Keep away. Any loopholes they will use
Had elders landlord insurance they are an agent for QBE .?when I was trying to make a claim I was always put on hold for hours. I had to chase my own cost in court from rent arrears and damage. Long story short I had a loss in court because I couldn’t prove that the tenants did the damage because of no photos (dated and signed) before they rented . I couldn’t win in court so they refused to pay me what I was rightfully owed. The rental system is a joke if your not a Realistate agent. Elders insurance takes full advantage of a unfair system
QBE insurance hiding behind agents and representatives and acting in bad faith
Battling with a corporate labyrinth
I re insured my property portfolio with Elders Insurance Midland Western Australia dealing with their principal ,they offered their insurance quote as Elders Insurance AFS license 340965 their quote for all properties was competitive 5 commercial properties and 1 residential house which they were informed I had been renovating and restoring for 25 years . Elders were fully aware that the property was being used for garaging some of my car collection and home architectural endeavours with my cad computer systems and antiques awaiting restoration and that I resided at other addresses in WA and overseas having a farm renovating another house and business interests and work overseas.
AS THEY SAY INSURANCE IS ONLY GOOD WHEN YOU NEED IT
Disaster struck one weekend October 2018 when I was in the country at our farm .
The house was broken into and ransacked with 4 other houses in the street.
Damage and theft with the accompanying disgusting mess that drug fiends tend to leave behind marking their conquests . Arrests were made but almost no goods recovered, police did not give any further details other than that the offender-s were arrested charged convicted and extradited to the eastern states
Claim submitted to Elders midland who accepted the claims and wanted to appoint an assessor to which I agreed . Elders could not set up an inspection by the assessor before I was required to take an overseas trip to China and Japan ,
Elders were duels informed of my time away . The property was fully secured .
Then disaster strikes when I am away a further more profession break enter and burglary almost totally stripping the house of anything easily removed . I had to ask tradesmen working for me to make good, secure and make police report .
On return from overseas I did an assessment of damage and loss and submitted another claim to Elders Midland . Assessor attends and takes a cursory look without entering the garage or office and seeing a ransacked property where all possessions had either been stolen or piled up in rooms throughout the house , balustrades had been damaged and decking lifted . The buildings were not perfect some of the structure built in the late 1800's thru to by me 30 years ago
The assessors only comment was that he may need more info and the items claimed be adjusted he also asked whether I slept at the property and I replied not lately but that the property was occupied for upwards of 22 hours a week working on architectural projects , cars and interior work on the house .
After 2 months wait all claims are rejected on the basis of non disclosure that the property was unoccupied . I then find out Elders Insurance midland refuse to communicate or respond to all correspondence despite information on the claim to "talk to our claims consultant" no mention of QBE and I am referred to elders customer relations department in SA given a complaint review number and apology for Elders Midland inaction .
A month passes and I start investigating elders insurance no further interaction with elders claim department despite their code of conduct requiring response within 10 days
I find out that Elders Insurance Midland is not my insurer they are merely a Corporate Authorised Representative of Elders Inurance (Underwriting Agency)Pty Ltd ABN 56138879026 also known as QBE Insurance (Australia)
all my contracts ,correspondence and payments have been with Elders Insurance Midland and Elders Insurance but in the words of Elders insurance lawyers "any action for breach of contract for refusing to grant indemnity under the policy , any such claim is properly directed at QBE as the named insurer and the party who underwrote the Policy " ( I have found no mention in my documents that QBE is the named insurer )
I feel totally conned by Elders insurance and QBE for hiding behind this corporate maze designed to avoid responsibility for payment of claims with a structure designed to confuse and frustrate
MY WARNING FIND OUT WHO YOUR INSURER REALLY IS AND IF QBE IS INVOLVED AVOID AT ALL COSTS AND DO NOT TRUST ANY OF THEIR AGENTS AS THEY TAKE NO RESPONSIBILTY AT ALL AND FOR ME HAVE ACTED IN AGRAVATED BAD FAITH
and it seems ANZ
Maybe many more hiding out there behind agents and other entities
MY QUESTION IS -IS ASIC DOING ANYTHING ABOUT THIS SINCE THE EXPOSURE OF THE BANKING ROYAL COMMISION
Claims EK0058755, EK0058756,EK0059645,EK0059646
After this bitter experience and unfinished business with Elders Insurance and by default QBE my insurances are now elseware
Except until this matter is resolved my house is uninsurable and Elders will not confirm as to currency of my existing insurance with them and they have not cancelled it just refusing to communicate at all
BE WARNED QBE are devious and unprincipled they do not offer insurance in good faith for them premiums are just income
Hassle free and fixed right.
We ran over a large rock that fell from a tipper truck, we managed to get some paperwork to confirm the incident, Elders Insurance told us we may have to pay an excess if they have no luck tracking down the truck, 2 days later they called to say there was no excess and we could go ahead and get our car repaired. There was just under $3000 damage to the suspension and steering caused by the large rock. Within a week the car was fixed by our own mechanic and was back on the road as good as new. Elders might not be the cheapest insurer on the planet, but they have good old fashioned service from Australia and not some oversees call centre. You really do get you pay for.
Questions & Answers
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.