I am due to renew my comprehensive car policy on my 2014 VF Holden Calais 6.0L. You recommend GIO, APIA and Hume Bank for NSW in your review. My current insurer is GIO and they have sent me a renewal offer. I usually get competative quotes before I renew and decided to try the Choice recommended APIA and Hume Bank (Allianz). The APIA online quote process stopped as soon as I enterred by rego and confirmed correct make/model, ie 2014 Holden Calais. I enquired why online and received an email with no answer. After I responded twice and twice received pointless emails I rang the Sales number. After 15 minutes of questions they sent me a quote that is 44% higher than the GIO renewal. The Hume Bank quote was quick and easy to obtain online, but was 32% higher than the GIO renewal. I have two comments on the review
the APIA review should be qualified by a comment stating they may refuse insurance to common cars in Australia
if price is 40% of the Expert Rating, it is hard to understand how APIA and Hume Bank are recommended
I don’t generally look after the car insurance. My husband prefers that, I just make sure the bill is paid. But I did request a quote from APIA for pet insurance nearly 8 years ago. The price was ridiculously high. I’d already looked at another Pet insurance group and when APIA rang (because they don’t give you online quotes, they want your email and phone number, almost like Data phishing.) I said I’d found another insurer and I told them why. They were simply too expensive.
Can I say that the Insurer we got, Bow-Wow-Meow, has been pretty good with making payments towards our dog’s vet bills over those years. But yes, the price APIA offered us put me off ever looking at them as a competitive insurer again.
Considering what APIA means, I think they have some insane belief that people over 50 won’t look for competitive pricing. If anything, we’re the most likely to look for competitive rates, whether or not we’re on a pension.
As you know, there is many things that influence a car insurance quote. I renewed my car insurance late last year and found Hume Bank / Alliance to be the cheapest policy for my car whilst insuring my car for the highest amount. You did the right thing shopping around, and sometimes, it does work out that your previous insurer is still the right one for the following year.
Experience here is any vehicle that is older can be difficult to insure at a reasonable cost. Even though it may have much in common with the everyday Commodore. Just how common an upmarket spec Holden Calais with V8 engine is today. Resale values vary greatly depending on mileage and condition. 2 to 3 times the lowest to highest for the same model.
If not already done so, consider we found with older vehicles an agreed value policy provided the better quotes from the major insurers. It takes away some of the uncertainty for the insurer and owner. Although a lower value increases the likelihood of a write off for the insurer. Suggest there will be a point in time where one may be better looking to a specialist insurer if your vehicle has a place in the heart of your home.
The Choice comparison more likely reflects the costs of insuring newer vehicles.
That’s right @mark_m. We don’t have access to insurance renewal costs, only what the insurers are quoting for new business online. In our recent article on car insurance price hikes, we found that overall car insurance went up 8% on average last year, but that rise was driven by loyal customers renewing their insurance, not new business customers.
