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Insurance Warning

Insurance Warning

Old Feb 17th 2006, 2:12 am
  #1  
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Default Insurance Warning

We took out a policy with our bank when we arrived and have recently made a claim for accidental damage to a TV. Our insurers have said OK to covering part of the cost to buy a new one, however they say we have to pay the excess. The excess is a staggering 500 dollars!!!!!

Anyone got any suggestions for us to switch insurance companies in Oz.

Thanks
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Old Feb 17th 2006, 2:34 am
  #2  
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Default Re: Insurance Warning

Originally Posted by Neil S
We took out a policy with our bank when we arrived and have recently made a claim for accidental damage to a TV. Our insurers have said OK to covering part of the cost to buy a new one, however they say we have to pay the excess. The excess is a staggering 500 dollars!!!!!

Anyone got any suggestions for us to switch insurance companies in Oz.

Thanks
I think that most Insurers allow the option for ZERO excess. I am pretty sure AAMI do, although we go with a $300 excess.
 
Old Feb 17th 2006, 3:03 am
  #3  
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Default Re: Insurance Warning

Originally Posted by Neil S
We took out a policy with our bank when we arrived and have recently made a claim for accidental damage to a TV. Our insurers have said OK to covering part of the cost to buy a new one, however they say we have to pay the excess. The excess is a staggering 500 dollars!!!!!

Anyone got any suggestions for us to switch insurance companies in Oz.

Thanks
Yes I was suprised to find our policy here has an excess of $300 as standard. We have been used to £50 as standard in the UK!
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Old Feb 17th 2006, 3:17 am
  #4  
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Default Re: Insurance Warning

Originally Posted by Neil S
We took out a policy with our bank when we arrived and have recently made a claim for accidental damage to a TV. Our insurers have said OK to covering part of the cost to buy a new one, however they say we have to pay the excess. The excess is a staggering 500 dollars!!!!!

Anyone got any suggestions for us to switch insurance companies in Oz.

Thanks
Without looking at my policy as I haven't got it on me at this moment in time - We have an excess of a couple hundred $$ too . Hubby broke a window a few months back, and it just wasn't worth us claiming on the insurance for it. No big deal though, It was only a few hundred

We are with Au unity, we've been with them for years ( our account does not have a nil option), but they do have a nil excess option on two of their lower insurance packages ( The "extra care" and "everday care" accounts) . Also the options like $100 excess, $200 excess, etc Most insurers should have these options.

http://www.australianunity.com.au/au...source=topmenu

I wouldn't think it's any different to most insurers either - world wide, it depends on the policy you have with your insurers - hasn't your bank/insurers got a few different insurance accounts/options?


You can get an immediate quote online with Au unity, and buy it online with them in a matter of minutes ( and be covered immediately if you choose to do so). I think it is one of the few companies that do this - online ordering, no hassles -
Don't ask me what they are like with they fastness of pay outs with claims - I don't know, we've never had to make a claim off them in all the years we've been with them ( touch wood)

cheers

Last edited by Ceri; Feb 17th 2006 at 3:33 am.
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Old Feb 17th 2006, 3:46 am
  #5  
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Default Re: Insurance Warning

Originally Posted by Neil S
We took out a policy with our bank when we arrived and have recently made a claim for accidental damage to a TV. Our insurers have said OK to covering part of the cost to buy a new one, however they say we have to pay the excess. The excess is a staggering 500 dollars!!!!!

Anyone got any suggestions for us to switch insurance companies in Oz.

Thanks
We just switched from RACV Home Insurance (apparently if you have home and car insurance with them you get a reduced rate but realised they were charging way over the odds for home insurance with the 'discount') to Allianz. They are pretty good - unfortunately had to make a claim within a few months of joining but they paid up within a fortnight. There was $100 excess but you can opt for $0 excess (and higher premiums) too.
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Old Feb 17th 2006, 4:13 am
  #6  
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Default Re: Insurance Warning

Originally Posted by Jessie James
We just switched from RACV Home Insurance (apparently if you have home and car insurance with them you get a reduced rate but realised they were charging way over the odds for home insurance with the 'discount') to Allianz. They are pretty good - unfortunately had to make a claim within a few months of joining but they paid up within a fortnight. There was $100 excess but you can opt for $0 excess (and higher premiums) too.
I was just googling to find out what the standard excesses are these days (I used to be in Insurance once, so I am curious how things have changed)

I found that Allianz has a standard $100 excess, as you mentioned, and the only UK google one that came up on the first page was Norwich Union, who quote: "our excess on a standard claim is £100"

Whichever country we are in, we need to check what we buy
 
Old Feb 17th 2006, 7:36 am
  #7  
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Default Re: Insurance Warning

Originally Posted by Neil S
We took out a policy with our bank when we arrived and have recently made a claim for accidental damage to a TV. Our insurers have said OK to covering part of the cost to buy a new one, however they say we have to pay the excess. The excess is a staggering 500 dollars!!!!!

Anyone got any suggestions for us to switch insurance companies in Oz.

Thanks

What bank are you with. I'll buy shares in them.
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