NRMA Home & Contents Insurance customers
NRMA the" HELP" company, are penalising all customers who are long term & have qualified for " 25% no claim bonus for life". That bonus has now been withdrawn, they change your policy number & take away the bonus, therefore your premium is increased by 25% before they levy the new annual premium increase for 24/25. This means an increase of over 35% in your new insurance premiums, complain & they will give a small reduction in costs. I was still not aware that the 25% no claim bonus had been cancelled, they do not bring it up, only upon checking the fine print do you find out they have cancelled that bonus, it just disappeared from your policy document. I really don't know how a "bonus for life" can be removed & then explained away by saying they changed the policy number.
No wonder inflation is such a problem in this country when the largest insurer can just gouge a 25% increase at the stroke of a pen.
I had been a customer for 59 years & that's how they reward loyalty. I understand they use an algorithm to identify long term loyal customers who are unlikely to move insurance companies, loyalty means nothing to them, it's a one way street. Another thing I was not aware of is the reach & control IAG, the owner of NRMA has, they own at least 5 other major insurance companies, Coles, CGU, RACV, Swann & others, this gives them huge unhealthy market control.
I have now changed insurers, covering everything NRMA covered & saved over $100 per month with the new insurer. Don't be fooled into staying with a company that ignores your loyalty & gouges the most needy with unaffordable premiums.
