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| Thread ID: 108772 | 2010-04-11 07:21:00 | Experience with insurance providers | utopian201 (6245) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 875161 | 2010-04-13 12:03:00 | Been with Tower for several years but recently got flyer from Vero just before renewal. Quoted me 25% less than Tower on House/Contents so I've switched. Martynz |
martynz (5445) | ||
| 875162 | 2010-04-13 19:45:00 | Have had dealings with both State/Tower and AMI through work, identical scenarios, old people had dishwasher leaks guess who paid out and who didn't yes AMI paid out Tower didn't as I said identical scenario | gary67 (56) | ||
| 875163 | 2010-04-14 02:23:00 | Thought Vero was commercial ... :) NZI too perhaps. AMP? Got their life insurance thou .. |
Nomad (952) | ||
| 875164 | 2010-04-14 23:13:00 | Endorse AMI ,they have been good, agree tend to be a bit dearer but you get what you pay for generally | bonzo29 (2348) | ||
| 875165 | 2010-04-19 21:52:00 | I'm happy with AMI. Except... they have some weird pricing policies which make me think I'm paying way too much. I'll reconsider next year. Hi, State is not part of TOWER. State is owned by IAG who also own Vero, NZI & Lantern Insurance. |
debra.chantry (15721) | ||
| 875166 | 2010-04-19 21:53:00 | Oops- sorry not Vero - just State, NZI & Lantern Insurance :) | debra.chantry (15721) | ||
| 875167 | 2010-04-19 21:58:00 | Have had dealings with both State/Tower and AMI through work, identical scenarios, old people had dishwasher leaks guess who paid out and who didn't yes AMI paid out Tower didn't as I said identical scenario PLEASE NOTE: State is a separate company to TOWER. |
debra.chantry (15721) | ||
| 875168 | 2010-04-19 22:54:00 | Check out the latest Consumer Mag. which rates insurance company's. You can buy it from your local book store. :) |
Trev (427) | ||
| 875169 | 2010-04-20 05:24:00 | State Insurance were taken over by Norwich Union. When State and Tower(Government Life) were both NZ Govt owned insurance companies Government Life handled Life Insurance but their agents also sold State Fire and General Insurance. Tower if it is now selling Fire and General Insurance theay will probably be selling some other insurers products under their own name - somehow I doubt that they launched a new General Insurance Company. AMP at one stage had their own Fire and General Insurance under the AMP name. This was sold off in the early nineties to a major general Insurer, although Policies are still written by AMP Agents under the AMP Fire and General name. When buying insurance you tend to get what you pay for - with Motor insurance, generally the companies do not make a profit- the loss ratio is as a rule over 75% of premium income, and expenses and commissions cut out about 25% of premium income - ie motor insurance is a service, as part of a full insurance package. House insurance is the best money earner with claims running about 5% of premium income - home contents calims used to cost about 50% of premium income- don't know what the current figures are. It is not rocket science to work out that companies that seriously discount premiums don't as a rule treat claims as fairly as they should. When buying insurance there are a couple of simple rules 1. Look at the cover - What is insured? What is excluded? 2. Check the fine print, find out about the traps before you fall in. 3. What is the Insurers track record in meeting claims fairly - ie cheap substandard repairs, high reject rate of fair honest claims - you get what you pay for. The purpose of insuring should be to get an honest claim fairly met - somewhat unlikely with a cut price premium ( The Insurance Companies are in business to make money, not provide a social service at their shareholders expense.) |
KenESmith (6287) | ||
| 875170 | 2010-04-20 09:21:00 | FYI too - you can find competing insurers share more than you thought: IAG (Insurance Australia Group) = State and NZI Vero Group = Vero, AMP, AA, Autosure, Mariner Tower Insurance Limited = Tower, Fintel Lumley Business Solutions = Lumley, Westpac and most banks offer policies underwritten by all of the above. To be honest, sometimes the banks' policy wordings, or brokers' wordings can offer more cover, particularly with gradual damage type events. As said earlier, read and understand the policy you are entering into :) |
Jester (13) | ||
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