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Huge Premium Increase on First renewal. any one else had same? no claims made.
we insured our brand new house with Budget Direct after much research (perhaps not enough?).
initial premium was $721.80
No claims have been made.
first renewal - the premium has been increased to $1082.00
Thats a 49.9 percent increase which feels like a scam to me,
anyone else had a similar experience?
I am taking this matter to Choice, but would appreciate any comments. ...we have cancelled our policy and will look elsewhere. Interestingly - The vast majority of 5 star reviews on here are from people who have never made a claim but are very happy about how pleasantly and efficiently Budget Direct took their money (premiums)Try reading the ONE STAR reviews. The people who made a claim or got massive increases in their second year premiums. Focus on how well they perform when insurance claims are made - not how nicely they take your money!!
Think you have home insurance but it's actually void
The only true value of an insurance policy is when you make a claim. There are lots of positive reviews here about this company, mainly based on the ease of getting a policy or the cost. The reality of Budget Direct is that the questions that you answer online are ambiguous and deceptive, potentially leaving you uninsured. Don't confuse ease of getting a policy with how a company will behave once you truly need them.
Great at taking your money. Terrible when you need to make a claim
We bought a house recently and took out home insurance with budget direct. The house was burgled and stripped of its copper piping in the kitchen, bathroom and laundry. Budget direct cancelled our policy because we have an fibro cement sheet roof?! They left us stranded with an unliveable house and abandoned us when we needed them most. The online platform does not even have the option of ticking fibro cement sheet roof. Yet they will insurance a house with asbestos on the exterior walls. Absolute rip off. No amount of discount is worth the st...ress they create by cancelling your policy! November 24th 2019 Update: Worst insurance company in Australia Had a home insurance policy. Made a claim. They rejected it by finding a loophole. You ticked the wrong box on the website. Cheap but whats the point of having insurance with a company that refuses to pay for legitimate claims? Might as well not have insurance than have it with a company like Budget Direct
Excessive Premium Increase
I was with Budget Direct H&C since 2011 and Never had a claim. Last 2 years premiums increased from $1800 by 48% (which i should have cancelled) then 61% this year to $4635. I have now cancelled. when i queried this I got the standard response, something about algorithms.
Interestingly, after cancelled I did an online quote using the same information from my cancelled policy and it returned $1265 (cheaper than what is was back in 2012).
I called back to ask why the difference between a loyal customer and a new customer is over $3370. I asked...
Wasted 2 hours of my time.
Couldn't even get the insurance got a quote and from there it was non stop issues trying to complete. Fillef out all the forms, it took my credit card number and then froze online. Rang up and the salesman hung up instead of reading the product disclosure statement. Rang back again and after 2 hours wasted they put the price up. Forget it. Terrible attitude. Terrible service.
Do Not Waste your Money on House and Contents Insurance
I tried legitimately to make 2 claims. Both declined. Each one declined through semantics and twisting the claims to be "not covered by the policy". The policy was over $1400 per year. Each claim I had cover for. The first claim for pool chlorinator was covered by fusion, but they ignored it for so long, made it complex and confusing asking for irrelevant information till I just paid for it as the pool was going green. They were useless and careless. the second claim caused by escaped water was declined due to their assessor saying NO without e...ven inspecting. Expect to be declined, expect the assistant on the phone to have terse attitude, and they have no compassion. Their primary objective is DECLINE. I am disgusted and changing to a better brand, who is fair in accepting claims.
Avoid - their underwriter is Auto&General
Been with them about 6 years. No claims, then renewal comes in with premium increased by 100% - really. Auto&General gave excuse that my property is subject to overland flooding as appears on BCC flood awareness map - BUT this has always been the case in the 12 years I've lived at this address AND in the big storm in Brisbane City in 2011 ,had NO ground flooding but I did have water damage in my house through hail smashing my skylights. Might add on the map 'overland flooding' just touches a tiny part of my backyard. They obviously were jus...t looking for an excuse to rip me off. Glad I dumped them. Wasn't aware of what a bad reputation Auto@ General have (just look at theirt website). Budget need to do themselves a favour and dump A&G as their underwriter.
House and contents renewal
Just received my renewal notice last year I paid $971.23 this year to renew they have increased it to $1469.24 why I ask nothing has changed I have not made any claims. This is nothing but price gouging it's disgusting to increase by this much so much for customer loyalty shame on you.
1.3 years ago house was robbed and Budget Direct makes every excuse to elongate settlement
Budget Direct are the worst when it comes to making claims. They've made very excuse under the sun to ensure the settlement process is elongated as much as possible to avoid paying their customers in a timely manner. This is their business model.
12 months on and they've still not settled even though they ensure that they will.
They defintely don't take ownership and follow up, they know customers have busy lives and they prey on this.
This review is on behalf on my distraught and upset friend.
There level of customer service when going through claims is disgusting.
When claiming for damage they got rude and you could hear in the background halfwit remarks from other telestaff! On top of that they won't repay a claim that is causing further damage and is genuine!
They left us in stranded.
Plumber repairs fast leaking pipe in early February and carries out water pressure tests to check leaks are repaired.
We took home and content insurance in late February. Mid April we discover a slow leaking water pipe in a bathroom wall cavity. Contact budget direct and after inspection from them they denied the claim stating that the Mold had been there for 6 months and we had only held a policy with them for 6 weeks. Budget direct .it's in the Hands of the insurance ombudsman now and 3 months later I had to pay for full bathroom reconstruction. Save your money and heartache.
They left us and 3 young kids with toxic Mold problems and wiped there hands clean of us.
Slow, bureacratic, unhelpful, led to more damage to the house
Easy to set up and purchase, hard to actually get a claim processed. A thoroughly miserable process. Claims were really slow to process, they still haven't fixed the cause of the problem and whilst waiting to get the problem assessed more bad weather has led to more damage which was completely avoidable.
Will only cover low to medium risk customers
I tried to get a quote for house and contents. I am currently insured, and have been for the past 25 years without any claim. After getting quotes from 6 other insurers, I suddenly come up with the message from Budget Direct: "we can't offer you insurance", no reason given. I contacted them, to be told they "due to underwriting criteria, unable to offer me insurance" - no specific reason. Apparently they are low to medium risk insurers. Don't know why they can't insure me, when others can. I have been in the same house for 25 years without any problems.
Joke joke joke
We paid $280 renewal for third party we called to renew the guy was rude and said insurance went up and wanted $420 yep despite saying no he kept saying how I wanted to pay ah no thanks got it for $239 coles. Service is a joke lost our paperwork ... stay away ppl shop around
More like Dodgy Direct
Do not insure anothing with Budget Direct. They continuously change their insurance risk criteria and then send you letters that the insurance risk falls outside their acceptance criteria even though no details were changed in respect to the policy and no claims were made. What an absolute joke of an insurance company. I have my home and 2 investment properties with Budget Direct and they are unwilling to renew the policy on my Queensland property when it expires. I have other policies with NRMA, GIO, AAMI and Shannon and never ever have I b...een told that they will not be renewing my policy when due for renewal due to change on acceptance criteria. I will be cancelling all policies with Budget Directs and my parents policies (who I administer all their insurance needs) ASAP. Basically they are an insurance company who will not even insurance low risk, only ZERO risk. Do not waste your to time with this insurer.
Awful customer service
I can't imagine how painful making a claim is considering how awful my customer service experience has been. I signed up with a promotion to get gift cards after 45 days of my policy starting. After this went by and no sign of them, I got in contact to be told it can take up to 60 days. After this went by and still no sign of them, I got in contact to be told I'd receive them within 48 hours. After this went by with no sign of them I got in contact to be told I'd receive them within 24 hours. After this went by with no sign of them I got in con...tact to be told another 2 business days and I'd receive them. After this went by, surprise surpise with no sign of them I got in contact to be told 5 more business days. Absolutely awful customer service, deceptive advertising as they clearly aren't intending to follow through on what they stated they would do in their advertising, and all around just a really disappointing experience. Definitely won't be renewing with Budget Direct.
Ridiculously over priced
My current home and content insurance is up for renewal, which has subsequently increased by 110%.
When queried why the massive increase, I was told by agent that nothing can be done and to get other insurance company quotes and if Budget Direct price was to high just phone in and cancel current insurance policy.
I find this mindset amazing, "It is what it is" mentality so move on. Why would anyone want to have such a insurance company looking after your assets.
Time to move on and join a reputable insurance company.
Budget Direct deserve a NO STAR RATING.
False advertising - Dodgy Marketing Campaign
Signed up two properties after receiving promotion email claiming there will be $60 bonus gift card issued for each policies signed and stayed for more than 21 days cooling off period.
After 60 days from initial signing up period there has been no bonus gift cards issued - The staff over the phone and online chat all claiming that I still have to wait or not eligible - despite I did click through the promotional link.
Highly suspecting this is a false advertising to get people signed up.
policy nearly doubled in 1 year $604 to $906
I have just cancelled my policy for home and content insurance after I received my renewal notice and saw the $400 increase. I nearly just renewed it without thinking but something triggered when I saw the amount and decided to check what I paid the previous year. I think it sucks they know alot of people wont check and they make a huge profit. Hopefully this will help others keep them honest.
Really, really read these reviews - what is up with you Product Review?
These reviews 3* and over are written on the basis of reviewing how easy it is to get an online quote. How easy it is to set up installments and on and on. Are you having a laugh Product Review? You are supposed to vet these entries. The entire first page of scrolling relates to a person who has actually had a claim and it was a 1 star. Based on these completely bogus entries I won't even bother looking at a quote.
Beware Budget Direct: Claim enquiry is counted as a claim!
Imagine enquiring about a leaky shower with Budget Direct. You ask could you claim it. It turns out you cannot claim it, this so you pay for a builder to fix the problem 100% yourself.
Later on that year you go to renew your insurance policy with Budget Direct only to find out that the enquiry you made earlier was counted as a claim and your insurance has gone up.
It hasn’t just gone up on the repaired house but your investment property too, even though your investment property has nothing to do with the initial claim enquiry. What a rip off. ...
Just another money grab - where is the loyalty.
Have been with Budget Direct for years and have multiple policies. I had concerns a couple of years ago because my renewal was much higher than what was on offer to new online customers however they matched this for me at that time. This year I received my home and contents policy and it had DOUBLED!!! When I rang they were able to offer $30 - $40 off if I raised my excess or reduced my insurance amount, what a joke. I have advised them that I will not be renewing as I have a much better offer elsewhere - one of the staff then advised me th...at my home had been assessed as a much higher risk because of the area in which it is located (a small seaside coastal town) it seems that any reason will do - I have never had a claim on any of these policies but that does not seem to make any difference. Whilst polite the staff don't seem to be worried about losing customers. Anyway - as my other policies come up for renewal I will take my business elsewhere.
Overcharged my credit card - doubled the yearly insurance
I have two houses on one deed. They gave me a quotation for both houses combined. It was alright the first year. They charged what they quoted. The second year they took twice the amount from my credit card. They charged the same quote for each house. I only found out by accident when I checked my bank account. Do not trust Budget Direct with any of your insurance. They are thieves and they know exactly what they are doing - give a quote then double it to your credit card the next year. It is okay. You will not notice. I immediately cancelled and got my money back.
Underhand Tactics, Doubling Your Premiums Without Your Permission To Avoid Paying Out On Claims
Initially I thought they were good value.
There are many others that are far better value and I guess value is dependent up on "if you ever have to make a claim".
I made a claim recently because of the storm it caused a leak under my kitchen window.
I called Budget to make a claim.
At which point they advised me that I had a previous claim with NRMA 4 years ago. NRMA!!!
I'm sorry is this not Budgt! Yes, Sorry 4 years ago! Okay is this a problem.
No! If you can source the details of your claim from NRMA and send them to us that would be great...
No longer "BUDGET"
Been with Budget for ALL of our insurances since around 2007 (there are no bonuses for this) We had a claim on our house around 2009 when a vehicle crashed into it. I was dreading the claim but Budget Direct were amazing. 10 years on I just received a renewal that had jumped up in cost by approx $1000. Sorry budget but just because you're a well known name now I'm not staying loyal just to be ripped off. The explanation from your employee "house prices have increased in your area." Funny that other well known insurance companies are still $1000 cheaper. You need to seriously consider changing your name. "Rip off direct" perhaps?
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