House & Contents Insurance.

[ptrott]

We have been happily insured for the last 9 years by Aussie, who were using CGU.
The price was OK, and it cost no extra to pay by the month, which is good for us on low incomes.

For reasons unknown, Aussie are changing to "Real Insurance", (got a registered letter from John Symond yesterday to that effect).

I did a bit of Internet research on Real Insurance, and have decided, based on the results of that research, to look elsewhere.

I started my 'shopping around' with Allianz Ins., only to be told that because I had steel wall cladding on the exterior of my house, they could not insure me..... end of story. I asked for an explanation, but the rep. could offer none other than "That is our policy". (Steel roof is OK, but not walls, ?????)

So, rather than spend the next two days on the phone and internet, and still not be sure of what company is good or bad, I thought I might make this post in the hope that I might get some information on who has had good or bad experiences with what companies, and who seems to be offering good cover for a reasonable price.

Thanks in advance for sharing your experience

[old pete]

Hi Ptrott,

I don't want to comment specifically on your situation of wall cladding re insurance but speaking at the general level I think that all forumites who have a substantial investment in tools, machinery and timber, and possibly also WIP and stock who think that these items are covered under their household building and contents insurance policy need to just check that out with their insurer.

I think they will get a nasty shock as I did a few years back when i found the real cover for itemised values in those categories was next to nothing in terms of their replacement cost.

I've now got commercial cover only in place for loss due to fire starting from without the premises, the rest is just unaffordable. Far better to cover off the theft risks by investing the dough in fortressing the workshop.

There are also a hell of a lot of operational constraints re spray polishing, electrical isolation,thermal and smoke detectors, fire extinguishers, flammables storage, daily waste hygiene and the like. You couldn't operate a hobby workshop under the house without prejudicing your household cover under my commercial policy. ( My workshop is geographically separate from the domestic premises) ( I don't want a commercial policy but I couldn't get cover for sub commercial hobby activity otherwise)

Check out your situation folks. There's no room for complacency here on this one.


Sorry to be a Jonah.
Old Pete

[ptrott]

Interesting reading Old Pete, you make some good points.

I have come up against a couple of problems besides the "Tin Walls" issue too.

One is that the house is not connected to Mains Water. (We have a bore & pressure pump)

Another is that we are renovating at present.

The water issue is to some extent understandable, there are no fire hydrants in our street.

The "tin walls" is a complete mystery.

The renovations issue is a bit strange too. For contents I can understand it, but for building insurance it does not seem relevant.

[snapman007]

We've just renewed our policy with RACQ again. More than happy with the service we recieved from them when we've had to make a claim and their price is much lower than the other big companies we compared against.

Although I will have to check on the cover for machinery in the garage.

Cheers,
Paul

[nihilism]

I did the shop around about 12 months ago when we purchased this house and ended up going with ING

[old pete]

I think the 'tin walls' one is easy. It's about 4 minutes with a battery powered drill and a suitable socket installed to get off your first sheet of iron then it gets easier all the time!!

Cheers Old pete

Interesting reading Old Pete, you make some good points.

I have come up against a couple of problems besides the "Tin Walls" issue too.

One is that the house is not connected to Mains Water. (We have a bore & pressure pump)

Another is that we are renovating at present.

The water issue is to some extent understandable, there are no fire hydrants in our street.

The "tin walls" is a complete mystery.

The renovations issue is a bit strange too. For contents I can understand it, but for building insurance it does not seem relevant.

[jimbur]

I think the 'tin walls' one is easy. It's about 4 minutes with a battery powered drill and a suitable socket installed to get off your first sheet of iron then it gets easier all the time!!

Cheers Old pete

Are you talking breaking in or dismantling?
Many years ago we lived in a fibro house and a thief went through the walls with a garden spade. I reckon he'd have been in and gone in less than four minutes.
It wouldn't take much longer with a sledge-hammer to get into a brick veneer.
Nosy neighbours are better protection than any building code
Cheers,
Jim

[issatree]

Hi ptrott & all,
Our Insurance is through a broker & then to CGU.
Regarding Tools & Machinery, I was advised to Photograph everything in the Shed, Then put it on a CD, which I did. 88 Photos in all, & copied a couple of times.
It is different to your house Insurance, hard to explain.
The silly part of this is, if my Shed caught fire, & I lost everything, my Tools & Machinery are covered, but with our car in the same Shed is also lost, it is not covered.
Now there is confusion.
Regards,
issatree.

[ptrott]

Thanks for all the info people. RACQ no use in W.A. ING too expensive here.

I,m with you Jim. I had weatherboard walls, 10mm thin and not so sound. I was astonished at how easy it was to get them off with a little crow-bar. It would be far more time consuming to remove 8 metre long sheets of steel, after first removing the jarrah dado. (My steel is fitted horizontal)

The thing is, I was not after contents insurance, only building cover, so could the reason be that the steel sheeting might get stolen?? )

AAMI is looking really good at this stage. Right price & good cover. CGU too expensive issatree.

[nihilism]

Maybe it's as simple as no one at the insurance company has sat down and worked out the maths taking into account any situations where the house may be more at risk by having steel cladding etc. And that the people selling you the insurance don't have a tick box on their screen that says metal cladding so they aren't allowed to sell you a policy.

[issatree]

Hi ptrott again,
As you said CGU may be a bit dearer, but we have never had a claim refused yet & we have had a few, & up around the $1000 mark, most times.
So Maybe you can get the same with cheaper Insurance, who knows.
These days, you have to specify almost everything, or it is not covered.
With our Vehicles we pay that extra to wipe out that 1st. $500 you have to find, & that has been a God Send.
I hope you will tell us who you eventually go for.
Regards,
issatree

[ptrott]

Hi ptrott again,
I hope you will tell us who you eventually go for.
Regards,
issatree

Well, I eventually decided on AAMI Home & Contents. Not only are they very competitive on price, they also insure the other buildings on the property for no extra cost. I emailed 3 times to get the point clarified because I could scarcely believe it.

What it amounts to is this, House + $500 garden shed = premium $300
House + $30,000 shed (as in my case) = premium $300

They are also the top recommended company for W.A. by Canex