FYI - SAVE MONEY ON INSURANCE

[newstart2380]

Received the renewal for my CTP from GIO for my car which increased from $309 to $597 in twelve months. I rang around and got the insurance for the CTP from Allianz for $370 but decided to ring GIO to ask why the increase and what they could do, the girl bought it back immediately to $373 without knowing the quote from Allianz, when I asked why, she said "they just send it out and expect the customer to contact them if they are not happy" but probably hope they done. It would be an idea if they contacted the insured person and ask if you have comprehensive cover on the vehicle so they can give a competitive quote because they may retain the business unlike me because I have a better quote.

How many people just pay this amount without question ? this is what keeps the insurance companies going and making those huge profits.

So if you need insurance take some time and shop around, you may save a bundle.

[newstart2380]

Make sure you double check the discounts they give you. I negotiated a similar discount with Tru/Energy Australia recently, but when I got my last bill the discount was far below what it should have been. It took a call to the ombudsman to sort it out X-(

I also changed to Tru Energy offering 16% on your power usage if accounts are paid on time, I have 6 properties and when my bill did not have the 16% discount I took the amount for power usage, deducted 16% off that amount, added the service fee, added the gst and that is what I paid. I got an email then offering me 17% so I am happy. Be careful the discount is ONLY off power usage but at present Tru Energy (now Energy Australia) are very competitive. AGL are offering 17% off power usage plus $100 rebate when you join if paid on time and by DD which I will not do as to hard to cancel or change.

[cherry*135]

When you receive your CTP slip (NSW) there is always a pamphlet in the envelope with it advt the website you can use to compare CTP prices (maa.nsw).

I always look at that and the only price difference has been around $8 per year, which is not enough for me to bother changing to.

[newstart2380]

When you receive your CTP slip (NSW) there is always a pamphlet in the envelope with it advt the website you can use to compare CTP prices (maa.nsw).

I always look at that and the only price difference has been around $8 per year, which is not enough for me to bother changing to.

I live in NSW and there was a significant difference of $227 in one year.

[cherry*135]

Depends what  part/area/where you live in NSW... insurance premiums vary for cars, house and contents.. in an area where there are more burglaries.. insurance will be dearer (e.g. CBD of a city) than in an area were there are few burglarlies (small town).

[cherry*135]

Mine is always around $370+, only goes up a small amount each year.. this year $383 for 1 yr premium paid last month.

[newstart2380]

Depends what  part/area/where you live in NSW... insurance premiums vary for cars, house and contents.. in an area where there are more burglaries.. insurance will be dearer (e.g. CBD of a city) than in an area were there are few burglarlies (small town).

Agree, I am fortunate to have a husband who is anal ( can I say that ?) when renewing insurance and every year he gets discounts from the previous years by shopping around.

Not to say he is not slack in other areas :^O

[punch*drunk]

Oh? That's the company. What was the discount they actually applied to your bill?

My full bill was $928 (3% had already been applied)

They gave me 10% which they had down as $60.95 and another 3% which i can remember the figure but it was also incorrect.

I rang them and the stupid woman on the phone told me the discount was applied to the balance owing, not the full amount of the bill (I had already paid $500 in advance). Nothing I said would change her mind, even the fact that $60 is not 10% of $28 any more than its 10% of $928. She also wouldnt put me through to a supervisor, hence he call to the ombudsman.

In the end they admitted their error and credited me the full amount they should have plus a bit more. I am considering changing to AGL, their rates were a bit cheaper.

[newstart2380]

What you pay is a discount on the rate set by the government, TE apparently set the rate higher before the government set the rate (so I am told) but now it is Energy Australia it and all suppliers use the set rate and then give their discount off that so they are competitive. It's like a game they play.

[monman12]

NS2380: "How many people just pay this amount without question ? this is what keeps the insurance companies going and making those huge profits."

Where, when, who NS2380?.  I am always ready to buy shares in a "huge profit" making company, but all I can find is:-

"operations in Australia and New Zealand both delivered a below budget result primarily attributable to the net event claims and reinsurance reinstatement costs arising from the catastrophe events in Australia, including the floods in Queensland and Victoria and Cyclone Yasi, and the Christchurch earthquakes in New Zealand."

"Wesfarmers Insurance earnings before interest, tax and amortisation (EBITA) declined to $30 million, compared with $131 million for the previous year, a decrease of 77.1 per cent. Operating revenue of $1.7 billion was an increase of 2.4 per cent."

Earnings before tax of $30 million on a operating revenue of $1.7 billion is  hardly a "huge profit"

[cherry*135]

Electricity - the people that do the billing are employed by someone other than the electricity supplier, the people that read the meters are employed by someone else - no-one knows what the others are doing.. I have waited 3mths so far for them to sort out a final bill on disconnection.. should have been for 9 days (and they are not disputing that) but instead they sent one for 6 weeks... the billing people have no idea why the meter reading people took 6 weeks to read the meter blah blah and on it goes.