We just received our home insurance renewal for our house in North Arm Cove. The increase from last year was a whopping 26%. It prompted me to examine our insurance a bit further. Since 2020, our insurance has increased exactly 100%. It has doubled in 4 years!!
Due to our bushfire risk, we take out the most expensive type of cover, complete replacement. If our house burns down, the last thing I would want to do is argue with an insurance company about the level of our cover.
So what to do about our premium increase? First step ring and complain. When that doesn’t work, ask to speak to the supervisor. Result, a $261 reduction. That is still an 88% increase over 5 years, but at least I feel a bit better.
On the other hand, I could spend hours on the computer getting some quotes. The last thing I want to do is spend time estimating floor areas and answering numerous other questions about the building and what is in it. I think that, for the moment, I will be content with my $261 win and worry about more quotes next year.
