- BreakEvenParticipant@breakevenJoin Date: 2006Post Count: 80
Ive got a property in Brisbane where the tenants are getting a bit physical with each other (and not in a good way).
Apparently the domestic arguements have been getting worse – resulting in a smashed window. The neighbours also tell me that they sometimes hear thing being thrown around.
Hello Landlords Insurance… !!!
Im checking out what Landlords Insurance deals are available online. But can anyone reconmend an insurer or good deals.
If you don't yet have landlords' insurance, I doubt you could get it to cover these existing tenants. It would be non-disclosure (fraud) not to tell them about the smashed window, and once they hear that, I can't imagine they'll want to take those tenants on. I could be wrong, but I think you've left it too late… make sure you have it in place before the next tenants and keep your fingers crossed that this time your gamble (ie not having insurance) hasn't cost you too much!
Regards, TraceymillionsParticipant@millionsJoin Date: 2005Post Count: 355
It sounds like my friends neighbours in Beenleigh.L.A AussieMember@l.a-aussieJoin Date: 2006Post Count: 1,488
Landlord's Insurance is a must for this caper; no matter how good the area or the property.
It's a tax deductible cost of doing business.
Certainly ring up someone like CGU, of Property ONE, and ask a few questions about it; tell them you already have a tenanted property and see what they say.
I don't know that the current situation with the tenants will be an issue; they may ask.
I'm sure they will cover you, but it may be more expensive than doing it from when you buy the property. I don't know, as we've always had it from day one.BreakEvenParticipant@breakevenJoin Date: 2006Post Count: 80
I dont expect Landlords Insurance to cover the broken window, and Im not suggesting otherwise. I was just thinking that given the is obviously potential for future breakages etc. They broke the window, so they need to fix it… simple….
Generally they are really good tenants. Nice people who look after the place, never defaulted or given me grief…
Its just that they are getting a bit excited….
Lots of people seem to be with CGU…??
I haven't taken out a landlord's insurance policy for a while (I have commercial properties at the moment), but I do find insurance brokers are generally worthwhile, and here's one that specialises in landlords' insurance (no affiliation, nor a recommendation – I just found them using google):
Tracey in BrisbaneScott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856
The risk is no different to when you change insurers as you have found a more competitive price – it shouldn't cost any more, so shop around.hleungParticipant@hleungJoin Date: 2007Post Count: 141
I've used Elders for 9 years. Reasonable premium, good service and benefits are very competitive. I've found the bank products to be confusing.MacnattMember@macnattJoin Date: 2008Post Count: 53
I actually work in insurance and have gone with Terri Scheer for my landlords rather than the company I work for (and get huge discounts from). The main reason is that they are specialist landlord insurers and that they cover not only malicious damage by tenants which can be hard to prove but also accidental tenant damage which is less difficult. They obviously also cover things like rent default and professional service for a tax audit on rental expenses which I have used recently and found their claims process easy to use. Their landlords cover is not comprehensive for the building so you would need separate building cover which they also offer as a separate product . I use the company I work for for this. Some building insurers will offer a small amount of extra insurance if the property is an investment but it is really not very comprehensive. I always think you wouldn't go to a knee surgeon to fix an eye problem so go with the specialists in their field.
Hope this helps.
Thanks, Nat, for the feedback. I'll definitely keep this in mind for next time I need a landlord's policy. I'm generally a fan of using specialists anyway, but it's good to know that you've had good experiences with Terri Scheer.
Regards, Tracey in Brisbane