Home insurance premiums under spotlight as customers fight to overturn massive increases
1 month, 2 weeks ago

Home insurance premiums under spotlight as customers fight to overturn massive increases

ABC  

Canberra retiree Warren Vant was convinced Coles Insurance had made a terrible mistake. Mr Vant said he couldn't see a substantial difference between his case and the successful Suncorp claim, and claimed AFCA was rejecting "quite serious matters". Mr Vant believed he had a strong case because he owns a similar property next door which also had a landlord policy with Coles Insurance but its premium increase was only 49 per cent. Landlord believes insurance rise was 'price gouging' Tiffany Cestnik's insurance premiums were going to jump 175 per cent in one year. It also produced analysis which found existing customers were charged more than new customers, dubbed a "loyalty tax", and some insurers were quoting more than double the price for home insurance on identical properties.

Risk Case Price Cent Insurer Nsw His Case Insurance Premiums Price Gouging Home Insurance Iag Ms Kelly Professor Fels Fels Qbe Afca Joel Wilson Coles Insurance Vant Warren Vant Mr Vant Tiffany Cestnik  insurance  premiums  premium  case  afca  fight  massive  cent  spotlight  overturn  mr  increases  customers  insurer  risk  price  vant

History of this topic

Home insurance costs spike, with parts of Australia at risk of becoming uninsurable
8 months, 2 weeks ago

Home insurance costs spike, with parts of Australia at risk of becoming uninsurable

ABC  

In California and Florida, getting home insurance is becoming an almost impossible task. "We've seen in other markets around the world like California and Florida that have almost very similar profiles to Australia in terms of peril risks like flood and bushfires, as well as cyclones, a growing population has been left vulnerable and exposed," says Insurance Council of Australia …

Car insurance costs hit new average record high of £635 - but hikes may be starting to slow
8 months, 2 weeks ago

Car insurance costs hit new average record high of £635 - but hikes may be starting to slow

Daily Mail  

Long-suffering motorists faced another car insurance premium hike this year, with the average driver now paying a record £635 for cover. Insurers said that claims costs, thefts and repair prices were behind high car insurance premiums. On the line: Drivers are being squeezed by rises in car insurance they have no way of avoiding ABI director of general insurance policy …

ACCC recommends immediate overhaul of insurance in northern Australia as costs soar
6 years ago

ACCC recommends immediate overhaul of insurance in northern Australia as costs soar

ABC  

The Australian Competition and Consumer Commission says government intervention is needed to bring down high insurance prices in Northern Australia, recommending the abolition of stamp duty on home, contents and strata insurance products. Key points: High insurance costs are behind residents being underinsured or not insured at all The ACCC has made 15 recommendations, including for the WA, NT and …

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