Hi everyone, My sister had a horrible experience with her home insurance company when her garage and basement flooded. The insurance company hasn't done anything for more than 5 months now, and the customer service is the worst. The problem is that I am with the same home insurance company and wanted to change to another. Still, I am unsure which insurance company I should have, so I wonder if any of you could please advise which companies to stay away from based on your experiences and which one to go ahead with, especially those of you who have had incident claims before. I am thinking of AAMI (cheaper) or CGU (open to others though). So I would appreciate it if you could share your incidents, good or bad, so we could all benefit from each other, which would help in any future bad incidents happening to our homes. Also, is it better to have sum insured? Or Full replacement cover by AAMI? Thanks a lot everyone.
Best Home and Contents Insurance
Comments
What have you claimed?
Direct debit
Building damage, and it was approved within a week.
I'm with AAMI. Haven't had to claim anything, so I can't say how good or bad they are.
I was with Allianz years ago, and they were amazing. Stuff got stolen and within a week, things were replaced.
Thanks.. Are you having sum insured or home replacement cover?
Home replacement cover.
Comminsure is who I use. It was $100 a month cheaper than anywhere else
I am with AAMI, last year our area had an unexpected power cut for 18+ hours, called their number and they immediately debited $400 to my account, didn't ask for receipts or pictures of food.
Then there was a flash storm and my deck roof leaked and the panels became disconnected, and something broke my upstairs bathroom window. Claims process was easy, they sent an assessor to look, he just had a 2 Min glance and was like Yup. Then he organised the repairs. That did take a while to organise as the storm was pretty bad but I did say, no rush just get to me when you can as it wasn't urgent.
Pretty happy with the process.
Many thanks for sharing your experience.. Are you having sum insured or home replacement cover? Thanks again
Sum insured, although I'm not sure if it's more or less than replacement lol
Depends. If my understanding is correct, replacement cover is exactly that: replacement, irrespective of $ value. Having said that, I would still expect there to be a limit of some description there. Sum insured means that the most they will pay out is $X, irrespective of how much it actually costs for repairs/replacements, which is why some people say to make sure your sum insured has a bit of buffer in it for things like demolition.
Nice
Did they charge any excess for electricity outage claim? I had a similar issue due to storm in Sydney but not sure it's worth ringing them.
No excess
Did your next renewal increase in price?
Chubs but they are expensive!
Changing insurance won’t help as they all have a backlog of claims as well as all the new ones from weather and flooding events, and they all have a lack of qualified builders, plumbers and electricians to make a difference.
Builders can’t finish new home builds too because of the problems
QBE - still fighting a claim from February
Speak to the bank that finances your mortgage. I’m with BOM, and they have insurance that came out to be nearly 25% cheaper than every other company I was quoting with.
25% cheaper than every other company I was quoting with
Who's underwriting the policy and how comparable is the coverage? Insurer's aren't in the business of losing money…
SGIC were fantastic for our only ever claim ten years ago. Problem is they are being absorbed into NRMA although they are stating it will still be same team.
.I had a Budget Direct Claim after a burglary last year. It was right before we went on holiday so I wasn't in a huge rush and it took a while to pay it out, but I probably could have ridden them a bit harder and gotten it faster, but all in all I'd say a B, or a generous B+.
Unfortunately they don't cover my new area so moved to some random brand I've never heard of and hoping for the best.
Anything Suncorp owned stay away!
Which insurance companies are owned by Suncorp?
Suncorp trades under a number of brands, including AAMI, Apia, Shannons, InsureMyRide, Vero, Terri Scheer, Bingle, CIL and Tyndall insurance brands in Australiaany reasons?
There is no such a thing as Best home and content insurance.
Keep in mind when natural disaster strikes to entire neighbourhood, doesn't matter how good they are, there gonna be long list of problems when everyone want to get their issue resolved ASAP.My Coles insurance premium this year is 33% higher than last years. Nearly doubled in 4 years.
Not sure who is best but I am with Woolworths for House and Contents. Slightly better price than APIA and much better than Comminsure plus code HOME100 gets you a $100 gift card and you get 10% off one Woolworths shop per month. I get a new quote each year and this year it was $50 more than the renewal but the $100 gift card makes me come out in front.
We’re with QBE and haven’t had any issues.