Join our investing community

Good Insurance Quote Site

Discussion in 'Investor Resources & Tools' started by Alan, 17th May, 2007.

  1. Alan

    Alan Well-Known Member

    15th Aug, 2005
    I just received my Term Life Insurance Renewal Notice from my Insurance Broker and noticed that while my cover had risen 5%, my premium had risen 15% to about $1070.

    I got onto * Insurance Watch - Compare Quotes Online for Life Insurance, Income Protection, Trauma Insurance and Mortgage Protection Insurance and when I did a quick quote comparison the Site came up with CommInsure TCP at about $955.

    I rang my broker and asked why I would go with this higher premium? He said he'd do a quick check and find something better. He came back with Zurich at about $1050(doh......that's better!?) and acknowledged the $955 was a very good premium.

    It gets better, when I applied for the Insurance via Insurancewatch I also received, in addition, a 10% premium reduction in the first year for applying on-line.

    Not necessarily a biggy, but for the sake of 15 minutes it was a difference of $210.

    I haven't used the above Site before and don't know much about them, but it does appear a useful one to keep in my 'Favorites'. :)
  2. Jacque

    Jacque Team InvestEd

    16th Jun, 2005
    Thanks for the heads up on this one, Alan. Just coming at the right time for hubby, who was having a moan about the rising insurance costs recently....

    Is is just me or does anyone else LOATHE reading insurance policies when you're shopping around? The mere interpretation of some words can vary to the extent where you're just not covered, in cases where you thought you clearly were. There was a case last year when a landlord (Bob Ganley) was refused insurance payout on malicious damage by a tenant due to the interpretation of the word "home". I can't locate the exact article, but it's worth the read just to see how ridiculous the insurance company in question actually is.