Hi Simon,
The policy cost $1,420.00.
This does not include rental default as the students move in and out all the time and this would not be worth the cost to include.
Also the building had to comply with the BCA (re-classified a Class 1B and provided with hard wired smokies in every bedroom and emergency lighting) and I had to have it inspected and registered with Council's health department.
So hopefully with all of the above ticked off, if anything happens I will be covered.
I do wonder how people who only take out normal landlords insurance on student accommodation get on if they need to make a claim?
If anyone has done this and successfully claimed on the policy please let me know.
Cheers
John