IS EBM the best landlord insurance?

They are similar or for same purpose, but I think they are different, yiou have to delve into it a bit, rather than just a brief glance

lol....your not Robinson Crusoe.....

 

To be honest...I have the same issue.

 

@Ko Ko Naing ......the first part of my reply above to @The Y-man was for you

 

No issues here with EBM

Was unhappy with the initial assessment and asked for the claim to be reviewed and ended up with a settlement that better aligned with expectations. Didn't cover 100% of the loss but covered what was articulated in the PdS with a little bit of clarification. Been with them for 8 years on the "Platinum" product and every year I look elsewhere but never find any better offers for my situation

 

Does EBM cover self managed properties?

 

Yes, and they don't charge more for self-managing landlords

 

Has anyone heard of Property Insurance Plus? Property Insurance Plus - They were very good when they started back when I was in VIC, don't know of anyone using them now so I don't know if they still are but they used to cover things like 'poor house keeping' etc.

As a PM, I have to say that EBM and Terri Scheer seem to be 6 of one and 1/2 a dozen of the other - I've had troubles with claims on both and also had some super easy claims.

Never had an easy straight forward claim with AAMI !!

 

Hi Sarah,

Yes, I recently changed LL and building insurance for one property from Comminsure to PIP.
Their insurance is underwritten by Hollard Insurance Company. Was the easiest & fastest quote ever, just asked postcode and sum insured. Although it was necessary to phone, I nearly didn`t bother as it was not available online.

Searched PC insurance threads and they had a few hits with no negative feedback. After going through the PDS for EBM, TS and PIP they all have some different inclusions, exclusions and conditions. Difficult decision between EBM & PIP, can`t recall exact details but felt they gave better cover for animal damage ( had issue with a dog indoors previously), may have had more cover for clean up costs and not the multiple excess charges for accidental or malicious damage. They were also cheaper, particularly on building cover, and offered 14 months insurance for annual cost to new clients.

Like any insurance, you really only find out how good they are when it comes to making a claim. As a PM who has dealt with them, I would value your feedback regarding any claims.

The problem, as I see it, with AAMI and also TS now, is that they are underwritten by Suncorp. I have 2 other properties insured with them and the only claim I have had was 2 years ago for water damage from a burst pipe. It didn`t go all that smoothly and took many months of delays before a mediocre settlement. Getting what I pay for I guess, pretty cheap really, and been slow to change.

 

Hi R.C,

I personally haven't had any claims with PIP, however, my Mum (also a property manager) has had a few claims through them over the years and had no issues. She is the one who originally put me on to them after a few hassle free claims.

I honestly hope you never have to find out how good they are .

 

Thanks for your reply and the positive feedback.

Likewise!

 

If I make a claim for rental arrears through EBM as a no excess claim, can I expect my premium (landlord only) to increase next year? Tenants have moved out and the amount is only $500-$600

 

Does the bond cover this amount?

 

As a general rule any premium increases to not relate to specific policies, the overall portfolio and other factors are the driving force, so the answer would no. In particular in this case you are talking about a very small claim. Presumably the bond is being exhausted through other costs etc.?

 

The bond is $1600. Tenants left were in arrears (rent + water bills) about $600. Cleaning $400. Iv got a quote to repair damages left by the tenants at about $1200-$1500. My rentcover insurance is approx $380/year. Is it even worthwhile to submit a claim?

 

Obviously any payment would be subject to a claim being submitted and everything being accepted, but just on the surface it would appear that your worst case scenario is that you would receive the lost rent. So even if it's only a few hundred dollars it's better in your pocket than not I would think.

 

Thanks Brett. I just dont want it increasing my rentcover premium the next year as it would have been counted as a claim. If no premium increase Ill probably put forward a claim for at least rent in arrears (does this cover water usage?)

 

Who is the underwriter for EBM and TS?

I need new building policies. Have had a HORRENDOUS dealing with Hollards underwriters so will not take out anything with their name on it.

 

EBM = QBE
TS = Suncorp

Would you care to share?

 

Is there anything specific with Hollards that was done badly?