IS EBM the best landlord insurance?

Thanks @brettc its an policy before 1st February 2017 and I've just renewed it now so I'm covered next time.

 

If you'd like to private message me your client code I can double check to make sure there is no confusion on dates if you like.

 

Hi @brettc I've shot you a PM too. Same scenario. Could you please look into it?

 

Is it true that to receive a discount from EBM for being a PC member, you have to pay yearly premium upfront?

 

Premiums are yearly upfront either way

 

Our insurance for PPR is paid monthly.

 

Right, but its not with EBM is it?

 

No its not. This would be my 1st experience with EBM.

 

For larger portfolios EBM do offer premium funding. But when you have 12 or more properties, every policy is the equivalent of a months premium so why pay the interest on premium funding

 

I don't know how other have managed to get claims approved from EBM as my experience has been terrible. I recommend you avoid them at all costs, as my policy was not worth the paper it was written on when I actually needed to claim.

 

All of my LL policies are with EBM. We have had three claims on three different properties.

Never had any problems and claims were fully paid.

No work for me; I don’t know how difficult it was for the PM.

 

They wouldn't accept my claim for a storm damaged fence. Not impressed. Neighbor didn't want to replace it so it got worse over time. Now that it's really bad then ebm won't cover it.

 

I think most building insurance won't cover fence though.

 

How do you get this discount? Do you have to call up and ask?

 

Enter promo code Propertychat on signup

 

Thanks heaps!

 

Unfortunately an Insured will sometimes have a perception of what should be paid which is contrary to what is covered by the policy. In saying that, there is sometimes miscommunication about what has occurred, and as a result claims can require reviews. All insurance policies only cover what is detailed in their Product Disclosure Statement and Policy document, and under any policy there are limitations as to what is covered.

We are always open to reviewing claims and ensuring fair outcomes, and all procedures and timeframes are in accordance with industry codes of practice and legislative requirements.

As your claim is outside the policy coverage, and directly relates to a listed exclusion, your claim has been forwarded to our underwriter QBE’s Internal Disputes Team for their review, and we await their advice.

I understand the reasons for denial have been detailed to you, as well as our suggestion that your rent loss claim should be submitted to your building insurer, who was responsible for, and paid for the original repairs.

If you continue to be dissatisfied with the outcome of your claim, the Financial Ombudsmen Service is also available to you.

 

Question, we have EBM RentCover Platinum. Would we still need a separate house insurance to cover the building/contents for damage not caused by tenants?

Thinking about changing EBM to another provider after reading about the nightmares people are having with rejected claims. Also seems EBM charged us for the next year automatically via property manager without even telling us.

 

Platinum covers Building and Landlords insurance, so you wont need a separate policy.

Any insurance company will have unhappy clients who didn't read the policy properly or lodged their claims poorly. In my experience as a Property Manager, EBM have been largely excellent. The few exclusions (i.e. rodent damage or smoke damage) aren't covered by anyone else anyway.

It sounds like your Property Manager is at fault for that payment, not EBM.