Which company for landlords insurance?

[MARCIO]

I got a few quotes and the best I found was Westpac:

$700 for bulding
$259 landlord's protection

Total: $959
Excess: $500
House with 3 bedrooms in Lethbridge Park

I've seen a few people in this forum suggesting AAMI is the way to go for Building/Landlords insurance in NSW and also saying that $500 plus is too much to pay for insurance.

I did a quote with AAMI online and the total, with an excess of $700 was over $1000.00. I simply cannot find anything cheaper than Westpac at the moment. BTW - tried NRMA too.

Would be happy to hear from you if you got a good deal on your insurance that would beat Westpac's price.

Cheers
Marcio

 

[sash]

Try:

Honan Insurance or EBM with their Platinium product - I believe complete cover for less than $650.

I did a quote with AAMI online and the total, with an excess of $700 was over $1000.00. I simply cannot find anything cheaper than Westpac at the moment. BTW - tried NRMA too.

Would be happy to hear from you if you got a good deal on your insurance that would beat Westpac's price.

Cheers
Marcio

 

[steveadl]

Why not get an insurance broker to do all the legwork amongst the different insurance co's and find the policy that suits your individual needs? Costs you nothing.

 

[MARCIO]

Try:

Honan Insurance or EBM with their Platinium product - I believe complete cover for less than $650.

Hi Sash,

EBM seems good. Have you or anyone you know ever made a claim with these guys?

Cheers

 

[sash]

No...but they seem to be quite good to deal with and they have been in the property insurance space for a while.

Hi Sash,

EBM seems good. Have you or anyone you know ever made a claim with these guys?

Cheers

 

[MARCIO]

Yeah Steve, a broker is a good idea. However, I've already done quite a bit of the legwork this time around, so will carry this one through to the end. Almost getting there.

Cheers

 

[MARCIO]

Try:

Honan Insurance or EBM with their Platinium product - I believe complete cover for less than $650.

Got an online quote with EBM and the Platinum product comes up at $934

Competitive, but still around the same as westpac...

 

[Rob Williams]

I went with ING.
They have a good site that allows you to get a quote online easily.
https://www.ing.com.au/ing-insurance/landlords-insurance.asp
For the type of cover I wanted, they were very competive on price, too and offered the cover I required.

 

[manny]

Hi guys,

I've made 2 claims to EBM in the past (few years back now) & got paid out in full both times... I still use them for LandLord insurance even though I have buildings covered by another provider... I personally recommend them...

Cheers,

Manny.

 

[sparky23]

I got a few quotes and the best I found was Westpac:

$700 for bulding
$259 landlord's protection

Total: $959
Excess: $500
House with 3 bedrooms in Lethbridge Park

I've seen a few people in this forum suggesting AAMI is the way to go for Building/Landlords insurance in NSW and also saying that $500 plus is too much to pay for insurance.

I did a quote with AAMI online and the total, with an excess of $700 was over $1000.00. I simply cannot find anything cheaper than Westpac at the moment. BTW - tried NRMA too.

Would be happy to hear from you if you got a good deal on your insurance that would beat Westpac's price.

Cheers
Marcio

AAMI works for me because I don't mind a higher excess.

I usually choose the $1200 excess which ends up around $350 for the policy which is building and landlord to replacement value. If you choose a policy costing around $1,000 and then make a claim you will have spent $1500, if I make a claim it will cost me $1550 so not much in it.

However if I don't need to make a claim I am about $650 pa better off. Multiply this by 7 properties and it makes a big difference to my annual outgoings and saves me $4550. So far in the last 5 years I have not had to make claims on any of my properties. In 10 years I could have saved $45,500 if I am still holding only 7 properties, I might be holding 14 and saving nearly $100,000!

Just my take on it anyway!

 

[Ridin-High]

I use Honan, $290.00 p.a for a LL policy
NRMA for building
NRMA for car/green slip, i did contact honan for a quote on car, but it wasn't competitive

 

[MARCIO]

If you choose a policy costing around $1,000 and then make a claim you will have spent $1500, if I make a claim it will cost me $1550 so not much in it.

That makes a lot of sense to me! I'll try a quote with a higher excess...

 

[RedPanda]

I am with ING. Very competitive price and $100 excess.

Cheers