When can I start claiming?

Viewing 4 posts - 1 through 4 (of 4 total)

gng
Member
@gng
Join Date: 2011
Post Count: 35
June 27, 2011 - 12:40 pm
Hi,
When buying IP and become unconditional, passes all the special condition, I think, correct me if I'm wrong, is generally a good idea to get insurance even before the settlement date. Does that mean I can start claiming on the insurance payment before the settlement date?
Catalyst
Participant
@catalyst
Join Date: 2008
Post Count: 1,404
June 27, 2011 - 9:48 pm
It is a good idea to get insurance (on a house) in case the owner doesn't have any. If they don't and something happens before settlement you can approach your insurer. Not sure about claiming (I assume so) but you are worrying about less than $20. Your accountant will let you know.

ksherwell
Member
@ksherwell
Join Date: 2007
Post Count: 125
June 27, 2011 - 11:57 pm
A number of real estate agents offer free insurance via RACV until settlement.
Good idea to check this out
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
June 28, 2011 - 11:40 am
Catalyst wrote:
It is a good idea to get insurance (on a house) in case the owner doesn't have any. If they don't and something happens before settlement you can approach your insurer. Not sure about claiming (I assume so) but you are worrying about less than $20. Your accountant will let you know.
Agree with Catalyst. It's a huge peace of mind for such a minor cost. I wouldn't rely on any other insurances from any other parties (vendor or REA) being in place.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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