With all the fuss about interest rates and how much banks make per year, I was astounded to find there is a cancellation fee of $20 for Home/Contents insurance with CommInsure. Having only signed up some 6 months ago, I was not told about this fee. I found a cheaper quote from another insurance provider and took the offer.
It’s interesting how Commonwealth Bank deals with customers who no longer want their products. I have so far saved about $45 per month on insurance products with AAMI when compared to CommInsure.
Considering how much money these bank executives make, to charge a cancellation fee for insurance products is deplorable to say the least.
Have a beef with a bank, comment below.
I was surprised by the cancellation fee as well.
Nice website, came accross it whilst searching another business you had reviewed. Review was spot on. Might be worth noting AAMI also charge a $20 cancellation fee though. . .
great post as usual!