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EBM Insurance Prices

Discussion in 'General Property Chat' started by Jmillar, 25th Sep, 2016.

  1. Jmillar

    Jmillar Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    49
    Location:
    Sydney
    Hi guys,

    Just wondering what you pay for insurance for units? I just got renewal letters for 2 units in Sydney at $355 each. I thought last year I paid under $300 but I could be wrong...

    I have 9 policies with them so I'm pretty sure I have some sort of discount applied but off memory I think it only applies to the policies for houses, not units (as they can't discount it any further)?

    Cheers
     
  2. Jerry O

    Jerry O Well-Known Member Premium Member

    Joined:
    21st Jun, 2015
    Posts:
    360
    Location:
    NSW / Melbourne
    contact brett_c from the forums. he might be able to do something given that you have a few policies with them. worth a try at least. worst that could happen is you get a no, right? :)
     
  3. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,576
    Location:
    Adelaide, SA
    Thought it was 265 here
     
  4. Magnet

    Magnet Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    247
    Location:
    Sydney
    We paid $350 each year from 2010 onwards for Sydney unit insurance.
     
  5. brettc

    brettc Well-Known Member Business Plus Member

    Joined:
    19th Jun, 2015
    Posts:
    112
    Location:
    Gold Coast
    You may have received a 60 days free for 12 months price last year as a PropertyChat member discount, $355 is the current NSW premium for RentCoverUltra. That said, their is a discount once you have 5 or more properties which applies to RentCoverUltra (not RentCoverPlatinum) so we should be able to do something with those at least.

    If you can send me a private message or email me at brettc@ebm.com.au with your name and all property addresses (for the 9) I will see what we can do.

    Just as a footnote, we don't arbitrarily reduce premiums simply to try to keep business, we believe very strongly in the value of the policy, as a general rule cheaper premiums mean less cover when you go to claim. It's critical we maintain the integrity of the policy by setting premiums appropriately to the risk, otherwise there is the potential to destroy the loss ratio and place the whole facility in jeopardy. That's one of the reasons we have been able to have the same underwriter for 25 years, we make sure everyone gets there fair share and there is the right money there to pay claims.
     
  6. Jmillar

    Jmillar Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    49
    Location:
    Sydney
    Thanks Brett, email sent.

    Appreciate the help.