Hi Investers,
Do’s anyone know whether landlord insurance axist as every time a ask a so called professional they give me a grey answer[rolleyesanim]
Property educator Hans Jakobi said there is. Apparantly you can claim tenant damage and loss of rent due to vacencies which is appealing … please shed some light on this one for me sombody[cap]
try this mob, they are very good.
just give them a call and ask all the questions you wont. they dont mindcheers
shaunLead, Follow or get out of the bloody way
You can try http://www.cgu.com.au …
Personally I am surprised you have not heard of it from your lender.
When I get my loans from the bank, they never fail to offer me their other products as well like LL ins, free Financial planning, etc.
Guess your loan officer must be feeling lazy during your loan proces .. [suave3]
Thankyou very much Matt,bennido and shaun for your responce I’m going to get intouch with all of those company’s…………Fantastic
[red]bennido my very first investment loan(for two property’s I say proudly)
have to be signed in with the bank tommorow (hopefully) so they havent yet bombarded me with this info …..but it will be interesting to see whether they treat me as professionally as they treated you…………..which bank ? [lmao]
you might ask well if there service is sh…
I’ll let you knowThere must be at least a dozen providers of landlord insurance.
I know some will not insure a property if it is not managed by a property manager.Tax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auAsk lots of questions like with the excess, how is it calculated etc. We have jsut put in a claim and becaseu the police don’t consider it “malicious”, the insurance ocmpany therefore take it as accidential even though there’s 3 broken windows, fire damamge on the floor on one room, hole in two walls at opposite ends of the house etc. HAve put in the claim and they are saying there will be an excess for each accidnetial incident. How do you prove what’s done as one incident and what was done over two, three or four. They suggested an excess per room, whihc isn’t very impressive as that would be an excess of $2,800. Still saying that, we’ll still be a lot better off with the insurance then if we hadn’t had it all. Also check if cleannig is covered, as the insurance company we are with state that cleaning comes out of the bond and isn’t covered. Out cleaning bill is curenlty $1700 (including fumigation as cockraoche infested), bond is $700, therefore we’re $1000 out of pocket there.
So, ask lots of questions as we didn’t realise the accidential damage bit would be per incidence and not per claim.
Like i said, we’re still better off from having the insurance as we’d be even more out of pocket otherwise, so glad we do have it, but I’ll be asking more questions of other companies in the future to try and find a better one.
However, it may be that this is standard.
Hope this helps.
PKWe use Elders Insurance and they can cover damage by tenant and rent default along with the usual building & contents.
AJBS
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