house and car insurance comparisons

Discussion in 'Living Room' started by justine77, 29th Jul, 2019.

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  1. justine77

    justine77 Well-Known Member

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    Every year i get huge car insurance and hosue and contents bills for very modest cars and house and contents and i'd like to see how to compare or bring price down as usually i find it too ahrd to answer the above and i get scared and pay too much then. id like any good advice or hints please.
    thank you
    1 would you go with companies such as real insurance and woolies for car or house and contents insurance

    2 for a modest 3-5 b edroom house with lounge dining room how much would you insure contents. 25000-60000 we dont have anything fancy at all and kids really have all left home though there are alot of toys fr grandkids. it seems premium doesnt come down much either way for some companies

    3 how do you compare house and contents insurance eg aami promise full replacement not looking at value is that a good deal. how would i know value to rebuild a 4-5 bedroom double brick house approx .

    4 how do you compare car insurance
    eg some give market value or some agreed value at the moment they dont seem very different
    excess
    if they let you choose repairer
    if them or their repairer give a replacement car
     
  2. Dan Donoghue

    Dan Donoghue Well-Known Member

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    Don't forget to factor in multi policy discounts into your decisions making process, it can sometimes change who the cheapest is.
     
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    Policies are cheaper for newer cars, as they age they can exceed 10% of the value of the car and you still won't have enough to buy a similar car of the same vintage.
     
  4. kierank

    kierank Well-Known Member

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    A major consideration for me is:

    How good is the insurance company’s payment history regarding claims?​
     
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  5. justine77

    justine77 Well-Known Member

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    so would you use woollies or real insurance for house insurance or budget direct for car insurance.
    i do tend to like to know that either the insurance or the repairer give courtesy cars as makes like so much easier.
    and if the repairer is very local its also so convenient.
    i used to pay more to go with companies who let you choose your repairer for that reason.

    how would you work out building or contents replacement cost please.
     
  6. justine77

    justine77 Well-Known Member

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    Last edited: 30th Jul, 2019
  7. Dan Donoghue

    Dan Donoghue Well-Known Member

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    Everything with me is through NRMA.

    I moved to them because they were cheaper than AAMI when I bought a turbo subaru back in 2010.

    The claims process for both AAMI and NRMA is brilliant but the NRMA one is the better of the two with the first question being "Are you okay" which it thought was just a nice touch.

    The guy who ran into the back of me claimed it was my fault (which it wasn't) and NRMA couldn't dispute it so they paid for both his and my car to be fixed (which annoyed the hell out of me but anyway) and there was no impact to me or my no claim.

    This was only 2 weeks after I got it back from a paint repair also covered by NRMA, they never once questioned anything they just made it really easy for me, I pay extra for a hire car option so that was all organised for me and they ordered a cab for me to pick me up from where I was and take me to the hire car place.

    I never called a cab, the hire car company or the repair company, NRMA sorted it all out for me and just kept me updated.

    With regards to home insurance, we had a leak. NRMA sent someone out straight away to dry the walls and assess the damage (There was none). Turned out to be a house defect (which later turned out to be a blocked drain) so wasn't covered but they didn't charge me for the work done so far, I just cancelled the claim and everyone moved on with their lives.

    Once again the process was super simple and they were very understanding and helpful.
     
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  8. justine77

    justine77 Well-Known Member

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    from what i'm reading it seems that the cheaper companies woollies real insurance budget direct,
    make it very hard when making a claim and car repairers have said they refuse to do repairs from those insurers even if they are an authorised repairer as the companies wont pay them enough.
     
  9. justine77

    justine77 Well-Known Member

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    thanks for that. i didnt notice your cmpany when going on comparethemarket.com
    i've stayed with big companies racv and aami becasue i've been scared to change but i pay so much when i could save so much every year and pay half, but paying half isnt useful if they wont be helpful in the situation where i might need to make a rare claim. in 30 years i've only made one claim on my house insurance. not many on car either but i like to know it will be easy if i did have to make a claim and what i'm reading online or hearing from smash repairers it doesnt sound like it would be easy at all.
     
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  10. Dan Donoghue

    Dan Donoghue Well-Known Member

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    NRMA are usually one of the most expensive but in my opinion it's worth it and the discounts stack up the longer you are with them and the more policies you have with them.
     
  11. mikey7

    mikey7 Well-Known Member

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    I know people who have used Real, Coles and Woolies insurance.. avoid them like the plague. I haven't heard a single good story about them.

    I use Progressive for our cars. They were the cheapest by a longshot, and a good mate of mine has claimed through them a few times with no issues at all. They were even cheaper than Budget Direct by 40%. But.. they do put the premium up and agreed value down every year (though I experienced the same with NRMA).
     
  12. Fargo

    Fargo Well-Known Member

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    It depends on the policy, most now will only pay market value, the insurance premium is calculated on that, A new $13,000 car can cost more than a second hand car you buy for 7k which is deemed by the guide they use, to have a market value of $13k. You would have rocks in your to pay more for insurance than the value of the car. It is amazing though the number of people who don't review and adjust the insured value , and renew the insurance at the same value the car had before it was driven out of the show room giving insurance companies a big bonus for nothing. Obviously Justine you are not reviewing and adjusting your insured value on your car or you premiums would be getting cheaper. Suncorp are one of the worst payers and will spend $20k in lawyers fees trying to avoid paying minor 2k claims that they have no hope of winning.
     
  13. wylie

    wylie Moderator Staff Member

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    All our insurance is with Youi. We get good discounts and have had two vehicle claims and one storm damage claim on an IP. They made it smooth and easy.

    One thing to watch is with some (cheaper?) companies a driver who isn’t listed may not be covered at all. Most seem to cover unlisted drivers and will hit them up for a very high extra excess, but some don't cover unlisted drivers at all. Scary.
     
  14. justine77

    justine77 Well-Known Member

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    thank you for all that information. re car or house insurances prices and which will do the right thing in a claim.


    for car insurance a few repairers told me they found these ones easy to deal with
    cgu 96018222
    bupa 131243
    gio 131010
    blue zebra
    vero

    my car insurance does put up premium yet lower cost every year
    my house insurance does replacement value which is similar price to if building was valued at a500000

    if i do various different contents it doesnt seem to make a big dent on the price eg 20000 difference in contents might bring price down $80 from a very expensive house and contents price when everything is pretty basic .
     
  15. Dan Donoghue

    Dan Donoghue Well-Known Member

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    There are some nice little addons too, our house insurance includes fusion burnout (motors in aircon, pool pump etc) also includes a certain value of away from home so if we go out and drop a camera off the pier or something then it's covered.

    Make sure you read through all the inclusions with a fine tooth comb.
     
  16. KateSydney

    KateSydney Well-Known Member

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    Justine not all companies operate in every state of Australia. From you mentioning RACV that tells me you must be in Victoria. In that case NRMA Insurance is not available to you.

    Compare The Market doesn't compare some of the big companies because they won't pay for the service. Last time I looked they weren't recommending/comparing AAMI either, or GIO.

    Compare the Market used to be (maybe still is?) owned by BHL which owns Auto & General which owns Budget Direct.

    It's a business not a service to you the consumer.
     
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  17. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    Not really! Comprehensive insurance covers you AND the other car / building / power pole you have an altercation with. You might only have a $3K car that costs that much to insure but what if you run into a Rolls Royce and it is your fault?
     
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  18. kierank

    kierank Well-Known Member

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    Choice magazine recently did comparisons for car and home insurance.

    We changed our home insurance over to St George Bank (from RACQ) and our car insurance over to NAB (from NMRA), based on their comparisons and recommendations.
     
  19. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Did a comparison of our GIO with YOUI and the quote was 60% of what we pay. Then I noticed it was market value but GIO is agreed value. I did like for like comparison and YOUI almost doubled. Had me questioning what they think the market value is !!

    NRMA has a way of dealing with occasional younger drivers I like. Dont have to be named but when they do they extra premium is negligible and with no claims bonus etc it slashes extra cost. Not naming them mean a hefty age and unnamed driver premium. No other insurer I have seen seems as generous
     
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