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House Insurance premium increase by 25%

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  • House Insurance premium increase by 25%

    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


    Click image for larger version

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    thanks
    Attached Files

  • #2
    Yesh - 60% increase in earthquake levy - and there's nothing anyone can do about it.

    cheers,

    Donna
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    • #3
      Plus GST. Nice little earner.
      Lucky inflation is only 7%
      The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

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      • #4
        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).

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        • #5
          Originally posted by hawkeye View Post
          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

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