Queensland insurance

Discussion in 'The Buying & Selling Process' started by Seal, 25th Sep, 2015.

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  1. Seal

    Seal Well-Known Member

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    10th Jul, 2015
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    NSW
    I've heard you have to get internal building insurance the day after signing a contract in Queensland. Is this correct?
    Also when do you get landlord insurance if it is occupied by the seller at the time of signing contract so you won't get tenants until after settlement?
     
    Seal, 25th Sep, 2015
    #1
  2. wylie

    wylie Moderator Staff Member

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    You need building insurance from the next business day after signing. I just buy landlord insurance.
     
    wylie, 25th Sep, 2015
    #2
  3. EN710

    EN710 Well-Known Member

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    Melburn
    To hijack, what do you put as insured value? and where do I find information on building age? o_O
     
    EN710, 25th Sep, 2015
    #3
  4. wylie

    wylie Moderator Staff Member

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    Both of these need careful consideration and then a good "guess". :p

    (Building age is usually fairly easy, but replacement cost is not easy.)
     
    wylie, 25th Sep, 2015
    #4
  5. Kael

    Kael Well-Known Member

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    Sydney, NSW
    Property Value is a website I use and sometimes it lists the year built of the property. Otherwise a good guess is decent :p
     
    Kael, 26th Sep, 2015
    #5
  6. EN710

    EN710 Well-Known Member

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    Mine came out as NA in Property Value :confused:
     
    EN710, 26th Sep, 2015
    #6
  7. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Hey @EN710,
    For insured value, I wasn't too sure either so what I did was use the 'replacement cost' figure that was outlined in my bank valuation when I was applying for a loan for my property.


    Cheers,

    Taku
     
    Taku Ekanayake, 26th Sep, 2015
    #7
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