I am about to renew my Third Party Compulsory insurance and thought I would check prices with other insurers, my normal insurer of choice is GIO with whom I have five policies, through the NSW RMS site they quoted $503.53 and next best was QBE at $549 with the NRMA being $742.19 and Allianz $748.00, quite a wide spread.
I currently have Comprehensive insurance with GIO and have a lifetime maximum no claim bonus but when I went onto GIO website to organise the insurance the quote came up at $743.53, the difference appears to be that I had a minor one vehicle meeting with a brick fence only minor damage but worth doing through my insurance policy (GIO).
I went back into the GIO site and removed the 1 accident in the last 2 years from the quote document and the new price is $503.53 so even though I have a maximum no claim bonus for life on the comprehensive policy they are going to slug me an additional fee of $240.00 on my compulsory third party insurance.
GIO have lost this one I have insured with QBE who did not increase policy price when I disclosed my 1 minor accident.
The moral of this story is dont just renew your insurance with your current insurer, check around each year as I do you just need to make sure you are comparing similar levels of cover from each insurer.
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In Vic there is a Transport Accident Commission fee that is set as part of your registration. My Ranger is $262 on top of the registration fee but that's the Centrelink concession rate. The full fee is $382.80. Vic abandoned shopping around about 45 years ago. However, that only covers people, not the other person's property. There are other Third Party extensions, some of which a charged on your history of claims.
What do other states do?
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