Costs of home insurance is skyrocketing at Suncorp. A premium of $3700 going to $6100 in only two years. When queried about specifics of this particular increase, the response was “if you’ve tried to get hold of a tradie recently, you know that materials and labour have gotten more expensive.” 60% more expensive?
However, Suncorp net profit after tax was $560 million, up by 44.3%, while cash earnings increased 62.9% to $588 million.
So the 60% increase appears to be a pure profit grab.
The representative suggested that I review polices on their site:
“You may also want to make sure everything is up to date on your policy by logging in on our website: www.aami.com.au.”
“Suncorp is AAMI?”
“Sorry wrong window.”
I guess they are telling me to go elsewhere.
Well now it is off to Choice to see about home insurance comparisons.