Insurance

[WebBoard]

From: Mike .


Insurance company rip off - watch out!
From: Roger Sager
Date: 23 Nov 2000
Time: 06:50:56

Just a comment to new and potential property investors. I purchased a property in south Queensland and insured it with Swann Insurance. I would recommend everyone to avoid them, as its the same old same old. Pay your premiums and make a claim and the insurance company runs for cover. They make excuses and duck and weave.

So read your policy very, very carefully...make sure you read the full insurance note before committing, as in my case the Swann Insurance did not live up to their half of the bargain. I submited a valid claim for $1,200 odd and the Swann paid me back a silly $180. So be warned. And as a last comment...avoid Swann Insurance (thefts) for Landlord insurance needs.

For those interested in my unfortunate drama...email me on [email protected]

 

[WebBoard]

The Wife

Reply: 1
From: Mike .


Re: Insurance company rip off - watch out!
From: The Wife
Date: 23 Nov 2000
Time: 07:02:21

Hi Roger, I dont think its enough to just say DONT USE XYZ!!!

Can you give us some more details? If an insurance company doesnt hold up their end of a bargain, you should have all the paperwork there in front of you, take it to the relevent people and MAKE them do what they said. Or was it an oversight on your behalf?

Can you give us specifics so that we KNOW if any other insurance agency tries to pull the deal on one of us?

Did a tenant trash your place and the Insurance people didnt pick up the bill? Did they suddenley say that the excess was a thousand dollars? Is that written down in your paperwork?

More details please, we would like to know if that insurance Co. is really that bad, or your just an angry landlord who didnt read the fineprint?...)

Cheers TW

 

[WebBoard]

Roger Sager

Reply: 1.1
From: Mike .


Re: Insurance company rip off - watch out!
From: Roger Sager
Date: 27 Nov 2000
Time: 09:00:49

The following is more detail on my previous comments about being ripped off by Swann Insurance.

A tenant did a runner near the end of the lease, and there are a bundle of expenses incurred by the agent in re-letting the property. I.E. loss of rental, re-letting fee, advertisement costs, some broken damages, cleaning cost, etc. The net was a claim for $1,200 odd. The 1 page glossary make no mention of excess but I find out they Swann wll not pay the 1st 4 weeks of rental and the 1st $100 as well as other excuses.

A word of advise to all before you sign...get the insurance company to send you a detailed policy to read, then compare so you'll understand what you are in for or NOT.

I now know why Swann hides these facts from their advertisement...to sting you when you make a claim! I will not use these fools again for any other insurance.

Cheers...Roger

 

[WebBoard]

Brent H

Reply: 1.1.1
From: Mike .


Re: Insurance company rip off - watch out!
From: Brent H
Date: 23 Nov 2000
Time: 20:55:21

Mmm, I'd be careful what I said.

As far as my understanding of Libel and Slander laws go, I'm pretty sure that in Australia, (unlike in the USA,) you can be sued even if your facts are 100% correct.

CYA 'round

[email protected]

P.S. TW- Exams are over! YAY!

 

[WebBoard]

Anonymous Jim

Reply: 1.1.1.1
From: Mike .


Re: Insurance company rip off - watch out!
From: Anonymous Jim
Date: 24 Nov 2000
Time: 16:45:54

Actually, I've had problems with Swann insurance before. Not that it really inconvenienced me, but their systems were a bit flakey when I had car insurance with them.

They mistakenly entered the wrong "driver rating" level, they rolled back their database at some point and lost my new address, they sent me reminders too late, etc. Basically, I had to ring them every year about some mistake that their computer system had made.

They were reasonably priced, but not worth the hassle in the end.

Anonymous Jim