Seperate building/contents and Landlord policies?

Hi all,

I have a property I'd like to insure with Terri Scheer or EBM for landlord issues, but with another company for the building/contents.

It is currently insured with Suncorp, and they tell me they will not insure just building/contents when the house is rented, it must be under a LL policy.

So who WILL insure just the B/C and allow me to get LL insurance from TS or EBM?

Thanks,
Ben.
 
Hi all,

I have a property I'd like to insure with Terri Scheer or EBM for landlord issues, but with another company for the building/contents.

It is currently insured with Suncorp, and they tell me they will not insure just building/contents when the house is rented, it must be under a LL policy.

So who WILL insure just the B/C and allow me to get LL insurance from TS or EBM?

Thanks,
Ben.
Out of interest, what is the reason you wish to insure with a different company for the building/contents?
 
I interviewed a landlords insurance specialist last Saturday. She admitted that whilst insurance companies do try to work together (building vs landlords insurance), it's best to get both policies through a provider where possible to reduce the potential for conflict.

The last thing you want is the building insurer saying it's the responsibility of the landlord insurer and vies-versa.

BTW, you generally don't need contents insurance for a rental property, that's the tenants responsibility in most cases. Makes sure you ask about this when setting up the policy.
 
I interviewed a landlords insurance specialist last Saturday. She admitted that whilst insurance companies do try to work together (building vs landlords insurance), it's best to get both policies through a provider where possible to reduce the potential for conflict.

The last thing you want is the building insurer saying it's the responsibility of the landlord insurer and vies-versa.

BTW, you generally don't need contents insurance for a rental property, that's the tenants responsibility in most cases. Makes sure you ask about this when setting up the policy.
I agree in regards to the Insurer's, in most cases I don't see any logic in splitting between different Insurer's.

Be careful in relation to contents though, a landlord does need contents as in a unit, carpets, curtains, blinds, light fittings and often even internal paintwork are regarded as the landlords contents. In fact, generally if the kitchen has been replaced at some time in hiistory (therefore not the original kitchen) then it is likely to also be classified as "contents". Similar thing in a house (when a rental property), carpets, curtains etc. are classed as contents.

You of course will not be insuring the tenants contents, but you certainly still need a contents policy, or more likely a combined landlord contents policy, or in the case of a house most likely a building/co0ntents policy.
 
I would def go with an insurer that covers the lot like EBM.

I can recommend EBM with confidence as a recent claim has been settled favourably after some negotiations being raised for further benefits paid.

I thank not only EBM but also brettc for their help and understanding.
Really appreciate it.

You also need to read the PDS. Like really read every bit and understand it before deciding on any insurer.

Brett has assisted many others on here before with some interpretations etc.
Very helpful.;)
 
Thanks for the replies.

I asked the question because although the IP in question is currently insured with Suncorp, I am dissatisfied with how thay have handled a malicious damage/loss of rent claim.
I am certain Terri Scheer or EBM would have done a better job, and the advice from my property manager confirms this.

The Suncorp premium is under $800 for building/contents/LL.

Both TS and EBM are around $300 for the LL insurance, but blow out to $1800-$2100 once building insurance is added.

Suncorp won't do building/contents only when the property has tenants.
I looked at AAMI for building only and even that was over $1000.

I don't think the numbers are going to work and I'll have to stick with Suncorp and be more selective with tenants :)

Thanks!
 
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