Advice on Building Insurance for Side-by-Side Maisonettes

[Anon_]

Hey lads, so soon to have my first property investments. The only thing I need to finalise is my building insurance. What I am buying is side-by-side maisonettes each bought for $136k each.

I have received a quote through my credit union for insurance (same people I got my loan with) which is with CGU and it's $877 for each property. The run down is:
Accidental Damage - Buildings insured for $150,000. Premium $330
Contents for $10,000. Premium $390
Liability for $2mil

So what I am wondering is if I have options due to the properties being side-by-side maisonettes. Because what I am thinking, if there is a fire it's unlikely to burn down only 1 side of the house. But even if only 1 side does get destroyed, won't they have to knock the whole building down to rebuild anyway? Regardless of it being the same building, do I still need to insure both separately?

 

[Ace in the Hole]

Are they both on the same title?
If so, you'd be best off getting a single policy rather than 2 separate policies.

I got a good deal recently from Suncorp for a duplex, 2 units side by side.
They would be worth about 1.3 mil combined and the building and landlords policy was about $860 by memory.

 

[Macca]

I have just changed from CGU to AAMI, at present CGU seem rather expensive compared with other insurance companies.

Every situation is different but I would suggest you chase up some comparison quotes.