We've been with EBM Rentcover for many years when we approached them directly ourselves. I just got the renewal notice and noticed that it has an "Agent Name" listed on the renewal notice. Not sure how they know about it as I don't think we ever gave it to them. By having an agents name listed on the policy, does that mean EBM is giving the property manager a kickback therefore we are getting charged extra for our insurance, more than we should be getting charged, even though we went direct through EBM?
No, that's pretty absurd to think.. It's more than likely if the PM rings rent cover on your behalf. @Sharon Fox-Slater
I’m in Victoria, but I have a list of all policies I’m authorised on or have been listed on - even if the owner has organised directly. Some agents on the initial policy will earn a small commission (or used to be able to), others will pass this commission back to the owner as a discount (this is what I’ve done). There’s none of that for renewals though.
EBM pays us something to take out a B&C policy, $30 or something? I can't remember, I've never paid attention. I don't believe we get it on the LL policy. Either way, it doesn't increase the cost of your policy, that's absorbed by them. I asked them about it when we first starting using them because I'd rather not get anything if you were paying for it, but they assured me you were still getting the best price.
Yes But doesn’t cost you any differently. It also helps speed up claims process , if they’re an affiliated agent they likely have access to the online claims portal which is super easy to use and super fast to get claims back. We’re top level accreditation with them , so we also get sneak peaks on new informations & happenings, etc.
And a good agent will remind you of the upcoming policy renewal date in case you forget. My advice to clients is to have all bills be sent to the agent for payment - this gives you a nice summary statement at EOFY and if the agent is organised, they will know about this extremely important renewal date before you do
I'm planning renovations in an IP soonish. Has anyone with EBM had experience with the insurance cover during this time ? From what I understand there is a limit of renovations being 50K and if property is vacated more the 90 days, the excess will be increased. EBM policies seem to be bundled, so if during this time the place is vacated and don't want the rental coverage, don't have a choice to be continue with the policy. Should I go for the lowest rental policy then ?
