home and content insurance?

[Xavie]

Recently I have been getting quotes for home and contents insurance and have found it extremely frustrating. I have had prices range from $630 through to $1700 P.A. The fine print seems to read the same to my untrained eye.

I decided to go with Shannons as my series 2A is with them and unless I am told horror stories or find GIO or Suncorp would match the price I'll probably stay with them.

I also noticed Shannons did not ask as many questions like is your house on sloping block and all of that where as NRMA asked absolutely all the questions which you can think of and more.

I am concerned about this because seeing it is my house and all the stuff I own I want it safe.

So can any one give me some advice please or what I should be looking for or basically anything I should know?

Thanks,
Xavier.

[RonMcGr]

We used Suncorp in Brisbane.
They did not ask many questions either.
Water got into the roof cavity and the lounge room ceiling sagged.
Suncorp arranged a builder to replace the ceiling and painters to repaint the room :-)

[loanrangie]

I got a new quote after we re financed with CBA and they knocked of about $300 per year from what we were previously paying, they asked a lot of in depth questions and i believe we are now better covered than before at a much lower premium.

[Scouse]

I changed over to Shannons last year. They were very competitive on price & cover my old car bits & pieces which the mainstream insurers won't.

[jik22]

Lots of questions isn't necessarily a bad thing. It could be so they can lower their risk based on the answers and offer you a better price because of it.

We're now with QBE for both cars and house, and although asking more questions and having more itemisation requirements for the contents they were substantially cheaper for the house contents cover.

(It also forced me to actually value what we had instead of guess, so made sure I wasn't under insured as I might have been in the past).

[Xavie]

I think I might go through and value everything and take a day to document etc.. this weekend. And read a few policies to try understand it all and see why some companies want a grand more then others.

Can you hear the enthusiasm?

Xav

[jik22]

Can you hear the enthusiasm?

Xav

Yeah, insurance renewal is my most hated time of year...but a day spent on the phone can save you a fortune and/or get better cover so is well worth it.

The problem is getting to a like for like comparison so the quote means something.

FWIW, the main differences I found was some policies not including "new for old" and/or "accidental damage" but offering it as an extra to keep the initial quote low, which make a huge difference to the premium.

Another thing was the max amount insured for things like sports equipment, art, jewellery and home theatre/electrical and the value at which you are required to itemise them.

In the end QBE required me to itemise far more, but actually had higher maximum cover per category for things like art because it was itemised. Sometimes you just have to look through the marketing hype and spend the time on the phone, no matter what you'd rather be spending your time on!

[Scouse]

I think I might go through and value everything and take a day to document etc.. this weekend. Take plenty of photos too, especially of anything collectable or unusual.
Tools can be grouped together & photographed too.

You can never have too much documented.