What Insurance do I need on a rental property

Viewing 5 posts - 1 through 5 (of 5 total)

Asiababy
Participant
@asiababy
Join Date: 2004
Post Count: 7
October 23, 2004 - 3:17 am
Hi,
I am about to rent out my apartment…can you tell me what insurance I should take out (any and all types) I currently have insurance through the strata company on the building.
Thank you
Asiababy
Derek
Member
@derek
Join Date: 2004
Post Count: 3,544
October 23, 2004 - 4:30 am
Hi Asiababy,
Ensure you have landlords insurance which includes sufficient cover for your ‘belongings’, public liability within your unit, and coverage for accidental and malicious damage by tenants.
Ensure your body corporate has sufficient building insurance and public liability for common property.
Fiinally depending upon the nature of your employment and health you may also want to investigate income protection insurance.
Derek
[email protected]
Property Investment Support Available. Ongoing and never stopping. PM welcome.
collector j
Participant
@collector-j
Join Date: 2004
Post Count: 41
October 25, 2004 - 12:13 am
Hi Asiababy,
We use a company called EBM, there a landlord protection insurance ie( loss of rent, mal damage etc 1800 800 544/ http://www.rentcover.com.au).
Give them a call, and compare qoutes.
cheers
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]
Domo
Member
@domo
Join Date: 2004
Post Count: 76
October 27, 2004 - 7:05 am
Asiababy
I Decided to go with Terri Scheer as they seem to offer a little bit more that the others that I looked into . I must say all the policies were similar.
In the policy if children or pets break something it is not covered but I spoke to someone who advised me that what usually happens is it can be claimed as an accident which is covered ????
The other thing I found out about building insurance some policies only cover the building if you are living in it so it’s a good idea to check.
Good Luck !!
lukis p
Member
@lukis-p
Join Date: 2004
Post Count: 47
October 27, 2004 - 8:35 am
My partner was a property manager for numerous years, terri schere insurance was great with most of the claims being paid out.
We have 4 ip’s and are dissapointed with the lack of customer service from a more well known company (E_ _) we have tried to change our postal adress 3 times with them but they continue to send the renual to the properties insured… Plus we were knocked back on a valid claim 8k of tennant damage +unpaid rent.
They did not know state specific law (regarding to W.A.fences)my partner challenged them on this and they paid for the repair,eventually.