My property and landlord's insurance seems to have gone up quite a bit this year (2011).
I have two 6 year old small houses on a subdivided block in Tailem Bend, South Australia.
Both are tenanted and an agent is looking after them for me. My next bill for both these is $989 (total) with Calliden (Australian Unity).
I would be grateful for any suggestions or views on this.
cheers and thanks from TheresaI use Terry Scheer for most of mine.
Grab a few quotes – Terry Scheer, Onepath (ING) and Real Insurance are generally quite competitive.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I use EBM Insurance.
I use Terry Scheer too, I did get a cheaper quote one time from my car insurance company but comparing all the features, I decided to leave it with Terry Scheer cuz they specialise in land lords insurance, of course I alway get a requote every year to make sure i'm getting the best value for $
Thanks everybody for your comments. I have just requested a quote from Terry Scheer and will follow up on other companies
as suggested.Just wondering if someone can provide some advise on the type of insurance required for a new landlord.
I just purchased a Strata title 1 bedroom apartment. What type insurance should I be taking out for this? Is it only landlord insurance or some other as well?
Thank you in advance
Lucigoosey,
House and Contents insurance should be what you are looking for. Make sure you go through the property and take into consideration what the place could lose and what it would realisticly cost to replace it. I had my H&C Insurance pegged at 8k replacement for a couple of years on one property until i realised i had about 20k worth of kitchen and bathroom fittings to lose on.
Your Body Corporation/ Owners corporation should be covering the common areas. Make sure they are .. and that payments are kept up to date.
we manage our own property does anyone know of a company that will give us land lords insurance most we have found only insure you if it is managed by a agent
Terri Scheer are without a doubt the most comprehensive policy I have ever come across. Its $265 per year per property, and there is multi property discount so it goes down a bit too. They just pay out in more cases than bank related products.
If you are privately managing, the best one I have seen was through SGIC, but of course have not made a claim or anything like that with them, but it looked to be a much more comprehensive policy for private management.
Avoid TSI for property insurance. They may have been good in 2011, but were bought by Suncorp. My experience was ABYSMAL (and still is – one claim for storm damage has been going on for 7 months) Find another insurer!
You have to watch out for how some of the insurers cover “contents” in unfurnished rental properties. Contents would be your carpets and window coverings basically. As an example, EBM has a standard $50k coverage on these, which is astronomical on say a 1br unit. Thus one example of where high insurance premiums come from.
I find AAMI to be fantastic for dwellings that they’ll insure. GIO’s rates are good on not-so-conventional properties, but they are very painful to deal with.
CGU is always great for a balance between pricing and quality of service.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
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