What Insurance & Which Company?

[Perry]

How quirky that you still need to spread your
business across two. We were much the same
for years, until one party offered it all at
a good price, so then we changed to one only.

Recently, they've got up my nose so badly,
that next year may see me back with everything
through a broker.

It's hard to tolerate being treated like a criminal
idiot, (one/the other/both) by one's own an in-
surance company. Once: bitten, twice: bye (bye).

[srv]

It's hard to tolerate being treated like a criminal
idiot, (one/the other/both) by one's own an in-
surance company. Once: bitten, twice: bye (bye).

Yea they are all fantastic until you need to make a claim haha.

[Davo36]

I have used a broker on and off. I thought the idea of a broker was that they'd ring around and get the best price/terms for you.

But what they seem to do is just refer you to 1 of the few companies they deal with on a regular basis. I guess they get a commission from them for doing so.

I found by just ringing around I could do substantially better than them.

David

[Perry]

I have used a broker on and off. I thought the idea of a broker was that they'd ring around and get the best price/terms for you.

But what they seem to do is just refer you to 1 of the few companies they deal with on a regular basis. I guess they get a commission from them for doing so.

I found by just ringing around I could do substantially better than them.

I agree it's wise to check on things. Supposedly (!) the
real benefit occurs when a claim is made. The broker
becomes the mediator for the client, with the insurance
company (or indemnifier - if different) and really works
for their commission at those times.

[srv]

I agree it's wise to check on things. Supposedly (!) the
real benefit occurs when a claim is made. The broker
becomes the mediator for the client, with the insurance
company (or indemnifier - if different) and really works
for their commission at those times.

I think this is very true, we made a claim, got messed around for months, as a last resort hit the bank up (as the insurance was provided through them) then magically the insurance company sent the cheque out & started to return our calls.

[Son of G]

Questions to ask

I am coming up to renewing my policies too.

There are a couple of questions that I will asking my current insurer and potential insures:
1) Am I covered for a P Lab clean-up?
2) What questions must I ask new tenants to avoid voiding my policy. I have been told by one insurance person that if I let my flat to a convicted arsonist & he burns the flat down, I'm not covered.

Who has on their application from "What criminal convictions do you have?". I currently do not have that question on my application form.

[Omad]

I am coming up to renewing my policies too.

There are a couple of questions that I will asking my current insurer and potential insures:
1) Am I covered for a P Lab clean-up?
2) What questions must I ask new tenants to avoid voiding my policy. I have been told by one insurance person that if I let my flat to a convicted arsonist & he burns the flat down, I'm not covered.

Who has on their application from "What criminal convictions do you have?". I currently do not have that question on my application form.

Interesting, can you discriminate against someone if they have a criminal record?

[srv]

Interesting, can you discriminate against someone if they have a criminal record?

Only if they are dumb enough to answer honestly hahaha j/k...

[NESW]

next time I am going to be more careful with any LL policy that I take out. We have just received a settlement on our LL policy for "house contents" being carpet, curtains, curtain rods, TV antenna and after depreciation, the market value on our contents came in at $2700 odd, less the excess of $100.

Now I am currently re-carpeting a 3 bed home elsewhere for $2260 (excl vinyl) and re-curtaining with nets and drawn curtains in the major window areas for $1770.50 with spotlight so to my mind there is a huge discrepancy as to what the policy has paid, to what I believed it would pay.

Because our fire wasn't formally deemed the fault of our former tenants, there was no additional coverage for loss of rent apart from what we had on our house insurance policy.

So for me thinking we had 12 months rent protection in the LL policy if anything went wrong, was a load of bollocks. It has to be proven as to whose fault it was and ours was regarded as an "accident".

[srv]

next time I am going to be more careful with any LL policy that I take out. We have just received a settlement on our LL policy for "house contents" being carpet, curtains, curtain rods, TV antenna and after depreciation, the market value on our contents came in at $2700 odd, less the excess of $100.

Now I am currently re-carpeting a 3 bed home elsewhere for $2260 (excl vinyl) and re-curtaining with nets and drawn curtains in the major window areas for $1770.50 with spotlight so to my mind there is a huge discrepancy as to what the policy has paid, to what I believed it would pay.

Because our fire wasn't formally deemed the fault of our former tenants, there was no additional coverage for loss of rent apart from what we had on our house insurance policy.

So for me thinking we had 12 months rent protection in the LL policy if anything went wrong, was a load of bollocks. It has to be proven as to whose fault it was and ours was regarded as an "accident".

I would keep trying to argue this, pretty much the same exact thing happened to us, was a nightmare to get them to pay up. They will try anything to get out of paying. Wasn't state by chance was it?

[NESW]

No, at the time I took it out it was underwritten by NZI who have since been taken over by IAG.

An interesting tid bit was every time I emailed the company they were unable to reply until they checked with the underwriter. That added to our frustrations somewhat.

The policy was "managed" and sold through the PM. I have told them I won't ever deal with that business again.

[Perry]

So for me thinking we had 12 months rent protection in the LL policy if anything went wrong, was a load of bollocks. It has to be proven as to whose fault it was and ours was regarded as an "accident".

Damn! Damn! Damn! I am sorry to
hear that. Slimeballs, scumbags
and worse.

[NESW]

Yes my feelings exactly....

If anyone can learn from my mistakes and assumptions, then great its helped someone else benefit and kept them from following the same path I went.

I won't say the documentation was misleading, because its certainly all there, but the "headlines" of the policy I feel give a false sense of security and I wouldn't advise anyone to sign up for one of these policies thinking they are being covered for 12 months rental income protection.... because that is wrong.

As an aside we were unofficially told what the authorities believed happened, but virtually most of the evidence is burned although they have placed into storage certain items for future reference.

However the tenants were finger pointing the blame in another area during their interviews, but with the technology and knowledge around these days it was proven that wasn't an issue at all.... the reports make very interesting reading and Crime scene programmes pale in comparision.

[Perry]

As an aside we were unofficially told what the authorities believed happened, but virtually most of the evidence is burned although they have placed into storage certain items for future reference.

However the tenants were finger pointing the blame in another area during their interviews, but with the technology and knowledge around these days it was proven that wasn't an issue at all.... the reports make very interesting reading and Crime scene programmes pale in comparison.

Jees, NESW, you into suspense plots, now?

[NESW]

Hahhaha, Nah Perry but there is only so much a person can say publicly eh!