Landlord & building Insurance Recommendations

Discussion in 'Property Management' started by 2020 Property Investor, 13th Jan, 2020.

Join Australia's most dynamic and respected property investment community
Tags:
?

Who would you recommend?

  1. Terri Scheer (TS)

    8 vote(s)
    44.4%

  2. EBM

    9 vote(s)
    50.0%

  3. Property Insurance Plus (PIP)

    1 vote(s)
    5.6%
  1. 2020 Property Investor

    2020 Property Investor Active Member

    Joined:
    13th Jan, 2020
    Posts:
    37
    Location:
    Sydney
    Hi All,

    First post on this forum so hopefully in the right place!

    I am about to purchase my first investment property (house) in Brisbane and would like to know from those who have made claims themselves (or on behalf of clients), who do you recommend out of the following list of insurers and why?
    • EBM
    • Terri Scheer (TS)
    • Property Insurance Plus (PIP)
    Thank you
     
    2020 Property Investor, 13th Jan, 2020
    #1
  2. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    9,190
    Location:
    Adelaide and Gold Coast
    Ebm, pip, ts in that order. These are the top tier.

    Aami 2nd tier

    Banks and supermarkets dont even bother
     
    D.T., 13th Jan, 2020
    #2
    ndpjai, Michael Mitchell and Dan Wood like this.
  3. melbinv82

    melbinv82 Well-Known Member

    Joined:
    5th Nov, 2019
    Posts:
    71
    Location:
    Melbourne
    Any reason to not go with the bank insurance? I am about to get a Ip, through nab and they gave me a quote for building and landlord through allianz. I understand the banker will get the commission from it.

    But is there a big difference? Thanks
    I have been quoted $77/Month, for a $525000 house, building valueled at $350,000 plus landlord insurance included
     
    melbinv82, 5th Feb, 2020
    #3
  4. Dan Wood

    Dan Wood Well-Known Member

    Joined:
    18th May, 2019
    Posts:
    353
    Location:
    QLD
    You need to do some due diligence, what inclusions what differences etc etc ..

    EBM for me was 350 per year for just LL insurance for a 2 bedroom unit.
     
    Dan Wood, 5th Feb, 2020
    #4
  5. Michael Mitchell

    Michael Mitchell Property Manager Business Member

    Joined:
    17th Sep, 2018
    Posts:
    1,387
    Location:
    Brisbane (Nundah)
    The cynic in me thinks the building insurance should always be from the mortgage provider if applicable as they'd have a vested interest in insuring their own security, and for landlords insurance, I'd go with a top tier firm only - eg. EBM or TSI.
     
    Michael Mitchell, 6th Feb, 2020
    #5
  6. Warren from Geelong

    Warren from Geelong Active Member

    Joined:
    22nd Nov, 2019
    Posts:
    30
    Location:
    Geeong
    We always recommend Property Insurance Plus and EBM. Terri Scheer would be third for us and we generally steer clients away from the big insurers and banks. Why take a car to a bicycle mechanic?
     
    Warren from Geelong, 6th Feb, 2020
    #6
  7. thesuperman

    thesuperman Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    460
    Location:
    Australia
    Never heard of Property Insurance Plus but just took a look at their site. Doesn't look like a company I would want to deal with or try out ever with a message on their site saying:

     
    thesuperman, 30th Mar, 2020
    #7
  8. Player

    Player Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,100
    Location:
    Paradiso

    I think there's an Embargo on new Land Lords policies in the current environment and uncertainty
     
    Player, 30th Mar, 2020
    #8
    Hosko, Tom Rivera, KateSydney and 1 other person like this.
  9. housechopper2

    housechopper2 Well-Known Member

    Joined:
    5th Oct, 2016
    Posts:
    493
    Location:
    Melbourne
    Good luck finding landlord insurance from the top tier right now.
     
    housechopper2, 31st Mar, 2020
    #9
    Michael Mitchell likes this.
  10. Alyce Valerie

    Alyce Valerie New Member

    Joined:
    16th Jul, 2020
    Posts:
    3
    Location:
    Sydney
    I just insured with Eagle Protect and we recommend them to our clients, They are coming onto the market against EBM and Terri Scheer, Check them out !
    They are by far the most competitively priced and also have the best coverage.
     
    Alyce Valerie, 16th Jul, 2020
    #10
  11. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    9,190
    Location:
    Adelaide and Gold Coast
    Being that you're their account manager, of course you'd recommend them lol
     
    D.T., 16th Jul, 2020
    #11
    craigc and Tom Rivera like this.
  12. Alyce Valerie

    Alyce Valerie New Member

    Joined:
    16th Jul, 2020
    Posts:
    3
    Location:
    Sydney
    i don't but thank you for your concern.
     
    Alyce Valerie, 16th Jul, 2020
    #12
  13. Ted Varrick

    Ted Varrick Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    1,941
    Location:
    No Mans Land
    Care to clarify?
     
    Ted Varrick, 16th Jul, 2020
    #13
  14. in the garden

    in the garden New Member

    Joined:
    16th Feb, 2022
    Posts:
    3
    Location:
    Gladstone
    Hi, does anyone actually have claims experience with Terri Scheer. I'm looking at the possibility of Short term rental of a IP. Their reviews are terrible! And EBM don't cover for self managed properties. Thanks for any insights.
     
    in the garden, 16th Feb, 2022
    #14