Home and contents insurance policy?

[PLANT]

Hi all,

Had QBE but broker says since the claims department moved off shore.....not worth the money as poor claims department results!
Looking at Vero?

Who do you have and recommend?

 

[RooFlyer]

Probably won't help you (unless a CBA customer) but a warning about CommInsure.

I moved from my broker-supplied, QBE H&C policy to CommInsure two years ago as the premium was very attractive (I am a CBA 'Wealth package' customer) and the coverage was if not the same, then slightly better.

On the first renewal, the premium went up 20%. Suspecting a 'bait and switch' I complained and vigorously went after them for the reasons for the large increase. They raise insured amounts by 6% every year as standard (you can vary this) - this is above the CPI for building and contents type replacement. After much correspondence, CommInsure eventually revealed that 11% of the increase was because of the introduction that year of 'local risk pricing' (ie bushfire, storm, flood, past claims consideration based on the postcode). Mollified by a modest '1 off' premium discount, I renewed.

This year - another 20% increase. I got pretty peeved off and again pursued them for the reason / components of the increase. This time they dug their heels in and refused to give any details beyond the 6% increase in insured values. The simply pointed to the PDS which basically says they can do what they like price-wise. They did offer me a quite large 'one off' premium discount this time, but I still went back to my broker and renewed with QBE and sent a note to my 'personal banker' with the reasons. There have been no events in my postcode in the past year that would justify a +10% premium increase based on local risk pricing, so absent any reason given by CommInsure, I can only assume that its a straight premium hike, going to CBA's bottom line.

I will be making a complaint to the FIO as I still believe I was subject to 'bait and switch' pricing.

 

[RB]

Hi all,

Had QBE but broker says since the claims department moved off sure.....not worth the money as poor claims department results!
Looking at Verco?

Who do you have and recommend?

I assume you are actually referring to Vero. We have held insurance with them previously but never had a claim. At the time we were on small acreage & their wording/pricing suited our circumstances.

 

[Deleted member]

Hi all,

Had QBE but broker says since the claims department moved off sure.....not worth the money as poor claims department results!
Looking at Verco?

Who do you have and recommend?

Off sure !!! Seriously. ?

 

[Fifa]

I have been with Coles for a few years now but I haven't had to make a claim thankfully.
Very competitive and when I phoned this year to enquire about the price increase the rep was able to apply a couple of discounts to bring it down to last year's price.