building & Landlord insurance recommendation

Hi peeps,

Just to see which company majority of investors use it..EBM ,Terri scheer or someone else?
Is it possible to get discount for multiple properties?

 

I Have EBM & Terri Scheer,EBM are more user friendly in my opinion,also cheaper.

 

EBM do offer a PC discount for new policies. They have two LL polciies - One for stratas and other for not. (RentCover Platinum / Ultra) Also a shortstay specialist policy for airbnb etc.

Contact Brett brettc

 

EBM for investment properties both building and landlord all wrapped in one neat package with friendly, and workable claims assistance.
Give @brettc a call.

 

EBM I find to be quicker at processing claims then other companies. TS was great back in the day when TS actually owned it.

 

I use TS for all my properties and have never had a problem, claims or otherwise.

 

Take a look through TS's latest policy disclosure documents, they've had some dramatic changes recently- e.g. damage to different areas/rooms is considered different events and attracts a new excess each time.

 

Terri Scheer via my trusty insurance broker who will go into bat for me when and if I need to.

 

I think insurance companies need to look at the rental periods covered for rental loss. (Opening up another can of worms here I know) But it can take up and over 8 weeks to have a hearing at QCAT and rent loss is capped at 12 weeks but tenant is already at least 3 weeks in arrears when we have to lodge court papers.

I know EBM has taken this into consideration with denial of access etc so allowing different rental periods of cover for the rent loss.

Like I said another can of worms but this is very frustrating for owners and pms alike.

 

I would assume that they'd need to send me a new PDS for any changes to policy. Are you able to elaborate or provide a PDS reference? Thanks Tom.

 

Admittedly I haven't looked through it myself, I have a trusted friend who loves the nitty gritty of these sorts of documents and gave me a rundown a while back. I might go for a dig through the latest policy details later tonight.

 

Thanks Tom. I'm going to give them a call today also based on this.

 

Hi all, instead of opening a new topic I thought I will ask here, I have recently taken out EBM but my property manager talks about depreciation of their policy and consider TS is better. Would any one of the experts on here be able to explain that a bit more for me? does it mean for example if there is water damage to the wall/ceiling then they won't pay for the actual costs of repairs/replacement but will depreciate as per the age?

 

Ok so imagine the property burns down total loss. Which insurer will payout cash immediately to the owner.
I am not interested in the insurer asking me to find builders and arranging quotes to repair etc.

I just want a cash payout., i will deal with the rebuild in my own time and own manner.

 

Just not how it works in the real world

 

Or a trusty property manager who will do that too.

 

The only way to know whether you are insured for this is to get legal advise on your policy

A few years ago when Brisbane got flooded, property managers, agents and home owners discovered for the first time that they did not have the cover they thought they had

 

True that. My PM organised mine as well and the broker said it was a good deal and policy which she could not beat.

Saved me a packet on 2 x car insurance though

 

The loss adjuster appointed by the insurer MAY offer that option IF they wish. Read your policy. I bet it says that the insurer may choose and their decision is final. Insurers will choose what costs them the least. Most policies insure you for reinstatement NOT what you lost. reinstatement covers additional costs - If you dont rebuild they may not factor those things in eg landscape, architects plans, etc If you want less than they are prepared to pay to rebuild they may entertain the idea and may even discount their offer and its a take it or leave it offer. But they will decide.

 

Hi All,
I've been looking to upgrade my insurance and seem to be finding it hard to get the right mix. I've looked into EBM and they look good except for a couple of exceptions. The main problem appears to be that they don't cover for unknown structural defects that some insurers do. This then flows onto contents and as some posters have found on here there is no coverage to building or contents in the event of a leaky roof etc that is due to an unknown structural issue. I'm not too keen on this as who knows what structural issues lie unknown and these are the big ticket items...

Has anyone managed to get coverage for unknown structural defects from EBM or succesfully used a combination of another insurer for building and contents and EBM for landlords?