Comprehensive Car Insurance Renewal - Stick with NRMA or Switch to Cheaper Option?

modsec802 on 20/01/2016 - 15:26
Last edited 21/01/2016 - 21:58

I recently got my comprehensive car insurance renewal with NRMA and noticed the annual premium increased about $100 since last renewal: it is now $708.52 with a multi-policy and loyalty discount (another car and home insurance).

So, I had a quick look at two other quotes using same/similar excess/value etc and found:
* Coles: $568 including all online bonuses/flybuys discount
* Bingle: $418.40

I called NRMA and asked them to lower the premium, but they won't move on the $708.52 renewal price.

Question: Should I stick with NRMA or make the switch to one of the others?

Basic Details: 2011 Mazda6 Turbo Diesel Wagon, Main Driver Female 35 years, 5,000-10,000km per year, no at fault claims in past three years, no demerits etc. Agreed value $21,500 - excess $650, Postcode: 4103

Others: Budget Direct $781, Progressive Online: $773, AAMI $747.33, Allianz $722.46, QBE $674.07

Poll Options

  • 3
    Stick with NRMA ($708.52)
  • 14
    Switch to Bingle ($418.40)
  • 5
    Switch to Coles ($568)
  • 4
    Other - leave comment below
Automotive

Comments

  • nocure on 20/01/2016 - 15:35
    +1

    Coles: $568 including all online bonuses/flybuys discount

    Fyi. The more polices you have with Coles doubles/triples points earned throughout the year.
    ie: I have three cars and H&C polices so every flybuys point earned is x4

    • ilikeradiohead on 20/01/2016 - 17:04

      On every spend or just on the insurance? IE is it just 4x568 = 2272pts = $11.36 to spend at coles.

      • nocure on 20/01/2016 - 17:05

        On every spend.

        • ilikeradiohead on 20/01/2016 - 17:07

          Wow I didn't realise they did that haha.

    • modsec802 on 20/01/2016 - 17:24

      Neat. Does that apply to bonus offers like 1000 points when spend $200?

  • Islund on 20/01/2016 - 15:36
    +2

    NRMA had me at $1,275 and Coles has it at $768.

    Read up on the MOZO website about Coles and there were enough good reviews there for me to go with the cheaper option. If you use their price beat guarantee they should better the Bingle quote

    • modsec802 on 21/01/2016 - 21:39

      I think their price beat is only on your current renewal price, not any competitors price

  • oscargamer on 20/01/2016 - 15:39
    +4

    Read the policies. The reason some are cheaper than others is usually what they do and don't cover.
    No quick and easy answer I afraid.

  • nafe on 20/01/2016 - 16:55
    +1

    Have you tried getting a new quote off the NRMA site? I know people who get a new quote when they receive their renewal and often find it to be cheaper than the renewal price!

    • modsec802 on 20/01/2016 - 17:25

      I started this and it started asking about my existing policies so wanted my details, which I assume is to stop people doing this (or not claiming the multiple policy discount?)

      • nafe on 21/01/2016 - 08:01
        +1

        They may have started clamping down on it when they notice their customers were letting policies lapse and creating new ones. If they didn't screw loyal customers it wouldn't be a problem though lol

  • tj101 on 20/01/2016 - 16:55

    We just had a not at fault car accident and are with GIO. They have been good. Also have had not at fault accidents with AAMI and they were alright. I get roadside assist and hire car option and windscrreen on a mazda 3 2010 for a 27 year old male no at faults, in country vic, rating 1 for $471, currently with gio but aami are the same price. NRMA seem steep. We switch but always go with one with a good reputation. I'm with Coles but haven't made any claims.

  • ilikeradiohead on 20/01/2016 - 17:07
    +1

    Weird that they didn't budge on the price, the renewal price has a built in lazy tax for people who can't be bothered to shop around, ie just picking up the phone should have sliced off 20%.

    Def ditch NRMA. Try a few aggregator websites (like iselect, although they only cover 1/3rd of the market), but as oscargamer said, there is no easy solution.

    • modsec802 on 20/01/2016 - 17:26
      +3

      I avoid the aggregators as I have found they often want personal details and apply a hard-sell. Same with Youi, who I completely avoid.

      • ilikeradiohead on 20/01/2016 - 18:47
        +1

        When I've got a quote I just put in fake personal info/email so they reveal the quoted price. If I later want it I go back haha.

  • boonanza on 20/01/2016 - 17:17

    Definitely go with the cheaper quote

  • Mad Max on 20/01/2016 - 19:11

    NRMA has a $100 off for online quotes.
    Would be worth trying if you can go through and start a new policy instead of renewing the existing one with them.

  • l005e on 20/01/2016 - 19:18

    For my 2014 corolla I went with RACQ for $575 py and $750 excess, also got rating 1 for life but who cares

  • lovesabargain77 on 20/01/2016 - 21:27

    Coles Car Insurance is the perfect example of you get what you pay for.

    Seems like a great deal…….until you have to make a claim.

    • modsec802 on 20/01/2016 - 21:35

      Have you made a claim? What was different than a usual claim process?

      • lovesabargain77 on 20/01/2016 - 21:59

        Not myself, however a close friend of mine had her car written off after a car accident.

        There were no special circumstances to the accident, it was just your everyday run of the mill car accident and her car had to be towed.

        The car itself was only valued at around $5,000

        It took around 6 weeks and endless phone calls by her to Coles before she was finally paid the money for her vehicle.

        The true 'Fawlty Towers' moment during the claim process was early on when Coles couldn't tell my friend where her car had been towed to for assessment.

        It wasn't until a couple of days later when the towing company called her did she find out the location of her car.

        Maybe she was just unlucky, but I doubt it.

  • cytotoxic on 21/01/2016 - 17:23

    My car insurance is also due soon, so this thread will be interesting. My research so far reveals that while Bingle is indeed cheap, but there's no contact number for enquiries or anything, so you would have to be comfortable doing everything online.
    Also, when you make a claim you have to pay the excess upfront even if you are not at fault. If you are not at fault, and they can get recover the excess from the other party, only then do they give you a refund of what you paid.

  • conan2000 on 21/01/2016 - 19:22

    Try progressive direct. They've always been the cheapest when I've compared. We had to claim as well and it was easy and completely painless.

    • modsec802 on 21/01/2016 - 21:36

      Thanks, just did and it was $773.36

      • conan2000 on 22/01/2016 - 21:26

        Interesting, it was over $100 cheaper for us than any other quote. Who knows how these guys work out their prices!

  • modsec802 on 21/01/2016 - 21:59

    Did a few more tonight just for fun: Budget Direct $781, Progressive Online: $773, AAMI $747.33, Allianz $722.46, QBE $674.07

    Looks like I will try Bingle for a year and see how that goes.

  • fantafox on 02/02/2016 - 20:47

    Shop around more. I found AAMI the cheapest and happy with it

    • virhlpool on 09/07/2016 - 12:29

      AAMI cheaper than Bingle? It surprises me.

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