Elders Insurance

Submitted: Wednesday, Jul 01, 2009 at 21:35
ThreadID: 125820 Views:2580 Replies:4 FollowUps:0
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Has anyone had any experience or know anything about Elders Insurance both from a service angle as well as the financial stability of the company?

They have a very economical house contents cover which gives cover Australia wide and the excess does not increase when you are away for more than 90 consecutive days.

Thanks
Wendy
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Reply By: Rockgoc - Wednesday, Jul 01, 2009 at 21:47

Wednesday, Jul 01, 2009 at 21:47
Wendy we used Elders for our vehicle insurance. Unfortunately we wrote our F Truck completely off last month, and Elders paid up nearly the whole total of what we had sunk into setting up the vehicle. I think we were short about $3000.00 in the end but we are very happy with that figure because of the complexity of valueing a fully imported vehicle with some pretty unusual add ons. While they took a fair while to come up with a pay out, we believe it is because we are "in the boonies" and it was a bit hard to have it assessed quickly. We were only with them 2 years, so they really did not do well out of us. And they agreed to re insure us, but we went with Suncorp as they had a better price for what you get.
Hope this helps. Regards, Jan O
AnswerID: 578184

Reply By: Motherhen & Rooster - Thursday, Jul 02, 2009 at 03:37

Thursday, Jul 02, 2009 at 03:37
Hi Wendy

We are with Elders, and as our agency is efffectively a broker, they give us top service.

Motherhen

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AnswerID: 578185

Reply By: Gundarovers - Saturday, Jul 04, 2009 at 07:03

Saturday, Jul 04, 2009 at 07:03
Hi Wendy,
I have been using Elders to cover my home office/cottage building for about five years. Rates have been very good.
About Xmas time we had a horrendous storm come through which blew away the power transformer on the pole (we are in the country) and a bunch of computers and electrical gadgets inside.
The claims process was straightforward and they were very helpful and paid up to the full amount of the claim.
From this experience (some insurance companies are cheap to use but are awful when you have a claim!) I could reccomend Elders without problem.
I use APIA for the BT and F-250 though and get very good service and pay by the month premiums without any extra loading. APIA has specialised caravan policies and are well aware of the needs of grey nomads/recreational travellers, and they insured the BT for full replacement value.
Cheers,
Norman
AnswerID: 578186

Reply By: galacticbob - Monday, Jul 06, 2009 at 21:44

Monday, Jul 06, 2009 at 21:44
Thanks guys for your reassurance on the reliability and service provided by Elders.

For me getting the right insurance policy for our needs is important, so I have always made the effort to do heaps of research and read Policy Documents before making a decision.

This time I was after a Policy that would cover the contents of our vehicle whilst travelling as well as the contents of our house when we are away for an extended period of time.
My first lesson was to learn that the contents of the vehicle can only be insured under the house contents policy, not under the vehicle policy.

So I started researching home and contents policies. This is what I found –
• Most companies will not insure the house contents after it has been vacant for over 60 consecutive days
• The majority that did offer cover whilst you are away wanted stringent weekly internal and external checks and/or a hefty increase in excess
• All policies offered portable valuables cover which in theory would cover the contents of the car, but when I started listing the contents to the Customer Service person many were excluded. For example, the solar panel, the sat phone and the ARB fridge
• The few companies that did offer comprehensive portable valuables cover wanted ‘an arm and a leg’ for it which made me question whether it was worth insuring them

• In the process of this research I also found that in most cases, if you insure your van contents under the house cover they are only insured for 60 days and only whilst the van is away from the home
• And when making a claim it is extremely helpful if you have photos of all your contents – portable or otherwise

I eventually narrowed my search down to GIO – they met all my requirements but at a very hefty premium. This high premium prompted me to try one last place – Elders. To my astonishment they offered all that I wanted and at half the price of the GIO policy … and I did not have to list and value the portable stuff!!!

So in summary, the Elders Home and Contents Accidental Damage cover insures all your PORTABLE GOODS anywhere in Australia for the entire year AT NO EXTRA COST. The only limitations are a maximum of $20,000 per claim and $2,000 per item. If necessary, this limitation can be overcome by taking out portable valuables cover for specific items.
They also insure the house and contents for the entire time you are away provided you notify them and have the place checked regularly and the lawns and gardens maintained; AND there is no increase in excess.

There are most likely other companies out there that I missed in my research, but once I found Elders and got the reassurance from other Forum Members on their service and reliability, my decision was made.

Wendy
AnswerID: 578187

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