All Topics / Help Needed! / Liability cover

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  • Profile photo of aliyeealiyee
    Participant
    @aliyee
    Join Date: 2004
    Post Count: 16
    March 21, 2008 - 10:13 am

    Hi guys,

    Just a simple question.  We are currently reviewing some policies for landlord insurance.  But wondering how much is enough to cover for legal liability as a landlord and owner of a property?  Would $20,000,000 be too excessive?

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196
    March 23, 2008 - 12:03 pm

    Hi Ali

    Just a few years ago the "standard" amount of public liability, in Landlord policies, seemed to be $10,000,000.  We've noticed that our insurance company, NRMA, has now moved it up to $20mil and, when you have a look around at a few policies that seems to be the de facto standard.

    We think the increase is probably warranted.

    Cheers,  Paul

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of MacnattMacnatt
    Member
    @macnatt
    Join Date: 2008
    Post Count: 53
    March 23, 2008 - 1:11 pm

    HI there,

    I work in insurance and my company has a landlords product , $20,000,000 is becoming the norm for this type of insurance.

    Nat

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

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