This is a post by Will, originally posted in the middle of a For Sale/Wanted thread.

Lots of good advice here, so I have moved it to a more appropriate section.Thanks Will ,it would be a shame if not many people read it, specially as it is a serious post, we don't get many of them from you. ;D ;D
Gidday Reddo
apologies to Classicrodder
this has no caravan content and is long winded but a timely warning to every one who puts faith in insurance policies so to anyone not interested skip this posting
and most certaintly not a lecture to a dear Mate and his family
I feel for you guys over there
please give trish and the boys our best wishes Reddo
and hope all comes back to normal ASAP
Lyn and I are prepared to fly over and give you a week to help cleanup your property ring me Reddo
that certaintly doesnt surprise me about insurance companies
its all about taking and very little giving
ten members of our family set up an insurance fund to self fund our own car and house insurances after all putting in 50 dollars a month over ten tears in 1974
we set a ten year goal to see if we could beat them and that we did the group purchased two properties one commercial unit and a house in Albany W.A.
in that time we had 11 claims and when we split the dividend at the end
total input was $60.000
claims were $26.000
and when we sold up and recieved the dividend
with interest on the fund we came out with $36.000 each
covered all our insurances and and fees
we outlayed around $6000 each in all
I purchased a house in rockingham for fifty seven thousand with the $36.000 which is valued at $450.000 now
these are the ratios for just ten people
Can you imagine what the ratios are for 500.000 people
Any one that place trust in Insurance Companies must be aware there main duty of care is to share holders and you come second if they can wangle a legal loophole they will
It is up to you to check every single aspect of your policy down to the letter
In 1995 a retiree lost his entire lifes savings in a supreme court decision that awarded the insurance company a win
because when a lady who was inspecting his unit to buy it fell through a balcony rail and broke her leg
he claimed from his insurance company
they refused to pay because when his policy was written it had an (S) in brackets at the end of his policy
e.g .Home unit(s)
and he only owned one
even though it was written and reccomended by the insurance company
he signed it
He lost
an absolutely true story I cant put who the company was because of the caravan site rules
Reddo you and most in your area and in your situation are just average Aussies have the nation Riding on your back
work hard pay your taxes do your bit
Reddo you would expect naturally to be covered
however the coffers off the Insurance companies will swell even further in the next ten years as everyone adds flood cover to there policies
and guess what you possibly wont have a major flood again
for twenty years by then with interest and profits they could pay for ten floods
just to make sure it doesnt flood again take out flood cover
I am not deterring any one from taking out insurance
just get out your policies and spend one night reading what is and isnt covered and I bet London to a brick if you check thoroughly in the past five years you have overlooked at least ten claims
for example
the wind blew our tildadoor in and it had a curve in it and a slight twist
we pursued it and it was replaced ($3000.00)
I wouldnt have even thought about it because it still closed and functioned ok
until a mate saw it and pushed me to claim it
Insurance is them betting you
you will have an accident or misfortune
gambling in a casino is 33 to one against you winning
and gambling withan insurance company is 33 to one for them winning
Just look at the massive signs on the thirty to fifty storey buildings in your major cities
guaranteed to be owned by an insurance company
all I am saying is
reddo and any one reading this get that policy out and check every thing ad verbatum from burnt out motors to storm damage add what you think is good for you and claim for every single item you possibly can
its worth three hours pouring over the fine print when the siuation settles
If you wonder why I mention this I was Australias top producer in
1975 for combined American Insurance company
sold on average 50 policies in a 5 day week and broke the pacific rim record with another agent between us we sold 180 policies in a week as a duo in the sth west
If you ask me if insurance is a neccessity the answer is yes
factor it into your annual expenditure and hope your claims are paid
If you are knocked back for any reason on any claim appeal the claim if you feel it is justified to the insurance ombudsman
remember just one letter can cost you everthing check and recheck before you sign
Will
Then we had an answer from fbmad ;D
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Agree TOTALLY with Will.
I've had a bad experience with an insurance company claim a few yeras ago and I ABSOLUTELY detest all insurance companies as a result.
Even though they show a family friendly face in their media advertising they are the devil in disguise!!
Your best friend when they want a policy from you but god help you if you make a claim.
They can be a necessary evil but I keep my insurance policy numbers down to an absolute bare minumum.
And like everything, I always shop around for the best price on insurance ( and have saved LOTS of $$$ by doing so ) and I now ALWAYS read the fine print.I will terminate a policy if there is something in the fine print that I'm not happy with.
I feel so sorry for Reddo and Trish to go through the flood and the resulting losses and its an extra kick in the guts to find out your insurance company won't pay.
NOT FAIR!!
I learn't this same lesson years ago.
ALWAYS read the fine print on any insurance, contracts , personal/home lending products etc.
Terry.
Ok, everyone back on track?
Cheers Kris.