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EBM Insurance

Discussion in 'Property Management' started by thesuperman, 25th Aug, 2015.

  1. thesuperman

    thesuperman Well-Known Member

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    Hi,

    Does anyone know if this is correct? I''ve been told this by someone but not sure if they're right or wrong.

    1. Do not cover flood from rain
    2. Do not cover damaged done by tenants.
     
  2. KDP

    KDP Well-Known Member

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  3. Hodor

    Hodor Well-Known Member

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    Pretty sure landlord insurance does. Policy had a whole lot of different excesses listed depending on damage from memory.

    Plenty of good feedback from people that have claimed through them which is why I went with them on my last property. I have no experience claiming with them myself
     
  4. Stimpy

    Stimpy Member

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    1: correct under landlords insurance. Flood 'should' be covered by your building insurance depending if its in a flood zone or not..Storm damage would be covered iirc

    2: landlords insurance does cover malicious damage or theft by tenants as well as accidental damage to building.

    have a read HERE
     
  5. Perp

    Perp Well-Known Member

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    EBM does not presently cover flood under either their building or contents policies.
     
  6. D.T.

    D.T. Adelaide Property Manager Business Member

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    I'm fairly certain the rentcover product does. I'm meeting with the SA state manager tomorrow; I'll bring this up and will clarify for you.
     
  7. Coota9

    Coota9 Well-Known Member Premium Member

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    These may help.
     

    Attached Files:

  8. Perp

    Perp Well-Known Member

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    I read the PDS that @Coota9 has uploaded; per page 5 under definitions it says under "flood": "This policy does not insure flood."
     
  9. D.T.

    D.T. Adelaide Property Manager Business Member

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    Well that's a bit crappy. Perhaps I'll clarify 'why' tomorrow instead then, thanks :)
     
  10. thesuperman

    thesuperman Well-Known Member

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    Ok so for both EBM's "Building & Landlord" or "Landlord" only they don't cover flood but they cover malicious & accidental damage by the tenant.

    Wondering why they don't cover flood when other insurers do....
     
  11. HD_ACE

    HD_ACE Game-Changer Premium Member

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    Currently work in progress.
     
  12. D.T.

    D.T. Adelaide Property Manager Business Member

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    I brought this up in our meeting today and said that most investors have been requesting flood cover be included in the PDS. He says one of the reasons they hadn't is because they wanted to keep the policies identical across Australia and wasn't fair for WA/SA to be paying for flood cover and not needing it.

    Sounds to me like it's something they're actively working on including it, but trying to find the best way to do so. I assume this could simply be a tick box on the application form as to whether you want it or not and obviously pay a few bob extra.
     
  13. thesuperman

    thesuperman Well-Known Member

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    Lol so WA/SA doesn't rain there so 100% there couldn't be a flood where property is damaged? Sounds pretty silly reasoning to me...
     
  14. sash

    sash Well-Known Member

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    No flood cover but cover damage by tenants up to 50k I believe....
     
  15. D.T.

    D.T. Adelaide Property Manager Business Member

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    No one said that mate. Its just lower probability is all, which is what insurers work with. I certainly don't want to pay rockhampton level of cyclone cover, for example.
     
  16. JK200SX

    JK200SX Well-Known Member

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    Can someone let me know who the EBM rep is on propertychat? Also, do they offer a discount for members of this forum?
     
  17. Perp

    Perp Well-Known Member

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    @brettc is the man you need to talk to. :)
     
  18. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Use Somersoft as the promo code and you get first 2 months free on a new policy
     
    cherubym likes this.
  19. LLance

    LLance New Member

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    Where do I enter the promo code? Thanks.

    I went online and did a quote, but can't find field to enter promo code.
     
  20. Mumbai

    Mumbai Well-Known Member

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    Call them. They are pretty helpful