House Insurance premium increase by 25%

[samsinclair]

Would appreciate any advice how to get around this high cost. Just had mortgate rate increased.

Just got the attached letter from AA Insurance that my premium is going up by 25%. I called them but they said they can't do anything about the earthquake levy gone up by 60% but I asked about why amost 15% increase in base premium, they said they can't help either because costs of building have gone up and that it's not only about my property. That, it's a general increase across their customers.

The cover:
home sum insured: $704,300
Home use: private
occupied as: Owner occupied
type: freestanding home
total size: 173sqm
year build: 1974
Number or storeys: one
wall construction: brick veneer
Roof construction: iron (corrugated)
gaden shed: small

home excess: $1000
unoccupied excess: $1000
natural disaster excess: $5000




thanks

[donna]

Yesh - 60% increase in earthquake levy - and there's nothing anyone can do about it.

cheers,

Donna

[PC]

Plus GST. Nice little earner.
Lucky inflation is only 7%

[hawkeye]

Can you take a larger excess? Or try a different company( but be sure to compare policy documents to be sure they are comparable benefits).

[samsinclair]

Can you take a larger excess? Or try a different company( but be sure to compare policy documents to be sure they are comparable benefits).

will try that