Sickening Price Gouging, page-6

First 6 Last

Share
Profile

Follow
pintohoo

96,585 Posts.

75

10/02/24

22:22

Post #: 72342850
Share

Originally posted by Lapdog ↑

My wife and I have been RACV members for more than thirty years - loyal members of the RACV Club by any criteria. We've used the RACV exclusively during that time for insurance cover on our cars, our caravan, our home and our contents.

We've NEVER made a major claim on any insurance policy. The only claim on my car's insurance was a decade ago for minor damage caused by another vehicle - a broken side mirror and minor damage to the right front mudguard.

In recent years the RACV has increased the cost of insurance on my 2014 model car from $466 with a $400 Excess in 2016 to $618 with a $700 Excess 12 months ago. That's a 32% increase despite an almost 50% increase in the Excess.

Well the RACV just served me with this year's premium demand. On a vehicle worth $Thousand less, which is hardly ever even drive these days and for which there's never been a major claim and indeed just one minor one, the premium increase for 2024 is 26%!

Guess what happened when I tried to respond to their notification - their communication cannot be replied to!

Small wonder that we've decided to sell the car, report the price gouging to the ACCC and to our federal MP Helen Haines as well as seeking different insurers to cover our home and contents insurance.

Expand

and you can ditch the car of just not insure with full comprehensive - just get third party

no such way to avoid home insurance though - one is either an owner and pays or one is a renter and pays the landlord to pay

people have no idea what is coming with insurance - it's only the beginning
4 Upvote

Reply

Top Stories

ASX Market Close: Tariff fatigue truly evident; RBA eftpos proposal sinks Tyro

Listen: HotCopper Wire Podcast 017 – RBA holds the toppings

WIN

'Incorrect datasets': Old irony sets WIN Metals up for golden opportunity at Emjay

Tuesday's HotCopper trends: Sayona intercepts, Bowen Coking crisis | July 15

AII

Inside the depths of Panasqueira: A legacy carved in rock