Hello,
I am currently in the process of cooling off period for the investment property in western sydney. Will be doing pest and construction inspection this coming week. The house is 3 bedrooms 2 bathrooms (1 main bathroom and 1 en-suite). I noticed an opportunity of adding an internal wall and a door in the house, which will create an extra bedroom (the area has a proper window in the other wall), without reducing the living/dinning space dramatically.
Decided to call around for insurance quotes and first dialled Alliance. As soon as I said that before renting it out I am planning to add an extra bedroom (without any re-construction to the existing walls) and repaint the inside of the house to refresh the look, the operator said that they will not insure the place if you do the renovation and you do not have a policy in place.
Does anyone know if this is the case with all the insurance companies? What is the right way to go about it? I thought may be just insure it first without disclosing this intention and than call back and advise of the renovations done. Or maybe do the renovations and than call and insure the property. Not sure if this is the right thing to do, but from what the Alliance operator said seemed like the way to go.
I found it quite strange that the company would just refuse insuring because of extra room...
Thanks for help.
I am currently in the process of cooling off period for the investment property in western sydney. Will be doing pest and construction inspection this coming week. The house is 3 bedrooms 2 bathrooms (1 main bathroom and 1 en-suite). I noticed an opportunity of adding an internal wall and a door in the house, which will create an extra bedroom (the area has a proper window in the other wall), without reducing the living/dinning space dramatically.
Decided to call around for insurance quotes and first dialled Alliance. As soon as I said that before renting it out I am planning to add an extra bedroom (without any re-construction to the existing walls) and repaint the inside of the house to refresh the look, the operator said that they will not insure the place if you do the renovation and you do not have a policy in place.
Does anyone know if this is the case with all the insurance companies? What is the right way to go about it? I thought may be just insure it first without disclosing this intention and than call back and advise of the renovations done. Or maybe do the renovations and than call and insure the property. Not sure if this is the right thing to do, but from what the Alliance operator said seemed like the way to go.
I found it quite strange that the company would just refuse insuring because of extra room...
Thanks for help.
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