Anyone heard anything about AAMI buying Shannons??

Mate at work just walked in after being swipe by a car
Anyway he rings AAMI to report it and the other person is with Shannons

Lady says - "thats easy. We own them now"

Hope it doesnt change things too much

I certainly hope not aami are a pack of picks when it comes to getting repairs done , they like to cut cost

Been in place for a year or so.

There are actually only 2 big players in insurance in Austalia. Promina and IAG.

Promina is a holding company for AAMI, Australian Pensioners Insurance Agency (APIA), Just Car Insurance, Shannons, Vero, Asteron and Tyndall plus a few others (RACQ Insurance, etc).

Promina is OWNED by Suncorp Metway

AAMI doesn't own Shannons, Shannons and AAMI are both part of Promina, owned by Suncorp.

Suncorp also own GIO

Confused now.....

I think you'll find that all the companies, while owned by the same parent, have their own offices and departments with their own quota's and profit requirements. Shannons has been one of the most profitable companies in the Promina group for quite some time due to it's Niche Market for collector cars and older drivers that don't have accidents. I can't see why Suncorp would mess with a profitable company. I believe Suncorp have had financial issues in their insurance sector for the last few years. Shannons bucking the trend.

More info:
http://en.wikipedia.org/wiki/Promina_Group 
http://en.wikipedia.org/wiki/Suncorp-Metway 

Suncorp owns both Shannons, AAMI and GIO. ......but you're right AAMI are pricks. The rest are pretty good.

They are all the same. Make themselves look good to the policy holder but screw the repairer and expect quality.
Ever wonder why you see some repair shops with signs on their front door saying they dont do repairs for certain insurance companies?

Totally agree about AAMI - They are a bunch of discriminative arseholes. Even on rego third party they discriminate on where you live. Whats it matter if you live on the North Shore or out at Blacktown, when you have a smash in the city. Why should they charge you more on this pending where you live.

Can't agree with the "their all the same" bit, wifes car was insured with a company associated with her place of employment (pharmacie) and when she had a claim they just told her to get "at least two quotes, and then take it to the repairer of your choice" wasn't a small ding but certainly not a write off. As it happened we got three quotes and ended up going with the middle bloke on a friends advice. All was settled quickly and easily, top marks to them.

just had our mitsubishi repaired by Vero after an attempted theft. Should have been a right off I reckon as the bill was $1850 and the value around $2000. Thankfully it was a no hassle repair. None of the 2 or 3 quotes rubbish either.

$2000?! Did they try entering through the roof or somthing?

i have my daily commodore with AAMI and it was $200 odd i have now supercharged it and a couple of other mods and they quoted me around $400 and now when i go to get it processed they wont touch it. so they put me through to Shannons (who they said is a branch of AAMI) they quoted around $1700. but i had a huge argument with AAMI over the quote they gave me but now they dont recall it. but all insurance companys are blood sucking a55h0les. NRMA are the worst.

Quote:

Originally posted by trickysimon $2000?! Did they try entering through the roof or somthing?

In my personal opinion, if you cant afford the insurance (or don't want to pay the cost) then you cant afford the car.

Scenario being someone with a $8000 car and having to pay $2000 premiums per year. Sounds ridiculous. Then the owner slips on a wet road, no fault of their own, slides into the front of a shop and does $80,000 building and stock damage, and the business cannot operate for 4 weeks adding another $20,000. Now we have a situation where the insured driver pays a $400 excess, maybe even up to $2000 excess and that is it. If no insurance, then a $100,000 bill.

The owner of the vehicle makes the decisions on the model of car owned and level of insurance. A garaged Hyundai Excel on third party/ fire/ theft with a 60 year old owner in the country will be a lot cheaper than a street parked HSV Grange with supercharger and 20 inch wheels on comprehensive cover with a 22 year old owner in Redfern Sydney.

Again this comparison sounds ridiculous, but that is all insurance is. Comparisons of risks.

Here is a good question.

When a vehicle is repaired at a smash repair shop. Who is the customer? The owner of the vehicle or the insurance company?

I would say the insurance company.... lol

it seems to Me that most/all insurance companies don't want people who have accidents... or have any alterations to their vehicle... or modifications... A No No..

Have you seen the REAL insurance company that gives you 10% of the premiums for the last 3 years if you don't have a claim..

ALSO: the insurance company that goes on the amount of KMs You drive a year...

My Wife had a small accident a few years ago, We were with the NRMA for the green slip... probably insurance too

anyway, the next year the green slip [3rd party] insurance was much more expensive... I rang the NRMA and they said You had a claim.... so they hit You twice..
green slip plus Insurance....
Naturally, I'm no longer with the NRMA...

My beetle IS insured with NRMA classis & Vintage car insurance - very similar to Shannons...-
I might switch to Shannons next time....

I registered My Beetle in DEC 2005 and paid third party Green slip etc...
I then had it insured in 2006... all seems OK...

DEC 2006 - I received the green slip in the mail - same price as before... I then did the insurance on the internet website and it was about $100 cheaper....
Turns out that because My beetle is Insured - the green slip is $100 cheaper....

These insurance companies are a mine field...
and they all have their disclosure booklets now...
with lots of fine print.....

Lee

I was driving home on Friday afternoon through Concord andf there was a 90ish Camry with it's nose stoved in
Had rear ended the car in front

Unfortunately my phone wasnt working otherwise i would have taken a picture.

In front with it's rear bumper wrapped round its back doors and its boot missing was a brand new Bently Continental

Now - i reckon THAT will push up the insurance premiums

Not that I mean to be plugging them, but I was surprised when the Vero chick said we dont lose the no claim bonus unless you make 2 claims within 12 months.

, plain and simple really, you get what you pay for, get cheap insurance and get a cheap result!