All Topics / Help Needed! / land lord insurence

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of daniel vicdaniel vic
    Participant
    @daniel-vic
    Join Date: 2013
    Post Count: 120

    hi iam iam seeking advise on which companys people are using ,,,,

    i have a ip in newborough vic 1979 outside is built from polystyrine, colourbond roof, tenets renting it and a agent looking after it my

    my questioin is i have had a health check from the bank in the last few weeks and they got a quote to me of $50 a month $594 a year for coverege of rent cover of like 12 weeks if house like burned down tenets didnt pay rent etc etc ..

    . $200,000 rbuild

    $5000 contents

    $500 excess

    $250 rent                            does this seem a bit expensive?

    regards daniel

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    12 weeks is 40 weeks short of what is required if you are to rebuild a house.

    Profile photo of Colin RiceColin Rice
    Participant
    @fms
    Join Date: 2011
    Post Count: 338

    Contact an insurance broker to do some leg work on your behalf or ring around to get some quotes to compare. 

    I have heard good things about Real Insurance. 

    Colin Rice | CDR Finance
    http://cdrfinance.com.au/
    Email Me | Phone Me

    Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404

    Use Terry Scheer or EBM. They are Landlord insurance specialists.

    Most of the general insurers don't have as much included. Read the PDF CAREFULLY.

    BTW $594 is WAY too expensive.  Mid $300 is normal.  Edit. That's in NSW. Not sure how it is in Vic.

    Profile photo of jatejate
    Participant
    @jate
    Join Date: 2013
    Post Count: 26

    My buyer's agent organized a new policy for me a policy via EBM, Seems to be ok. $285 for a Victoria 2 Bedroom Unit.

    Are EBM (Insurance Brokers) similar to how Mortgage Brokers kind of operate? In that they will search a number of deals for you then present the best one to you which suits your needs then you deal with the company then directly? 

    I ask because it seems like my policy is direct with EBM itself and deal with them directly unlike a mortgage loan after the initial setup you pretty much deal with the bank itself.

    Does that sound right?

    Profile photo of daniel vicdaniel vic
    Participant
    @daniel-vic
    Join Date: 2013
    Post Count: 120

    hello thanks guys means alot 

Viewing 6 posts - 1 through 6 (of 6 total)

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