Extreme increase in premium after 1 year
I went with Budget Direct after seeing good reviews and the price for cover was acceptable. But on receiving my renewal the premium has gone from about $1000 to $1400. This is an extravagant jump given that I have made no claims and there have been no natural disasters in my area that have caused large payout. I am left feeling that it is all false advertising and using attractive initial pricing to get you in. Extremely unhappy and see it as unscrupulous actions on behalf of the company. I am absolutely disgusted and looking at other providers.
Impressed at the beginning, only.
To start off, budget direct offers an irresistible starter premium on my home and contents insurance. But that's where it ends if you have one relatively cheap claim. Prior to Christmas 2020, we had an attempted break in. We risked our lives by yelling at the would be intruders, 4 of them and the fled. Despite that they managed to damage a side gate lock and two big pieces of glass. We put in a claim and paid our excess before any of the claim process was progressed. The customer representative was nevertheless helpful, courteous and empathise ...with our inconveniences, especially when Christmas was near and through no faults of ours. While the claim process was smooth ,the length of time it took to fix a few broken glasses and a side gate lock simply took too long. The whole process of fixing was only completed in February 2021. Whether this is budget direct or their authorised contractor it is simply too long. Then next comes the renewal document. Premium increased by 50% plus just because one simple claim. Premiums are only known to go in one direction and if we continue with the renewal, the premium will eventually reach the moon. We called the customer representative and voiced our concerns and in the end, $6 discount was all they could offer. We have since obtained quotes from other insurers and despite declaring the claim, the premium was way lower. In this instance, it is only sensible that we be going with another insurer.
Budget Home Contents Insurance - They're cheap, but check what is covered!
I have a number of policies with Budget Direct and have generally been satisfied with them. That is because they generally offer the cheapest policies. Of course, the real test of any insurance policy occurs when you need to make a claim. I found this out recently when I had to make a claim for tenants who defaulted on rental and damages on my humble investment property. That was NOT with Budget I should add. However, what I learned was that I needed to pay attention to what my policy covered and what it didn't. As it turned out policy excess c...harges and exclusions really made the benefits of insurance somewhat limited. That brings me to Budget Direct who have provided Home and Contents Insurance for my house over many years. The renewal came round in early 2021 and I decided to investigate what my policy covered. While I had no problem with their Building Insurance the Home and Contents insurance was more complicated. Firstly in the Home and Contents e-booklet they provide you will discover that some things are not automatically covered. For example, don't go on a long holiday for more than 60 days without telling them. They may or may not offer cover beyond this time. Excess charges may also apply. Should you need to make a claim basic excess charges (often $500), there may also be additional excesses on top of that for some events. What surprised me and led me to abandon my policy with Budget was that I have an office I use to prepare work for teaching purposes and writing reports. That is where I keep my computer equipment, hard drives, modems, printers, etc. However, I do not run a separate business from there. Therefore I was told my office equipment would not be covered under the standard contents policy. Some items here would be the most valuable and saleable if a theft occurred, yet these were not insurable because my office was not regarded as a business entity. Sadly then it was goodbye to Budget Home and Contents insurance. My learning from this is to make sure that you understand the limits of claims that can be made for particular groups of items during claims. Budget Insurance has some stingy limits on some items. More importantly, you need to specify item detail and valuation if any group of items exceed the limit offered. For example CD's, DVD's Records, Tapes, Game consoles, hard drives (not computers) are all bundled together for a maximum claim of $3000. You must specify items and their replacement value if you want to get around these limitations. Extra premiums may apply of course. Taking out insurance is a smart move and creates a sense of security. Don't put yourself at risk because you didn't check your contents insurance policy details before you need to make a claim. That may prove to be the smartest move of all.
Still waiting on refund after 2 weeks
Purchasing a house in QLD, and the contract fell through. Cancelled my policy in the cooling off period. I have email confirmation about my full refund on 4/11, but still yet to see the refund in my bank account.
Called the call centre on 13/11. Refund still hadn’t been processed (sitting in a queue to process).
It is now 19/11. Still no refund.
WHERE IS IT?
I have checked with my bank, and they have no record of any refund being submitted as yet.
Budget direct may be cheap, but they take WAY TOO LONG to refund your payments.
Had to complete this process 3 times website wasn't working
Poor customer service and failure of the website created a bunch of rework. I couldn't get the cover I wanted. Poor support and they made me cancel and then re do it which was a waste of time for everyone!
No multi policy discount for customers who signed up last year
I have three policies with Budget Direct ( 2 Home and contents policies and 1 car insurance). When I signed up last year they informed me that I would receive a multi policy discount. They have since discontinued the multi policy discount after luring customers to sign up. This is not very good customer service. It will force us to look elsewhere and be rewarded for loyalty.
I has receive a invitation to switch my home and contents policy to you. You were offering me good discount, so I did and I have mentioned the deal, but I didn’t have any discount. Are your advertising discount is a joke or what? because it’s a gross misleading of potential customers!
To soon to tell
To soon to tell only just took out policy
No claims or any other contact proof will be in how much you charge next year and so on but looking to transfer another 6 policies
Over as they expire from other providers
The reviewer stated that an incentive was offered for this review
Not so sure.
Having notified the company of the extraordinary steps we have taken to ensure our house was covered in case of a fire with two 36 meter hoses a powerful pump all hooked up with copper to a 49,000 liter concrete tank as well as having a separate 5,000 litre galvanised water tank exclusively for the CFS we thought there may have been an appropriate discount but we're disappointed that was not even recognised.
Why pay more indeed.
Like most insurance companies you expect a premium increase of some sort. In my case, my house and contents insurance premium rose by a whopping 50% from last year. Some insurances (like this one) auto-renew each year so you have to get onto it when the renewal paperwork arrives! It seems to me that part of the game is hoping that people are too lazy to do anything about it. Exactly the angle in their ad campaign.
Anyway, new insurance sorted!
Excessive renewal increases
We have been with Budget for a few years with 2 homes and 2 cars. Our home has come up for renewal and although we have had no claims for it and it is not in bushfire or flood areas, we were given a 30% increase in premium!! We rang to question this and were told that as nothing has changed with our house to justify a reduction, we would just have to accept it! Apparently we have the pleasure of contributing to their coffers to pay for claims by others in susceptible areas. Not good enough. The only way to protest is with our dollars and remove all insurance from this company. It is a shame because they appear to do some things quite well. However that includes price gouging in our opinion!
Cheap to start with......
The online application is easy and they save you money to start with. At first year renewal, the bumped the price up $60/month. No claims were made, and in fact, we'd taken a whole house out of the policy (house was sold). Guess they wanted to recoup some moeny from us? We're going elsewhere
Policy premium was competitive and inclusions could be negotiated . Should look after existing customers. Making a claim was easy and well dealt with but look out when renewal hits, ouch!
Good price for the first year, then premiums jump massively
I think this company is trading on the hope that people are lazy. They rope you in, in the first year with cheap insurance and then increase the premium by 30% when time comes to renew - even if there are absolutely no changes to flood/fire risk, crime rate etc. While I'm sure a bunch of excuses will be trotted out, this seems to me like unethical practice.
Budget Direct Home and Content Insurance
4 years- Read your fine print. We were not covered for water damage. They seem cheap and have an award for "Money Magazine insurer of the year " but in fact it is what they don't tell you. Increase price of $946.50 per year in premiums did not cover water damage in bathroom! They told us initally that we would receive a payout of $17000, then they rejected it under the classification of wear and tear. Consumer be mindful what you are paying for, read your fine print and ask questions. In hindsight they aren't value for money at all.
Questions & Answers
Are property fences and retaining walls covered?
Hi Leo. Thank you for taking the time to contact us. Please feel free to email us at email@example.com, and we will be happy to provide further clarity on any questions you have. We look forward to hearing from you soon. Kind regards, Budget Direct.
I would like a quote to insure house and contents for a weatherboard house in cairns
I just went to budget direct.com.au and clicked the get a quote button and filled in the required information and a quote is emailed to you simple as that .
Hi Rosemary. Thank you for taking the time to contact us. Please feel free to email us at firstname.lastname@example.org, and we will be happy to provide further clarity on any questions you have. We look forward to hearing from you soon. Kind regards, Budget Direct.
Does Budget Direct home insurance cover the subsidence, land settling or collapse?
Hi, thank you for reaching out. Our policies provide cover for insured events. All this information is located in our Product Disclosure Statement on the website at www.budgetdirect.com.au. If you need any assistance please feel free to chat with us when you are online and we will be happy to assist. Cheers, Budget Direct.
Get an answer from our members and Budget Direct representatives
|Category||Home and Contents Insurance|
|Other Insurance Types Offered||Car, Health, Home and Contents, Landlord, Life, Pet and Travel|
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.