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 ?

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.