Budget Direct and Youi Insurance !

[Trevor 57]

Originally Posted by Jastel

Yes...I literally said that...

Ummmm, jo you didn't

[Fatbob103]

Originally Posted by Trevor 57

Ummmm, jo you didn't

AAI own both Shannon's and Suncorp..............

[Trevor 57]

I think you better check the links I posted

[Fatbob103]

Originally Posted by Trevor 57

I think you better check the links I posted

Checked it myself.
AAI owns both Suncorp and Shannon's.
Shannons is just the more specialised arm of Suncorp.
Why are you so argumentive with things when your not 100% correct? The truck licencing saga is a classic example......

[Trevor 57]

Originally Posted by Fatbob103

Checked it myself.
AAI owns both Suncorp and Shannon's.
Shannons is just the more specialised arm of Suncorp.
Why are you so argumentive with things when your not 100% correct? The truck licencing saga is a classic example......

Please provide evidence, as I can't find anything on the net to prove you are right. What does AAI stand for?

BTW, Shannons is just one of many brands that Suncorp have in their porfolio, scroll to near the bottom

https://en.wikipedia.org/wiki/Suncorp_Group

Nothin on here about 'AAI' (or anywhere else for that matter)
https://www.suncorpgroup.com.au/about/history

[EBSXR6]

Originally Posted by Trevor 57

Please provide evidence, as I can't find anything on the net to prove you are right. What does AAI stand for?

BTW, Shannons is just one of many brands that Suncorp have in their porfolio, scroll to near the bottom

https://en.wikipedia.org/wiki/Suncorp_Group

Nothin on here about 'AAI' (or anywhere else for that matter)
https://www.suncorpgroup.com.au/about/history

AAI is one of the brands of Suncorp group.

It is listed under the strategic partners link.

[prktkljokr]

Suncorp is a Octopus of insurance, each tentacle has another Octopus of insurance arms and so on, its hard to decipher who owns who.

I can confirm that AAI is Suncorp, they have many other tentacles like Vero, Apia, AAMI etc

[EBSXR6]

The Commonwealth Bank sold their Insurance Business to the Hollard Group.

[FoxtrotGolfXray 5.0]

This may help clear things up a bit. The way I interpret this is, that Suncorp Group owns AAI Limited, which in itself owns Suncorp Insurance.

Perhaps some of the confusion comes from reference to Suncorp by itself, as that may refer to different corporate entities.

https://www.suncorpgroup.com.au/uplo...d%20122016.pdf

[simon varley]

Originally Posted by FTE217

Yer it’s far worse re house Insurance and they are playing hard ball even more today due to the many natural disasters last 5yrs or so.
They have made a fortune and having had to pay out more than they like the recent times are making it more difficult for smaller claims.

yeah, they are all global, and all offer insurances for everything. The massive losses they are making on household policies due to floods and fires are not only being recouped on household renewals, but in everything else too. The risks on motor insurance haven't substantially changed, but the premium increases reflect their poor business models in other areas

[Trevor 57]

Originally Posted by EBSXR6

AAI is one of the brands of Suncorp group.

It is listed under the strategic partners link.

So AAI is owned by Suncorp not the other way around as stated by that poster - just checking

[prktkljokr]

Originally Posted by Trevor 57

So AAI is owned by Suncorp not the other way around as stated by that poster - just checking

AAI is part of Suncorp and is the underwriter of AAMI

[EBSXR6]

Originally Posted by simon varley

yeah, they are all global, and all offer insurances for everything. The massive losses they are making on household policies due to floods and fires are not only being recouped on household renewals, but in everything else too. The risks on motor insurance haven't substantially changed, but the premium increases reflect their poor business models in other areas

A mate lived in Rochester.
They had issues with their insurance company but not as bad some of the other people in the town.
He was telling me that some of the insurance companies after replacing the bottom half of the plaster were not painting the entire room they were painting the new plaster and trying to blend the paint to match the existing paint.

[Sprintey]

Originally Posted by prktkljokr

Suncorp is a Octopus of insurance, each tentacle has another Octopus of insurance arms and so on, its hard to decipher who owns who.

I can confirm that AAI is Suncorp, they have many other tentacles like Vero, Apia, AAMI etc

ANZ is gliding around just out of sight, so it's like a stingray wants to eat the Octopus.

[arm79]

Originally Posted by csv8

I rang Shannons and I dont meet their criteria. Other insurers premiums are over $1,000!

I have a bog stock POS BF Ghia and Dad has a bog stock POS BF XR6 and we are both insured with Shannons. Both are insured as every day drivers.

You just need to make sure you enthusiastically answer their initial questions about how in love with your car you are and how you attend car shows, etc, etc. Bonus points for mentioning you saw a Shannons stand at X car show or the like. Or that you own X performance car you will move over to them when your current policy expires.

Just to throw some more fun into the mix, yes AAI is a subsidiary of Suncorp, but its pretty much only an underwriter for a number of Suncorp (of course) insurance brands... And then for a long time only for car insurance. You'll find other products from the same brand, like home and contents for instance, are underwritten by a separate insurer again.

AAMI and Shannons car insurance were AAI underwritten for a long time, but home and contents were Suncorp directly. Other insurance types had different underwriters again. Although it looks like that may have changed recently.

I always only look at insurance brands as brokers these days. They are just a face with lipstick organising policies for the underwriter holding it up.

As for Budget and Youi... I wouldn't **** on either if they were on fire. The most bothersome annoying policies to even try get a quote from. So strict with requirements that beggar belief.

Budget wanted me to get my car assessed for marks, chips and scratches. Because these would be deducted from the cost of the cost of the repair if there was an incident. They'd cancel my insurance if I didn't see an assessor within 2 weeks of buying the policy.

Youi wanted triple the standard excess for the first 3 months then double for the next 6 as a new customer. Plus were 30% dearer than the one I went with. And it took me an hour to get that price after having to listen to their annoying "sales consultant" spin how wonderful they are. I thought the bloke was going to cry when I said no I'm not interested as you are so far away its not funny.

And all this as a long term rating 1 40yo.

I'd hate to see how hard they are to deal with after a claim.

[EBSXR6]

Originally Posted by Sprintey

ANZ is gliding around just out of sight, so it's like a stingray wants to eat the Octopus.

I read that Suncorp only wants to sell the bank to ANZ to concentrate on Insurance.

[Trevor 57]

Originally Posted by EBSXR6

I read that Suncorp only wants to sell the bank to ANZ to concentrate on Insurance.

Probably more money in insurance than banking, except in the event of natural disasters then they will run and hide

[Trevor 57]

Originally Posted by arm79

I have a bog stock POS BF Ghia and Dad has a bog stock POS BF XR6 and we are both insured with Shannons. Both are insured as every day drivers.

You just need to make sure you enthusiastically answer their initial questions about how in love with your car you are and how you attend car shows, etc, etc. Bonus points for mentioning you saw a Shannons stand at X car show or the like. Or that you own X performance car you will move over to them when your current policy expires.

Just to throw some more fun into the mix, yes AAI is a subsidiary of Suncorp, but its pretty much only an underwriter for a number of Suncorp (of course) insurance brands... And then for a long time only for car insurance. You'll find other products from the same brand, like home and contents for instance, are underwritten by a separate insurer again.

AAMI and Shannons car insurance were AAI underwritten for a long time, but home and contents were Suncorp directly. Other insurance types had different underwriters again. Although it looks like that may have changed recently.

I always only look at insurance brands as brokers these days. They are just a face with lipstick organising policies for the underwriter holding it up.

As for Budget and Youi... I wouldn't **** on either if they were on fire. The most bothersome annoying policies to even try get a quote from. So strict with requirements that beggar belief.

Budget wanted me to get my car assessed for marks, chips and scratches. Because these would be deducted from the cost of the cost of the repair if there was an incident. They'd cancel my insurance if I didn't see an assessor within 2 weeks of buying the policy.

Youi wanted triple the standard excess for the first 3 months then double for the next 6 as a new customer. Plus were 30% dearer than the one I went with. And it took me an hour to get that price after having to listen to their annoying "sales consultant" spin how wonderful they are. I thought the bloke was going to cry when I said no I'm not interested as you are so far away its not funny.

And all this as a long term rating 1 40yo.

I'd hate to see how hard they are to deal with after a claim.

I tend to lean towards those insurers who underwrite themselves, there are exceptions, but that is what I try to do. I'm retired now so cost is important. I do like to steer away from Suncorp brands and IAG brands

Your summation of Youi is spot on. I heard bad things about Budget years ago and have never thought of them

[FTE217]

Surprisingly for me having gone Youi for the first time last year it’s been no prob having had to go through 2 claims already within a year.
Sure a lot of questions opening a new policy but most are similar today.
Budget I’ll never go with again for their market value is too low and you pay a lot more going for agreed.
Choice of repairer adds more cost.
Their first quotes are cheap hence why many go for them but when you add more they are not worth it.
Trevor I’ve been able to add my DD to my other 2 Falcons with Enthusiasts.
Makes my 3 on one policy very competitive.


Sent from my iPhone using Tapatalk

[Big_Daz]

I find Youi the tale of 2 insurances I have my house and contents with them. They where competitively priced and I'd heard good things. When it comes to cars though, they are always hundreds of $$ a year more than everyone else so haven't gone with them.

My Redline is with Shannons on Part Use (2 days a week). 2 days a week is fine as thats about what Id use it anyway. Premium is fair, it covers all my mods and the agreed value in happy with
Wifeys Everest is with Allianz. We've been with them 5 years now. Had 2 claims (not at fault) with them and they where awesome to deal with and everything was done quickly. They aren't the cheapest but because of the level of service we have had, we used them for the Everest. Brand new $90k vehicle, may as well stay with who has done us well.
My daily (our Sorento) is with Allianz as well. Its been with them since we collected the car new in 2020 and have been happy. If renewal for this one is huge in October when it comes I'll be changing though.

[Trevor 57]

Originally Posted by Big_Daz

I find Youi the tale of 2 insurances I have my house and contents with them. They where competitively priced and I'd heard good things. When it comes to cars though, they are always hundreds of $$ a year more than everyone else so haven't gone with them.

that is why I said they pick low hanging fruit - low risk only. There is more risk for them in car insurance than house insurance, but they won't insure your house if it has a flood overlay on it, even if the water gets no where near your house. One of our good friend's daughter lives near the river but in a brand new house, all built about 1 metre above all recorded floods, her insurance premium request last year from AAMI? $28,000, that's right $28,000
We owned a house 1 street back from the river and again 1 metre above all recorded flood levels, insurance went from $1800 to $8500 in on year, not with AAMI. We went with Bendigo Bank Insurance, $2400 per year

Originally Posted by Big_Daz

My Redline is with Shannons on Part Use (2 days a week). 2 days a week is fine as thats about what Id use it anyway. Premium is fair, it covers all my mods and the agreed value in happy with
Wifeys Everest is with Allianz. We've been with them 5 years now. Had 2 claims (not at fault) with them and they where awesome to deal with and everything was done quickly. They aren't the cheapest but because of the level of service we have had, we used them for the Everest. Brand new $90k vehicle, may as well stay with who has done us well.
My daily (our Sorento) is with Allianz as well. Its been with them since we collected the car new in 2020 and have been happy. If renewal for this one is huge in October when it comes I'll be changing though.

I have found Allianz great to deal with, they are one of my first choices, as is QBE and anything underwritten by Hollards (or QBE)

[arm79]

Allianz was a good contender up until a couple of years back when they redesigned their policies.

I was with them for 3 years and Dad for 2.

They had a policy with minimum driver age option and named drivers only option. Tick both of those boxes and it lopped 30-odd% off the premium. Policy also offered agreed value with a pretty high cap.

Then out of the blue they ditched those offerings, massively lowered the agreed value caps and correspondingly upped the premium.

So they got the punt. Which spurred the move to Shannons.