All Topics / General Property / When to commence Landlord Insurance on Investment Property ?

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  • Profile photo of AM2778AM2778
    Participant
    @am2778
    Join Date: 2010
    Post Count: 48

    Hi All,

    I have paid a deposit on the Investment Property on March 28 based on the unconditional approval from the Lender.
    The settlement is due on May 1.

    When should I take out Landlord Insurance on the property –
    1) Should I be taking out the Insurance from when I paid the deposit? or
    2) Should I be taking out the Insurance from the Settlement Date?

    Any advice on this matter will greatly be appreciated.

    Many thanks
    AM

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi AM,

    Mate it is different in each state but definately in QLD you need to insure the day you sign contract
    while some others the day it settles.

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of MilkTruckMilkTruck
    Participant
    @milktruck
    Join Date: 2010
    Post Count: 15

    I am in VIC and I took it out once I had an interest in the property, ie. I had signed the contracts. It’s not very expensive for 30-90 days of settlement. MT

Viewing 3 posts - 1 through 3 (of 3 total)

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