All Risks Insurance

[mmgemini]

We've just been quoted £800 for our all risks policy. Twice as much as last time.
However something new, an excess of £750

Really is it worht it???

Unless somebody knows another company

[bvudzichena]

My attitude toward insurance:

Take the minimum that the law of the land stipulates. Insurers are all rip off artists - especially in this part of the world.

Case in point.

Last Monday night there was a fire at a house bordering onto the development I stay in. The fire spread, destroyed two units and half destroyed two others. Mine was half destroyed.

Now this is a new development. So when we called the insurance to lodge the claim, their first question was "where's the fire brigade sign off certificate". When we asked the developer for it, he told us to check the small print in the purchase contracts, that the certificate would only be applied for once the last unit had been built (not built yet) and that anyone staying in the development prior to that does so at own risk. Oh yes, I've owned the place for the past 18 months.

Millions of Rands lost...

Big lawsuits on the horison...

Did I mention the bank still wanting their mortgage payments? Or the fact that I have to finance the rebuilding of the house?

Insurance companies are very happy to take your money, but very hesitant to pay.

You are better of having your own war chest in case of need.