I was going to comment but you guys have got it covered...put the fear of God into them...everything is going to be at a higher risk...but you have pay out on claims..you cannot charge more AND then not pay...insurance is like a real bookmaker....it's a game of chance and if you lose you lose.. Edited 12-Dec-24 18:21pm

Always look around big question is how long dose it take once a claim is lodged it is greed and there is no law that overseas these companies . Due to rising living coast I would thonk a lot of people have not been able to continue with their insurances so lack of customers would push up costs .Read the small print twice and look at customer reviews .

I would like to insure with Smith and Wesson so I could ensure I would have the cover I need. Insurance premiums are such a rort now.

I have body corporate insurance because I live in a unit that shares the same drive way with 2 others. Between the 3 of us it's $2145 a year. We have been paying for 12 years without a claim. ($25,740 total) A car run into our brick letter box and sped away. Claimed for the 1st time, ($1,800) Now they are saying they will not renew the policy and we need to look for insurance somewhere else. Thanks a lot.

People who live in glass houses? If you know there have been floods and there getting worse, poor you if you don't sell up and get out!

Its all about covering ones arse. You pay them some money to cover your arse and they base their premiums on how many arses they have to cover and they in turn pay someone else to cover their arse!!!! Bit of a bummer eh?

Insurance is little more than a legalised scam. You keep paying in, but they'll use every trick in the book to wriggle out of paying out to you. The problem is, that if you do need to make a claim, and if they actually pay anything close to what they say they will, it can be very helpful. If the insurance industry had any real intention of helping people (rather than simply greedily cramming money into their own pockets), then when you close your account with an insurance company without having made any claims, they should have to give you back all your premiums, so it acts as a sort-of savings account. Other similar legalised scams are phone and internet plans where the data / time somehow "expires" at the end of the month or year, despite having paid for it. Another one is gift cards with an expiry date.

Insurance was created by the bookies, if a bookie didn’t pay out at a racetrack what do you think would happen, insurance companies have to take the good with the bad, premiums never go down when they have a purple patch.

Not to be an apologist for the insurance industry, but we have to be cognizant of the enormous losses in the past couple of years....massive flooding taking homes, contents, cars, crops, human lives and livestock. The same issues with similar losses with wildfires in North America and Australia, earthquakes around the globe, hurricane destruction of homes, boats, planes and tornadoes doing a number on whatever is left to be destroyed. The whole premise of insurance is the ability to spread our individual losses over a wider base of those unaffected.who pay into that pot. Skipping over the actuarial calculations and risk assessments that underly the pricing, your premiums rise to pay those losses. Edited 09-Dec-24 14:56pm

Yes it sure is happening to others. Insurance companies are greedy pigs feeding of the citizens and laughing at us all. After paying for house contents and vehicle insurance I wonder why I carry them at all. I don’t live that far away from the fire brigade and I’m sure they would at least save some of it if the worst happened. I asked the insurance to stop putting the contents value up by $1000 each year and that has by every year for the last 3 years so this year I asked again and when they said it costs more to replace furniture now than 5 years ago I just said Im downloading contents in the house this last 3 years and it’s not now the value for cost you are charging me each year. They said it’s because of the floods etc etc (you know it all if what they say) and I replied that we didn’t have floods etc where I lived. Then they told me I lived in a flood zone which costs more to insure and I don’t …… live in a flood zone and I very strongly told them that they should know that as well and recheck their source of information. Got $390 off for my constant waiting on them to answer their phone and argue with them and they finally cancelled my policy because I didn’t get it paid by the due date which was completely incorrect the money went to into their bank 3 days before due date to make things worse they sent 3 advices to my late husband which really upset me He wasn’t arguing it was me he was dead. Yes they blame floods. Fire, winds, storms earthquakes anything they can think of and that is seemingly why the premiums go up. I hope they realise that older people aren’t getting enough money to pay these bills just so the offices staff can get paid exorbitant wages and keep their buts warm while the poor trusting citizens who rely on their insurance for things that could go wrong and if you didn’t carry insurance at all over the period of owning these assets that cost of premiums would well and truly pay for the cost of replacing these things we all insure. Is it worth insuring stuff or is it not. It’s just peace of mind and then it’s all bad news from there on. They get discounts for everything you have to replace and are not happy if you want to get the replacement money and buy it all yourself.

Due to my current circumstances... cost of living and all that, I have recently cancelled my home insurance policy (a sky-high increase in premiums) ... if my home catches fire this Summer... I'm Fu€k%d!!!

Insurance companies are cashing in on the global warming/climate change fears. In NZ Earthquake premiums form half the total And whatever you do, don't own a property near the sea., in a few years you won't be able to get insurance at all.