Just suppose you were going thru a messy divorce and you wanted to buy your partner out, would you be happy with this valuation? well honestly would you?
Ish, do you think it might be possible that he (or she) has read the same report that you have, that has encouraged you to buy property so far away from where you APPEAR to be based?
If this is the case, well, ‘no’ he is not being greedy, the question is, are you being ‘tight’ remember us country folk ‘know’ that city people are cashed up and desperate and will pay
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So you are covered for rent for 52 weeks in the event of ;
1. Accidental Fire ?
2. Deleberate Fire ? NO
3. Act of Nature resulting in Fire ?
1. yes
2. no
3. yes
I will quote from the policy, abbreviated where neccessary,
“Fire.
We cover loss or damage caused by fire.
But not if,
* fire started intenionally, by person living in property or have entered with your consent or tenants consent.
* bushfire for the first 48 hours after the start of this policy,
however, we will cover within 48 hours if immediately before you took out this policy,
– risk passed to you as a purchaser
– you signed a lease contract
– your policy commenced immediately after anotherpolicy expired without a break.”
So if this fits what your after, give NRMA a call to confirm for your own due dilligence.
I just received a quote from NRMA for building, contents and LANDLORD insurance all rolled into one, and they will cover for accidental damage to property, and, loss of income (rent) for up to 12 months if the property is accidentally destroyed ie. burns down. I think the key word is accidental they wont cover malicious damage.