Landlord insurance before settlement?

[ScottO]

Just seeking advice on what insurance to take out on a new purchase. We have just signed a contract of sale and understand we need to take out insurance on the property as the risk passes onto us as soon as contracts are signed. Settlement is not for 8 weeks. There is currently a tenant in place on a fixed term until March next year.

I understand I'll need to take out building insurance but should I also be taking out Landlord insurance now or waiting until settlement?

I'm guessing landlord will come at settlement but would love other opinions to correct me otherwise.

Cheers
Scott

 

[jaspn]

I spoke with EBM today who informed me that I won't need land lord cover until settlement date. I'm unsure about building insurance for you though as the property I'm looking at is a strata unit so that part is covered.

 

[Spades]

Hi ScottO,
On a house,Building insurance yes,strata/body corp no,landlord insurance after settlement,
Cheers Spades.

 

[ScottO]

Answers my question. Thanks!