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Thread: Insurance Premiums post bushfires.

  1. #1
    Join Date
    May 2009
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    Insurance Premiums post bushfires.

    House insurance arrived today







    Not a bad cop!

    House insurance cost up $285, a staggering 48%

    Interestingly contents insurance down $101 or 16%

    Which somehow in applied mathematics insurance style gives a quoted "Change on last year *14.9%"

    So it's all OK then

    Deano
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  2. #2
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    I had my car insured with the same company when the Canberra fires came through in 2003. In Canberra, a suburb may not have its own postcode and it may be shared with a number of suburbs - my postcode covers 10 suburbs of which about 4 were decimated in the fires and my own suburb lost about 10 houses.

    Three months after the fires I got my car insurance renewal which had gone up 60% so I went to the AAMI office, and the guy explained that even though there were no car losses in my actual suburb, because hundreds of cars had been lost in my postcode that is why the premium went up. Hmmm Ok.

    I then asked him, that in the next year when there will be few claims, I can expect my following year's premium to go back down - with a real nasty smirk across his face, he said "dont be silly - once up the premiums go up they never come back down" - and he was right - the following years premium stayed up even though there were few claims in the post code.

    Garry
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  3. #3
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    Quote Originally Posted by 101RRS View Post
    I had my car insured with the same company when the Canberra fires came through in 2003. In Canberra, a suburb may not have its own postcode and it may be shared with a number of suburbs - my postcode covers 10 suburbs of which about 4 were decimated in the fires and my own suburb lost about 10 houses.

    Three months after the fires I got my car insurance renewal which had gone up 60% so I went to the AAMI office, and the guy explained that even though there were no car losses in my actual suburb, because hundreds of cars had been lost in my postcode that is why the premium went up. Hmmm Ok.

    I then asked him, that in the next year when there will be few claims, I can expect my following year's premium to go back down - with a real nasty smirk across his face, he said "dont be silly - once up the premiums go up they never come back down" - and he was right - the following years premium stayed up even though there were few claims in the post code.

    Garry
    I keep telling my insurance Co that my premiums should be going down as the vehicle gets older & there pay out figure goese down not going up . They then tell me our area is a high risk area , I have lived in the same house for 40 years there has never been a brake in in our street or any of the streets with in 1/2 km .

  4. #4
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    Sep 2007
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    According to our insurer for house, van and cars we too live in a high risk area. All because of one absolute **** head who makes false claims for everything he can including massive damage to his house from hail one year and their useless loss adjusters ticked off on his claims and he got over a 100 grand payout.
    A builder who worked on the house reckoned it was the most ridiculous claim he'd ever worked on. Damage to the outside plastering was more from neglect than anything else.
    AlanH.

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