i've got 5 properties all with Landlords Insurance with AAMI, 4 of them come due before Xmas, I rang them today re the large increases in the product, and their explanation just didn't add up, I pay MORE for my rural weatherboard houses in QLD than I do for my large 3 year old 4 bed 2 bathroom bells and whistles near Newcastle NSW. When I asked why she said, oh NSW had so many storms thats why its so expensive – my response, Dear, the QUEENSLAND properties are more expensive than the NSW one!!! And there were no storms near where my rural properties are in QLD.
Anyway i've decided its time to shop around, I asked if AAMI had anything similiar to a professional account like the banks offer investors and perhaps discounts for someone that has in total 9 policies with them (yup 2 cars ppor and its contents as well) and she said nope. So any recommendations out there?
hgwells,
What has storms got to do with landlords insurance?
Do you mean house insurance? If so try budgetdirect, they have saved me hundreds each year.AAMI have a combined landlords/building insurance which is probably what HG is talking about. I also had those, but I also had the normal landlord's insurance with AON. I never did investigate how much the AAMI policies overlapped. I too was a bit dismayed by the large increase in AAMI's policies. Their reasoning was that investment properties attract a premium compared to a ppor. I've since changed to RACQ because their landlord policies are basically building insurance, and the fact that they are IPs doesn't seem to affect the cost at all. They also offer me a multi-policy discount, a gold member discount, and now an age discount. Showing my age now:(
RACQ was almost half the cost of the AAMI policies after those discounts. I too had 9 policies with AAMI (ppor, 2x IPs & six! cars)AAMI has to pay for all those "savings" ads they put up on TV…
Try EBM…(http://www.rentcover.com.au) They have a good Landlord cover together with Building and Contents….and compare well with RACV (here in Vic)…Good Luck
ING……..really good deals and discounts for signing up online………
I have tried a couple, Allianz, Comminsure and finally Terri Scheer insurance.
I had a couple of issues with Allianz(even though im yet to claim anything) Their after sales service was pretty terrible.
When ringing to upgrade my coverage with Allianz, they couldnt even tell me what I would be covered for, transferred me a couple of times and then contradicted themselves. I didnt re-new.Tried Comminsure…. I got a discount as I have multiple services with CBA, no big problems. Just not the best deals.
If you want value for money though(e.g. 18months coverage for the price of 12) and nil hassles I cant speak highly enough for Terri Scheer insurance, I was put onto them by a friend and now I do the same for my friends. I have never seen marketing from them… all word of mouth but they are good. They are versatile with their coverage(who would have thought that other major insurance companies couldnt cover you for owning both units in a duplex and still cover common ground – all on 1 title) Terri Scheer had no problems with this. Im not positive but I think they ONLY do landlords insurance, not owner occupied.
Good luck with this, maybe others can post up any good deals with insurance companies to keep us in the loop?
Cheers,
Mick
CGU have treated me well and when I needed insurance fast for a settlement because another insurance company stalled getting a new property insured CGU when out of their way to help me achieve settlement.
You need to check if they have flood coverage as CGU may not have it I am not sure on this part of my insurnace.
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