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Choice names its top performers in personal lines

SA-based insurer RAA is the most trusted personal lines insurer in Australia, according to a survey of nearly 3000 people by consumer advocate Choice.

RAA exceeds expectations among 40% of its customers, while IAG’s motoring brand SGIC – which is also SA-based – scores 39%, followed by RACQ Insurance on 34%.

Over-50s specialist APIA and AAMI, both owned by Suncorp, are the top performers in the home insurance category, with 53% of claimants rating them nine out of 10 for exceeding expectations, while RACQ Insurance wins the comprehensive car category, with 72% of respondents scoring it nine out of 10.

RAA and SGIC have the highest proportion of customers who say they will renew their policies, at 69% and 61% respectively.

In contrast, only one in three Budget Direct customers are likely to renew.

In terms of long-term loyalty, about 25% of NRMA Insurance customers have held policies for more than 20 years, followed by RACV Insurance with 19%.

A minimum sample of 30 policyholders or claimants per insurer was required for the Choice survey.

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