Stupidity and the logic of insurance policies seem like hand-in-glove to me nowdays.
+1 the comments re 3rd party Greenslips being 'out of obvious State Govt control' (in NSW anyway)....its many diff $ for the same vehicle in my experience.
Bottom line: let the buyer beware and choose wisely
-- Edited by EllenajoeL on Thursday 31st of January 2013 10:50:32 PM
aussietraveller said
04:59 AM Feb 1, 2013
I dont know if other people are as misguided as I am, I have just recieved my GIO third party insurance (green slip) I also have six other policies with the GIO, Due to a minor at fault accident in the last 12 months my first in 30 years my green slip has gone up by $231.22 and when I rang to discuss it they told me that it was because of the at fault accident . For the life of me I do not understand how or why I am being penalised with a Green slip from the GIO when I am not being penalised by GIO comprehensive insurance
I then checked the renewal for my Wife's car which I am also a nominated driver and the annual increase is only $4.30 so I rang and was told that as this was my first accident for many years our premimum was not being increased, then rang back to compulsary third party to discuss and was told that it is a different area of the company and it is their policy to penalise all drivers who have an accident as they are much more likely to have another one, a previous 30 years accident free does not enter into their formula once you have had an at fault prang no matter how small the damage was.
Well the GIO have just lost a policy so they certainly will not recoup anything on this policy. Their quoted cost for this greenslip was $649.08 and after chacking on the state RTA site I now have greenslip insurance with QBE insurance for $487.00 a difference of $162.08
Has any one else experianced this type of stupidity ?
justcruisin01 said
05:13 AM Feb 1, 2013
Interesting, have never heard of an increase in the green slip( 3rd party) section & thought this was a regulated goverment policy
If it was an increase in the comprehensive policy and in excess then I would beleive it.
Have just paid for one with NRMA, $349
JC
Roving-Dutchy said
05:30 AM Feb 1, 2013
I doubt very much that the cost of greenslips is regulated as there are six companies that supply greenslip insurance and there can be a difference of over 100% between companies, when you get a quote for your greenslip insurance from all these companies, it may have started out regulated but has probably gone by the board now.
jimricho said
03:02 PM Feb 1, 2013
It would have been stupidity to have paid the original amount instead of shopping around.
Stupidity and the logic of insurance policies seem like hand-in-glove to me nowdays.
+1 the comments re 3rd party Greenslips being 'out of obvious State Govt control' (in NSW anyway)....its many diff $ for the same vehicle in my experience.
Bottom line: let the buyer beware and choose wisely
-- Edited by EllenajoeL on Thursday 31st of January 2013 10:50:32 PM
I dont know if other people are as misguided as I am, I have just recieved my GIO third party insurance (green slip) I also have six other policies with the GIO, Due to a minor at fault accident in the last 12 months my first in 30 years my green slip has gone up by $231.22 and when I rang to discuss it they told me that it was because of the at fault accident
. For the life of me I do not understand how or why I am being penalised with a Green slip from the GIO when I am not being penalised by GIO comprehensive insurance
I then checked the renewal for my Wife's car which I am also a nominated driver and the annual increase is only $4.30 so I rang and was told that as this was my first accident for many years our premimum was not being increased, then rang back to compulsary third party to discuss and was told that it is a different area of the company and it is their policy to penalise all drivers who have an accident as they are much more likely to have another one, a previous 30 years accident free does not enter into their formula once you have had an at fault prang no matter how small the damage was.
Well the GIO have just lost a policy so they certainly will not recoup anything on this policy. Their quoted cost for this greenslip was $649.08 and after chacking on the state RTA site I now have greenslip insurance with QBE insurance for $487.00 a difference of $162.08
Has any one else experianced this type of stupidity ?
Interesting, have never heard of an increase in the green slip( 3rd party) section & thought this was a regulated goverment policy
If it was an increase in the comprehensive policy and in excess then I would beleive it.
Have just paid for one with NRMA, $349
JC
NSW TP insurance (aka "Green Slip") premiums can be compared at http://www.easygreenslips.com.au/