Investment property building and rent cover insurance

Discussion in 'Property Management' started by Investaa, 9th Nov, 2019.

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  1. Investaa

    Investaa Well-Known Member

    Joined:
    20th Mar, 2017
    Posts:
    51
    Location:
    Melbourne
    Hi All,

    My current policy for my IP is with EMB RentCover and it will expire tomorrow, I have not received any email to notify me about this but I had reminder for this.

    I called their numbers to pay my policy on the phone but their account team does not work over weekend. also I do not have any invoice number because I did not receive it to pay that.

    What is your recommendation, I do not want to be uninsured for even couple of hours.
    I called Aamy and they are working over weekend and I am able to sign a new policy with thme and I believe other major companies are open as well.
    Do you think AAmy is a good choice?

    I did not expect EMB do not have someone to accept phone payments. they asked to call back on Monday
    If I had invoice number I was able to pay online and is easier to stay with same insurer for me. less paper work.

    Thank you
     
    Last edited: 9th Nov, 2019
  2. The Y-man

    The Y-man Moderator Staff Member

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    Melbourne
  3. TMNT

    TMNT Well-Known Member

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    23rd Jul, 2015
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    Location:
    Melbourne
    if all else fails, and you cant get anyone, you can go to ebm website and make a payment,
    you enter your client number and invoice number,'

    since you dont have an invoice number, you could use an old one and then the $$$ should get applied to your account, this should make your case for coverage far stronger if anything happens before monday
     
  4. Investaa

    Investaa Well-Known Member

    Joined:
    20th Mar, 2017
    Posts:
    51
    Location:
    Melbourne
    Thank you for your reply, I think I might get a new policy with Terry Scheer they have online facility and my current qoute is less than what I paid last year for EBM
    or maybe sign now ans cancel in 15 days and continue with EBM, at the moment being insured is more important for me.
     
    Michael Mitchell likes this.
  5. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    11,412
    Location:
    Melbourne
    I did not know EBM can do email invoices?
    I receive a hard copy letter about 2 months before it is due (I have complained about this), which then get's lost in the paperwork pile.

    The Y-man
     
    Mumbai and Dan Wood like this.
  6. Dan Wood

    Dan Wood Well-Known Member

    Joined:
    18th May, 2019
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    Location:
    QLD
    Yes it seems a bit backwards, I had to call to get the results of a previous claim, it was only via email, they have a claims portal..

    Thanks @Investaa for the reminder to make a reminder ;)
     
  7. Warren from Geelong

    Warren from Geelong Active Member

    Joined:
    22nd Nov, 2019
    Posts:
    30
    Location:
    Geeong
    Hey @Investaa, I would definitely give this feedback to EBM. They're good and we use them a lot. Our other awesome insurers are Property Insurance Plus. But, the reason I thought I would reply on this thread to suggest that you have your property manager pay this and other bills on your behalf - that's standard practice and all part of the service :)
     
  8. Mady

    Mady Well-Known Member

    Joined:
    11th Apr, 2017
    Posts:
    48
    Location:
    Melbourne
    Hi All,

    I am with Terri Sheer, unfortunately had 2 claims with them this year across 6 properties ranging between $2-3.5k each.

    I had another property issue this week, I am thinking should I lodge a claim for roughly 2-3k expense or just pay out of pocket. Issue this week, water leak behind the shower wall this week. Plumber fixed it, tiler is patching 6 new tiles which look bad as can’t get the exactly same white colour. Other side of the wall behind the shower is soaking wet and had vinyl flooring stuck to wooden house floor of a 30 year old house on concrete stumps.

    Doing 3 claims this year with Terri Sheer will raise my premiums or cause insurance issues long term? Should I absorb the $2-3k expense to have less claim history? Water damage to wall and wooden house floor drys up in hot weather or commercial dryers etc are required. Water was there for around 8 days roughly....can I change vinyl that was soaked in water for 8 days?
     

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