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Canstar rates the top car insurers for 2011
April 20, 2011
Up to one quarter of motorists may be fed up with car insurance companies’ nominated smash repairers, citing poor workmanship and communication breakdowns among their main complaints, according to new research.
As part of its annual car insurance star ratings report, financial research firm Canstar Cannex surveyed 3000 motorists in an effort to gauge satisfaction with the insurance claims and repair process.
More than one quarter of respondents said they were less than satisfied with their overall claims experience. Of that number, most motorists were dissatisfied with the nominated repairer rather than the insurance provider.
Despite this, only 15 percent of respondents indicated that they would shop around for a better comprehensive car insurance provider, which may suggest that drivers are satisfied overall - or perhaps just unaware of how easy it is to compare and switch policies.
Switch and save
By comparing car insurance policies online, a motorist can select a policy by its features, which can include roadside assistance, a rental car after an accident or 24 hour help line for those dissatisfied with repairs, for instance. Many car insurance companies give you the option to nominate your chosen repairer too.
But some motorists could also potentially save hundreds of dollars by switching from one car insurance provider to another.
For example, one of the cheapest comprehensive car insurance options available for a Sydney-based driver is with Real Insurance with an average premium of around $777.
By comparison, one of the more expensive options available through the site is Bendigo Bank’s premium, which will set you back around $1764 on average in Sydney. That’s a potential saving of more than $1000.
Canstar's top picks
Canstar Cannex's car insurance star ratings report compares 39 polices from 30 car insurers by shadow shopping more than 15,000 online and phone quotes throughout Australia.
The latest research revealed that Suncorp came out on top for its claims service for the second consecutive year.
"This is quite a coup," Canstar Cannex research manager Chris Groth said. "We took into account the claims features offered by insurers, as well as the feedback received in our claims survey."
Other top performers as rated by Canstar Cannex included AAMI and Budget Direct, which performed well in terms of value for money.
"Our usual practice is to recognise the top three Australian insurers. This year, however, AAMI and Budget Direct pulled away from the pack, thanks largely to product features and cost, and left the third placegetter too far behind," Groth said.
Clearly, it pays to compare comprehensive car insurance companies and understand the conditions attached to your cover, particularly in the case of nominated repairers, because like many motorists in the Canstar survey you too could be disappointed.
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