NSW Landlord insurance

Discussion in 'Property Management' started by Mumbai, 13th Jan, 2021.

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  1. Tom Rivera

    Tom Rivera Property Manager Business Member

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    I was under the impression EBM was back to offering full cover? In what situations are they not offering any coverage for damage in their landlords policies?
     
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    Varies per state perhaps? Here in SA it’s still via accredited agents only.
     
  3. George Smiley

    George Smiley Well-Known Member

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    My apologies- their landlords product does cover damage to non-fixed contents by tenants but as an optional extra. For existing EBM customers, I did see read on their website suggesting cover won't change for existing customers but I can't that section now so would give them a call before commenting any further.

    So I'm assuming it's not for all accredited agents and based on other factors such as agent history?
     
  4. Hayley Cannon

    Hayley Cannon Well-Known Member

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    I believe for all accredited agents however do not quote me on that. I know i am able to put their usual policies in place for any of my clients whether they have held EBM insurance previously or not
     
  5. Never giveup

    Never giveup Well-Known Member

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    We are dealing with EBM directly for one of our IPs and recently got the renewal for the platinum cover (covers all 6 sections) - It is higher than last year ....;(
     
  6. Shawn

    Shawn Well-Known Member

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    Got 3 properties with EBM at the moment and have been with them for over 5 years.

    Received my most recent renewal for a house and granny flat in Western Sydney. Price is $2800+.

    This is quite high - though I do acknowledge there are two buildings to cover. Is this normal?

    My two other premiums with EBM are $1200-ish. They are single freestanding houses in VIC and QLD.
     
  7. Never giveup

    Never giveup Well-Known Member

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    We git renewal from EBM for our regional NSW IP and I will upload what are we covered and would like to get your opinion if worth getting building n landlord seprate
     
  8. Never giveup

    Never giveup Well-Known Member

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    I think I uploaded EBM policy details on another thread about ebm :)

    Also, we have Platinum cover with building and contents combined- worth separating or is it good price?

    Is it worth going to QVE direct to save ebm commission?
     

    Attached Files:

  9. Never giveup

    Never giveup Well-Known Member

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    Further to the above, reached out to GIO, AAMI and Terri sheer - AAMI policy isn't suitable and couldn't go through Terri sheer due to long wait time over 16 minutes compared to EBM direct call and person answered.

    GIO is economical than EBM but will go through their PDS as the excess works bit differently.
     
  10. bythebay

    bythebay Well-Known Member

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    Mel, does this quote include rent default?

    Ta
     
  11. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    Yes rent default is back, although I haven't looked at pricing the last few weeks.
     
  12. bythebay

    bythebay Well-Known Member

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    Are they rolling over the pre-COVID policy wording for your existing clients (I assume the old wording did not contain exclusions for communicable diseases)?

    If they are going onto a new policy wording, does the updated wording have exclusion for communicable diseases?

    If say a tenant says they lost their job due to covid restrictions, would it be covered by EBM policy?

    Thanks
     
  13. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    For EBM rentcover in NSW (through a distributer) - here's the rent default wording from the PDS:

    d) the tenant has defaulted in the payment of rent. ‘Default’ includes; - termination on the grounds of hardship which has been authorised by a court or tribunal.
    e) the tenant vacates your premises without notifying you.
    f) your premises cannot be occupied due to denial of access caused by the tenant refusing to vacate your premises after a lawful order for eviction or possession has been served upon them


    Here's the full PDS: https://www.rentcover.com.au/getmed...c952d4a2cc8a/rentcover-pds.pdf;.aspx?ext=.pdf

    So it looks like same wording as pre-Covid.
     
  14. bythebay

    bythebay Well-Known Member

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    Thanks Mel, looks good!
    Should’ve stayed with them.