House Insurance - Swapping Providers Worth It?

Mkh198 on 02/12/2019 - 07:38
Last edited 04/12/2019 - 15:53 by 2 other users

Hi everyone,
Received our home and contents insurance renewal in the mail again from Suncorp. Rung up, complained about price and had an extra discount applied (which I do every year).

Now it seems like these insurance companies just want to get new customers in and then after a year don’t look after their existing customers. I did a quote with AAMI for the exact same home and contents insurance details and it was $300 lower for the year.

Every 2 years or so I switch my car insurance between Suncorp and AAMI and end up saving a huge amount when they offer their new member discount. Does anyone do the same with home and contents? Switch between 'comparable reputable' insurance providers every few years to get a big discount as new customer?

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  try2bhelpful on 02/12/2019 - 07:48

  +1

  You should always do the compare before renewing. The main problem is knowing what people are going to be like when you try to make a claim. Anyone can be cheap if they don’t pay out. My other half’s brother had terrible experiences with AAMI trying to claim on car insurance. That was a few years ago, and they may have changed since then, but I try to read online reviews as well.

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    timthetoolman on 02/12/2019 - 08:02

    I had a claim with them about 4 years ago through our contents insurance and they were an absolute dream to deal with. May have been different with a car accident however.

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  [Deactivated] on 02/12/2019 - 08:06

  +2

  NO, after having a $65K house claim (water pipe burst in house) and similar in contents and car claims over the years i stick with NRMA. I know how good they are when i need to claim. That's when you find out how good your insurance company is not by how cheap the policy is.

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    87percent on 02/12/2019 - 12:23

    I agree

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  boomramada on 02/12/2019 - 15:04

  There used to be big difference between new policy vs renewal, even within the same insure. But these days insurance companies catch up with it. When switching covers, make sure what's in PDS almost matches.

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  Mkh198 on 02/12/2019 - 20:53

  So if the PDS’s were the same then would there be any detriment swapping every two years?

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  Danstar on 03/12/2019 - 08:23

  Yep. Ring around. My Dad car insurance came in the mail and literally doubled. I did some quotes for him online and saved him a few hundred dollars.

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  Throsby Waters on 15/05/2020 - 10:41

  Just had a 25% increase this year, so I looked around and found something that saved me an extra 25% for the same level of cover - ALLIANZ