Home & Contents Insurance renewals...

MasterOfReality

After forever
My premium with NRMA has gone from $2.5k to $2.9k, so a 16% increase. No claims, and I live on top of a ridge so no flood issues for my house.

Meanwhile the insured house value increased by 5% and contents value by 4%.

Time to look elsewhere.
 

ForkinGreat

Random Krishna
Woo! fun fact. GIO doesn't automatically apply discount if you have (eg) home/strata insurance and contents with them. Got our insurance guy to sort that, so only stung for about $1060 (down from $1242).
 

wornoutwords

Likes Dirt
I grumbled at Allianz for 2 years to repair a pergola that would leak under heavy rain.
similar experience here;roof leaked into house, eaves, rotted barge boards etc.

First assessor offered around 1k but persistence paid off and the final payout was around 6k a few month

Insurance claims are a negotiation unfortunately

we’ve churned elsewhere now hehe, our premiums over the lifetime of the cover nearly covered the payout hehe
 

Mr Crudley

Wheel size expert
Insurance claims are a negotiation unfortunately

we’ve churned elsewhere now hehe, our premiums over the lifetime of the cover nearly covered the payout hehe
True, it is very easy to pay them regularly but usually a hard slog to get anything back.
I suspect that it won't be getting easier for any insurer given the amount of flood claims over the past few years. They will be crying poor again.

The real test of insurance is only at claims time and if the fine print will come to bite you.
 

Minlak

Ask me about HoboBlo franchise opportunities
Yeah, Allianz for one won't insure property up here.
A lot of the companies that offer / advertise as being cheaper do so as they reduce the risk significantly to them - Wont insure certain postcodes / people / cars / bikes etc - Not even oh we don't really want you here is a stupid high premium sucker you if you say yes - It is a flat out oh sorry we can't insure you.
 

Minlak

Ask me about HoboBlo franchise opportunities
True, it is very easy to pay them regularly but usually a hard slog to get anything back.
I suspect that it won't be getting easier for any insurer given the amount of flood claims over the past few years. They will be crying poor again.

The real test of insurance is only at claims time and if the fine print will come to bite you.
I just went to a new insurer for the motorcycle and the number of places that were happy to take my money but unable to tell me if something was a mod or not was ridiculous - I have my bike ECU tuned people on the internet call it a MOD - some insurance call it a MOD - some then say as you did not physically get a new ECU its not a MOD and most of them said we will list it here and the claims people will decide if its an issue - UMM WTF!!! I have to wait for a claim to find out if I am covered - Good news is several of them told me that if the claim was rejected as I had told them about the "MOD" they would cancel the policy from inception and I would get a refund - LOL!!!
 
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Mr Crudley

Wheel size expert
I just went to a new insurer for the motorcycle and the number of places that were happy to take my money but unable to tell me if something was a mod or not was ridiculous - I have my bike ECU tuned people on the internet call it a MOD - some insurance call it a MOD - some then say as you did not physically get a new ECU its not a MOD and most of them said we will list it here and the claims people will decide if its an issue - UMM WTF!!! I have to wait for a claim to find out if I am covered - Good news is several of them told me that if the claim was rejected as I had told them about the "MOD" they would cancel the policy from inception and I would get a refund - LOL!!!
Mods are a worry. I hear you. I tell insurance everything even if it pretty dull or mundane. I don't want possible future hassles.

I have told them about my cars aftermarket control arms, a towing hitch, aftermarket head unit and even aftermarket brake rotors and pads.

None of that stuff will make it faster or riskier but, y'know, they would love to have an excuse to say 'No' if I ever come running cap in hand asking for money. Insurance = pedantic time.
 

MasterOfReality

After forever
Has anybody has flood cover removed from their policy? Did it make much difference in premium?

Been looking around and it seems that my NRMA renewal is one of the cheapest. Suncorp quoted me 3.7k.
 

MasterOfReality

After forever
Allianz allows me to opt out of flood cover. I live on top of a ridge line so flood cover not applicable to me.

Their premium is ~2.3k for the same insured amounts as NRMA. Some $600 less.

Just need to narrow down the implication of having a business at home.........
 

tubby74

Likes Bikes and Dirt
Allianz IMO don't have the best rep for paying out on claims. I had some travel insurance with them one time. it was only after I got home and was looking into car/home etc insurance that I read some reviews that described Allianz as fuckheads who often refused to pay out on travel claims, That's pretty shit - even for an insurance company. YMMV...
i had to cancel a big family trip to Japan and europe when i got my cancer diagnosis a few years back. ANZ c/c insurance is backed by allianz. they refused to pay as I should have known the prior symptoms that lead to the scope that found it were a serious issue. They eventually paid out as "goodwill" when the gastroenterologist said he never even mentioned the word earlier as he thought is was a mild colitis. Was going to ask them to back my new medical practice as I must know better than experts with decades of training and experience.

On the other side, Onepath took the claim, asked for details, I asked how to send medical records etc, then the paid in a week or so on the trauma claim. as simple as it could be
 

Flow-Rider

Burner
I can't understand how much extra these specialists want after the insurance payouts, there should be caps on how much they can charge or the insurance companies meet their needs. I'm dealing with a family member that has Hodgkin's lymphoma and I've never seen grubs like this take advantage of other people's misfortune.
 
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Squidfayce

Lives under a bridge
Renewal notice from GIO for home and contents. came, and they were asking extorting us for 54% more than last year. FAAAAAAAARK :oops::mad:
It must have been a bit fkg much even for our insurance broker, who contacted GIO themselves without us asking, to knock $93 off the premium. still about $1250 though.

Anyone else feeling violated by their insurer?
I don't know what your home value is, but it is worth noting that insurers have a threshold somewhere after the 1M mark that takes premiums from "reasonable" to "shut up, you're rich so you can afford it". What has been happening in recent years, homes that have been sitting on the high end of reasonable have been crossing over to the other side as prices skyrocketed and the premiums have been surprising average joes.
 

Minlak

Ask me about HoboBlo franchise opportunities
Just need to narrow down the implication of having a business at home.........
We just realised too that we run a business from home and never told insurance - no one comes to our house and our abn / business location for ASIC is actually at our accountants address so not sure what that means - we think the risk should be less as we are home more but anyway will find out Monday if I live
 

MasterOfReality

After forever
We just realised too that we run a business from home and never told insurance - no one comes to our house and our abn / business location for ASIC is actually at our accountants address so not sure what that means - we think the risk should be less as we are home more but anyway will find out Monday if I live
Our pty ltd address with ASIC is our home address.

Nobody comes to my office. From a quick Allianz pds read, it appears that equipment or items used for the business isn't covered. I have a laptop I paid 10k for, plus several thousand $ of other tools I use for site investigations, not to mention an expensive desk, chair, printer, monitors, reference books etc. Should probably start researching on what insurance will cover that.
 

MasterOfReality

After forever
Damn it, called up NRMA and told them I run a business from home, its just me and nobody else. Premium went from 2.9k to 3.3k to cover my home office stuff.

Edit - called Allianz. I misinterpreted the PDS, office equipment is covered but the limits are fairly low with no option to increase. $1500 per item up to $10k. NRMA in comparison includes home office equipment under general contents, hence the higher premium.
 
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