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LL, Building & Content Insurance

Discussion in 'Property Management' started by tajid, 23rd Aug, 2015.

  1. tajid

    tajid Member

    Joined:
    23rd Aug, 2015
    Posts:
    14
    Location:
    Sydney
    hi guys got a question, whats normally annual premium for LL, content & building insurance?

    Read some of the threads, tried requesting quote on EBM's website & got around $900, sounds a bit too much? First IP so plenty to learn.

    Thanks in advance.
     
  2. HD_ACE

    HD_ACE Game-Changer Premium Member

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    Location:
    Perth
    Sounds pretty good to me. Landlord is always the same.Building depends on location and amount insured.I seem to average between 800-1200 pa incl landlord for insured amounts 220k-350k.
     
  3. Sonamic

    Sonamic Well-Known Member

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    Location:
    Sunny QLD
    $900 is good. Did one of mine last week. $220,000 Building, $10,000 contents, and Landlord Insurance. $104 per month.
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
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    Location:
    Adelaide, SA
    Really variable depending on value and postcode of property.

    Most of mine for LL and Building combined with EBM have been between $700 and $1200
     
    Chilliblue likes this.
  5. Michael_X

    Michael_X Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
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    Location:
    Gold Coast/Sydney
    $900 is quite good. Same as the above, most of mine are around $900 to $1,200.

    Really depends on the location and type of house.

    EBM is good to go with. If you want maybe get a comparison with Terri Scheer.

    Cheers,
    Michael
     
  6. Chilliblue

    Chilliblue Well-Known Member

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    Always get quotes with several companies as insurance companies work on a fixed amount of risk in that area. Once they hit that quota, then their prices escalate.
     
    wylie likes this.
  7. tajid

    tajid Member

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    23rd Aug, 2015
    Posts:
    14
    Location:
    Sydney
    Thanks guys. Just realised I don't get notificiations when getting replies. Ok, edited my settings should start seeing notif now.

    I tried getting some other quotes but got we don't insure in that area line (not exactly the wording but that's how i understood it), is it common? The property is in Pimpama 4209.
     
  8. trinity168

    trinity168 Well-Known Member

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    20th Jun, 2015
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    Location:
    Sydney
    I got several quotes for our QLD prop, and best price I got was from Whitbread.
     
  9. chylld

    chylld Well-Known Member

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    25th Jun, 2015
    Posts:
    596
    Location:
    Sydney
    I'm currently paying EBM ~$30/mth for one IP and Westpac ~$15/mth for another. Both apartments so no building insurance.

    Not sure why the Westpac one is so cheap, are they known to be dodgy? I should probably get around to reading the PDS....
     
  10. Andrew H

    Andrew H Well-Known Member

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    4th Jul, 2015
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    Location:
    Cairns, QLD
    i have some properties with EBM as i found they were the cheapest - Except for Far north QLD proeprties where cyclones affect. I just moved those properties to Elders of all places who saved me $1500/yr and better cover on only two properties! yes LL and home and contents
     
  11. teddy1

    teddy1 Member

    Joined:
    7th Jul, 2015
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    Location:
    Melbourne
    Does EBM have flood cover?
    From what I found they don't, can someone please clarify?

    Cheers
     
    HUGH72 likes this.
  12. D.T.

    D.T. Adelaide Property Manager Business Member

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    Location:
    Adelaide, SA
    They don't cover flood.
    I've discussed it with state manager in person. He said they're looking into adding it as an add-on component for those who want/need it.
     
  13. larrylarry

    larrylarry Well-Known Member

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    Location:
    Sydney
    Yes no flood cover atm for EBM.
     
    teddy1 likes this.
  14. HUGH72

    HUGH72 Well-Known Member

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    Location:
    FNQ
    Its dependant on many factors including level of cover, location and age of property, whether it has a garage or carport, proximity to flood or bushfire zones or if its in a cyclone region, fittings and fixtures, level of security, trees in close proximity and excess etc etc.