Thread: Home insurance increase

Originally Posted by Tombie

Much further Norf
I’m retiring out of country

That is what I thought, but didn't like to say.

We tried for a quote from Allianz and QBE only to find they are the same insurer. They wouldn't quote owing to there being too many burglary claims (not by us I must add!).

Youi said "We're keen to help however we currently don't provide home cover at this address due to the risk of inundation."

APIA wants $4,850 but their on-line quoting system covers us for $36,000 less than AAMI.

Suncorp wants $5,060.

Can anyone think of any reputable insurers (is there such a thing?) we could try?

Originally Posted by p38arover

We tried for a quote from Allianz and QBE only to find they are the same insurer. They wouldn't quote owing to there being too many burglary claims (not by us I must add!).

Youi said "We're keen to help however we currently don't provide home cover at this address due to the risk of inundation."

APIA wants $4,850 but their on-line quoting system covers us for $36,000 less than AAMI.

Suncorp wants $5,060.

Can anyone think of any reputable insurers (is there such a thing?) we could try?

You wont get much help...

The Insurers of the Insurers (theres 2 majors globally) have upped their price 300% - this has immediately been passed onto consumers... You'll be lucky if you can get anywhere near last years pricing.

I was watching the TV last night, they where interviewing someone in Qld that got flooded out in the last one that hit Qld the other day and she said that they only last month didn't renew there insurance because they couldn't afford it, and the area that they live in has never flooded. I really don't think now there isn't any area that is safe from flooding/ storms/fire. As the world has changed so much with weather. And they where saying from 2020 or was it 2022 there was over 800,000 house claims in Aust.
With that many claims no wonder insurances are going up, even if you don't put in a claim. Heather

Originally Posted by ATH

Where is gyprock used? Internally? Not many places here built using it as most are double brick.
Maybe the owner should take their case to the state consumer people although most of them are on the side of the big money.....
AlanH.

Great thing about WA - Double Brick homes. Cooler, quieter, and more solid.

On the East coast Double Brick homes would probably be rare to have. Most tend to be Brick Veneer, and say in Victoria mostly all timber framed which holds up the outer single brick layer, and internally gyprock plasterboard walls - so everything would rot if flooded.

Our ceilings which I presume are gyprock type stuff certainly didn't like flood of water that poured in when the tiles got blown off. I've never seen so much rain here and it came from the south-east instead of off the water where we can see the storms coming in.
Many places are also built on those nice flat flood plains so beloved by developers and their mates on councils....... try getting rain/flood damage insurance if living on one of them.
AlanH.

Originally Posted by Roverlord off road spares

I was watching the TV last night, they where interviewing someone in Qld that got flooded out in the last one that hit Qld the other day and she said that they only last month didn't renew there insurance because they couldn't afford it, and the area that they live in has never flooded. I really don't think now there isn't any area that is safe from flooding/ storms/fire. As the world has changed so much with weather. And they where saying from 2020 or was it 2022 there was over 800,000 house claims in Aust.
With that many claims no wonder insurances are going up, even if you don't put in a claim. Heather

It’s not the weather that’s changed, we’ve had these floods/storms/fires before.

It’s where people have chosen to build and live that’s increased the risk profile.

Once open plains get modified with drainage systems which funnel the average water flow ok, until they don’t.

Housing development around these areas drives more water into the lower points, funnelling it and causing flooding in occupied areas.

Fires decimate housing in areas where fires once passed through barely finding a home to raise.

Poor land management programs, locking out access, removing cattle from the high country etc - that’s left LOTS of fuel uneaten - amplifying the effects.

People are suffering from the arrogance of people.

If your creek had been maintained by council correctly, and not restricted downstream, you likely wouldn’t have flooded.
Something downstream (possibly upstream if it channeled increased water flow) caused the event to be what it was. Not your fault… you were just caught in the crossfire.

'People are suffering from the arrogance of people.' Arrogance and greed all allowed under the many rules and regs supposedly put in place to protect people.
None of it matters when there's big dollars floating around..... of course it's rare that anyone is tried and found guilty under our laws as they're there to protect the wrong people. I was told by a Consumer Affairs 'officer' when I complained about the response from about the biggest caravan retailer in WA...... "I hesitate to approach Mr ...... ... as he's an icon of the industry'. Yes and a very rich one (now deceased) who couldn't care less after people have spent their hard earned on crap badly put together vans.
That's the attitude of many supposedly looking after us.
Same with insurance, many brokers are only looking after their own futures and not interested in actually providing the right cover for their client. I had many dealings with shonky brokers when working in insurance (not housing stuff) many years ago.
How about this. Broker asks me for a quotation to cover the fixed plant at a gold mine Coolgardie way so off I went and went around it with their plant engineer etc and pointed out specifically that we could provide cover for stuff like pumps, generators etc if a good maintenance plan was in effect (which it didn't look as if there was) but it would specifically exclude parts not made of metal.
I sent off a quote showing standard policy wording and also pointing out certain exclusions like that above and heard nothing for about 3 months..... then the phone rang and the broker advised they were making a claim on their clients behalf under the policy they had taken out with us!
'Oh yes' I said, 'and what policy was that then?'
"You know the one' he said 'You gave us a quote on cover'.
'Ah yes' I responded 'the cover you didn't take up due to the expence and because you were afraid to tell them how much it would cost'.
Deep silence and then he said 'It's costing upwards of 50k to replace the pipework on the deep dewatering pumps' ..... 'Not our business' I said 'firstly you failed to take up the policy and anyway it doesn't cover those plastic pipes'.
To say the poo hit the fan is an understatement as he complained bitterly about my attitude to HO and anyone else that would listen to him.
But we still didn't pay. You only get what you pay for.
AlanH.