Check your insurance renewals 15



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I have had our contents insurance for over 15 years with QBE and have never made a claim.

I pay it fortnightly through credit card. I have received my renewal notice stating the fortnightly payments will be $32.06 per fortnight for $80,000 contents insurance with a $400 excess.

I thought that was a bit steep.

I logged on to the QBE website and entered an online quote for the same amount of insurance and the same address. The quote came in at $448.00 and $18.96 a fortnight. A huge drop on the initial renewal notice.

I then logged on to the AAMI website and entered the same details the quote came in at $340 or $26.00 per month and only $100 excess. A huge 60 per cent drop in the original premium. I am writing this to see if you can make aware for people to check there renewal notices and shop for a better deal. it Appears that once you are a customer they will just hope you pay it and not take into account length of being a customer. QBE no discounts for not claiming.


  • Original QBE renewal notice for $80.000 cover = $833.56 with $400 excess.
  • Online QBE quote $80,000 cover $448.0 with $400 excess.
  • AAMI online quote. $340 with $100 excess.

Hence, I have a new policy with AAMI. QBE were not at all concerned when I brought this to there attention. I contacted the insurance ombudsman who passed it on to QBE.

I have been contacted by the insurance ombudsman and he informed me they can’t do anything regarding premiums.

But said make sure you check your policies when due for renewal. He has passed on the information to the QBE management.

Today I received an email from QBE.


Reply form QBE 15/04/2015

Hi John,

This email is in regards to your request to refund any excess charged made over the past years. We understand that getting your money’s worth is important to you. We have sent out the renewal offer every year few weeks before the policy commence to give you ample time to review the offer. In the renewal offer, you will be advised of the cover, benefits and premium. If you feel that the premium set out in the Policy Schedule does not suit you, the PDS provides different ways to reduce your premium which you may be eligible for- e.g No claim bonus discount, Multi policy discount, Over 50s discount – you may also increase your security or opt to choose a higher excess. If you still wish to cancel the policy after your decision to accept it / review the offer, you may cancel it and still receive a full refund given the request is made within 21 days of the policy’s commencement.

Kind Regards,

Insurance Specialist
Corporate Partners & Specialty
QBE Australia


Tell us, are you happy with your insurance policy?

Guest Contributor

  1. I insure my car now with shannons at 37 per month.
    Was with nrma 57 per month.20 per month is 240 per year. Better in my pocket than theirs.

    1 REPLY
    • Well done Monica. We too have been insuring our cars with Shannons for years. Only had to make one claim which was dealt with swiftly & with no problems ( as it wasn’t our fault )
      However , for everyone who reads this, Shannons only initially insure high end priced cars but will add on our everyday ones as well.
      I had a very snobby friend who wanted to insure her Mazda but Shannons knocked her back as it wasn’t up to their regard of ” a high end car” – she has never gotten over it ( what a shame ! )

  2. We check our house & contents and car insurance online every year when they are due for renewal. We had a similar experience with an insurer we had been with for a long time.

  3. We have always shopped around. I lost a good gold bracelet recently and was amazed that NRMA had a new one made exactly the same as the one I lost. It is now worth 4 times more than the original. An insurance company is only as good as its claim process when you need it. They now have my loyalty as I feel confident that if something bigger happened we wouldn’t have to worry.

    1 REPLY
    • Maree ,only had 3 claims since 1970, NRMA discounts for policies & length of time , loyalty. Last claim a few years ago for no power after big storm, they just told me to put a list in, no proof and was paid next day.

  4. My car insurance renewal with AAMI had the value depreciated $6,000 but the monthly premium had gone up by $11, taking the annual premiun to nearly $1,200!!. After shopping around, I took out my policy with Woolworths Insurance, the valuation being $1,000 more, & the annual policy cost was half the price..hence the monthly instalments are half the cost, saving me $50 per month. It pays to shop around each time a policy is due fro renewal..

  5. They all do it and at the end of the day there are mainly only two underwriters to most of the insurance companies in Australia. Auto & General underwrites many of them and I have just gone through the same exercise as the writer of the article. In my case it was Budget, I looked at other quotes from AAMI and RAA. As I had previously had this experience with AAMI I decided to go with RAA this time.

    It does pay to shop around and bundling can sometimes help but watch out for premium creep in the individual components in the following years.

  6. Many have changed only to find service or claims are a PROBLEM, I compare mine with adds on TV, and are always cheaper, and as I have 6 policies with them I get Discount , and another % for staying over 25 years. I always read comments on line , some have LOTS of complaints

  7. It pays to shop around and not take for granted what they are offering, they rely on people being lazy and just paying.. I shop around every year for all our insurances.. I have found Allianze the best this year, and next year it will be someone else giving the better discounts they seem to take it in turns.. lol

  8. Every renewal time I always, always get quotes from various companies for every insurance we do including business ones because they vary from year to year. Sometimes if I ring up I get it cheaper than doing it on line!

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