Hi,
I will be renting out my PPOR (unit in a small block mostly occupied by owners) by the winter.
By friends recommendation I found PM and now at the point of choosing the Insurance package.
Since the building is covered by the strata, I really only need LandLord insurance (tenant defaults,
accidental and malicious damage to the property and to the contents, loss of rent, etc).
I have carefully read the several insurance policies (from SGUA, Terri Scheer, EBM, CHU) and they all look more or less the same to me.
I do realise policies from different insurers are different (and from what I read on this forum policies is one thing and how easy the insurer will part with their money if the insured event to happen is another) - but what I don't get - the premiums does not vary much - all in the $260 - $360 range for my property.
Would it make more sense to take out the more expensive insurance in the range to buy myself a peace of mind, and a year later, with more experience at hands, switch to a cheaper policy tailored to my landlord needs
(which I will be more aware of a year later).
If it does make sense - can you recommend me a not cheap landlord insurance for a unit in a Sydney metro area, so I guess don't really need a bush fire or flooding cover, and the suburb is quite safe, so I expect the
tenants should not be bad, but yeah, tenants will never treat someone else's property as they would their own.
So if you can recommend a good "peace of mind" landlord insurance cover for a newbie landlord - would really appreciate that.
Cheers.
I will be renting out my PPOR (unit in a small block mostly occupied by owners) by the winter.
By friends recommendation I found PM and now at the point of choosing the Insurance package.
Since the building is covered by the strata, I really only need LandLord insurance (tenant defaults,
accidental and malicious damage to the property and to the contents, loss of rent, etc).
I have carefully read the several insurance policies (from SGUA, Terri Scheer, EBM, CHU) and they all look more or less the same to me.
I do realise policies from different insurers are different (and from what I read on this forum policies is one thing and how easy the insurer will part with their money if the insured event to happen is another) - but what I don't get - the premiums does not vary much - all in the $260 - $360 range for my property.
Would it make more sense to take out the more expensive insurance in the range to buy myself a peace of mind, and a year later, with more experience at hands, switch to a cheaper policy tailored to my landlord needs
(which I will be more aware of a year later).
If it does make sense - can you recommend me a not cheap landlord insurance for a unit in a Sydney metro area, so I guess don't really need a bush fire or flooding cover, and the suburb is quite safe, so I expect the
tenants should not be bad, but yeah, tenants will never treat someone else's property as they would their own.
So if you can recommend a good "peace of mind" landlord insurance cover for a newbie landlord - would really appreciate that.
Cheers.