50000 Bonus Points for new eligible Car or Home Insurance

[MelbFlyer]

They could always join AFF and post looking for help every time they want to do even the simplest things...

Or they could refer to the countless posts on Pointhacks etc for tips.

 

[Mr H]

Or they could refer to the countless posts on Pointhacks etc for tips.

I wonder why they don't...

 

[Lat34]

Cost of living pressures is pretty much the "it" thing now.

$2,500 worth of groceries, depending on your family size, will be weeks / months worth and some would find it more beneficial to spend on necessities over luxuries.

I was one of the lucky winners and at the time was banking Woolies points as already reached PC+ and my year ends April.

Not keen to transfer all those promo points (plus 2x travel insurance policiy points) in one transaction as I already have over 980k QFF points.

I dont' think there is a way way to transfer only a portion of the points so the current plan is to convert to $$ off shopping from May onwards, spend a portion on groceries then convert to QFF sometime during my next membership year for PC/PC+ status.

 

[Gold Member]

This one, you are going to spend $260 or $390 for 20/30/50k of points

I did some quick math on this deal and it stacks up for me. The $260 (60 day pro-rata after refund) isn't the outright price of the points. You need to compare it to the cheapest preferred alternative with Like for Like policy parameters that you're happy with, which for me is $170 with AAMI (not the exact same policy, but as close as I could get them to match). So in effect, I'd be paying 0.003 CPP (260-170)/30,000. And with no credit enquiry either, that's a no brainer.

But my current Insurer (AAMI) cannot provide the Industry norm "Rating 1 No Claim 5+years" certificate or proof because they don't use that rating system and instead categorise into airline lingo such as Ruby, Platinum, Diamond etc. Apparently the category reflects your tenure and driver safety rating which is subjectively determined and is not a match to the Rating 1 system. Without this certainty, I'm not risking a legal technicality on something like this (which I just know the villains at an Insurance company will pull on me) if I need to claim on my car insurance during the 60 day period for the sake of 30K QFF points.

Anyone had any experiences with providing AAMI Rating 1 certificate/proof etc?

 

[Mr H]

I was one of the lucky winners and at the time was banking Woolies points as already reached PC+ and my year ends April.

Not keen to transfer all those promo points (plus 2x travel insurance policiy points) in one transaction as I already have over 980k QFF points.

I dont' think there is a way way to transfer only a portion of the points so the current plan is to convert to $$ off shopping from May onwards, spend a portion on groceries then convert to QFF sometime during my next membership year for PC/PC+ status.

I know different people have different priorities...

... but I do not rate PC/PC+ highly enough to let if deter me from banking points when I can. Sure, I chase PC+ but it doesn't really make much of a difference to my life.

I also don't prize groceries. I would rather have $2,500 of free groceries than nothing, but it isn't going to make my heart sing. I would have bought the groceries anyway and will not notice the savings. International business class flights, on the other hand, are beyond my means unless I have points. And they do make my heart sing.

I remember when I had 980,000 points and they felt like a lot. I guess many of us here now have bigger stashes. Personally I have 2.6 million. That is 8 OWAs. I have spent 1 million since Covid including travel up to January 2025, so I know how quickly you can burn them when you put a mind to it. I still want more. And 250,000 points is a nice amount that would be too much for me to turn down, but not enough to retire on.

Look, I hope you enjoy your soup- or whatever else you are going to get with your winnings, but I can;'t help feel that this PC/PC+ thing is blinding you a bit into making a poor decision.

 

[Mr H]

Anyone had any experiences with providing AAMI Rating 1 certificate/proof etc?

It's a long time since I was lucky, but IIRC the ruby, silver, etc. is based only on the number of years you have been with them, not on whether you have claimed. IIRC the insurance certificate did have a reference somewhere to max no claims discount. In any case, I did not get pulled up on it when I decided to stop being lucky.

 

[levelnine]

I remember when I had 980,000 points and they felt like a lot. I guess many of us here now have bigger stashes. Personally I have 2.6 million. That is 8 OWAs.

You are, in fact, the perfect candidate for someone who, in rational terms, should be redeeming for groceries rather than converting to Qantas. There's only so many OWAs one can take in a year. Points are subject to the law of diminishing returns — every additional point becomes less valuable than the last once you have more than you can reasonably redeem in a reasonable time period (eg 1-2 years). Especially because Qantas could come along and destroy the value of them tomorrow (eg by abolishing OWAs like Singapore is doing with its RTW product).

 

[Mr H]

You are, in fact, the perfect candidate for someone who, in rational terms, should be redeeming for groceries rather than converting to Qantas. There's only so many OWAs one can take in a year. Points are subject to the law of diminishing returns — every additional point becomes less valuable than the last once you have more than you can reasonably redeem in a reasonable time period (eg 1-2 years). Especially because Qantas could come along and destroy the value of them tomorrow (eg by abolishing OWAs like Singapore is doing with its RTW product).

Yes I know. But I'm also 53 years old and cannot continue churning in retirement. I want to build a stash even with the risk of devaluation. At the moment I am doing maybe one ultra long haul and a couple of medium-long haul trips a year so I do expect to use at least the points I currently have.

 

[lovestotravel]

One thing I don't like about the Qantas car insurance is the 14 day max period for a hire car.

With the current length of time repairs take that's not long enough

 

[Gold Member]

It's a long time since I was lucky, but IIRC the ruby, silver, etc. is based only on the number of years you have been with them, not on whether you have claimed. IIRC the insurance certificate did have a reference somewhere to max no claims discount. In any case, I did not get pulled up on it when I decided to stop being lucky.

I took the plunge and called Qantas Car Insurance expecting a lengthy delay and a difficult conversation with English as the Agent's second language. I almost fell off my chair when a lovely lady answered immediately with an Aussie accent.

Long story short, although the online form makes no mention of it, apparently (and she said this call is monitored so that I can reference it if necessary) when you select AAMI as your previous Insurer the system automatically grants you Rating 1 NCD 5y+, but only if you have:

1) Held AAMI Comprehensive for the past 12+ consecutive months
2) Made no claims in the past 12 months

I meet both of these requirements so it seems I can partake in this points grab after all.

Sneaky side note: This is like a get out of jail card for Drivers with poor driving records wanting to clear they're history. Join AAMI (assuming they will let you) and pay whatever premium they're asking, hold it for 12 months and don't make a claim, and then churn back to someone like Qantas or any other other Insurer that recognises AAMIs different rating system in the same way. You are then immediately granted Rating 1 NCD 5y+ status. It's sorta like a deferred paid status fast (slow) track loophole, but for the car insurance world.

 

[knightfall88]

Well I have cancelled my motor insurance and my home/contents insurance today. They still had ten months to run. That's a loss to them of $3000. Hope they think it's worth it.

Just confirming - are we allowed to set up monthly payments for premium and get awarded points?

 

[Lat34]

I know different people have different priorities...
... but I can;'t help feel that this PC/PC+ thing is blinding you a bit into making a poor decision.

We have A LOT of outgoing expenses and churn through points with award redemptions mostly between Asia, Europe and USA/Canada. Getting to PC/ PC+ is at the absolute bottom of a much longer priority list. If it happens, it happens. If not then "meh"

 

[Gredgy69]

One thing I don't like about the Qantas car insurance is the 14 day max period for a hire car.

With the current length of time repairs take that's not long enough

I know what you mean. I got my car back from the repairers 22/3 from the accident I had 9/1. Now Europcar are trying to sting me $450 for a professional car clean of the hire car saying it was too dirty when I returned it.

 

[lovestotravel]

Just confirming - are we allowed to set up monthly payments for premium and get awarded points?

Yes

Post automatically merged: Apr 26, 2024

I know what you mean. I got my car back from the repairers 22/3 from the accident I had 9/1. Now Europcar are trying to sting me $450 for a professional car clean of the hire car saying it was too dirty when I returned it.

I hope you took photos of the car inside and out

I'd be asking them for photos of the "excessively dirty" car

Otherwise good luck