Hi Guys ,
I'd like to ask a brief question in relation to Residential Owners Insurance.
We purchased a property 2 days ago . The vendor is an owner builder.
The house is 4 y.o. , hence the section 32 includes Residential Owners Insurance issued by QBE and 137b ( building inspection report) .
I rang QBE to confirm the policy details, however they've refused to disclose any info , because it's registered on the vendor's name .
Let's assume that we will change the policy and my name will be registered ;
does it mean that I'll be liable in case of any damage ?
It appears like a vicious cycle to me : insurance company refuses to provide details , however I wouldn't be able to claim anything if I transfer the policy on my name ( to sue myself ?
Please your thoughts
Kind Regards
gprp
I'd like to ask a brief question in relation to Residential Owners Insurance.
We purchased a property 2 days ago . The vendor is an owner builder.
The house is 4 y.o. , hence the section 32 includes Residential Owners Insurance issued by QBE and 137b ( building inspection report) .
I rang QBE to confirm the policy details, however they've refused to disclose any info , because it's registered on the vendor's name .
Let's assume that we will change the policy and my name will be registered ;
does it mean that I'll be liable in case of any damage ?
It appears like a vicious cycle to me : insurance company refuses to provide details , however I wouldn't be able to claim anything if I transfer the policy on my name ( to sue myself ?
Please your thoughts
Kind Regards
gprp
