Allianz Home Insurance


Readers share: Lessons from Mark’s first home buying experience

by Chris Lang on December 7, 2012

Key to your new house

Here’s what Mark learned when he bought his first house:

“I moved to Australia and bought a small house in a small mining town in central QLD, working at explosives plant. I used the first time buyers allowance and got the house for $28,000. I got insured against long term illness from work, to protect my mortgage.

7 years later after an open heart surgery I was told I had to give up work, I went to my insurance company, and with all good intentions answered a question “Will you go back to your occupation?”. I put down “Yes I would hope I could”, and they tried to reject my claim because there was a clause that said if at any time you can go back to doing your line of work you wont get paid out.

Let this be a warning to you about sickness cover, ask that question , I could have lost everything because in my pride made me think I could go back to work – but I really couldn’t and was doing the right thing.

At the end I won my case against the insurance company, sold the house for $175,000 and decided if I ever got a cover – that would be the main question to ask, you can think you’re covered, but they slime their way out of paying out if they can, beware.”

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