Insurance

[WebBoard]

From: Mike .


Landlords Protection Insurance
From: Ian (NSW)
Date: 14 Sep 2000
Time: 07:45:21

Hello Duncan & All

Sorry Duncan, haven't utilised the NAB Ins. but I was wondering if you (or anyone else) had dealt with CGU Landlords Property One through AON Risk services?

I haven't had to "claim" to date thankfully. Knowing the insurance market is a minefield and that we all want value for our money (not necessarily the cheapest policy), perhaps this is an opportune time to open this topical item for discussion.

We have seen on the forum in the past a few postings re L/lords Ins but it's never really gotten off the ground.

Peolples experiences pos. and neg. appreciated!

Cheers Ian

 

[WebBoard]

DuncanM

Reply: 1
From: Mike .


Re: Landlords Protection Insurance
From: DuncanM
Date: 14 Sep 2000
Time: 09:41:58

No experience with CGU.

My current policies are with a company called:

"Elkington, Bishop & Molineaux", obscure I guess, organised through a broker. The standard policy cost approx $140, reducing by $10-$15 with multiple policies.

One claim in the last 3 years, paid without question or argument on a default, recalcitrant tenant who was eventually removed by a Bailiff. 8 weeks of unpaid rent ($120pw) + some minor damage to a door and window paid by the company without question.

What I like about the NAB policy is that it wraps up both Landlord (rental) Insurance AND the Building Insurance in one product, it will save me a bit each year, one example:

3br Home, Morphett Vale, Adelaide. Building Value: $80,000 Contents: $10,000 (curtains, carpets etc)

Currently paying:

$130pa Landlord Insurance, $163pa Building Insurance, $301pa total,

The NAB policy wraps up both for $225.40, and from my comparison of the Landlord policies I believe the NAB policy is more generous.

Regards, Duncan.

Residential Property Record Keeping Software.

www.otter-software.com.au

 

[WebBoard]

Owen

Reply: 1.1
From: Mike .


Re: Landlords Protection Insurance
From: Owen
Date: 14 Sep 2000
Time: 10:09:51

Hi Guys,

I have CGU insurance but haven't had to make a claim yet. Like the NAB policy it bundles up "contents", rent cover and personal liability for about $230. I've seem the NAB policy but haven't sat down and compared features. I also got a brochure from McGrath Partners Property Management (can't remember the name of the insurance company) and the policy only cost $200. From a quick look it seemed the equal of the CGU policy. Guess I should do a proper comparison one day.

Owen

 

[WebBoard]

Thorpedo

Reply: 1.1.1
From: Mike .


Re: Landlords Protection Insurance
From: thorpedo
Date: 15 Sep 2000
Time: 17:00:41

I'm currently searching for Landlord Insur. & have come across CGU mainly through Aussie Home Loans (our lender). I am equally interested in any feedback for CGU.

 

[WebBoard]

John P

Reply: 1.1.1.1
From: Mike .


Re: Landlords Protection Insurance
From: John P - Sydney
Date: 18 Sep 2000
Time: 20:50:48

I too was with Elkington Bishop Molineaux but changed for both of my IP's. The reason, the coverage with my new insurer is more comprehensive. It's about $40 cheaper and for EACH additonal IP you buy, the price goes down. With the previous mob, you have to wait until you get your 5th property before you get any kind of discount!! Get Real!! So who did I renew my policies with??

Real Estate Institute (CGU Landord Property 1)

Elkington Bishop Molineaux's policy is clumsy by comparison and on the rare occasion that you DO ring up, the service is lousy!!!