Insurance options

Discussion in 'Airbnb & Short Term Letting' started by MollyBella, 10th Apr, 2018.

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  1. MollyBella

    MollyBella New Member

    Joined:
    31st Jul, 2015
    Posts:
    3
    Location:
    Sydney
    Hello everyone,

    We are considering building a second storey onto our home with separate entrance, kitchenette, etc. with view to renting it out as a vacation rental. I'm having a hard time finding insurance coverage that would cover the entire building. EBM will cover the building with OO on the bottom and tenant on the top but only if it is a long term tenant not a vacation rental. Terri S won't cover it at all with OO and tenant in the same building.

    We have experience renting a granny flat via Airbnb/Stayz in the area so I'm not concerned about that side of things but I do want to make sure we are able to get insurance for the building before going down that route.

    Does anyone have any other suggestions for insurance companies or ways to work around this?
    Thanks!
     
  2. teetotal

    teetotal Well-Known Member

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    7th Nov, 2015
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    736
    Location:
    Sydney
    EBM does have a ‘short term rental’ product. Yours may not be straightforward to do it online, Have you spoken to them on the phone ?
     
  3. MollyBella

    MollyBella New Member

    Joined:
    31st Jul, 2015
    Posts:
    3
    Location:
    Sydney
    Hi Teetotal,
    I spoke to EBM before writing the post, they said they wouldn’t cover us for short term coverage if we (owner occupiers) are living in the building. Sad!!! Thanks for the suggestion though!
     
  4. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    9th Jul, 2015
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    Location:
    Perth
    I would get an insurance broker on the case for this one.
     
  5. geoffw

    geoffw Moderator Staff Member

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    Newcastle