Recomendations on landlord insurance?

Does it matter who you go with for landlord insurance?
If so, do you have any recommendations?

 

Yep - some are much easier to deal with when things go wrong. Personally - I'd stick with the larger guys. I used a smaller company once and stuggled trying to get a payout for an issue that was clearly covered in this policy.

Cheers

Jamie

 

Don't skim on these. My mate went with the bank's home insurance and what a nightmare to deal with

 

Ah thanks for the info @Jamie Moore and @jins13
Any recommendations?

 

EBM consistency gets praise for its specific policy terms and the grades of cover it offers. They have a short stay policy as well as most policies wont actually insure something that isnt a tenancy lease. Terri Sheer gets some reviews - Perhaps not quite as good but still specific to rentals. They get some comments about claim issues but its just opinion. I dont have their policy.
Some general insurers have LL policies but read what their terms are, excess and also broad definitions. Read the PDS and compare the details.
EBM policy definitions are very good.eg pet damage is a new feature with $65K cover. Read at rentcover.com.au

The EBM policy can even pay a tax adviser if your IP gets audited

 

I have claims in with both EBM and TS at the moment for my clients, maybe I'll do a thread with side by side comparison of the customer service and claim amount since this gets asked a fair bit.

 

Yes, it matters, you need to be comfortable with the cover offered *and that they will pay legit claims at claim time *

Lot of people here talk of discounts, cheap insurance etc & it seems they do not read the PDS or do not understand the limitations, or pay for what essentially is useless.

 

It would be good to hear from the PMs here on how they deal with insurers, important differences etc

While we like a good PM stoning or crucifixion every few days, some of us do want the PMs job to be as smooth as can be too

 

Does you guys and ladies know if EBM and Terri Scheer have cover specific to home and contents? I enquired into this and was told home insurance (not sure if it was EBM or Terri) was bought separately.

Obviously general advice only from your experiences.

My current home & landlord insurance policy with a big 4 (upsold as an addon during settlement) is quite costly - a lot more than the ~$350 that usually comes with EBM&TS.

Thanks in advance

 

Yes. There's ebm ultra or ebm platinum which is LL or LL & building, respectively

 

I got my insurance done through EBM yesterday, they currently have an offer with 6 weeks free. I saved around $150.

 

Currently going through a claim with EBM and I'm happy with how they're handling it

 

TS LL building and contents are separate policies but very competitive all the same. I haven't needed to claim however.

 

Ebm, Terri scheer, property insurance plus.
Use the specialist companies.

Never use the bank insurance or sgic, or aami or any of these other - home content companies. They have their own unique meanings for the words "landlords insurance" "lease" or "property" - seriously stay away.

 

Been with EBM for more than 10 years. Recently, they increased the annual premium on one of our properties in qld by almost 15% . We claimed once in vic (carport roof repair) and the next year the premium went up almost 45% !!!

 

If you would you like to private message me some details and I will look into it, FNQ has had some substantial increases unfortunately but other than that they have been quite moderate. The claim would not have affected the premium.

 

Agreed! Whether you like and go with EBM or TS, I would stay away from non-specialty policies. We have nothing but trouble with them as they seem to simply evade paying out rather than working with the investor to rectify problems. To the generics, it's just another product that they're trying to squeeze revenue from. To the specifics, they have to be a little more careful if they want their business to continue!

 

You may as well go with none at all if you're going to go with a policy that is unsuitable.

 

EBM or Terri Scheer - as it has been repeated before go with a company that specialises in LL insurance as you will find some cheaper policies but when you go to claim you will be left out of a pocket a lot more than the specialised insurance companies.

Always look over policies to see what you are and are not covered for. Seen so many owners miss out due to a poor decision for a cheaper policy.

 

I recently finalised a hail damage claim through CGU and was happy with how it was handled.