All Topics / Help Needed! / Please share experience landlord & building insurance

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of AnnaAnna
    Participant
    @jennyhj
    Join Date: 2009
    Post Count: 1
    April 18, 2017 - 10:27 pm

    Hi everyone,

    Could you please share experience landlord & building insurance you have been using either good or bad?

    I’m looking for insurance for my IPs,2 bed unit and 3bed house (a bit run down but still in renting condition.

    Profile photo of BennyBenny
    Moderator
    @benny
    Join Date: 2002
    Post Count: 1,416
    April 19, 2017 - 9:18 am

    Hi Anna,
    I can’t point you toward any specific company – but I wanted to share some very useful words that came to us recently from someone who has years of experience in the Insurance Industry. You will hear that from his words and the ideas he has presented here for us.

    https://www.propertyinvesting.com/the-12-most-common-pitfalls-when-insuring-your-rental-property/

    I was astounded on first reading his comments, and I am happy to point you to them, so you too can be more aware of “what to look for” when hunting down insurance.

    Benny

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376
    April 24, 2017 - 5:32 am

    we have all ours with Honan who sell Chubb insurance, never had a claim but read online good reviews and easy to do renewals etc.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    April 24, 2017 - 9:04 am

    Personally – I’d stick with the larger companies. I went with a cheaper/smaller one once and it was a massive hassle trying to make a claim (they persistently tried to avoid paying out when the evidence we had was quite strong).

    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]

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010
    April 24, 2017 - 4:42 pm

    The key is understanding that cheap doesn’t equal good. Insurance profitability vs likelihood of making claims – so if they’re offering cheaper premiums where are they making the money?

    There are still good cost effective options out there – but the number 1 thing you should be looking at is what you’re actually getting for your money in terms of the PDS.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415
    May 6, 2017 - 11:10 am

    Hi Anna,
    just remember to get everything covered you need .Eg Brisbane flood insurance is a must -I have found Suncorp are the best on price too with multiple policys and payout with no qs asked

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

    Property Support,Strategist and Buyers Agent

Viewing 6 posts - 1 through 6 (of 6 total)

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