wortho

Hi,
Our NRMA home contents insurance has gone up 15.9% this year & the previous year it was only a 2% increase which was inline with CPI. We have never made a claim (20 years) & the sum insured has only gone up by 9k (automatically).

I am wondering if others are finding the same increase from other insurers? we live in Sydney in a 4 bedroom house & the contents insurance alone (140k cover) is now a $528 premium & thats with all the discounts as we have full no claims & multiple policies etc. Time to shop around I think.

Cheers
Mark

OzSheila

Ring them up and ask them to justify the increase. We are with GIO and all our policies had gone far in excess of the CPI. After negotiation they eventually reduced them to a reasonable amount (still above CPI tho).

Makes me furious - all those people who must just pay and not question.

We suffered damage to our roof last week in Melb storms - 4 tiles. Lo and behold GIO rang on Monday to say we could ago ahead with any expenditure up to $10K without further approval. Our roofer is charging us $480 for the repair but he did offer us a new roof! I too haven't made any claims in a long time but I have to wonder whether I should change my approach.....

spottydog

We're in Sydney, contents insurance this year went up $3 on a $628 premium this year (with cover increased to $205k). We are with GIO, no bonus discounts or claims.

I shopped around as I always do and found that the renewal was the cheapest I could get so renewed. Car insurance I found it notably cheaper to take out a new policy with the same insurer than renew the existing one.

As with the UK I find there can be a huge variance with quotes and an evening surfing is well worthwhile.

OzSheila

Can you do that? Don't they see that you have had a previous policy with them?

What a farcical system?

spottydog

The online system only asks what other policies you have for discounts (I always ignore the one I'm renewing for this purpose) and generally only asks for your suburb until you pay. I found I got the best deals by doing this in the UK too.

wortho

Thanks for the replys guys. So you get penalised for being loyal these days! the banks are doing the same, I had to open another Bankwest account to get better interest rates that they were offering new comers! I have 3 accounts with them already, how many will I have in 5 years at this rate

LittleKittyCat

Phone them and see if they will give you a discount. We were with GIO for house and contents and also both car insurances. We managed to get a far better policy for slightly cheaper with AAMI for house and contents, so we didn't renew GIO for house and contents, then we got several quotes for car insurance from other places and phoned GIO and asked if they would match them. They did, so we saved $150 on one insurance policy and $250 on the other!

jad n rich

All of our insurances , car, house, landlord, contents .... have gone up Shopped around NRMA were still the cheapest

spottydog

Try UBank, better rate without having "introductory rates" plus you can take money out to any account not just a linked one (unless its over $20k then it needs to be linked account but you can set up the link easily without sending bank statements). Also got an Aussie call centre that are probably the best & most knowledgeable call centre I have dealt with ever.