All Topics / General Property / When to commence Landlord Insurance on Investment Property ?

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of AM2778AM2778
    Participant
    @am2778
    Join Date: 2010
    Post Count: 48
    March 29, 2015 - 8:53 am

    Hi All,

    I have paid a deposit on the Investment Property on March 28 based on the unconditional approval from the Lender.
    The settlement is due on May 1.

    When should I take out Landlord Insurance on the property –
    1) Should I be taking out the Insurance from when I paid the deposit? or
    2) Should I be taking out the Insurance from the Settlement Date?

    Any advice on this matter will greatly be appreciated.

    Many thanks
    AM

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415
    March 30, 2015 - 7:00 am

    Hi AM,

    Mate it is different in each state but definately in QLD you need to insure the day you sign contract
    while some others the day it settles.

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of MilkTruckMilkTruck
    Participant
    @milktruck
    Join Date: 2010
    Post Count: 15
    April 1, 2015 - 10:57 am

    I am in VIC and I took it out once I had an interest in the property, ie. I had signed the contracts. It’s not very expensive for 30-90 days of settlement. MT

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

You must be logged in to reply to this topic. If you don't have an account, you can register here.