Landlord Insurance

Hi Don and Liz,
Re: Barclay Debt Collectors
No I haven’t made a claim with Barclay, but they have sent out letters of demand to tenants which works very effectively.

When I first started in proprty investing (which was only a few years ago) I couldn’t beleave that we are all insuring our tenants. It should be them taking out insurance incase they can’t meet their obligations or they damage some bodies property.

Barclay relize this and make the tenant accountable for all the damage, loss of rent, even cleaning up after they leave.

They have two levels of cover. One is they pay you straight away at a cost of $198. and the other cheaper plan is they pay you when the money is retrived at a cost of $44. NO EXCESS, NO WAITING.

It’s inportant to remember that if you decide to have this instead of Landlords protection, make sure you still have public liability insurance. Particuly with Strarta Titles as the Body Corporate Insurance DOES NOT cover Public Liability Insurance in you lot area.

Web site http://www.barclay.com.au

Have a look, it’s a good site as well.

[rolleyesanim]I may have given the wrong site addresss. Sorry, try this one.

http://www.barclaymis.com.au

we recently had a ute stolen, the cost of the car was $5K, we claimed it.

It took a private detective to come in and interview every member of our house for 3 hours each before the insurance co paid the $5,000.

Honestly, my time is worth more than that, for a measly $5,000. I would rather go out and buy a new car and not have to go through the b^%%%it of the insurance claims

We buy properties in Adelaide. Immediate Cash Settlements, No Real Estate Agents, No Fees.
[email protected]
phone 0412 437 582

Insurance companies are in it to make returns for shareholders, not to make life easy[biggrin]

They always have a “WRIGGLE OUT CLAUSE” in the fine print IMO, so they can do exactly that. Sometimes it is cheaper to fight you than pay you.

CATA
Asset Protection Specialist
[email protected]

Oh Dr X, you are going to hate me. I am a lawyer AND I used to work for insurance companies.

But I’ll redeem myself here. Insurance companies have budgets to meet. Their initial stance (by non lawyers) is to reject all but the most obvious claims. They then (again by non lawyers) try to negotiate to THEIR best outcome. Most clients accept the initial rejection.

Don’t accept the rejection. Dispute it long enough to go through to their lawyers who will then have to do a risk analysis. Is it worth the money they will spend on lawyers to continue to dispute the claim? Usually, if you push hard enough, the insurance company will accept the claim because it is far cheaper than litigating it.

I have made a number of insurance claims for various things and have always ended up having them accepted. I once even got a $12,000 new bathroom when the initial offer was $150 to repair the damaged ceiling in the room below the bathroom.

Just wear them down. Small claims are just not worth their while disputing.

Cheers

K