I have insured my troopcarrier and phoenix caravan with the above company for the past 2 years. This year's renewal just came in. Vehicle insurance increased by 72% while value reduced by 10% and the same with caravan. I have never had a claim before, been driving for 45 years. I spoke to the company and they simply replied "our policy book was recently reviewed and this is our best price" in other words "like it" or "go elsewhere".
For others using this company, be prepared for a very steep increase in your premium. For others, please be warned about this company particularly, if they offer you a low premium to induce you to sign up and then hit you with rediculously inflated premiums thereafter.
Theres been a lot of web chatter about Club 4x4 increasing their premiums with a large number people looking elsewhere. Sounds like a complete rip off.
'Honeymoon' deals to lure new customers are common, banks do it all the time. Their so-called high interest accounts have bonus interest that lasts for the first 3 or 4 months, then they knock you down to a barely competitive standard variable rate. Like this insurance crowd, they think we're all stupid! With insurance I shop around every year at renewal time.
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Cheers,
Tony
"Opinion is the medium between ignorance and knowledge" - Plato
Trouble is, many people just grab the renewal notice and - without providing themselves appropriate "context" (i.e. be reviewing the previous year's renewal), simply pay it. A fact that the insurance companies rely on.
When you get your renewal (from this or any other company), grab the one from last year. If they've reduced the cover AND increased the premium, contact them and ask them to reduce the premium to reflect their now-reduced risk. If they don't, walk...
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It is better to have and not need, than to need and not have...
Had the same problem with NRMA (IAG) rang them and said best we could do - I even quoted a competitor's better quotation (QBE), couldn't/wouldn't even offer any better price - Went with QBE next week they rang me with a better price, told them too late, let's see what happens next year.
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Possum; AKA:- Ali El-Aziz Mohamed Gundawiathan
Sent from my imperial66 typewriter using carrier pigeon, message sticks and smoke signals.
Had the same issue with APIA this year. Caravan jumped from a bit over $900 to $1290 and the insured amount went down by $7000.
When I challenged them on it they promptly dropped the premium down to just under last year's.
If you just grabbed the bill and paid it without thinking it could cost you a lot
We have all our insurance with CGU & they have dealt with everything swiftly. We have made 2 claims, 1 for caravan, 1 for car. Car insurance never went up. The caravan insurance had a very slight increase. What I do notice is the value for the vehicles heading South each year, albeit minimally.
In my case I am sticking with a company that is no hassle when it comes to a claim whilst also being reasonable in their costs. Have had some crap insurance companies in the past & am glad I switched to CGU. (I have no links or interests to CGU), just a very satisfied customer.
Same as you Peter, was not happy with an 30% increase this year with 4x4 Insurance , was told that it was unsustainable for them to keep lower premium and they had no other choice. The problem for us is that they are the only 4x4 Insurance that will insure all our equipment ( including upgrade) that we have done on the 4x4 . Unless someone here can give us another company we are stuck with them.
