Which Ins Co do you use ?

[Patosan]

There have been several threads on Insurance, LL ins and brokers, people have in some cases shared their good or otherwise experiences. The LL insurance field is quite competitive recently so I thought it might be interesting to see just who we all use.

I suspect that in the past CGU and Terri Scheer pretty much had the market to themselves but feel that they may be losing market share recently due to Co like AAMI, NRMA and RACV.

Have fun

 

[redwing]

isn't Terri Scheer an agency that is underwritten by QBE or one of the big Companies?

Then again maybe most are..any ideas?

 

[Patosan]

isn't Terri Scheer an agency that is underwritten by QBE or one of the big Companies?

Then again maybe most are..any ideas?

It is my understanding that there are only a handful of underwriters but that's not who you call, contract with and claim thru.

It follows that many policies are underwritten by the same Co but written by numerous "brokers" ... the people we have to sign up with. Surprisingly though with same underwriter the various policies have have a huge range of benefits and premiums.

Bit like Telecom contracting out their landlines to a new start up telco yet the new guy can undercut Telecom on fees. This kind of thing appears in many areas of business.

Then there's the customer service !

I am a bit surprised by the poll results thus far, since recently I've read many glorious reports about people's experiences with AAMI ... yet so far that Co is lagging well behind CGU.

 

[Rixter]

Aon & Cgu are the same from my understanding....well thats what my Aon paperwork states with them being underwritten by Cgu.

 

[monoply]

Just took out some insurance with AAMI this week. Seemed a lot cheaper than CGU. A bit cheaper, and a better deal than RACV.

Cheers
mono

 

[Rixter]

Just took out some insurance with AAMI this week. Seemed a lot cheaper than CGU. A bit cheaper, and a better deal than RACV.

Cheers
mono

Mono,

Whats are you getting for your money & how much does it cost?

Can you specify your coverage level?

 

[monoply]

Hi Rixter

$220,000 Building insurance with Tenant Protection.
10 million public liabilty.

Cost $309 per year, with a $300 excess.

Cheers
mono

 

[Rixter]

Hi Rixter

$220,000 Building insurance with Tenant Protection.
10 million public liabilty.

Cost $309 per year, with a $300 excess.

Cheers
mono

Thanks mono. I have AON Landlord Plus protection. $220 nil excess, with $15M public liability.

 

[Patosan]

G'day Rixter and Monopoly,

Got quote from Aon (CGU) with 100 excess no option ... approx $740-
AAMI with 300 excess ... quoted $433
RACV with 300 excess ... quoted $386
These are for 230k house, up to 10k contents & LL cover in Keilor East, Melb.

I'm really surprised by your your quote of $309 ... that's cheap.
Then Rixter's for $220 with no excess ... is ridiculously cheap !

There seems to be a fair degree of variation in quotes, perhaps some Co give different weightings for suburbs.
How do others' quotes stack up ?

 

[monoply]

Sure does seem to be a large degree of variation.

Dont think we tried AON.

Only tried CGU, RACV, and AAMI.

AAMI treated us as rating one, even though we had no other policies with them, which possibly helps.

RACV would not give any discounts, even though we have other policies with them, in our personal names (insurance is for company name).

Cheers
mono

 

[Patosan]

Sure does seem to be a large degree of variation.
RACV would not give any discounts, even though we have other policies with them, in our personal names (insurance is for company name).
mono

RACV will add 15% if you use your Co name, thus I used my name since I'm acting on behalf of the trustee Co as director.
Not sure about other Ins Co on this point ?

What are others' experiences with using Co names as "the insured" ?

Does anyone see a problem using a director's name as "the insured" inplace of the trustee Co name ?

Have a good one
Patrick

 

[Rixter]

I'm really surprised by your your quote of $309 ... that's cheap.
Then Rixter's for $220 with no excess ... is ridiculously cheap !

AON Property One is the name of the Policy.- Theyre based in Melb.
Sorry excess was $200. You also have the option of varying your contents between $10k -$50k.

I chose $50k for that price.

Cheers

 

[Patosan]

AON Property One is the name of the Policy.- Theyre based in Melb.
Sorry excess was $200. You also have the option of varying your contents between $10k -$50k.

I chose $50k for that price.

Cheers

Aon couldn't be any more open about being a broker for CGU, their email contact is [email protected]

Rixter what are suburb / postcode and replace value of your insured IP ?
... I must do some checking with other Co, for curiousity sake.

 

[Rixter]

Aon couldn't be any more open about being a broker for CGU, their email contact is [email protected]

Rixter what are suburb / postcode and replace value of your insured IP ?
... I must do some checking with other Co, for curiousity sake.

Patosan I have property spread over the Brisbane & Perth metro areas.
I'm insured for $50k contents, Loss of Rent, Court legals, damage, vandalism, public liability.

Heres their link - http://www.personalinsurance.aon.com.au/landlords.htm

Cheers