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From: Joseph Waller


Does anyone know of a good broker or insurance company that offers competitive
landlords insurance including coverage for malicious damage?
 
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Reply: 1
From: Alan Hill


Joseph,

I know CGU Insurance do a Landlords Insurance(Landlord Property 1) through REI Insurance Brokers for $280(including GST) in the Sydney area.
Covers:
1. Rent and legal expenses, including Rent Default, Departure of tenant without notice, prevention/denial of access to $1000 a week.
2. Contents including theft and/or malicious damage by the tenant to the building to $50,000
3. Liability of $10,000,000.


:)
 
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Reply: 1.1
From: Frank Shead


Try Ian Woodward of John J. Andrews Insurance Brokers Pty Ltd Ph. 02 9680 1700
Frank Shead
 
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Reply: 1.2
From: Joanna K


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Hi Allan,

I get mine through REI and it costs me only $252p.a.

Kind regards

Joanna Karavasilis
Principal
THE RENTAL SPECIALISTS

PH: 02 9599 3363
FAX: 02 9599 3447
EMAIL: [email protected]
WEB: www.rentalspecialists.com.au


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Hi Allan,

I get mine through REI and it costs me =only
$252p.a.

Kind regards

Joanna Karavasilis
Principal
THE RENTAL SPECIALISTS

PH: 02 9599 3363
FAX: 02 9599 3447
EMAIL: rentals@rentalspecialist=s.com.au
WEB: www.rentalspecialists.com.au=


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Reply: 1.2.1
From: Nigel W


will the insurers give cover where properties are self-managed rather than by an agent?
 
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Reply: 1.2.2
From: Alan Hill


Joanna,

I believe $252 was the old price and they have now all gone up to $280.
Note: Not particularly well advertised but you do get a discount for multiple policies. Instead of $280 each you will get two for $530.

:)
 
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Reply: 1.2.1.1
From: Alan Hill


Nigel,

Self-managed is fine(some may say preferred after the recent discussions!) as long as you have a current lease in place......


:)
 
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Reply: 1.2.2.1.1
From: Alan Hill


Steve,

Thanks for the reminder about Rentcover. I've been meaning to do a bit of a comparison between the two.

Also John Poulos posted some comments on 13/12/01 under 'Best Value Landlords Protection Insurance' regarding Rentcover which you may like to read too. He actually changed from Rentcover to CGU.

Policy details may well have changed and I'll certainly do a comparison in the near future. Thanks again.

For your info, part of John's post follows:

G'day Alan, I'm glad you posted this question as I am just as interested to get other people's feedback on this matter and would LOVE to know if there is a website out there that lists them all.(I doubt it though)

The policy you are referring to is through the Broker known as Elkington Bishop Molineaux (EBM)


I'll make this brief but I myself was with RentCover and found that in many aspects, it was inferior to a Policy which I switched to called Landlords Property 1 (AON Insurance)(underwritten by CGU) ....definitely not HIH!!!

It seemed to have Rentcover outgunned in most areas including public liability for your tenants. I'm certain that if you get the brochures on both and compare features, you will more than likely come to the same conclusion.

Before I go however, I should mention my favourite part of this policy. For every additional IP you buy, you get a discounted rate on the premium for the new policy as well as any existing policies. With Rentcover (Unless it's changed), you have to wait until you have acquired 5 IP's before you get any kind of bulk discount.

The website address is:

http://www.cgu.com.au/personal/landlords.shtml

Hope this Helps

John_P



:)
 
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