19jun 5 fixes hero
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1 August 2018

5 fixes for the insurance market

Junk products, unfair terms and sky-high commissions. Why we need to fix the insurance market.

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Roger L.
31 May 2021
House Insurance Increases

Hi,
I have copied in an email I sent to State Insurance a couple of months ago protesting their huge 93 % increase from 2-3 years prior that was on top of another large increase from 2 years before that.
"As I have stated in my email I am most concerned about the huge increase between the two years mentioned in my email which I have copied in below:

In the March 2018-19 year I paid $5629 for cover of $5,293,094.

In the March 2021-22 year I paid $10,819 for cover of $6,068,510 By my reckoning this is an increase of my premium of 93% for an increase of cover of less than 15%!
You draw attention to the fact that some charges are outside of your control. This I understand but in this instance the Fire Levy has remained the same as in 2018 and the ECL levy has only moved up by $200 in the same time period making the remaining increase in premium of nearly $5000 entirely a State Insurance Increase or am I missing something? '
I was not successful and the reply cited increases in 'other levies' and Otaki being in a high risk zone.

Good luck and I agree with everything that is covered in your article.
Cheers R

kerry-ann w.
20 Jun 2021
absolute thievery

I am disgusted as to what State insurance has done to Roger in the above letter. I have had a similar experience with AA INSURANCE for house , car and contents. An increase of more than $400 since 2019. This industry needs some severe scrutiny, they are getting away with absolute thievery. As a "new " pensioner I cannot see that I can continue with insurance at this rate. I wrote to AA and said they needed to give pensioners a discount otherwise its cancel the policy which many of my pensioner friends have had to do. Does anyone have any suggestions as to how to get a fairer insurer.