Promina subsidiary Australian Pensioners Insurance Agency (APIA) has scooped the pool in the latest Choice magazine examination of house and contents policies. The results, which will be officially announced later this week, rate APIA highest in most of Choice’s recommendations and top in an associated customer satisfaction survey.

The Australian Consumers Association-owned magazine says 40% of respondents indicated they were “very satisfied” with their home and contents policies, with the main criticisms being reserved for high premiums, poor value for money, restrictive policies, complicated claims procedures, poor customer service, inconvenient locations of branch offices and policy exclusions.

The article says that although the Canberra bushfires early this year reinforced the importance of home and contents insurance, there are “still holes and traps” in some policies.

Apart from APIA, the consumers’ “very satisfied” choices were (in order) Suncorp Metway, AAMI, RACWA, GIO, Westpac, CGU, NRMA, RACV, Comminsure, RACQ and Royal & SunAlliance.

The Choice recommendations are:

Best home building policy, defined events: APIA, EIG-Ansvar, R&SA, Australian Unity, Westpac, HBF, RAA, RACV and GIO.

Best home building policy, accidental damage: APIA, Australian Unity, EIG-Ansvar, Westpac, ANZ, CGU, St George, HBA, Allianz and Elders.

Best contents policy, defined events: COTA (Council on the Aging, underwritten by Allianz), APIA, Australian Unity, CGU, HBA/Mutual Community, St George, EIG-Ansvar, HBF, Australian Unity and GIO.

Best contents policy, accidental damage: ANZ, APIA, Australian Unity, COTA, CGU, HBA/Mutual Community, St George, EIG-Ansvar and Westpac.