joff_nz:

 

Fred99:

 

I expect that price for contents insurance will go up considerably - if proposed changes to EQC do exclude contents from EQC natural disaster cover.

 

 

 

 

Yes and based on age, our life & trauma premiums will start to rise considerably over the next few years too for the same sum insured

 

Well I agree that it's probably good idea to review needs.  Not sure however that without considerable assets/investments, no life insurance is a good idea - especially with kids.  I cancelled our policies a few years ago, but no dependant kids (old enough to support themselves), no debts.  I think my wife does still have some, as well as income protection, but that came with the job.

I do not like insurance companies, but they're a necessary evil.  My opinion severely tainted by 3 year battle to get a few hundred thousand dollars out of them for earthquake repairs. Sorted in the end, but I ask myself if it was worth it - in that had I not had insurance, I would have just damned well fixed my house and saved three years of grief.  But not everybody could be in that position.

I also had extremely disappointing experience with private health cover.  By the time exclusions and limits came in, the "80% cover" was actually less than 50%.  How does this happen?  Well - when you're signing up for a policy, they know what "real" costs can be - you as non-expert have no real idea.  Nasty surprise when the best medical advice is recommending something other and more expensive than the maximum covered under your policy.  Nice room though - had Sky TV.