home insurance

C-man

can anyone recommend a good one?

or are they all the same?

Koffee_Kosmo

on 1408421186:

can anyone recommend a good one? or are they all the same?

They are not the same My previous insurer canceled my policy after 10 years and I never made one claim Apparently the whole suburb is canceled due to flood risk I am now with Com Insure by Commonwealth Bank 

C-man

do they all have fine print so they can weasel out of paying? I read  Suncorp own 100% of AAMI, GIO, Vero, APIA, Shannons, Bingle, Just Car Insurance. They also own 50% of RACQ-I, RACT-I and I think RAA-i. IAG own NRMA, SGIO, CGU, Swann, SGIC and TheBuzz

Koffee_Kosmo

I'm pretty sure they are wholly owned by the Comm Bank

derrilex

AAMI are decent enough ( for an insurance company). Their new policies are now complete replacement cover. So whatever it takes to rebuild is whatever it costs. Of course, they will have a estimated cost to rebuild and base their premium on that. There are also other benefits with this type of cover too. My best advice is to not over estimate your contents as this automatically means you have a lot of shit to steal. I went mad and said I had 160k of contents ( due to the scaremongering about being under insured) I have recently made a more realistic estimate of 60k. This allows for 10 k per room which is easily achievable. My premiums went down 70 bucks per month as a result. Win.

Moon

I didn't think AAMI had a particularly good reputation for Car Insurance .. going back a while. My home insurance is GIO .. as they cover flood prone areas .. whereas many don't. I guess you never really know until you put in a claim .. and see if, and how hard they try to weasel out of paying up.

derrilex

AAMI have automatic flood cover now however, one cannot remove it if one lives in a low/no risk area so..... Exactly right moon, one has no idea how good a company is until a claim is lodged. Having said that, my 4x4 is with AAMI too as they will cover me absolutely anywhere in Australia as long as I'm not competing in motorsport, practicing to compete in motor sport or on land unlawfully. Other companies are a bit wishy washy with 4x4's and the offroad side of things

C-man

I am on top a hill of sand, no worries about flooding. actually not much can happen to this concrete house, A big cyclone would rip other houses apart and throw them at me breaking windows ect.

derrilex

So get contents only and take the risk on the building. Although by doing that you would also have no public liability.

conikal

on 1408533823:

actually not much can happen to this concrete house,

Famous last words ! It would take a brave man or a fool not to insure his biggest asset. ( think..fire, storm, lightening Much as I believe all insurance is a simple play on people's insecurity , sometime you have to go with the flow. I have recently moved house and had to reinsure so I did the rounds. There are significant differences in quoted premiums..as much as 50% ! Bottom line , AAMI turned out cheapest and best with their "no limit" replacement policy.   As a back up story, I had to make a claim on my home insurance a few years ago for storm damage, that was also AAMI and to cut a long story short they simply did not mess about with damage assessments, the just asked us to submit receipts for repairs and replacements, and even paid some unreceipted costs for items damaged but not replaced. They have always been good to do business with, compared to some other insurance experiences from hell !