" you missed the RACV price increases from 2016 to 2023 [32% in...

" you missed the RACV price increases from 2016 to 2023 [32% in seven years] vs from 2023 to 2024 [26% in one year]."

[How can a single individual be that innumerate? ]


All that has happened in your case is that for 7 years your increase went up by an average of 3.6% pa (which was well below the rate of increase in repair costs) and then in the past year your were subjected to catch-up, about which you are now whinging.

But over the full, eight-year period - including the big, catch up increase in the last year - the average annual increase in your premiums has risen by a compound average annual rate of 6.5%. (Do the math yourself as a check)

Vehicle repair costs have risen by close to an average of 7% pa over that period, with the fastest rates of increase in the past few years (eg. prices of vehicle parts have risen by 12%pa in 2022 and 2023)


"That data documents brazen price gouging by the RACV - even worse when you add in the loss of market value of my car and the increases in the Excess."

Boy, how can a single person be that clueless about how the world works?

Fixing a smash on a 2023 Toyota costs no different to that same job on a 2013 Toyota.
Repairs aren't a function of the value of the car, kneukelkop.


"You've also ignored the facts previously mentioned above:
. That we're decades long RACV members who've NEVER made a major claim on any insurance policy we have with the RACV.
. That my car does relatively few trips these days - ~ 8,000 kms per year vs 40,000 kms per year decades ago"

Sorry, buddy, but that's simply how collectivist economics works, and mutual organisations such as the RACV, are collective economic entities.

When you were doing more driving than you are today (i.e. a higher insurance risk than you are today), there were other older members who at that time were reducing their driving (i.e., their insurance risk was declining); so, effectively their premiums were subsidising you, just like you are now effectively being called on to subsidise your younger, fellow RACV members.

(Self-evidently, you have not done any actuarial studies whatsoever.)

Years ago you were happy to have your premiums subsidised by members who presented declining insurance risk, but now you bitch about paying that forward? That's a bit selfish of you.

In effect, mutualised insurance - which is exactly what the RACV is - is a close analogue to corporate socialism, whereby the members share in the profits/losses and wherein those who are fortunate enough to not have to make claims, subsidise the payments of those who do end up making claims.

Whatsamatta, Comrade?
Socialism suddenly doesn't work for you when you need to go from take mode to give-back mode?

And don't forget, as an RACV member, you own the joint and you chose your managers.
It's your enterprise doing whatever you are whinging about, to you.

So your post is tantamount to hitting yourself with a stick while complaining that it hurts.
(On several levels, this thread is really, really funny.)


"We need government to reclaim the field and purge insurance companies from Australia."

Sure, Comrade.
Let governments use taxpayer money to nationalise that insurance sector.
While they're about it, let's go for government-operated smash repair shops, too.
And banking.
Oh, and grocery retailing.
Airlines, too. Yes, definitely airlines


.