which companies do both building and landlords insurance and what have been your experiences with th

which companies do both building and landlords insurance and

what have been your experiences with them for price or claims please.

any other relevant details or advantages of some over others would be appreciated.

thank you.

 

I am looking for the same information. My PPOR is with CommInsure (building + contents). Pretty happy with them. Also, heard good things about AAMI and RAC.

Now that I converted it to an IP. I am looking for landlord specific insurance. Heard about EBM RentCover - seems to be popular with investors - http://www.rentcover.com.au/

 

EBM have both LL and Building with.

They're generally very competitive on price. Allow claims under $25K basically straight away. Have a longer period (52 weeks) of cover than most insurers.

 

I've read that EBM excludes "flood" cover. Is it better to get building insurance from someone else and just get LL from EBM?

 

I just signed up with EBM with the kind assistance of @brettc I haven't made any claim but heard the claim process is good based on others feedback. No it doesn't cover flood but I'm happy to go with it for my Newcastle property. Someone also suggested that both LL and building should be of the same insurer. Do a search on landlord insurance and you will see the thread.

 

Can recommend EBM. @brettc
They run a discount too for Somersoft.

 

@justine77 here's the link

 

After more research, I figured not having flood (from water bodies) cover is a reasonable trade-off for a property inland-Perth. So, I signed up with EBM for building + LL.

@brettc - I've read posts from 2 years back that said EBM is working on including flood cover. Is that still the case or has it been dropped completely?

 

I spoke to SA State Manager in person over a coffee a couple of weeks ago. He said they were looking at ways to add it in as an optional extra so that those who don't need/want it don't pay for it.

 

Just got the invoice from EBM and a nice discount for mentioning PropertyChat.

I thought EBM insures property through QBE but the Invoice says "various insurers". Ah, well I am happy with the policy.

 

Thank you for the info so far. I thought with tenants flood insurance covering floors or carpets is important as flooding does happen.. washing machines leak or flood etc.

 

You're covered.

 

That's a different thing altogether. If you read the policy or PDS it defines what flood is.

 

As DT said, they are two different things.
This is from one of the documents I got in email. If you are in a flood prone area then you to find some other insurer that covers actual floods.

New Definition of “flood”

In all instances in the PDS where the meaning of flood appears, the definition, “the inundation of normally dry land by water from any watercourse, lake, canal, dam or reservoir” is deleted and
replaced with the following definition for flood;

“Flood” means the covering of normally dry land by water that has escaped or been released from the normal confines of any of the following:
(a) a lake (whether or not it has been altered or modified);
(b) a river (whether or not it has been altered or modified);
(c) a creek (whether or not it has been altered or modified);
(d) another natural watercourse (whether or not it has been altered or modified);
(e) a reservoir;
(f) a canal;
(g) a dam.

 

The word is early in the new year, seems like it's finally sorted.

 

Hi @brettc will all EBM insured be notified of this?

 

Haven't discussed the plan yet, there will certainly be advice but I am unsure whether that is immediate or on renewal.

 

Ouch, so no cover for sea level rise or king tide inundation (ie. salt water) in association with river flooding (fresh water).
Won't be my insurer then!

 

Hi Justine,

After dealing with almost every Landlord Insurance over the past ten years I have a lot of experience with who pays out and who doesn't. AAMI will not cover the first the first month rent which is crazy as this is the time you need it most, & they also only cover a few weeks loss of rent which is not enough if your tenant absconds. Terrie Scheer are probably the leaders in the industry however they also only cover a small amount of weeks rent, I believe its 6 weeks rent cover, again this is not usually enough. Alot of companies also have an excess and large annual fee. PIP are great they cover up to 14 weeks, only $297 per annum and No excess. Very important if you are highly geared.

Hope that's helped.
Cheers
Chez

 

If your property is flood prone then have to look elsewhere unfortunately. You can still get RentCover which by itself seems quite good.

For large scale flooding I doubt there would be much confusion about who pays (building insurer or contents insurer) but other things may get a bit tricky.