landlord insurance

[Bayside]

What are RACV like?

 

[Bayside]

When I purchased my property with Stockdale Leggo the Agent gave me a form to fill out where you get 3 months RACV Building Insurance free untill settlement. Has anyone else used this?

 

[DavidMc]

I am with AAMI (cheap) and Allianz. I have had one small claim through Allianz (tenant did a runner owing 6 weeks rent) and they paid up just fine.

 

[Rel]

Nrma

Be aware that some Insurers, for example NRMA, does not cover damage caused by domestic animals.

 

[crc_error]

What are RACV like?

when I looked at the RACV policy, they only cover malicious damage up to the value of $10,000.

Also I don't think they cover you if the house is vacant.. ie if your house burns down in between tenancies, they wont cover lost rent during rebuild.

Also GIO will pay 25% above your cover value, for example if the whole suburb is destroyed, re-building costs go up, hence you have a buffer.. Comminsure have a option where they guarantee to replace the building, giving you protection against under-insurance.

 

[Chatto]

Too many! The last one was for a tenant that had cut squares out of the new carpet where they had burnt it from smoking in the house, replaced the carpet with a carpet square I leave in the garage. The carpet cleaning contractor promptly sucked them up when he cleaned!!
EBM came through there and we replaced the carpet downstairs.

 

[Alex P Keaton]

I'm wandering who to choose!! I'll only need short term landlord insurance as I will be leasing my ip first and then moving in before the 12 months is up to satisfy fhbg.

Any suggestions?

 

[Rixter]

I'm wandering who to choose!! I'll only need short term landlord insurance as I will be leasing my ip first and then moving in before the 12 months is up to satisfy fhbg.

Any suggestions?

I use AON & Terri Scheer. Both very good.

 

[Boof]

What are RACV like?

dont know if they are conected to RACQ but if they are be afraid! Had a burst water main in ceiling in PPOR in Feb still arguing about it (now going through tribunial steps)

They out source to loss adjuster, who has no idea, no communication, dodgy trades, I could go on for hours. Policy was expensive! Now have to wait untill dispute is resolved before we can buy new insurance.

looking at Westpac for IP's $460 for building, fixtures & fittings and LL protection!!

 

[Strannik]

with 460 what would be the value they agreed to pay if it's total loss?

 

[Bayside]

How do you work out how much to insure building for?

 

[Carl]

Be aware that some Insurers, for example NRMA, does not cover damage caused by domestic animals.

Question for everyone:

Where do i find which insurers will cover damage by domestic animals? Can't see it on the Terri Scheer site. In a strata (as my place is, in NSW), the carpet is counted as building anyway isnt it, so would be covered by strata?