Are their any Hidden Problems ?.

[issatree]

Hi All,
We have just received our Annual Insurances, for both our Vehicles & Home.
Then I was told to look up APIA. Aust. Penseniors Insurance.
WOW, what a difference. On the Vehicles, the money was halved.
On Home & Contents, we would save almost $1000 & We lifted it by $90000 all up.
How is this possible.
Am I missing something.
Are they possibly reneging on some claims or you don't get the full amount, if you have to claim on anything.
I would really like to know of some answers.

[rhancock]

Plenty of folks around the country would say to check the flood cover...

I know we cut the premium on our car insurance by increasing the excess to $600 instead of $300, so it'd be worth checking that.

[_fly_]

Don't hold me to it but I think their property is done back to AAMI.
I had AAMI and then rang APIA for a quote (exactly the same).
They don't cover some of the other bits like windscreens on cars.
Fridge motors are not covered (but who needs it) if fridge dies you just buy a new one.) 1 broken Windows type of thing.
But if what you have gets totally wrecked Car or house gets burnt or robbed your ok.

[rhancock]

As always, Wikipedia has the answers. There are only a small number of insurance companies in Australia, but a lot of brands for different markets.

[issatree]

Hi Richard, Fly,
Don't really have to worry about flood cover, as we are on top of a hill, but I suppose the house could get flooded, if a tap sprung a leak.
Thanks for the wikipedia bit, never thought of that.
Suncorp, own APIA, CGU, AAMI, & the list goes on, but S/C do cover Flood.
I hope I don't have to use aami as they don't get to many ticks, so I've heard.
Where we had our car fixed at 1 stage, they weren't to happy to deal with them.
RACV, at least gave you a choice.
I still can't believe that apia could undercut the others by so much. Must be cutting corners somewhere, but all reports are really in their favour & speak highly of their service as well.

[Tonyz]

maybe its because their target market are more causious, careful etc
How many grey nimads drive hooned vehicles and allow all sorts of people into their houses.

Mind you they(grey nomads) are still a bloody menace of the roads with their vans, mobile homes etc.

[bsrlee]

Have had 2 claims in the time my home has been insured with them - one B&E, one car thru the fence - and have had no problems. With the fence, the assesor turned up at the time advised & was efficient & polite. I don't think they even bothered to send someone out for the B&E, just relied on the Police report.

[issatree]

Hi Tony,
Hey, Tony take it easy, you know there are a lot of People in their 60's who are Grey Nomads.
Have never had a Prob. with them at all.

brslee, that is good news. I take it that B&E is a Break & Enter.
I have now removed quite a few 1000's & our fee now has come down quite a bit, far better than the other CROWD.
What a rip off, they are.
They stuffed up our Shower something unbelievable. A 14 yr.old Student could have done a better job on our 2 claims, but will not entertain the 3rd. & fix THEIR MESS.
Great after the horse gets out, but should have gone to the Ombudsman.
Hope these are better to deal with.
Don't know what to do about our Shower now.

[Kidbee]

I often wonder if the Australian Pensioners Insurance Agency name is just a marketing thing designed to give the insured a ' warm and fuzzy ' feeling that being pensioners you will get special treatment.

In Buderim here we had a well publicised case of couple having their house slip down a steep slope during extended heavy rain. APIA rejected their initial claim and appeals and the poor people had a big fight on their hands. Eventually the ombudsman ruled in favour of the insured. This seems to indicate that APIA have the same cut and thrust policy to claims just as their counterparts.

The other thing to check out is flooding as I think it it is not termed flooding when a pipe bursts in your house and your carpet gets ruined.

[Sebastiaan56]

I often wonder if the Australian Pensioners Insurance Agency name is just a marketing thing designed to give the insured a ' warm and fuzzy ' feeling that being pensioners you will get special treatment.

Its called market segmentation. Some bright spark probably worked out that people reduce their cover as they retire and so the company was missing out on revenue. Given that most retirees dont have many dangerous factors in their lives they are easy money. You just have to get the marketing right and that includes the price point.

[Vernonv]

The other thing to check out is flooding as I think it it is not termed flooding when a pipe bursts in your house and your carpet gets ruined.

We don't have flood cover (live on the side of a hill) and during a big storm, run off water coming off the side of the hill entered our home and damaged carpets. It was covered by the insurer, as it was not classed as flood water (because the water didn't come from a flooded waterway).

It would still be worth getting clarification from your insurer.