Forum Home
PC World Chat
Thread ID: 108772	2010-04-11 07:21:00	Experience with insurance providers	utopian201 (6245)	PC World Chat

Post ID	Timestamp	Content	User
875171	2010-04-21 10:11:00	Profit must be down on contents insurance with all the fragile gadgets around that most people are none too careful with.	Greven (91)
875172	2010-04-21 14:21:00	Contents Insurance used to have a loss ratio of about 50% of premium income. Not many policies cover accidental damage, especially if the accident is caused by the insured, and those that do generallly do not feature budget premiums. Also these policies usually have a reasonable excess, that tends to eliminate small and frivolous claims. It is of note thatvoluntarily increasing excess is a way of reducing premiums to a more affordable level. In insurance there is a rule of average - it works as follows. If you under insure your property, then it is taken that you are in part self insuring - ie taking on the risk your self. For example replacement or market value $100,000, and insured value $50,000, then you have shouldered 50% of the risk. You have a claimable loss of $20,000 and the Insurer will pay out $10,000 - it follows. It is imprudent to under insure, if you can't afford the premium, then ask about a larger excess - an excess of $1,000 could halve the premium. There is another rule of locks and keys: if the locks are not engaged and the keys not kept in a secure place and you are robbed, then the insurer may refuse to meet a claim. Normally there must be evidence of forced entry	KenESmith (6287)
875173	2010-04-22 12:44:00	Hi Ken I see you are in Brisbane, so things may be different there, however it's worth noting that: Average is very very rare in domestic policies in NZ, and even then, if so it has to be agreed on by both parties. Ref - Insurance Law Reform Act 1985 Sec 16 Also, an insurer would have to prove gross negligence to deny a claim due to a home not being locked or keys being left insecure. I have never investigated or adjusted a loss for a burglary that has been declined as a result of leaving a house accidentally unlocked. You do need to demonstrate due care though, but it's fortunate that insurance covers the act of stupidity!	Jester (13)
875174	2010-04-22 22:50:00	The damn problem with insurance premiums is that they're raised to a limit whereby they cover the costs of dishonest claims. A while back I was chatting with a collegue who actually boasted, that after a burglary, they claimed for an expensive Rolex watch, which wasn't in fact stolen. Grr	Greg (193)
875175	2010-04-23 08:37:00	The damn problem with insurance premiums is that they're raised to a limit whereby they cover the costs of dishonest claims. A while back I was chatting with a collegue who actually boasted, that after a burglary, they claimed for an expensive Rolex watch, which wasn't in fact stolen. Grr In most cases it is too difficult & expensive to prove a claim is dishonest. I see a lot of claims at work that I think are probably dishonest, but usually there is no way to prove it so we can't say anything.	Greven (91)
875176	2010-04-28 06:24:00	Had one of our cars broken into with the bonnet opened . Dunno why they stopped then and it was a cheap car, prob won't pass the WOF and valued less than $700 :lol: AMI just okayed it on the phone, the first person the phone was v polite, the 2nd one was a bit rushed . It appears now in the man cities, the Police do not investigate or visit you . They take your details over the phone and email you the police incident summary report and you just go ahead and report it to the insurance company . AMI just approved the glass repair on the phone, there was no other damage and they rang Smith and Smith, can insurers have their own repairer :rolleyes: I thought one could go to where one wanted to . . . Anyhow, with an hour or two S&S rang us and asked us to drive it there and a replacement was done on the spot .	Nomad (952)
1 2 3 4