Insurance broker recommendations

Hi everyone,

Looking for some insurance broker recommendations. The property is in QLD but I am in VIC if that makes any difference.

Also thinking I should review my life and TPD insurance within my super as I've never paid attention to it. Not sure if there are better options outside of super. Would this be done separately by a different insurance broker? From what I've seen this doesn't look like something covered by some of the insurance brokers that cover landlord & building insurance.

Thanks in advance!

 

Thanks @wylie! I'll get in touch. Have you only dealt with him for building & landlord insurance?

 

Fair enough, were you finding it more expensive through the broker for building and landlord insurance? Perhaps I'll get quotes from both brokers and the insurance companies themselves. Any recommendations for the insurance companies? I have seen TS and EBM mentioned a lot on other threads, not sure of any other companies.

 

Cool, I'll check direct with those two and compare with Jason. Thanks for the help!

 

Here's my experience with insurance brokers. Started using a broker recommended by a friend back in Melbourne at the time, circa 2006. All landlords and building policies except one commercial were placed with CGU. Over 15 rentals at the time.

They claimed to have assessed all options yet 14 policies (for properties spanning three different states) were with one provider. Prices weren't too obscene in the beginning. Fast forward half a dozen years and with ridiculous price rises year on year for three prior years, I rang to enquire why the portfolio hadn't been reviewed and merely stuck with CGU. The reply was that because of the Qld floods in 2011 all insurance far more expensive. Eighty bucks times 15 policies for printing and posting my premium invoices. There's a comfort zone if ever I saw one.

Three hours on the phone and I saved around 10 grand. I go a la carte these days and do it all myself. From time to time I play my providers off against each other. And, I am a nerd; I read the PDS and advise the brokers so when they say this cover is superior

Same experience with a local church community group I am part of on the Gold Coast and I am the treasurer for. They used the same broker for over 15 years for some of the properties they own. Short of it, I managed to save them $19,000 the first year. I became part of the executive. When the broker saw I was taking away the business, they miraculously found about $10K in savings. Still couldn't cut it with the provider I sourced.

Not saying all insurance brokers are the same, but........eyes wide open. Buyer beware

 

Huge savings there, well done! Definitely will make sure that I'm reviewing all the policies yearly when they raise their prices.

Not sure I have the patience to read through the PDS, I'll compare the prices and get the higher ones to tell me why I should pay more for their policy In saying that, are there specific things I should be looking out for? I have no idea what things are essential to cover and which providers to stay away from.

Do you find that you're across multiple providers with so many properties?

 

Hi @wylie - do you know if Jason was on a real estate podcast (likely the property couch I think) at one time?
I was impressed by the knowledge & coverage but I can’t remember who the insurance broker was.
I’m sure he was based in Brisbane.
Sorry not much to go on and my google search didn’t come up with much.
TIA

 

Thanks Player, I guess everyone needs to put food on the table, brokers included. May I ask who you have hit up directly? Trying to find best for Qld, WA and NSW is an absolute ball-ache but $10k will contribute to the land tax coffers I then don't need to find.