Reply With Quoteeaglem (08-09-16)
Insurance
I just got my renewal notice for home and contents insurance and its doubled in 1 year
Ive been with them Budget Direct for over 5 years and have never made a claim.
We rang and complained and got no explanation.
We arent far from Bundy and when they got flooded 2 years in a row (once in 100 year floods) nothing changed.
The only thing I can think of is the Cyclone hitting 300 K north of here, ended up putting a big red circle around properties that might get hit by a cyclone in the future, as climate change kicks in and these become bigger and more frequent.
Obviously being on high ground I didnt get flooded by the floods too badly, but it wont save me from a cyclone.
The fun and hidden costs of climate change coming to an insurance policy near you.
Last edited by Dishtrackted; 07-09-16 at 05:46 PM.
eaglem (08-09-16)
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Get quotes......
Mine doubled a couple of years ago, so I more than halved the bill by going somewhere else. It had nothing to do with climate change. SOP apparently to increase dramatically after a few years.....
The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.
eaglem (08-09-16)
All insurance companies that I have heard of do this... they get you in for a while, then rely on you not being bothered to shop around.Originally Posted by enf
Try living in a "cyclone" region - SE QLD has more storms than we do!
This.
Cheap to pull you in, a few years later watch it start to climb.
Car insurance is much the same, im waiting on one renewal for my toys AND im about to up the cover which i feel is undervalued, im going to shop around and THEN call them and ask for their prices and tell them what i can find elsewhere if their prices are higher.
Quite often they will match or better it.....otherwise nice knowing you.
eaglem (08-09-16)
When I first came here, you could get Flood insurance for next to nothing possibly due to being in the Mountains but Storm and Tempest which went up the year following the major snow fall the previous winter (1965) was the most costly part of the insurance also they applied some 'covenants' to the policy like an excess if you were making a claim for any damages caused by snow which never applied before.
Bush Fires werent even mentioned but after a few areas went up in smoke, your insurance was rated on how 'exposed' you are to it happening.
I stand unequivicably behind everything I say, I just dont ever remember saying it !!
I've been slowly transferring to coles and they've been very good. A friend swears by Youi. Shop around.
Leroy
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I shopped around and they were the second cheapest even when they doubled
I got one for about $20 less and changed on principle
The rest were a few hundred more.
Either they gave me a sweetheart deal for the last 5 or 6 years or some guy has put a red mark on a map after the last cyclone near me and everyone has doubled.
Insurance
Yes mother had to do this , insurance companies use private and gov flood plain data then sometimes overlay together and presto , double bill , she went elsewhere and found a company that used only council / gov data and turned out she was in the clear , so yes each company handles this flood mapping differently so it seems .
Last edited by Au_radio; 08-09-16 at 01:15 PM.
Insurance Company greed and stupidity.
A few years ago our Home Insurance doubled. I rang and enquired why.
The answer was that I am in a flood zone. Funny I do not remember moving house.
I pointed out that for me to get my feet wet, let alone flooded, the Sydney Harbour Bridge would need to be under water.
Her response " I can see that but your still in a flood zone".
Needless to say new Insurance Company and even cheaper than the old.
Godzilla (08-09-16)
Its the red mark......that sucks. When mine doubled, I rang them (GIO, with whom I had never had a claim of any kind) and got no satisfactory answer....when I changed companies, I took everything. 3 cars and house and contents. So far there have only been modest increases of a few dollars.
The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.
Always check your policies and shop around. Insurance companies are happy to take your money, so, don't be too afraid to make a claim, either. I look at insurance as a gamble. They are betting that you'll not make a claim, and you are betting that you will. We've done all right over the years with insurances. I did have to laugh at one claim, some years back. Our area good flooded and the pub down the road went under. The insurance company sent a Hydrologist out to investigate if it was built in the wrong spot. Did I mention the building is 150 years old? They did pay out.
Another time, I managed to throw petrol on an engine fire. I was honest with the company, they sent out an investigator, and I showed them exactly what I did. They paid out on that one too. Yes, insurance companies are looking to mitigate their risks but, at the same time. if you know your rights, and responsibilities there is little that they can do but pay your claim. We have always shopped around, not always taking the cheapest policy, but always taking the policy that covers our goods and the likely scenarios in which they could get lost or damaged.
FWIW We've been with APIA for a few years, and, so far, have seen no need to look any further. Any claims we've have have all been dealt with promptly and with no fuss. When you ring them you always get to speak to a human and, what's more, that human actually speaks English
I'm out of my mind, but feel free to leave a message...
what I cant work out is, market value on the car, why does the premium go up ? yet the market value of the car comes down ??
Funny thing you have a old car worth nothing and pay X amount, yet a newer car worth significantly more is cheaper to insure.
Go figure.....
Me too, im not shy to claim, that's what i pay insurance for.
Then the joy of dealing with assessors.....
Your more careful when its new and you might want to get the shopping trolley scars out, when it gets older, so you get a better trade in
The avability and cost of parts plays a part in the above scenario. Parts for newer cars can be sourced readily and installed easily - which is not always the case for older cars.
irritant (09-09-16)
An old car is also just more and more likely to break down the older it gets. It's basically risk factor.
These people calculate everything on "risk", which is just a fancy way of them saying "we're paranoid".
Last edited by irritant; 09-09-16 at 05:14 AM.
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