The Royal Automobile Club of Victoria (RACV) is a motoring club and mutual organisation, providing services such as roadside assistance, vehicle, home and contents insurance, personal and car loans, driving instruction, tourism services, home security products, as well as a lifestyle club known as RACV Club.
Today RACV is one of Australia's most active members of the Australian Automobile Association which has member organisations in each state and territory of Australia.
RACV was a founder of insurance brand AAMI (now owned by Suncorp-Metway), and both companies are now major competitors in the insurance market in Victoria with RACV's business venture with rival Insurance Australia Group.
- Roadside assistance – breakdown assistance and other motoring products
- Driver Training
- Finance – car and personal loans
- Insurance – home, car, motorcycle and business insurance
- Home Security – home security systems
- Tourism and Travel – maps and tickets to venues
- Shops – a network of retail outlets to deliver RACV products and other merchandise
RACV provides a roadside service across Victoria to the approximately 1.4 million members and to its interstate and international affiliates.
RACV conducts advocacy activities, campaigning on behalf its members and the general public on issues such as roading, and vehicle standards and safety.
The RACV Club is the RAVC's lifestyle club offering social, recreational and business facilities, with locations in Melbourne's CBD, Healesville, Cobram and the recently announced purchase of the Cape Schanck Resort on the Mornington Peninsula. The organisation has also recently completed building a resort in Inverloch.
The organisation is headed by a board of directors elected by two different classes of members: Club members who number approximately 20,000 and who can vote for all of the board members, and roadside service members who have purchased emergency roadside assistance and number approximately 1.3 million but can only vote for specific directors and consequently have less representation at a board level. A third large group of non-voting members were created in 2006 when customers with renewable products such as insurance were offered 'membership'.
Subsidiaries and investmentsEdit
- Club Assist – 25%
- Intelematics – 100%
- Insurance Manaufacturers of Australia – 30% with Insurance Australia Group