Eric Insurance has stopped offering motor vehicle insurance due to a change in strategic direction. When your policy is due to expire you will receive a letter from Eric with your policy details and the date your policy is due to expire.
Because you’re a valued customer, we have arranged for an alternative provider who is able to offer you a new policy, subject to their underwriting guidelines. You will receive an email from Stella Insurance with a quote.
Your actions:
1. To ensure your cover continues, you need to make other arrangements to insure your car before your cover expiry date. You can do this by reviewing the information package and contacting Stella on the number below or the details provided in Stella’s email.
2. Alternatively, you can visit the Insurance Council of Australia at insurancecouncil.com.au or use their service findaninsurer.com.au.
If you wish to renew with Stella, you need to review the information package you will receive from Stella. This pack will outline next steps for you. If you would like to discuss the information received from Stella or anything else about their offering, you can contact Stella on 1300 633 811 Monday – Friday 9.00am – 5.30pm AEST.
If you have any questions, please fill out our contact us form on the website with your enquiry.
Frequently Asked Questions
Stella is an insurance brand underwritten by QBE Insurance, meaning they are backed by one of Australia’s largest global insurers.
Launched in July of 2020, they are now in their 3rd year on the market. They are also this year’s winners of WeMoney’s Car Insurance of the Year and Best For Value Car Insurance.
Eric will continue to honour your current policy until the policy end date. There is no impact on you during this period.
Once your MVI policy with eric ends, it won’t be renewed. If you take no action, you won’t have insurance cover for your vehicle.
You need to make sure you have arranged cover once your current policy expires.
Yes. Your existing policy will operate as normal. You are fully covered in accordance with the PDS. The process for claiming has not change and will not be impacted by eric’s change in strategy.
Any other policies you have with eric will continue to be in force until the expiry date. You do not need to take any action at this point. You have full cover, in accordance with the policy terms.
Eric will not be offering renewals once these policies come to the end of their term. You will receive a letter at renewal time advising when you need to act and what options you have available.
Your other products are not impacted.
In fact, the change of strategy means eric is focusing more on these other products and getting back to its specialisation. We will continue to write new business in all product lines other than comprehensive MVI.
We can quote you on new products at any time.
No. Eric is an APRA regulated insurer and is required to meet minimum standards. Eric meets all its obligations and your policies are protected in accordance with the Insurance Act.
Eric is not going out of business. We’re simply changing strategy. We’ve tried to make this as seamless as possible for you and have organised a new underwriter to quote you and offer a comprehensive MVI product.