this post was submitted on 13 Dec 2023
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Contents insurance up 33% for us. Is this common? (self.newzealand)
submitted 11 months ago by sylverstream to c/newzealand
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We've got contents insurance with AA and from next year we'll be paying 33% more. We have had 2 claims for a different policy this year, one at fault, one not, and they said it wouldn't impact our premiums. Is this common for everyone? I understand it goes up because of all the floods, but 33% is very significant.

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[โ€“] Dave 1 points 11 months ago (1 children)

We are lucky to be in a position that the higher excesses (normally $1k-2k from memory) won't cause us financial stress. Even if lots of things go bad at once, it will hurt but won't be damaging long term, just make it take longer to pay off the mortgage.

I guess I just hate paperwork more than I want the coverage, claiming on insurance is not something I want to do, so I put excesses higher to avoid it. Peace of mind for me is knowing I don't have to spend several days arguing with the insurance company over $500 ๐Ÿ˜†. We sometimes spend that much at the supermarket! (Though having a few of those prompted me to buy a lot more from the weekend markets, so it hasn't actually happened for a while).

[โ€“] sylverstream 2 points 11 months ago

Yeah the excess would be fine with us as well. My experience with smaller claims is that it's quick and easy, had 2 claims <$3k and they were approved quickly.

The current damage to our car is roughly $20k so that's a different story.