As a pensioner, I'm always looking to save a dollar. Used to insured with Wesfarmers but moved to Youi and saved a considerable amount on premiums. When I cancelled with Wesfarmers they came back with a new offer that actually matched Youi although I hadn't told them how much Youi was charging. My question to Wesfarmers was, well if you can offer me that deal now, why didn't you offer it in the first place? They couldn't answer of course.
Like davent, all our banking and loans are with Commbank so I investigated what they had to offer as our local bank girl had suggested that they could also do very good insurance deals. So I asked for quotes on my policies - House & Contents and two cars. Their offer was too good to knock back so went with them. Once again when I notified Youi they offered me lower premiums. again they could not answer why they hadn't offered them in the first place.
So got my renewal notices a little while back and nearly did a double back flip at the increases. The house & contents had gone up by over 11.5%. The insured value had gone up 6% fair enough but I thought that was a bit steep. My wife's car had also gone by about 12%. My knockabout ute was the same but that is only 3rd party property. And inflation is what, less than 3%.
Well I rang them and debated why the house insurance had gone up so much when we'd had no claims etc. No real answer, but the girl immediately gave me a discount which brought the premium back to about inflation rate. Interestingly, she could offer me this discount without having to refer to her supervisor.
Then I had a go about the car, like it was a year older and it was insured for market value, and it was not not a collectors piece that would appreciate in value, and that we had never had any claims. Yep you guessed it, another discount straight off with no reference to her boss. Again, back to inflation rate.
So really, if they can get away with it they will. They even have built in fall back positions if someone complains. And like the previous two companies, they can come lower when they think they will lose custom. I don't trust any of them. Never have and never will. But if you understand how they operate, that is to make as much money as they can out of you, then you can demand a better deal. Never accept their first offer and do your homework.
Like davent, all our banking and loans are with Commbank so I investigated what they had to offer as our local bank girl had suggested that they could also do very good insurance deals. So I asked for quotes on my policies - House & Contents and two cars. Their offer was too good to knock back so went with them. Once again when I notified Youi they offered me lower premiums. again they could not answer why they hadn't offered them in the first place.
So got my renewal notices a little while back and nearly did a double back flip at the increases. The house & contents had gone up by over 11.5%. The insured value had gone up 6% fair enough but I thought that was a bit steep. My wife's car had also gone by about 12%. My knockabout ute was the same but that is only 3rd party property. And inflation is what, less than 3%.
Well I rang them and debated why the house insurance had gone up so much when we'd had no claims etc. No real answer, but the girl immediately gave me a discount which brought the premium back to about inflation rate. Interestingly, she could offer me this discount without having to refer to her supervisor.
Then I had a go about the car, like it was a year older and it was insured for market value, and it was not not a collectors piece that would appreciate in value, and that we had never had any claims. Yep you guessed it, another discount straight off with no reference to her boss. Again, back to inflation rate.
So really, if they can get away with it they will. They even have built in fall back positions if someone complains. And like the previous two companies, they can come lower when they think they will lose custom. I don't trust any of them. Never have and never will. But if you understand how they operate, that is to make as much money as they can out of you, then you can demand a better deal. Never accept their first offer and do your homework.
