Home & Contents Insurance renewals...

ForkinGreat

ForkinGreat

Knows his Brassica oleracea
Renewal notice from GIO for home and contents. came, and they were asking extorting us for 54% more than last year. FAAAAAAAARK :oops::mad:
It must have been a bit fkg much even for our insurance broker, who contacted GIO themselves without us asking, to knock $93 off the premium. still about $1250 though.

Anyone else feeling violated by their insurer?
 
Mine jumped 12% at last renewal but I didn't argue as I had other shit going on.
We have 2 houses with accidental damage and my trailer on that one premium.

The reason we have accidental damage is it covers our bikes for theft or damage away from the home.

Should probably up the building cost on our main house to allow for the increase in building materials. Just another thing I need to get on to at some stage.
 
ForkinGreat said:
Renewal notice from GIO for home and contents. came, and they were asking extorting us for 54% more than last year. FAAAAAAAARK :oops::mad:
It must have been a bit fkg much even for our insurance broker, who contacted GIO themselves without us asking, to knock $93 off the premium. still about $1250 though.

Anyone else feeling violated by their insurer?
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$1250 total premium, or that's the increase? God, I hope it's the increase or else I'm paying an absurd amount !
 
creaky said:
$1250 total premium, or that's the increase? God, I hope it's the increase or else I'm paying an absurd amount !
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FWIW mine is just under $3k but the accidental damage adds a fair chunk, then the cheap holiday home with accidental damage added more, then adding the trailer was ~$250 on top last year.
Dunno where they got the 12% rise as the sum covered didn't increase.
 
ozzybmx said:
FWIW mine is just under $3k but the accidental damage adds a fair chunk, then the cheap holiday home with accidental damage added more, then adding the trailer was ~$250 on top last year.
Dunno where they got the 12% rise as the sum covered didn't increase.
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Must be administration cost increases ... or risk of claim maybe.

Geebus @Rorschach ... I'm over $4k a year but I have all my bikes covered etc. as specified items with accidental damage like @ozzybmx

Maybe I'll have to do some shopping around when renewal time comes around, but I'm usually too busy with other stuff to spend a proper amount of time on investigating options, terms etc.
 
creaky said:
Geebus @Rorschach ... I'm over $4k a year but I have all my bikes covered etc. as specified items with accidental damage like @ozzybmx
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I'm with Elders where bikes don't have to be named as specified items, they are treated as sporting items under accidental damage and insured for up to $20k each... apart from racing.

Some of them are worth fiddly bucks but it covers all bikes owned so all 15-18 of them are covered for full value.
 
YOUI. I'm about $2.2K for home and contents. Accidental coverage and portable coverage on the bikes. You don't have to itemise bikes. They are just individually covered up to $20K each.
 
creaky said:
Must be administration cost increases ... or risk of claim maybe.

Geebus @Rorschach ... I'm over $4k a year but I have all my bikes covered etc. as specified items with accidental damage like @ozzybmx

Maybe I'll have to do some shopping around when renewal time comes around, but I'm usually too busy with other stuff to spend a proper amount of time on investigating options, terms etc.
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Jeebuz @creaky - How much is your home worth*? (Or your bike collection! :eek:)

My (smallish) property that has just sold a little above $600k is insured with AAMI for home and contents for around ~$1200, plus roughly another $800 for 3 bikes totalling $25K value (even outside of the home for either accidental damage or theft from a locked vehicle/premises). Since I sold my Carbondas I've just delisted them from the policy and got a refund of $540.

*No need to say, but bloody hell I would shit my pants if I got a home insurance renewal rock up asking for $4k. o_O
 
beeb said:
Jeebuz @creaky - How much is your home worth*? (Or your bike collection! :eek:)

My (smallish) property that has just sold a little above $600k is insured with AAMI for home and contents for around ~$1200, plus roughly another $800 for 3 bikes totalling $25K value (even outside of the home for either accidental damage or theft from a locked vehicle/premises). Since I sold my Carbondas I've just delisted them from the policy and got a refund of $540.

*No need to say, but bloody hell I would shit my pants if I got a home insurance renewal rock up asking for $4k. o_O
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It's a nearly 100 year old house so maybe that affects the costs? Just checked the policy and 'Building' cover is for $612k and the 'General Contents' $230k and 'Portable Contents' of $42k which is the various specified items (bikes, jewels etc.).

To be honest I've been with Allianz on this house (nearly 7 years) and just ported that over from my last place (7 years also) so haven't paid too much attention to the creep over time.
 
creaky said:
It's a nearly 100 year old house so maybe that affects the costs? Just checked the policy and 'Building' cover is for $612k and the 'General Contents' $230k and 'Portable Contents' of $42k which is the various specified items (bikes, jewels etc.).

To be honest I've been with Allianz on this house (nearly 7 years) and just ported that over from my last place (7 years also) so haven't paid too much attention to the creep over time.
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Ah, Allianz. Didn't realise you hated your money so much. ;)

But yes, doubtless the age of the property probably has a significant impact on the pricing of your premiums.
 
Check if you are paying flood coverage as well - after all the cyclones a lot of them just added flood coverage even if you dont need it - Our policy doubled until we told them to take off the flood
 
creaky said:
It's a nearly 100 year old house so maybe that affects the costs? Just checked the policy and 'Building' cover is for $612k and the 'General Contents' $230k and 'Portable Contents' of $42k which is the various specified items (bikes, jewels etc.).

To be honest I've been with Allianz on this house (nearly 7 years) and just ported that over from my last place (7 years also) so haven't paid too much attention to the creep over time.
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Might be the portable contents bumping it up. I know a few years back I needed to name my bikes and parts with RAA, this became a right PITA when moving on a bike and building another.
2 bikes were costing me an extra $500 nearly 10 years ago.

I have just added a $4400 trailer to my H&C and it added $250.

Give them a quick call and ask them for a cost breakdown.

If its the portable contents, might want to look at CGU, Elders or YOUI as @DMan as mentioned above. These cover a lot of items that other insurers require to be named contents.
 
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Minlak said:
Check if you are paying flood coverage as well - after all the cyclones a lot of them just added flood coverage even if you dont need it - Our policy doubled until we told them to take off the flood
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I do have flood cover.
 
creaky said:
$1250 total premium, or that's the increase? God, I hope it's the increase or else I'm paying an absurd amount !
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Total, although its a unit, not a big house.
Just remembered that $1250 is for contents only. :oops: Our half of the strata title insurance works out to about $1300ish/year
We aren't really in a flood area, although the back creek got carved out into a deep flood basin.
maybe flood cover is a good idea. Not in an area which tends to flood (not seen one in 30 years) but there's no climate certainty any more.
 
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