Insurance

[WebBoard]

From: Mike .


Landlord's Insurance.
From: Mia
Date: 05 Feb 2001
Time: 16:12:07

Hi all,

I have just been going through the painful process over the last two days of trying to find Investment Property (Landlord's) insurance. Because of the age of my property (80 years) some lender's will not insure me and another quote for Building, Contents and rent default was in the range of $850 per year. This seems excessive to me. Can anyone please give me some ball park figures for Landlord's insurance that you have received and if possible, suggest some alternate companies I could approach.

Thanks in advance.

Mia

 

[WebBoard]

Michael

Reply: 1
From: Mike .


Re: Landlord's Insurance.
From: Michael
Date: 08 Feb 2001
Time: 18:33:49

AON - purchased via a property manager

House $180k

Insurance $220/yr

$10mil liability

12mth rental due to damage

plus $5k in legals

plus $50k contents cover

Hope that helps

 

[WebBoard]

Owen

Reply: 1.1
From: Mike .


Re: Landlord's Insurance.
From: Owen
Date: 06 Feb 2001
Time: 10:41:56

I contacted Aussie Home Loans (although I don't have a loan with them) and got a policy through them. I also have a CGU insurance one for another IP. Give them a try.

 

[WebBoard]

LB

Reply: 1.1.1
From: Mike .


Re: Landlord's Insurance.
From: LB
Date: 06 Feb 2001
Time: 10:18:59

Hi Mia, The two factors that you are having problem might be the age = 80yrs and rent default insurance. The policies that I have are with AMP and my properties are ~ 30-35yrs. My premiums are ~$270 py. I am not covered for loss of income due to rent default but everything else applies and they have paid out on some claims. Hope this has helped. LB