IS EBM the best landlord insurance?

I had 5 properties covered by EBM and now I have none, I had the initial assessments reviewed and then reviewed again QBE as per their review process. I had 2 claims on 2 different properties. 1 was rejected outright and the other only partially covered. I'm glad others have had a good experiences, but as was explained very clearly to me in conversations with EBM, that they are there to look after the interests of QBE and not their 'clients'.

 

What were the claims for exactly ?

 

Haha! I could go on for hours. Waiting to see if they pay compensation and if they do I assume it will come with a gag order. If not you'll read about it on every property forum and facebook.
They use their own builders.
I will say that they told me their "normal" lead times are 2 weeks for the claim to be approved and another 2 weeks for the builder to be assigned.

 

Hello Brett @ EBM
I had the EBM Rentcover Platinum for last year and now up for renewal. Just did a quick premium comparison between EBM & TS (Landlords Preferred Policy + Residential Building Insurance Policy) with same building/ content amounts, EBM quote was $1385 and TS $1055. Discussion is around both being same covers other than the service, do you know any other cover differences costing $330 or 24% more. Thanks

 

We bought 1st time this year for our regional NSW IP.

 

If you would like to private message me details of your property including postcode, construction and sum insured I will take a look for you. Occasionally there are specific postcodes that Insurers look on differently (often to do with balancing their risk across different areas), but that sort of difference would seem very unusual.

 

Claim no:1 - Water entry into apartment tripped the safety switch, tenants came back 3 days later to find the freezer had defrosted and the water had soaked into the floating floor causing it to warp. I claimed on the damage caused by the power outage. - claim rejected as water entry from building defects.

claim no:2 - burst water pipe in bathroom damaged carpets, tenants moved to stay with their parents for some of the time and asked for a rent reduction. Carpets paid for, but partial loss of rent rejected.

Of course as others have mentioned its our fault because we didn't read the exact terms of what the polices covered.

As for EBM, though I did think I was buying from a Broker, acting on their clients behalf, rather than just buying a QBE policy.

 

Thank you Brett. I've PMed you the details

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We have used PIP - Property Insurance Plus successfully for many years. Great customer service, cost effective and you get 14 months for the price of 12 when you first sign up. The manager for each state is in the link.

 

@ Brett, Just checking, have you received the PM?

 

Yep my apologies, I got caught up with a major project and have only just surfaced to catch up, I've replied now.

 

Thanks Brett