Hi All,
I just bought a property for $300,000 in qld. I am looking at insurance (building/contents/landlord) and its asking how much do I want to insure it for.
Does anyone have a guideline? I assume land is a large portion of the value, so do I factor this into my thinking?
Say the valuation of the property itself is $130,000. Do I subtract this amount from the 300 K value of the property and then add a little more to factor in rise in costs, removal etc etc?
How much would you insure the property?
I just bought a property for $300,000 in qld. I am looking at insurance (building/contents/landlord) and its asking how much do I want to insure it for.
Does anyone have a guideline? I assume land is a large portion of the value, so do I factor this into my thinking?
Say the valuation of the property itself is $130,000. Do I subtract this amount from the 300 K value of the property and then add a little more to factor in rise in costs, removal etc etc?
How much would you insure the property?