insurance on rental house?

Viewing 7 posts - 1 through 7 (of 7 total)

frank33999
Member
@frank33999
Join Date: 2013
Post Count: 2
June 15, 2013 - 4:34 am
i am new to investing in house. want to know more about renting out my house. if i rent out my house, should i buy insurance to protect from tenant suing me if they fall down on stairs or if they party on my house and their guest got injured then sue me?
what kind of insurance is that called ?
also, on TAX, how many years can i carry forward my losses in the future before the loss expire ? i mean can i carry forward up to 10 years in future and then the loss expire or it never expires?
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
June 15, 2013 - 7:19 am
Yep, landlord insurance is important for any IP. If you do a quick search on the forum you'll find heaps of posts with some recommendations.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
jenni_nextplace.com.au
Member
@jenni_nextplace.com.au
Join Date: 2013
Post Count: 36
June 15, 2013 - 9:45 am
With your landlord insurance look into ones that are specific to landlord insurance, rather than a general insurer who insures for all other things. You need an insurer who knows and understands IP. A couple I know of are Terri Scheer and EBM they seem to be the ones most real estates deal with.
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
June 16, 2013 - 11:29 pm
I've had to make a couple of claims with Youi recently – the first was a bit of a pain and after a bit of persistence they finally paid out. The second claim was hassle free. Call around and get some quotes – also look carefully at what each policy includes.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Heinz57
Participant
@heinz57
Join Date: 2012
Post Count: 26
June 21, 2013 - 12:26 pm
Is anyone able to recommend an insurance broker please, rather than an insurance company? I don't mind doing business by e mail but would prefer someone in Brisbane. It's not just about the cheapest policies or the biggest company, ,more having someone to manage all of them (not just IPs)
Thank you kindly
Heinz57
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
June 22, 2013 - 9:19 am
We use Direct Insurance Brokers in Stafford they do all of mine.
Sure you might be able to get something a few dollars cheaper but that's not the point in the long run.
Talk to Matt, tell him i sent you and he will look after you.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Heinz57
Participant
@heinz57
Join Date: 2012
Post Count: 26
June 22, 2013 - 10:29 pm
Thank you I will contact Matt. Appreciate your referral.