QLD Property insurance

Discussion in 'Property Management' started by Realist35, 28th Mar, 2020.

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  1. Realist35

    Realist35 Well-Known Member

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    Morning PC ladies and gents :)

    Building and landlord insurance for our Brisbane property expired a couple of months ago. I've called Terry Scheer yesterday and was able to renew only the building, but not the landlord insurance.

    Would anyone advise which insurers still offer landlord policies?

    Further, would anyone know what happens if tenants default and can't pay anymore? Are there any new government policies (in light of new coronavirus emergency) in place that would cover for those situations?

    Thanks a lot :)
     
  2. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    I've only heard of Terri Scheer stopping coverage, EBM are still proceeding for now. They offer a pretty competitive free 60 days in the first year - check with your PM (or send me a msg).

    I believe currently there's been nothing officially legislated by the government, but they keep saying 'any day now', the likely one is that lease terminations won't be allowed for 6 months, but not sure what they will offer for those that are stuck with non-paying tenants.
     
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  3. Realist35

    Realist35 Well-Known Member

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    I've just managed to speak with an insurance broker. He advised that as of yesterday no insurance companies offer LL insurance. I hope the gov jumps in soon and offers assistance.
     
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  4. Player

    Player Well-Known Member

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    Not unreasonable to have an embargo right now on the landlords component to an investment property insurance policy. High risk for the insurer.
     
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  5. Tom Rivera

    Tom Rivera Property Manager Business Member

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    The last correspondence I had from EBM suggests that they are still allowing their existing distributors to take out Landlords Insurance policies, but wont accept new business from general public.
     
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