Cairns insurer
- Thread starter jusm
- Start date
Racq is the cheapest I've found for 4879.
They don't do LL though.
They don't do LL though.
About a year ago I went with Commsec as they were cheaper than a few of the usuals. At the time, it was about half that of RACQ (may not have had as good flood cover, but wasn't necessary).
Saying that, I've made claims with RACQ before and they were excellent.
Saying that, I've made claims with RACQ before and they were excellent.
Online or over the phone usually works out to be the same price. Occasionally they will offer you a discount if you sign up online.
Are you after LL insurance or just B&C?
Are you after LL insurance or just B&C?
The concern I have with this thread is that all anyone talks about is finding the cheapest. When will people ever learn?
It's "value" you need, not "cheap". Find the policy that offers the best value for your money covering the risks that you want to be insured against, also keeping in mind the company that you are dealing with in relation to claims and ongoing service.
If a similar thread was posted on a motoring site, would everyone simply buy the "cheapest" car they can find? Of course not, they will find the best value for the features they want.
The biggest thing to remember about insurance is "NOT ALL INSURANCE IS THE SAME".
It's "value" you need, not "cheap". Find the policy that offers the best value for your money covering the risks that you want to be insured against, also keeping in mind the company that you are dealing with in relation to claims and ongoing service.
If a similar thread was posted on a motoring site, would everyone simply buy the "cheapest" car they can find? Of course not, they will find the best value for the features they want.
The biggest thing to remember about insurance is "NOT ALL INSURANCE IS THE SAME".
Brett, I understand what you're saying, but for me at least when it came to insurance in cairns the price difference was over $6k a year compared to the next insurer who covered less than what RACQ does after reading the PDS. So when we're taking that figure of money it certainly does come in to play.
I was going to go with EBM because that was the cheapest maybe I shouldn't now after your advice
I was going to go with EBM because that was the cheapest maybe I shouldn't now after your advice
Brett, I understand what you're saying, but for me at least when it came to insurance in cairns the price difference was over $6k a year compared to the next insurer who covered less than what RACQ does after reading the PDS. So when we're taking that figure of money it certainly does come in to play.
I was going to go with EBM because that was the cheapest maybe I shouldn't now after your advice
Haha. No that's not the point at all. There is nothing wrong with "cheap", but price is only one point to consider. If a policy is "cheap" and gives you the protection you want (with a company you can rely on when it comes to claims) then you'd be crazy not to take it. I would do exactly the same.
It's simply that the focus needs to be to make sure you get a premium that is relative to the cover you are getting. I know the problem above the 26th parallel, I've seen premiums over $14,000 for moderate homes where the insurer obviously doesn't want the business.
Price, along with everything else, has to be taken into account, it just can't be the sole defining factor.
I have researched insurance in the region quite a bit. I use Suncorp for building insurance. Terry Sheer is popular for Landlord's insurance. Insurance costs vary depending on post code, flood risk/cover, security etc.
I have found that you can go online and adjust the various excesses etc to get an idea, then phone them up for a personal quote. If they put the price higher, you refer them to the online quote. Often they will offer you less in an attempt to get you to sign up there and then.
cheers
Jennifer
I have found that you can go online and adjust the various excesses etc to get an idea, then phone them up for a personal quote. If they put the price higher, you refer them to the online quote. Often they will offer you less in an attempt to get you to sign up there and then.
cheers
Jennifer
Hi Brett, good point but to me at least it's a given that the cover is suitable for my needs. So the next criteria is price.
I was actually after just building in this case.
Thanks for the tips Jen.
For landlord or PPOR?
I found RACQ the best for building and/or contents (PPOR) and EBM second for LL (building or just LL insurance) but EBM don't cover flood (but are apparently introducing it) which was a big concern of mine.
I found RACQ the best for building and/or contents (PPOR) and EBM second for LL (building or just LL insurance) but EBM don't cover flood (but are apparently introducing it) which was a big concern of mine.
If it were me I'd insure building with RACQ and LL with EBM but that's because my house is in a flood prone area.
At what level of premium are we looking at (building insurance only) for an average sort of property in greater Cairns? Anyone under $5k?
My building is insured for $350k and contents for $80k. Premium with RACQ was approx $2600 - this is for PPOR.
When this place was an IP I was with EBM and premium was around the $2400 mark from memory.
Next cheapest I could find was CGU (I think?) and it was about $6k.
As far as I'm concerned I think RACQ beat the other insurers hands down with what they cover.
When this place was an IP I was with EBM and premium was around the $2400 mark from memory.
Next cheapest I could find was CGU (I think?) and it was about $6k.
As far as I'm concerned I think RACQ beat the other insurers hands down with what they cover.
Getting insurance in Cairns for units?
I'm considering buying here against most property investment advice. My family's from there, it'd be a long term hopefully positively geared proposition.
I just can't seem to get any online insurance place that covers strata? Did some research it seems a bit dire, especially as the local papers are saying its going to be a bad cyclone season this year.
http://www.cairnspost.com.au/lifest...lones-and-storms/story-fnjuflgv-1226796256370
http://www.change.org/en-AU/petitio...rs-get-fair-and-affordable-insurance-premiums
Any help in getting insurance for an investment unit would be appreciated?
I'm considering buying here against most property investment advice. My family's from there, it'd be a long term hopefully positively geared proposition.
I just can't seem to get any online insurance place that covers strata? Did some research it seems a bit dire, especially as the local papers are saying its going to be a bad cyclone season this year.
http://www.cairnspost.com.au/lifest...lones-and-storms/story-fnjuflgv-1226796256370
http://www.change.org/en-AU/petitio...rs-get-fair-and-affordable-insurance-premiums
Any help in getting insurance for an investment unit would be appreciated?
