Insurance Renewal

I got my Youi home and contents insurance renewal recently in the form of a letter that suggested that I didn't need to do anything as the premium would be automatically deducted on a particular date (coming up in January) using the credit card that they have the details stored. I rang them anyhow to confirm that I didn't need to do anything and the bloke on the other end said "wait a minute, I might be able to get you a better premium". So, despite a 5% increase in house value and contents value, he reduced the annual premium by $100 (over the one in the letter), making it around $5 less than last year. He said I should ring up every time the renewal notice is received as the service officers have the authority to review the premium and adjust it! I got the distinct impression that the renewal letters are completely computer generated, included the premium amount - some people obviously just pay it (as I was going to do having done an on-line check with AAMI to confirm that it was competative) but he definitely said that was not the way to go. What a system!

A bit like bike insurance ... ring up and get quotes ... don't just pay against a letter.

Just got the house insurance and it has gone up 100% to $3000 (RACQ), including a flood insurance that I have no choice about !!

I am jack of it and have told my wife to not worry about it and take our chances. Of course she is the smart one and is going to ring around for other options.

TRUCK, You were lucky, we got our home insurance renewal in October and it went from $720pa with flood cover to...............wait for it
$5,035!!! Thats with NRMA our version of RACQ. And I'm in central Wagga not Nth Wagga ( that flooded in March ). Ring GIO mate.
$750 with complete flood cover and more cover in the home & contents. The GIO office here has had to employ extra staff to cope with the
thousands of customers changing over. Unless of course you have had a bad experience with GIO??

Bloody hell!

What Ewok said JTB !, similair story, tried YOUi and wont insure due to "threat" of inundation.

Will try GIO and see how I go there. Thanks for the tip.

So, now talking about car insurance, not house insurance. Got the renewal from AAMI for the XR6 today - it's actually down a few $$ on last year (a first for many years). However, I went online to the AAMI website and typed in the exact same details for a quote, and guess what - if I buy a new policy online rather than renew the old one I save another $70 odd!! That is for exactly the same coverage.

The more I think about it, I reckon you're better off opening a separate bank account and paying a reasonable insurance premium into it every week. You would be surprised how much you'd have in that account when you finally need it. The biggy is having enough control not to touch it for other shit. When you think about it, how much do you pay for health insurance? And how often do you need it? The health insurance mobs pay stuff all of your doctors/hospital bill when you get it. But you seem to have already paid that amount to them.

Jimmy the Boy wrote:TRUCK, You were lucky, we got our home insurance renewal in October and it went from $720pa with flood cover to...............wait for it
$5,035!!! Thats with NRMA our version of RACQ. And I'm in central Wagga not Nth Wagga ( that flooded in March ). Ring GIO mate.
$750 with complete flood cover and more cover in the home & contents. The GIO office here has had to employ extra staff to cope with the
thousands of customers changing over. Unless of course you have had a bad experience with GIO??

Jim, I know a few people who live in 'Central Wagga', but changed to 'South Wagga' and their premiums were substantially reduced.

I live in Mt Austin (near French Fields), so if the river ever flooded up to our way I'll be looking for a bloke called Noah and his Ark.

truck wrote:Just got the house insurance and it has gone up 100% to $3000 (RACQ), including a flood insurance that I have no choice about !!

I am jack of it and have told my wife to not worry about it and take our chances. Of course she is the smart one and is going to ring around for other options.

I received a renewal for house insurance last year that went up by 115% due to flood risk policy. I rang the company and told them that they need to look more closely at Geography rather than drawing a line X distance from water. I live on a hill right next to Parrammatta river and for my house to flood the water would have to ride 47 meters? needless to say the flood insurance was instantly removed.

Same story here, if i ever flood Tsv will already be under water.

Sadly all the other quotes I rang were well above my RACQ insurance by as little as $2-300 to $2100. Kaupy has it in one I think, just need to convince the wife.