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Queensland insurance

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

  1. Seal

    Seal Well-Known Member

    Joined:
    10th Jul, 2015
    Posts:
    163
    Location:
    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?
     
  2. wylie

    wylie Moderator Staff Member

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    18th Jun, 2015
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    2,951
    Location:
    Brisbane
    You need building insurance from the next business day after signing. I just buy landlord insurance.
     
  3. EN710

    EN710 Well-Known Member

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    18th Jun, 2015
    Posts:
    2,147
    Location:
    NSW
    To hijack, what do you put as insured value? and where do I find information on building age? o_O
     
  4. wylie

    wylie Moderator Staff Member

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

    (Building age is usually fairly easy, but replacement cost is not easy.)
     
  5. Kael

    Kael Well-Known Member

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    18th Jun, 2015
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    277
    Location:
    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
     
  6. EN710

    EN710 Well-Known Member

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    18th Jun, 2015
    Posts:
    2,147
    Location:
    NSW
    Mine came out as NA in Property Value :confused:
     
  7. Taku Ekanayake

    Taku Ekanayake Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    765
    Location:
    Sydney, Australia
    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
     
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