Monday, December 21, 2009

Virgin Set To Give The Car Insurance Industry A Complete Overhaul

In accurate Virgin style, Sir Richard is arduous an industry that is bedeviled by two above players and wants to accord Australians greater best and a fairer go.


“I am captivated to appear to Australia already afresh and clearly barrage one of Virgin Money’s absurd new products, Virgin Car Insurance. Australian motorists aren’t accepting a fair accord if alone two behemothic players own 75 per cent of the car allowance market. The time is accomplished to accord the industry a complete overhaul,” he said.


In a absolute claiming to the above two players, Virgin Car Insurance is introducing capped premiums for the aboriginal two years, arduous the angle that car allowance premiums usually acceleration anniversary year while the amount of cars fall.


In addition annoying move, Virgin Car Insurance is aswell alms 13 months for the amount of 12 months if barter sign-up to absolute awning online.


“Just this anniversary we did a amount allegory of Virgin Money’s comprehensive car insurance action compared to four of our bigger competitors, “ Sir Richard Branson said. “Using a accepted car and disciplinarian as criteria, Virgin Car Insurance comes up 35 per cent cheaper than the boilerplate action amount of AAMI, GIO, NRMA and QBE,” he said.


“Most Australians don’t apperceive they can abolish their accepted car allowance action and usually get a refund. So Aussies accept every acumen to about-face and get bigger breadth out of their car allowance with Virgin!” he said.


Matt Baxby, Managing Director of Virgin Money Australia aswell challenges the industry norm. “Most humans just access that their car allowance goes up every year, while they apperceive their car is account less. It just didn’t accomplish faculty to us. On boilerplate premiums above the industry are on the acceleration and by capping these premiums for two years it could save the 88 percent of Australian motorists who accept absolute awning added than $200 million,” according to Mr. Baxby.



-ends-



Notes to editors:



•Virgin Car Insurance is afraid up the Australian car insurance industry, currently bedeviled by alone two above players, by carrying an accomplished artefact at a abundant amount amount accurate by chump account that anybody has appear to apprehend from Virgin.

•Challenging the angle that car allowance have to acceleration every year, Virgin Car Insurance will cap premiums for the aboriginal two years, if your affairs don’t change and action 13 months for the amount of 12 months if signing up for comprehensive awning online.

•All of Virgin Car Insurance behavior are underwritten by Auto & General Insurance Company Limited. Auto & General is an Australian allowance aggregation adapted by APRA and is a affiliate of the Insurance Council of Australia.

•For added advice on Virgin Car Insurance go to www.virginmoney.com.au/car-insurance or alarm 1800 887 707



For media enquiries, amuse contact:



Gordon Coulter

Senior Partner

Wrights Public Relations

Tel: +612 9253 4100

Mob: +61 418 545 822

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