Multiple Dwellings

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swhite576
Member
@swhite576
Join Date: 2013
Post Count: 8
February 1, 2013 - 12:13 am
Hi Guys,
Just a quick update – firstly a big thank you to this site and Shahin as I was able to get finance for the property.
I spoke to Shahin and we he submitted the application as a residential application and the valuation came back ok. We are now waiting for the documents to be sent out. Also the agent has told me that he had another buyer put in an offer that was $70k higher than my offer!
Jacm – I am going to call GIO today. Any other insurance companies you recommend or is GIO the best one?
Sammy
Jacqui Middleton
Participant
@jacm
Join Date: 2009
Post Count: 2,539
February 1, 2013 - 12:53 am
Use GIO if you are stuck for other options. My first call is always to AAMI.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone Me
VIC Buyers' Agents for investors, home buyers & SMSFs.
Jacqui Middleton
Participant
@jacm
Join Date: 2009
Post Count: 2,539
February 1, 2013 - 1:26 am
Just to clarify, I use GIO only for unit blocks because few insurers will insure them. For houses I always go straight to AAMI. Annoyingly, AAMI doesn't offer insurance for the kind of unit blocks I have. Give them a buzz and ask about your property – see if they'll cover it.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone Me
VIC Buyers' Agents for investors, home buyers & SMSFs.
swhite576
Member
@swhite576
Join Date: 2013
Post Count: 8
February 1, 2013 - 5:26 am
I contacted AAMI and they were not able to help. GIO are sending me a quote. I think I will just go with them.
Thanks Jacm!
Jacqui Middleton
Participant
@jacm
Join Date: 2009
Post Count: 2,539
February 1, 2013 - 6:41 am
Cool Remember to insure the buildings but also "some" contents (ie floor coverings and window coverings). You also need landlord insurance with tenant protection (ie to cover rental default, malicious damage etc).
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone Me
VIC Buyers' Agents for investors, home buyers & SMSFs.
Paul B.
Member
@paul-b.
Join Date: 2013
Post Count: 70
February 2, 2013 - 3:31 am
JacM,
I got through a quote through AAMI for house and contents ($30000) + landlord protection for $1500. Does this sound reasonable?