NRMA Insurance builds car out of optional extras
NRMA Insurance has launched a campaign to highlight how it covers optional extras other insurers do not.
The campaign will see a ‘concept’ car created out of different car extras from different makes and models.
The idea can be followed over the next six weeks online at NRMA’s YouTube account.
This won’t disguise the fact that IAG [who acquired NRMA Insurance in 2000 when the Road Service ‘demualised’ courtesy Nicholas Whitlam] have become one of the most expensive in the marketplace all the while making it even harder for ordinary loyal policy holders to claim – eg homes and cars in the 2011 Brisbane Floods.
This campaign will no doubt be tested by IAG’s competitors who will explain they in fact do cover many of these items. Maybe Misleading and Deceptive under the Trade Practices Act?
Another interesting comparision is where the excess is set by competitors – a lot of small damage is not claimed as the excess is prohibitative.
Nick Whitlam claimed that selling NRMA Insurance would be good for all – in fact it was all the insurance industry as it released them all from benchmarking to a “Not For Profit” Insurance company. Whitlam, who thought he would be Chairman of a large financial group, was then duly spat out by the large institutions once he had done his bit getting it all demutualised.