VIC Hollard vs EBM landlord and building insurance

Discussion in 'Property Management' started by Drekko, 10th Mar, 2020.

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  1. Drekko

    Drekko Well-Known Member

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    Hey guys
    I have gone with EBM with 2 of my rental property's with landlord insurance. Havent made any claims yet so unsure what EBM are like really
    My new ( third investment / rental property) Hollard has come to $200 cheaper then EBM

    Anyone know much about hollard insurance? Are they good or are they bad? Some google searching had limited reviews but they were pretty negative
     
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    Haven't used Hollard so can't comment.

    EBM claims service is excellent, and their coverage level for things like loss of rent, accidental damage, meth cleanup, pet cleanup, etc is all very good.

    Any insurer is only as good as their claims process, IMHO.
     
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  3. Never giveup

    Never giveup Well-Known Member

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    I have used Honan in the past but never heard about Hollard.our one prop with EBM and another wuth TerriSheer.
     
  4. Drekko

    Drekko Well-Known Member

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    haha meth cleanup! awesome
     
  5. D.T.

    D.T. Specialist Property Manager Business Member

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    Seriously.
    If you suspect meth use or manufacture in a rental, you can get it tested. If found positive, they'll reimburse you the cost of the test and for the cost of rectifying the property (ie if it needs to have gyprock redone or ceiling space redone etc , up to $65K).
     
  6. Drekko

    Drekko Well-Known Member

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    Can anything like this be done with smoking?
     
  7. D.T.

    D.T. Specialist Property Manager Business Member

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    No, that'd come under normal cleaning i suspect?
     
  8. Drekko

    Drekko Well-Known Member

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    Sometimes you cannot get the smoke smell out and yellow stains out of ceiling. Requiring walls to be repainted
     
  9. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    First test for any insurer is their actual policy. Hollard dont make it easy to read their PDS (none online) and how they split their insurance between Top and Essentials.

    Ahh it seems Hollard dont sell direct. They are a South African business who use resellers to flog their wares. Someone must pay the comms on these policies and to be competitive. I wouldnt buy a TV from Kogan so LL insurance wont appeal
    Landlords Insurance | Kogan Insurance
     
  10. D.T.

    D.T. Specialist Property Manager Business Member

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    That can be a bond claim (difference between entry and exit reports). We had EBM recently cover 50% of a whole-house painting job as it was cleanliness related (said they would have done 100% if structural related eg holes)
     
  11. Closet

    Closet Well-Known Member

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    How does ebm stack up for building insurance..
    Any good?
     
  12. Sharon Fox-Slater

    Sharon Fox-Slater Member

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    Sharon here from EBM RentCover. It is great to hear you have trusted us with two of your rental properties. We want to help protect the third. As D.T. highlighted above, ‘any insurer is only as good as their claims process’. At EBM RentCover, our team has settled more than 6,250 claims in the past 12 months worth about $24 million. We pride ourselves on being there in times of need. If you want to chat to one of our team about options, let me know and I can get someone to give you a call. Thanks.
     
  13. The Y-man

    The Y-man Moderator Staff Member

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    I've made claims many years ago (multiple) including complete feral tenant things and water leaks - EBM claim have been very fast. Having said that I got no idea what any of the others are like...

    The Y-man
     
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  14. TMNT

    TMNT Well-Known Member

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    my experience with EBM has been 9 out of 10, no major complaints except had a case manager who was an arrogant, rude, incompetent twat,

    other than that I can highly recommend
     
  15. D.T.

    D.T. Specialist Property Manager Business Member

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    Luckily haven't had too many claims for it - have had ones for things like water burst flooding a couple times, and for a car going our fence, and both were paid up pretty quickly without the usual hoops you normally get.

    Regardless of that though, i think its wise to have your building and landlord insurances with the same company. I've seen a few times where a claim might involve components of each part and it becomes a nightmare because both companies then tell you to talk to the other one first.
     
    Sharon Fox-Slater likes this.