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Zaylah 
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Joined: 10 December 2009
Location: Tawa, Wellington
Points: 500
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 Topic: Insurance?
Posted: 20 May 2010 at 2:06pm |
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I really need to get on to sorting out insurance and I don't really know where to start to find out who to choose. We currently just have insurance with the bank which we got our mortgage with and I've been so naughty and haven't changed it! I'm sure we must be paying quite high.
Anyway, is there an easy way to work out who has better rates? (like a mortgage broker but for insurance?) or do I need to just go through online and figure it all out? (I did that with the mortgage anyway rather than using a broker, so I can do it easy enough, just will take longer!)
Just thought I'd ask before I start researching into rates!
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.Mel
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Joined: 14 January 2007
Location: Orewa
Points: 9078
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Posted: 20 May 2010 at 2:21pm |
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I just went online and got online quotes from each of the companies I was interested in.
I took into account, what benefits we would get eg; no claims, discount on premiums and of course cost.
Then once we'd gone over them together we chose the company who gave us the better deal and that was AA. We've been with them since my daughter was a baby, and have had no problems.
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clover
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Joined: 21 July 2008
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Posted: 20 May 2010 at 2:29pm |
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What kind of insurance, home, contents, car or personal like life and income?
I've been shopping around for our home & contents and car and Tower is coming out the cheapest by some margin. We're currently with State who have provided us with great service but are not proving to be the cheapest.
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MamaT
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Joined: 07 November 2008
Location: Nelson
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Posted: 20 May 2010 at 3:37pm |
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You can get an insurance broker. They work exactly like a mortgage broker
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HuntersMama
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Joined: 09 November 2008
Location: Auckland
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Posted: 20 May 2010 at 4:05pm |
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I got an insurance broker who does all the homework for you. I used Debs from Insurance People and she was great and found us policies where we pay way less than before.
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clover
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Joined: 21 July 2008
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Posted: 20 May 2010 at 4:13pm |
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By all means get a broker but do shop around yourself as well, brokers are all tied to certain providers and will push ones they get better commissions from.
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minik8e
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Joined: 01 January 1900
Location: Taranaki
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Posted: 20 May 2010 at 5:00pm |
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summerlamb - look into their claims payout history/reputation as well - Tower doesn't have a great reputation for their claim payouts.
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KiwiL
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Joined: 29 December 2006
Location: Wellington, NZ
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Posted: 20 May 2010 at 5:06pm |
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Yes, and always make sure you check what you're covered for.
A lot of the cheaper insurance companies cover you for a lot less and you might fall short at claim time. A big difference is often found in the new for old type components of the policies.
The old adage is often true - you get what you pay for.
Definately shop around, but be careful going for just the cheapest option. One way to look at it is thinking "what brand of spaghetti do I buy"? Do you just go for the cheapest, or do you look at what ones have lots of spaghetti and good tomato sauce? Sometimes insurance can be all sauce and no spaghetti!!
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lizzle
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Joined: 01 January 1900
Location: New Zealand
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Posted: 20 May 2010 at 5:35pm |
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we have AMI for house, car and contents, and ING for ou8r life, income protection and trauma. so far, great...in saying that haven't claimed from ING yet (touch wood)
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ALittleLoopy
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Joined: 04 July 2008
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Posted: 20 May 2010 at 6:06pm |
ami have been bad in the past for payouts and AA have tried it on before too...we are with state for car and contents now (always had contents) Dh works for them now at the call centers so i can get some info for you if you like??
different companies have completely different cover though so depends what you need and the value as well!
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lizzle
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Location: New Zealand
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Posted: 20 May 2010 at 8:01pm |
 BAMN08 wrote:
ami have been bad in the past for payouts |
i've actually found them really good.
We have claimed numerous times
1 - hosue broken into
2 - cat bumped the plug out of my freezer
3 - house broken into again (they turned up to assess it though)
4 - some guy crashed into me
That has all been in the last two and a half years. everytime we have been paid out quickly and easily.
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pikelets
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Joined: 08 April 2007
Location: Auckland
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Posted: 20 May 2010 at 8:47pm |
We use state for our insurance and they have been great when we claimed for contents and car.
Definately compare what is included and their rating.
love the spaghetti comparison kiwlaurie 
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MrsMojo
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Joined: 18 March 2008
Location: Wellington
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Posted: 20 May 2010 at 8:55pm |
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If you are looking at taking out life cover or increasing your current cover make sure it's done before the 30th June as from 1st July tax changes mean premiums are increasing by about 20% but any existing insurances are immune to the new tax for 5 years.
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ALittleLoopy
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Posted: 20 May 2010 at 8:57pm |
mrsMojo, thanks for that, been trying to get DH onto life insurance at work too, will get him onto it asap!
pikelets- i agree check their ratings it tells you their ability to pay out and the rates at which they go through with paying out claims...i hear DH tell people on calls when they get quotes/new policies haha
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bext1
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Joined: 03 September 2008
Location: Waimauku
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Posted: 20 May 2010 at 10:34pm |
Zaylah, you are probably best to see an insurance broker. That way they assess your needs, and will find you the correct policy.
Yes most do get commission, but they have to work hard for it!
Also, they will know how well they pay for claims etc. The cheapest option is not always best - especially at claims time.
I know there are a few companies out there that are cheap premiums, but they have a really bad claims payout and they will try to get out of claims using their wordings.
Here's a link that has brokers in the Wellington region.
There are some great broker houses down there.
Wellington Insurance Brokers
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clover
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Joined: 21 July 2008
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Posted: 21 May 2010 at 8:00am |
minik8e wrote:
summerlamb - look into their claims payout history/reputation as well - Tower doesn't have a great reputation for their claim payouts. |
Yip, that was my next step.
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Zaylah
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Joined: 10 December 2009
Location: Tawa, Wellington
Points: 500
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Posted: 21 May 2010 at 10:20am |
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Wow thanks everyone - not going to be as easy as I thought but that's ok - I'm meant to be 'resting' and can't stop cleaning/organising, at least while I'm sorting this out I have to sit down aye!
Thanks again everyone - you have all helped heaps.
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High9
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Joined: 14 July 2009
Location: North Island
Points: 6750
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Posted: 21 May 2010 at 10:20am |
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We are with State, they gave me the latest mac book pro because my cat pulled the old one off the dining table. Was all sorted within a week of it happening, However when my glasses broke and my camera because someone crushed my bag they didn't pay.
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mummyofprinces
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Joined: 10 February 2008
Location: Hibiscus Coast
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Posted: 21 May 2010 at 10:22am |
minik8e wrote:
summerlamb - look into their claims payout history/reputation as well - Tower doesn't have a great reputation for their claim payouts. |
Thats exactly what I was going to say.. lumley dont either!
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mummy_becks
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Joined: 01 January 1900
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Posted: 21 May 2010 at 12:11pm |
I am with State and even thou the price for us as gone up quite a bit this year I am still staying with them as we have a history with them.
I was also told you get what you pay for and I am hoping that when the tiem does come for us to claim that State will be good to us.
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I was a puree feeder, forward facing, cot sleeping, pram pushing kind of Mum... and my kids survived!
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Insurance?
