I had been with Coles (underwritten by IAG) and only switched because I was intending to dump flybuys. I didn’t, and may return to that next year. Currently I am with GIO for car and house/contents. As a pensioner I tend to look for the least expensive, but also something which is known… I’d like to be able to afford the NRMA, but they want silly sums for my now 19 year old car that barely moves from the garage…
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Thank you Sue. I finally went with Australian Seniors Insurance.
Thank you for your input.
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Marketing, the Australia tax and the lazy tax may all be in play. As mentioned in a few topics it is often best to buy a new policy every year rather than take up the ‘loyalty’ renewal, even if with the same company.
Last year AAMI were the sharpest quote and included roadside cover as a no cost sweetener for $590.
Just received the renewal for $710 including a $15 ‘discount’. The renewal includes an additional $2K in market value so a bit of change might be expected from that, and an extension of the ‘free’ roadside assistance package.
Proceeded to get an online quote for the exact same policy from AAMI but without the ‘free’ roadside cover. It came in at $520.
Whether AAMI will still be the sharpest for my needs remains a work in progress as I’ll be shopping around. A given is I’ll not be renewing that policy but might buy a new AAMI policy and save $190; I don’t need their roadside assistance package in any case.
This is not intended to highlight AAMI since they all play similar games, just illustrative that it is an annual project to get quotes, or pay the lazy tax.
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My question is how can you get a genuine quote when the application requires you to state your current insurer ?
If you don’t answer truthfully you risk having your policy voided in case of a claim ?
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I have had the same concern since forever. Reasonable suspicions are the current system is loaded to help the underwriters compete against other underwriters and not so much with their own branded policies and themselves.
If regulators have even looked they have gone back to sleep with a ‘nothing to see’ as far as I am aware. Requiring the current underwriter/brand at the quote phase should be banned until one purchases the policy when it becomes reasonable information to keep the customer honest. Keeping the insurance company honest? No worries, we can trust them according to them. 
What do you and Choice think @dangraham and @UtaMihm ?
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I know at the insurer I worked at, that information was purely for analytical purposes. Basically so marketing and product teams can see what market or need changes lead to people changing.
Having said that, insurers are not obliged to declare the factors that influence the price of a policy, so I wouldn’t be surprised if some companies use this data. Cheaper price if the customer is coming from a budget insurer vs a comprehensive insurer
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