NRMA no longer accepts AMEX cards

[Flyboy]

I have just tried to use my amex to pay for some insurance with the NRMA. They no longer accept Amex cards either by the automatic phone service or by the operator. Thought I should let people know. Now looking for another insurance provider.

 

[clifford]

I have just tried to use my amex to pay for some insurance with the NRMA. They no longer accept Amex cards either by the automatic phone service or by the operator. Thought I should let people know. Now looking for another insurance provider.

Found this out a couple of weeks ago when IAG wrote to me. But AAMI is the same, and who else is there (that you would trust to pay out)?

 

[JohnK]

We found out a couple of weeks ago in the Amex surcharge thread.

I am not moving away from NRMA just because they stopped accepting Amex. I have been with them for too many years and just recently received a 15 year loyalty discount on the comprehensive car insurance for my next renewal. Also recently targeted with promotion to pay my green slip that evening and I would receive a $25 Coles Myer voucher. No different to a $25 discount and greatfully appreciated.

Hope they do accept Amex again sometime in the not too distant future but the decision to stick with them was too easy and I will not be missing the ~1,000 Amex MR points I would have received if paying by Amex....

 

[kamchatsky]

Last year I switched to GIO and they take AMEX cards. Not sure about this year.

 

[Timba-Jet]

Last year I switched to GIO and they take AMEX cards. Not sure about this year.

(note: possible bias info, as I work for GIO/Suncorp )

Yep GIO accepts AMEX, and no plans to cease doing so. Very suprise NRMA has stopped. So give 13 10 10 a call lol .

 

[zzyss]

Anybody know if NRMA will refund pro-rata on days/months if cancelling? Would also be interested to see if GIO sales will match discount levels for NRMA customers thinking of switching...

Here's an opportunity, GIO

 

[sparoy]

Anybody know if NRMA will refund pro-rata on days/months if cancelling? Would also be interested to see if GIO sales will match discount levels for NRMA customers thinking of switching...

Here's an opportunity, GIO

I'm moving already from NRMA to GIO. Even with my 10 years loyalty discount with NRMA, GIO is still cheaper for me.

I'm selling my old car which had NRMA insurance and when I will get the replacement, it will be with GIO. I guess I'll find out what sort of pro rata refund I'll be getting.

For the rest of my other cars and home insurances, I'll just wait until renewal time before switching to GIO.

NRMA has lost me as a loyal customer for over 10 years who had all 4 comprehensive and green slip car insurances and 2 home insurances with them.

Not only I've found another insurer who's willing to take Amex with no surcharge, it helped me save some money too. This is what happened if the status quo got disturbed.

 

[JohnK]

I'm selling my old car which had NRMA insurance and when I will get the replacement, it will be with GIO. I guess I'll find out what sort of pro rata refund I'll be getting.

If NRMA is like other insurance companies then you should receive a full pro-rata refund less any cancellation fees that are imposed.

 

[RB]

If NRMA is like other insurance companies then you should receive a full pro-rata refund less any cancellation fees that are imposed.

And the kick in the guts is in the calculation of the cancellation fee

 

[Dougo]

We cancelled all of our NRMA policies last month and got back our premiums paid on a pro rata basis. NRMA maybe OK when you have a car accident, but even then the recent whistle blower on TV put a bit of a kybosh on that. But try claiming for building or contents damage - and good luck is all I can say.

It took three months for them to tell us that they would not cover damage to the bricks in our house and a HWS caused by a water leak of some sort. Just appalling customer service IMO.

And to make matters worse, the assessor who came out had not seen our sort of damage before nor was he able to pinpoint how the damage occured but he was able to say that we had an "uninsurable event". We insisted they get someone with professional qualifications who had seen the type of damage we had, but no, we were told we'd get the first person available. So they sent out a person who worked in the assessing team with no building qualifications whatsoever. Again we insisted on a professional builder and while we got one who didn't look like he'd touched a hammer for a while (suited up, young guy - no kidding !!) all he was was someone whose company was successful in winning a tender to provide building assessments for NRMA claims. Turns out he too never seen the type of damage we had which of course was deteriorating while we waited for the NRMA to pull their collective fingers out. All up 4 months waiting and stress since the claim was lodged and all we saw was more ducking and weaving from them than we would have had we had ringside seats to a Anthony Mundine fight.

It's fine to pledge loyalty to them - as we did - but it does you no good at all when you lodge a building / contents claim as we found out. And if you think this is a "one-off", google NRMA insurance claims, scroll down a bit past the official NRMA sites and have a look at the info out there.

Ring around the other insurance companies and I'm sure you'll find better policies and a company who will accept monthly payments with an AMEX card at no extra cost or fees - just the annual premium divided equally into 12 months. Check out the CANNEX (sp??) site and go from there.

 

[JohnK]

And the kick in the guts is in the calculation of the cancellation fee

I don't think the cancellation fees in general are that bad.

At Budget Direct we charge a AUD33 cancellation fee which should be on the policy documents you receive at the start of the policy or at each renewal. I don't think I have ever read my NRMA policy documents so can't comment on their cancellation fees....

 

[JohnK]

Ring around the other insurance companies and I'm sure you'll find better policies and a company who will accept monthly payments with an AMEX card at no extra cost or fees - just the annual premium divided equally into 12 months. Check out the CANNEX (sp??) site and go from there.

Just out of interest and for my reference which insurance company allows pay by the month with no fees added? I find it difficult to understand that they would not add on an administration fee as it does take longer to reconcile policies on monthly premiums.

I know both Budget Direct and NRMA charge extra to pay by the month

 

[oz_mark]

I have a Vero policy, through Westpac, that offers pay by month at no additional cost.

 

[serfty]

I have a Vero policy, through Westpac, that offers pay by month at no additional cost.

Hmmm ... I see those and think the one who pay annually in a lump sum for the same policy should get a discount ...

 

[oz_mark]

Hmmm ... I see those and think the one who pay annually in a lump sum for the same policy should get a discount ...

Then I would likely pay annually....

 

[Dougo]

Just out of interest and for my reference which insurance company allows pay by the month with no fees added? I find it difficult to understand that they would not add on an administration fee as it does take longer to reconcile policies on monthly premiums.

I know both Budget Direct and NRMA charge extra to pay by the month

CGU allows you to pay monthly with AMEX and no extra fees. I think that's the same for "seniors" insurance and AAMI. GIO charges about $3 extra per month...that's what I can recall off the top of my head.

 

[JohnK]

CGU allows you to pay monthly with AMEX and no extra fees. I think that's the same for "seniors" insurance and AAMI. GIO charges about $3 extra per month...that's what I can recall off the top of my head.

From memory NRMA offered me pay by the month a long time ago and for my policy it was just not worth it. I think for Budget Direct it is about 10% extra to pay by the month.

I still find it hard to believe that anyone would offer pay by the month at no extra cost although I am not surprised. Insurance is a cut throat business and many players are entering the market (like travel insurance) repackaging existing insurance policies.

 

[oz_mark]

I still find it hard to believe that anyone would offer pay by the month at no extra cost although I am not surprised. Insurance is a cut throat business and many players are entering the market (like travel insurance) repackaging existing insurance policies.

From what I see, there are many retail products, but not a lot of actual issuers/underwriters.

 

[Dougo]

From what I see, there are many retail products, but not a lot of actual issuers/underwriters.

True, but as we found you have to read the PDS to find out if the level of cover is what you need. For example, one of the larger companies specifically mentioned solar panels on the roof, but the maximum amount paid out in the event of damage would not have covered our replacement costs.

It's all well and good to listen to the call centre staff, but reading the PDS made all the difference.

 

[JohnK]

From what I see, there are many retail products, but not a lot of actual issuers/underwriters.

I have lost count of the number of "partners" selling Budget Direct Insurance.

No different to the travel insurance products on offer with a lot of them underwritten by Allianz or Zurich.