Landlords Insurance

W

WebBoard

Guest
From: The Gow's


hello All

I have just got off the phone with CGU Insurance and they wont give me any Landlords Insurance for my property as the Leases are only 6 monthly(QLD), will i have to change the leases to 12 months or are there any other insurers out there for me??????
Thanks in advance

Jgow
 
Last edited by a moderator:
Reply: 1
From: Kevin Forster


Hi

Have you tried some of the bank insurers like CBA and NAB? I know both of these have insurance products for investor insurance. We got ours through CBA - they didn't even ask about our tenancy leases. Other banks would have them as well and you may get a discount if your loan is through the bank.

Kevin
 
Last edited by a moderator:
Reply: 1.1
From: Apprentice Millionaire


In Victoria, the REIV, through its insurance arm, offers a landlord protection insurance, which is an add-on to a normal building insurance. There is no limitation to any type of lease. Maybe the REIQ might have a similar insurance.

Cheers
Apprentice Millionaire
(aka Jacques)
 
Last edited by a moderator:
Reply: 1.1.1
From: Bernadine B


I am in the process of organizing both strata and landlords contents insurance for a block of units.

I too had some difficulty. I stumbled onto Western United who will

1) Give tenant malicious damage as part of Strata Insurance

2) Had reasonable costs for general contents insurance for contents.

Also MGA seems to specialise in this type on insurance

Hope this helps
 
Last edited by a moderator:
Reply: 2
From: Robert Forward


Hi J Gow

Um, I'm stumped why CGU wouldn't do that for you. I have a few IP's that run on a 6 monthly lease contract and they are my insurers.

Ask for a second opinion from someone else within the company and/or approach a broker (Bendigo Brokers aren't to bad for this stuff) and get them to do it for you.

Robert
 
Last edited by a moderator:
Reply: 2.1
From: Apprentice Millionaire


Looking closely at the REIV landlord insurance, I have found that it is underwritten by CGU! So I do not understand either why they are doing that to you!

Cheers
Apprentice Millionaire
(aka Jacques)
 
Last edited by a moderator:
Reply: 2.1.1
From: Glenn M


J Gow,


Same as Robert. I also have all of my investment properties with CGU and have never had a problem. Come to think of it, they have never asked me whether the lease is monthly/six monthly/yearly.

Definitely try another consultant within CGU as they are one of the cheapest Landlord insurers around.


Glenn M.
 
Last edited by a moderator:
Reply: 2.1.1.1
From: The Gow's


Thanks for all the info everyone, the bloke i talked to at CGU said he had to ask some other person about the 6 month leases that were in place as the property was in Qld, he came back and said that it was mandatory 12 month leases for Qld properties and that they, CGU, would not insure the property(a pair of duplexes,strata title)
I think i will give an Insurance Broker a call today.
thanks again for all information.
jgow
 
Last edited by a moderator:
Reply: 3
From: Miakat .


I also had problems with CGU.

First time I tried through the bank. They wouldn't ensure me. The house was too old.

I then tried it directly. They wouldn't ensure me. The house was vacant. ( I hadn't settled yet)

I gave up and went with NAB. No worries at all.

Go Figure?

Miakat
 
Last edited by a moderator:
Reply: 2.2
From: Pierre .


If you have a search through the old forum, I wrote about some experiences with obtaining Landlords Insurance. My major point was that I obtained three quotes from CGU for the same insurance - one direct to them, one through AON Risk as a broker, and one through St George as a broker. Strangely, the quoted prices were all different even though I specified exactly the same requirements and the policies were all provided by CGU.

Go figure!!

Pierre.gif
 
Last edited by a moderator:
Reply: 4
From: Greg Mitchell


Hi

I have been considering the Barclay landlord protection plan for some of my properties, after a call to the NSW manager I get the impression that they consider the managing agent the most important " they know the requirements needed for the policy" attitude, while helpful they would not arrange cover unless I went through an real estate agent.

I would appreciate any comments good bad or otherwise.

Thanks in advance

GregM

http://www.barclay.com.au/main.html
 
Last edited by a moderator:
Back
Top