Landlord insurance - new clients

Discussion in 'Property Market Economics' started by woofwoofpawpaw, 10th May, 2020.

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  1. woofwoofpawpaw

    woofwoofpawpaw Active Member

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    14th May, 2017
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    Location:
    vic
    Hi,
    We are planning to switch our PPOR to IP
    Has anyone purchase landlord insurance recently?
    What's covered and what's not
    A big jump in premium?
     
  2. Brumbie

    Brumbie Well-Known Member

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    Location:
    Canberra
    Tried to get it last week. It does not cover rental loss or damage at the moment. Totally worthless policy if you ask me as it only covers the same things as strata building insurance. You need to self insure for a while unfortunately. Try again in 6 months or so. The actuaries will be all over this though. I bet premiums will be stupid level.
     
    Tom Rivera likes this.
  3. woofwoofpawpaw

    woofwoofpawpaw Active Member

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    Is this in Victoria?
     
  4. woofwoofpawpaw

    woofwoofpawpaw Active Member

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    How about getting it from the bank that is financing the property?
     
  5. Brumbie

    Brumbie Well-Known Member

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    Location:
    Canberra
    Its national. Your state is irrelevant as all laws are similar. And banks dont sell it. Self insure or wait it out if you cannot deal with the risk.
     
  6. woofwoofpawpaw

    woofwoofpawpaw Active Member

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    What exactly does it mean by self insurance?
     
  7. Antoni0

    Antoni0 Well-Known Member

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    Birisbane
    If something happens you pay for it out of your own pocket.
     
  8. KateSydney

    KateSydney Well-Known Member

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    Seven Hills
    Commbank, Westpac and St George all offer Landlord Insurance in normal times. Maybe not at the moment, you'd have to check but they certainly provide a wide range of insurances usually.
     
    HUGH72 likes this.
  9. Brumbie

    Brumbie Well-Known Member

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    Location:
    Canberra
    Yep. I am talking about now. No one is offering it. In normal times every man and his dog tries to get your money until they have to pay and you really need it. Then the hills start calling them and they don't pick up the phone.