Geelong Indy - 11th November 2016

Friday 11 November 2016

geelongindy.com.au

5249 6700 indy@geelongindy.com.au

Time to light Christmas in Geelong P11

Elaine better than Average

It’s Kiss and makeup at Sphinx P19 MP slams insurance giant in federal parliament Elaine Valentine gets into character as ‘Edna Average’ for her annual appearance at Geelong’s Gala Day tomorrow. FULL STORY PAGE 7 Picture: Luke Voogt

Fire victims ‘screwed’ An insurance giant is “trying to screw” clients who lost homes in Wye River’s Christmas Day bushfire, federal parliament has heard. AAMI Insurance was refusing to cover full rebuilding costs for “a number” of policy-holders who should have total coverage, said Corangamite MP Sarah Henderson. The shortfall could reach $250,000 for some AAMI clients, she told parliament. Ms Henderson read out promotional material for AAMI’s complete replacement cover.

“If your home is damaged or destroyed by an insured event, we’ll repair or build it no matter the cost to us,” she quoted. The insurer’s failure to keep its end of the deal was “disgraceful”, she said. “The problem is AAMI will not rebuild the home itself – the policy does offer this discretion – and it is refusing to provide sufficient money to cover the cost of the rebuild. “In at least six cases AAMI is underquoting the cost of the rebuild by between an estimated

$100,000 and $250,000. “In a number of cases, AAMI will only reveal the lowest quote to rebuild and refuses to release any funds so policyholders can get architect plans drawn up, which is required for an independent costing.” AAMI was also using companies without enough local knowledge to satisfy bushfire attack level requirements, Ms Henderson said. “These companies also carry none of the risk of rebuilding, meaning there are no consequences

for them for underquoting or not providing sufficient contingency.” The insurance stand-off, almost a year after the fire, was forcing owners with mortgages on destroyed homes “to the wall”, Ms Henderson said. She accused AAMI of “frankly, trying to screw them”. AAMI was “committed to resolving these claims as a priority”, the company told the Indy. Continued page 3

NEED A NEW CAR? for the BEST & CHEAPEST cars in Geelong check out

5229 8505 ww.geelongloans.com.au Australian credit licence number 384993

12328856-ACM43-16

1182643-LB18-15

OPEN Mon-Fri 9am-5pm Sat 9am-12pm

ph 5223 2143 Corner Forest & Heales Rd Lara Ph: 0407 044 921

Heales Rd TILLY’S

To Lara

• First 20 callers will receive a free property report

Forest Rd

• Investment Property Finance

• Blinds • Curtains

12330399-HM45-16

• Save time let us compare 1000’s of loans for you • Home Loans and Reinancing

PLANTATION SHUTTERS

Melb y - To es Hw

Princ

384 PAKINGTON ST (RIVER END)