Your claims experience with insurance

[bubbleroo]

Update :-

Since the last time I wrote on this forum, there were still no answer from CGU regarding my carpet calculation so I rang her yesterday requesting (nicely) for a response & she was nice enough to give me the difference (40-25sqm = 15, 15 x $56.46 = $846.90). Got to be happy with that !

As for the shocking excesses, I've learnt there is not much one could do but sadly accept, so I am praying everyday for my IP & for me NOT to have to make an insurance claim.

I have moved from CGU to Terri Scheer

 

[handyandy]

Hi Danny

Do you have any experience with EBM as reading through their policy details I found the following

"WILL cover Accidental Damage up to $50,000, as well as Malicious Damage by tenants. Unlike many policies Accidental Damage applies to the building as well as the contents."

Seems very interesting as generally all damage I have suffered has been Accidental Damage rather than Malicious.

How have other people found insurance companies reaction to claims where they have tried to redefine the type of damage. Because if the statement above applies then insurance companies would certainly be trying the squirm out of claims .

Cheers

 

[Mal P]

That's a good point Andy. I'm still looking for someone who has made a claim with EBM before moving over... they do seem to have a reasonable policy.

Sincerely,
Mal

 

[Kipps]

Elders Insurance Slowest ever

I have a lot of mine with Elders Insurance. Can't say how good they are with a claim, as I haven't had one yet, but the premiums aren't that bad.

Skater, I have been waiting 7 weeks for Elders to pay a claim for approx $15K for malicious damage they cover and I was insured for on my investment in Mid North Coast. Last contact yesterday they claimed they had just received the claim form. Prior to this the assessor said they had a break in at HO in S.A. and the computors were stolen, next time it was the paperwork had been lost in H.O. Be very carefull with your choice. They send an assessor along after you call them and it seems her job to counter anything that I was to be covered for. After all, Elders do pay her fees don't they. I will get rid of them when all is sorted. Can anybody help me with where I can go to have a dispute rectified with this problem. Is there an Insurance Ombudsman or do I go legal? Any help would be much appreciated. New kitchen, New Carpet. New Paint, 9 new internal doors, 7 door knobs, glass broken, curtains stolen, etc. The list goes on.
Kipps

 

[Kipps]

Kipps

I use AON for most of my properties. I've had a few claims over the years (one that sticks out is a tenant punching holes in the walls, etc) but AON paid up very quickly. By contrast I used to be with Elders and they needed a small claims court judgement (took me months) before they paid up.

Also have a policy with Terri Scheer. They only insure properties managed by licensed real estate agents, though.

Hi alexlee,
Looks like my Elders claim is going the same as yours did after 7 weeks nothing on $15K claim. Can you help with how you go about the small claims judgement please.
Kipps

 

[marg4000]

We are with Terri Scheer.

I phoned about a potential claim on an IP when tenants had the whole property littered with "junk" including car bodies and an old caravan

I was told that their policy does not cover removal of rubbish and the bond certainly would not have covered the removal of all the stuff.

Thankfully the tenants took it all with them when we denied lease renewal, and even left the property clean, another pleasant surprise.
Marg