Terry Sheer for LLI, but what about building insurance??

[Ellmay]

Hi all! Been a while since ive posted. Back into the property game, just signed contract for a property on the Gold Coast yesterday and need to find building insurance. Property is 3x1 freestanding.

From what I've read on here Terry Sheer is the way to go for landlord insurance, but im not so sure about who to go for for building insurance..and is it wise to get contence insurance as well?

It would be nice if I could get cover for flooding, but i dont think too many insurance companies do this? I don't think flooding is such a big issue where the property is, its slightly elevated.

I'm with Suncorp for my other IP, found that they are not so great, tennant owed us over $2,500 for missed rent, no cleaning when they left, broke lease etc and all we got back was $120

Any thoughts/reccomendations would be greatly appreciated!

Thanks

 

[Suzz]

I would be interested also to see who people have gone with for building insurance after signing up with Terry for LLI.

 

[Aaron_C]

Try anyone. AAMI, NRMA, Allianz. Compare and see which one is the best.

 

[ScottyR]

Working in the claims side of Insurance for most Insurers in Oz, I have recently moved my building insurance to Westpac. You can research policies, find out what's included and excluded and check premium prices. What is hard to establish, until you make a claim, is the underlying claims philosophy in the business. Also check out Chubb for higher valued property.

 

[wylie]

We are with Suncorp. Not much chance of flooding, but felt happy that we had flood cover, just in case. We had water in through January and ripped up the carpet after 6th February when the assessor came. We are now waiting for a builder to come and look at our slab.

Waiting... waiting... waiting...

They say it probably will not be covered, but meanwhile we are enjoying living on paint spattered concrete downstairs .

I know I could pick up the phone and become a "squeaky wheel" but I'm sure there are lots of others in much worse situations than having to live with a concrete floor, so we will wait.

 

[buster]

At the momment I am planning on going to St George as they seem to have the best deal even though they are the same as westpac who I think are the same as QBE who are rsoles when it comes to claiming. Am currently with CGU who are excellent when it comes to claiming but the premuiums have got ridiculous (400% increase). Ive had claims with both CGU and QBE. You have to understand cheapest may not be best, and you get what you pay for.

 

[ScottyR]

St George / Westpac are not affiliated with QBE.


Wylie, what's wrong with your slab? Suncorp are a decent insurer, a little on the pricey side but certainly try hard to retain customers.