What Insurance & Which Company?

[Wayne]

Thanks for the correction! 'excess' ;-)
Unfortunately, the house was not flooded. ;-) AA considers each room as each event. I received one quote for almost $3,000 for all. So, whether we pay for insurance excess $2000 + hallway separately or paying all out of pocket ($3000) would be similar. But, If we use insurance, we pay about $3000 ($2,000 excess + hallway) + premium up in future. It looks like using insurance does not help us in the end in this case.

So what cause the damage and why do you think there should be one excess for what, it seems, AA sees as seperate events?
Was there one accident or several?

[Perry]

I wonder whether this forum could do a survey for which insurance company the members have.

It is possible to add a poll to a thread, after the thread has been running for a while. However, such powers are reserved to Forum Moderators.

If forumites subscribed to this thread want to see a poll, as suggested, then a full list of available insurance companies would be the requisite starting point.

Perry
Moderator

[nano]

So what cause the damage and why do you think there should be one excess for what, it seems, AA sees as seperate events?
Was there one accident or several?

Professional chem-dry person came in and could spot some stains as 'red crayon' something like that, but he was not sure about the rots. He wondered whether they are caused by milk. Around 20 centimetre round shape. 2-3 spots and many stains in all the rooms. So, the verdict by him was the carpet needed to be replaced. I don't know how they see this kind of incidents as each 'event' and add so much excess that one can't use the insurance in the end. Particularly the insurance is really not worth at all in this kind of case, I think. Excess is just too high.

[nano]

It is possible to add a poll to a thread, after the thread has been running for a while. However, such powers are reserved to Forum Moderators.

If forumites subscribed to this thread want to see a poll, as suggested, then a full list of available insurance companies would be the requisite starting point.

Perry
Moderator

It will be interesting to see.

[Keys]

Around 20 centimetre round shape.

Pot plants cause that type of damage.

[flyernzl]

If forumites subscribed to this thread want to see a poll, as suggested, then a full list of available insurance companies would be the requisite starting point.

Perry
Moderator

That should be quite easy.

IAG
Suncorp

All the others just seems to be trading names for one or the other of those two.

[Perry]

But how many forumites know that the X, Y or Z that they are dealing with are subsidiaries of the two that you mention?

And - as I see it - the 'parent' companies aren't especially relevant. It's the name on the facade that each forumite deals with. There are likely an assortment of policy tweaks amongst them, too.

[Wayne]

But how many forumites know that the X, Y or Z that they are dealing with are subsidiaries of the two that you mention?

And - as I see it - the 'parent' companies aren't especially relevant. It's the name on the facade that each forumite deals with. There are likely an assortment of policy tweaks amongst them, too.

I'd agree - though there may be 2 parents the children they have behave differently (as children are wont to do).

[Wayne]

I don't know how they see this kind of incidents as each 'event' and add so much excess that one can't use the insurance in the end. Particularly the insurance is really not worth at all in this kind of case, I think. Excess is just too high.

So a pot plant rots a bit of carpet in the hall - 1 event.
Some kids stain the carpet in the bedroom with red drink - another event
Stain the cream carpet in the lounge with red wine - another event.
Why would the insurer see these as the same?
Generally the excess is chosen by you - chose carefully.

[Bluekiwi]

Waste of time

You have free brokers who live and breathe what the best insurance is for you

[elguapo]

As with any insurance, you've got to weigh up the cost against the likelihood and severity of a loss event.

Exactly. House insurance makes sense; while the risk is low, the scale of the loss could be huge and it's not that expensive. LL insurance always, to me at least, seems to only cover small amounts and costs quite a lot. Over a decent timeframe, say ten years, will you spend more on the insurance than any likely claims? For people who don't deal with suspect tenants, I'd say very much so.

[Bluecoat]

Exactly. House insurance makes sense; while the risk is low, the scale of the loss could be huge and it's not that expensive. LL insurance always, to me at least, seems to only cover small amounts and costs quite a lot. Over a decent timeframe, say ten years, will you spend more on the insurance than any likely claims? For people who don't deal with suspect tenants, I'd say very much so.

Which Insurance covers P damage - I was under the impression it was landlord.

[HPM]

The REAL Landlord Insurance (rlinz.co.nz/landlord-preferred-policy) covers loss of rent, contents and intentional damage. It is on;y available through PM's. The cost of this is $330 per year(incl. GST) You should check if your building insurance covers intentional damage. The policy does cover Meth damage. I also recommend you get a quote from REAL (through your PM) for building/dwelling insurance, they are very well priced.

Jeremy Barker
Hamilton Property Management

[HPM]

You can also see the Policy Wording here rlinz.co.nz/documents/REAL_Landlord_Preferred_Policy.pdf


Jeremy
Hamilton Property Management

[nano]

Where are the free brokers? Who are they?
I have seen an insurance company that is connected to CPI (Capital Property Investors), crombielockwood.

I might look into other insurances and how they do better. Does anyone use this company?