All Topics / Help Needed! / good insurance company for property insurance in brisbane

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of henrymelbournehenrymelbourne
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    @henrymelbourne
    Join Date: 2013
    Post Count: 6
    September 13, 2013 - 1:49 am

    Hi, everyone: I got a rental house in archerfield, brisbane. It was affected by 2011 flooding. The insurance called Vero is Ok to pay money to fix damage. But my premium was increased substantially in the next 2 years. IT is about $102 for a 3 bed high set house now. Is it normal? Anyone has some better insurance company which charge reasonable fee and still cover flood damage. thanks 

    Profile photo of henrymelbournehenrymelbourne
    Participant
    @henrymelbourne
    Join Date: 2013
    Post Count: 6
    September 13, 2013 - 6:22 am

    Hi, Qlds007: the premium is about $102 per month now. It used to be around $38 per month.

    Profile photo of NQ6NQ6
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    @nq6
    Join Date: 2012
    Post Count: 6
    September 13, 2013 - 7:55 pm

    Henry  thats not a bad price,  would be keen on hearing if  you can find a better price, try RACQ they now have full flood cover, i've found them ok.  Insurance is becoming a huge cost for property investors, a cost which needs constant  checking, Insurance co's seem to be able to  charge what they like. The only voice we have is to dump the  rip off ones and  support the one's that want your business.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    September 14, 2013 - 8:22 am

    Hi Henry

    Are you saying the premium is $102 per year?

    If so I wouldn't think about ever changing.

    I would need more details to be able to give you a premium.

    Cheers

    Yours in Financing

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    September 14, 2013 - 8:23 am

    What is the rebuild amount and the weekly rent coverage ?

    Do you have Tenant default cover also ?

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    September 15, 2013 - 9:20 pm

    Hi there

    I'd focus more on the inclusions and the insurers track record of paying out rather than  the monthly cost. Cost is always a factor but shouldn't be the primary motivator when choosing an insurer, especially if it's on a flood prone area.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

Viewing 6 posts - 1 through 6 (of 6 total)

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