original source seems to be on LinkedIn from 2015 - so it's well out of date (but still relevant!):
https://www.linkedin.com/pulse/how-solve-biggest-problems-in…
I've been with AAMI for almost a decade. On my old car they were one of the cheapest but I never had to claim.
Got my new car and naturally within about 6 months I get a minor rear end.
Called AAMI, lodged a report (not claim yet) in order to give the offending party an opportunity to either pay a repairer locally (i went to my local and got a couple quotes) or go through insurance. After her son in law try to swindle me to drive 1+hr to come to his preferred repair shop, which I shot down, we just went with insurance.
Within a week my car was fully repaired. I've also been reimbursed for an uber trip I needed to take from hire car to repair place. Still pending a re do on ceracoat but so far it's actually been an excellent experience. I did have to use their preferred repairer but they did a good job on the paint and dent, though slightly over did the black plastic re spray (i know its hard to repair black plastic) but it's all uniform and clean at least
^caveat to this, it was an open shut case of a rear end. If it was more uncertain or I was at fault, who knows if it would've gone as smoothly.
I had a friend who was at fault and lodged through budget direct, took them weeks to get things sorted, couldn't get through to anyone via phone so was an email response only once a week at best. I was able to call through to AAMI with minimal wait times and I believe I even reached a local call centre too (lodging day after report, was a Aussie bloke. Sorted me out quick smart with repair book in and hire car)
I got a few quotes from the main insurers (RACV, Allianz, AAMI, YOUI) and RACV was $2666, Allianz $1700, and AAMI $1000 all for comprehensive with the same excess.
I gave up on YOUI, after I tried getting a quote, someone called me, their english was so bad that I had no idea what they were talking about.
I mean, I am on the internet, just give me the quote online, why do you have to call me?
Anyways, I went with AAMI
No doubt it varies but for consistency I've found just cycling annually between AAMI, RACV and Budget works with very few exceptions for me in Vic.
I have found Woolworths car insurance to be alright with prices and claims at least from my experience dealing with them.