Claim renovating tools

not 100% sure but our account warned us that a lot of things cant be claimed unless the property has tenants or repairs are down after tenants leave, and never to buy anything for the property BEFORE settlement has gone through, because the property isnt yours till the settlement has happend (so dont have insurance start untill settlement day) 

But the best advice (and im only new to this so dont hold me to it lol) is find a great accountant who knows a lot about property investment and talk to them while you wait for settlement, we did that the other month (just brought our first investment rental) and the accountant was so kind he sat and talked with us for about 30minutes (for free) about what to and what not to do and the main thing he stressed was that repairs shouldnt be done till there are tenants in and always take photos of what your about to repair before you go a head and repair it (incase your audited)

I am not a solicitor and dont work for insurance company, so this is my opinion only – not specific advise – but I would not take the above advise about insurance.  In my opinion, you need to have insurance in place from date contracts are exchanged. 

What would you do if house burnt down the day before settlement, and the seller had no insurance?  Delay settlement?  till when?  Till they built a new house for you?  Could get very messy. and stressful.  Easier and safer to take out policy at contract exchange date.