House Insurance - What Happens if I Go over Temporary Accommodation Limit?

OfficerBarbrady on 10/05/2024 - 05:12

House was flooded a few months ago. Insurance premium covers temporary rental for 10% of the policy. As this is coming to an end just wondering what will happen and if anyone has been in the situation before?

We were never told how much the accommodation was as they found it for us and we never thought it was going to be a problem. Turns out they use another company to source the accommodation which adds about 20% to the price. As well as this they sure have taken their sweet time, seems like they have no accountability with timeframes.

I've tried asking the insurance company but their reply is we'll get back to you, I'm not sure or why don't you find something cheaper 🤔.

Just wondering if this has happened to anyone and what the outcome was?

Thank you.

General Discussion Home Insurance Insurance

Comments

  • screensaver on 10/05/2024 - 05:52
    +2

    There is an insurance complaints person, like an ombudsman, may be called AFCA. . Also leave reviews of your experience, at Product Review etc

  • P5SEQ on 10/05/2024 - 09:48

    We are having the same issues since the 2023 xmas storm. No communication around requirements, and we have been in overpriced hotels since January that they assigned us.
    They have just given us under two weeks to find a rental that they will cover for up to 6 months on an up to 9-month repair estimate.
    We still have to apply as regular tenants with no rental history or references. In the worst rental crisis ever.
    After that, we have to pay for it ourselves despite them having taken over four months just to finish the assessments.
    And power, water, internet, bond cleaning etc is not included.
    Oh, and I have to take out extra insurance on the rental as they won't cover that on my existing policy!

    Despite being fully insured, I estimate around $10k+ in costs they will not cover.
    Lucky I'm with AAMI…

    • OfficerBarbrady on 10/05/2024 - 10:13

      Good to know it's not just me but also bad to know. It took 6 weeks for the hygienist to rock up to do some tests. I feel like they can take their time without any repercussions.

  • Darayus on 10/05/2024 - 09:54

    AAMI insurance sounds excellent till you don't make the claim. When a claim arises lots of exclusions pops out. Saying with my experience.

  • barge-in hunter on 10/05/2024 - 10:32

    The unfortunate truth is that with the building industry the way it is, insurance policies are leaving lots of people under-insured - like in situations like this. It really sucks, and must be super frustrating.

    Parents in law had a similar situation; had to raise a complaint to the insurance company about the processing time-frame. It helped a little, but not much. Here are a few steps that might help speed things up:
    1. request a formal escalation/complain to be raised internally, based on a "longer than average claim settlement"
    2. be ready to deal with their escalations team - be very clear that you will lodge a complaint with the Insurance ombudsmen if the situation isn't dealt with to your satisfaction… but you'll need some realistic expectations. They won't be able to magically find trades and have everything completed within a month.
    3. lodge your complaint with the ombudsmen. The insurance company will be charged a "complaint lodgement fee" (this is how the industry ombudsmen is funded) - and have a financial incentive to clear your claim before they are fined any further.

    • OfficerBarbrady on 10/05/2024 - 11:41

      Didnt want to go the ombudsman route yet. Will try an eternal escalation, didnt know i could do that. Cheers

      • barge-in hunter on 10/05/2024 - 11:52

        Yeah, an internal escalation process has to exist in every insurance company. Starting that process is a pre-requisite for the ombudsmen to accept a complaint - but hopefully you don't need to get to that point.

  • payless69 on 10/05/2024 - 12:12
    -2

    Tim is the coolest Premier this country ever had.

    Now be modern, be cool.

    Move to ultra cool Caloundra.

    Put up your own multi coloured tents and become the new cool California!!

    Show them Biden joker that Australia is now way more cool with more tents under bridges!

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