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Hi
I question if you need a 10k tank? You would only need a tank large enough to hold enough water for the pump to work. The pump will need to be of sufficient size to pump out the water as fast as it is coming in. This will depend on the roof size and the one a hudred storm that will dump up to 400 mm on your roof in an hour. What will trigger the second pump to cut in, in the emergency? For me the key is how the pumps are set up and the best place to go is an agriculture pump place. They can calculate the flow rates from your roof area and the size of the pump and the piping you will need.
One thing is for sure, I would rather work with the pumps than with the neighbour!Hi Jaffasoft
With insurance you should be aware that insurers will do what they can not to pay a claim. Even if you have the best policy wording it does not mean they will pay the claim. There are more insurers than what has been noted in these posts. There are firms that specialise in landlords insurance and they are constantly dealing with claims and know what they are doing when it comes to claims. There is nothing more frustrating than having to deal with people who do not know the insurance product they are selling and then cannot handle your claim. I also work in insurance. And I still recommend you find a broker who knows landlords insurance. When you have a claim, and you will, they will handle it for you and ensure the insurance company pays the claim. I agree with Noddynol, the greatest risk is tenants defaulting on rent payments and tenant damage. I was involved in a claim a few years ago that involved tenant default and tenant dmage. The claim was over $10,000, and the insurance company paid it. You should also consider the lost rent while the house is being repaired. CheersHi Jaffasoft. With insurance you have to be careful of what is excluded. The best insurance policy is one that is simple and easy to read, with very few exclusions. You do get what you pay for with insurance, so if you go for price then you will get a complex insurance product that not even an expert will know what you are covered for. It is best to get a broker who specialises in Landlords insurance, as they will know the policies well and can advise you on the best policy to suit your situation and needs and it is worth paying for the peace of mind. If the broker does not ask you enough questions they are trying to sell you a product or they do not know enough about landlords insurance and you should try another one. The internet is a great place to find a broker who specialises in landlords insurance. The insurance companies produce a product and it is up to us to ensure the product suits our needs, it is not for the insurance company to do this. Also be careful of the policies that do not include all the covers and you have to add the covers on. These policies start out at a good price and then can be the most expensive on the market after you have added it all in.
Cheers and happy insurance hunting.
