insuring 2 houses 1 title

I know with EBM and TS that they'll do one building policy and two landlords policies, we've had no problems with that.

 

That's what I've got for a block of flats, but for the dual occ, because they are separate buildings, we've had to do two completely separate policies.

 

I am in the middle of this atm.
Trying to get insurance for house and granny flat (separately fenced and separately leased).
So far only EBM and Terri Schier are allowing this. The thing that seems to be the no-go for most insurers is the two leases on one title.

 

Yes LL cover must be seperate policies if they are seperately let. If used by family a LL policy is not a correct policy for the building and both would be one house and contents policy.
They are different occupant risks.

State laws concerning what can be let dont impact other than if there are two insured risks or one. That said, if you let a GF illegally a claim may be refused especially if its under the homeowner policy and there is a seperate GF and its not noted on policy. If nanna was occupying the GF the home and contents cover may cover both. A LL policy usually only covers a lease. If not let its the wrong policy. If its shortstay then the GF should have a shortstay policy not a standard LL policy. Its a bit like assuming your caravan is covered because your car is towing it.

Construction of a new dwelling is usually excluded from all cover until a occ cert is issued and handover and move in occurs. It is a matter for construction insurance (builder) until handover. Even on your land. Important to get that right before works start. Who is insuring it ? Adn who can get cover ? Dwellings under construction clauses vary so a major reno may also be uninsured. eg NRMA says "under initial construction" where some say "undergoing construction" . NRMAs clause doesnt address what happens if its an extension and when to ensure it is included.

 

Is this LL cover ? LL policies will not insure property in such cases on one policy as easch tenant is a seperate risk and policy limit. Just contents and LL events. The buildings are usually on a single buildings policy.

 

Looking for building and landlord.
A number of insurers I spoke to won't insure with two leases on one property. Didn't go further.

 

Ended up going with Suncorp. Did the House and GF as strata. Their price was soooo much cheaper than anyone else. Pleasantly surprised.

 

EBM quoted me single policy to cover gf and building? I queried a few times and they said it’s no problems?
Written into the notes of policy of 2x buildings.. TS and others queried wanted separate LLI.

with Suncorp/ AAMI
1. Strata doesn’t cover the painting
2. LLI - 4 weeks out of pocket. Must be on fixed leased (if not, 2 weeks max) and max of $6k defaulted rent.