Thanks for letting us know Matt. My 2 properties plus current home contents would save me about $200 p/a if I switch to Real, plus my excess drops right down from a $1000/$1200 excess to a $500 one. I have heard that Aami are best with personal injury claims (had a friend who received serious head injury in a car crash and apparently Aami are the best for paying out on this sort of thing, NRMA were very poor) but interesting that you had hassles with the landlords claim. Food for thought indeed.
Landlord's Insurance
- Thread starter JIT
- Start date
OK boys and girls, I just got a quote from WBC( Westpac) for my soon to be settled strata villa in Calamvale, (QLD).360/week rent, 50K Malicious acts, 15K Landlords fittings,Theft..50k. loss of rent up to 1k/week. Legal liability..20Mil, $300 excess per claim +$100 excess on clain on Strata property. Will cost me $236.52/Year
I have 2 policies with NRMA. One is due now so I have been looking at other insurers. I have 2 units. One furnished.
One policy (old one) says - $300 basic excess $300 excess for each rent default claim.
The new one says (which is why I started looking around)- $500 basic excess, Each rent default claim we will deduct from your claim four times the weekly rental amount and a rent default excess of $300. (I can't see the point in even having it in that case). So I would forfeit $1360 and they only pay up to $3,000.
They also both state they cover landlords contents.
I'm off to read the PDF to see what constitutes contents as I know this varies with insurers.
What do others have covered. I'm thinking I might not worry about the rental side.
One policy (old one) says - $300 basic excess $300 excess for each rent default claim.
The new one says (which is why I started looking around)- $500 basic excess, Each rent default claim we will deduct from your claim four times the weekly rental amount and a rent default excess of $300. (I can't see the point in even having it in that case). So I would forfeit $1360 and they only pay up to $3,000.
They also both state they cover landlords contents.
I'm off to read the PDF to see what constitutes contents as I know this varies with insurers.
What do others have covered. I'm thinking I might not worry about the rental side.
