Proper Landlord Building Insurance

Hi Folks

I am after a decent landlords insurance company. Basically I have discovered that most insurance companies have policies that dont cover much.

If a water pipe bursts and leaks in the walls or under the floors due to the fact that the cheapest and nastiest builders and developers thrive in this country and are effectively building garbage houses, causing problems. I mean who puts a copper pipe into limestone cements and sands? It corrodes like hell. Anyway my landlords insurance with Honans does not cover this. Which insurer covers everything? I just want a high premium insurer that i dont have trouble with in the future.

 

I don't know if they cover "everything" or of their premiums are "high", but I recently msde a claim for a burst water pipe inside walls and my CGU insurance paid out for everything.

 

EBM and Terri Scheer have both landlord cover and building options. EBM are very popular with alot of investors and are easy to deal with.

 

Hi, just wanted to know within a unit if there is a leak behind the tile in the shower pipes , whose insurance covers . The building ? Strata tell me that the building insurance doesn't cover this . In my stand alone building I had the same problem and I had to repair the pipes only . The rest of the work( removal and replacement of tile etc ) was covered by the building insurance . Any information ? Thx

 

I’d second this as they are both specialise in landlord insurance

 

Building insurance doesn't cover it but strata should. You are responsible for everything inside the gyprock. We had a leaky shower. Pipes were damaged in the wall. Strata paid.

 

Good guide on NSW here

Strata Plumbing: Who Is Responsible? - Jamesons | Strata Managers Sydney

Depends what the plumbing services. If its a boundary wall then strata fix. If its an internal unit wall its your problem BUT if the same pipe cover multiple apartments its strata to fix.

Its likely YOU are responsible and an insurer may only cover subsequent damage to rectify the defect NOT the defect itself. eg wall, tiling etc but not the plumbing

 

That's a Building Insurance issue, not Landlords insurance? I think there's some information missing on the context.

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To answer the question you've asked- there's a number of specialist Landlords Insurers around with 'similar' policies that are far more comprehensive than the usual crap you get from bigger insurers (banks, etc). There are of course differences between each of the policies, and I really can't go into specifics (because I'm not licensed to give insurance advice), but they all seem to be constructed in the same basic format.

I'd take a look at EBM, Terri Scheer, Property Insurance Plus, SGUA and... Honan.