Would you buy an IP now if you couldn't get landlord insurance?

Go with St George for insurance... now. But who knows for how much longer they'll be taking new policy coverages.
I looked up my insurances and thought I didn't have one of my properties covered (I thought it may have slipped through the cracks due to an old mailing address), so I put one through with St George as per another thread, just to be on the safe side. It was pretty easy, done online.

In the meantime, it turns out I do have existing insurance in place for that property (it was a 20 minute wait on hold on the line with Terri Scheer to confirm). Lady from Terri Scheer on the other end of the phone was very nice to deal with. I'm sure they are having a tough time though with lots of calls right now, worried people.

 

Yeah I’d still buy it but without LL insurance being available I’d probably only put in a tenant on Centrelink benefits. That employer is pretty solid. I’d still be careful to get reference checks done to avoid malicious damage by tenant risks.

 

How helpful are reference checks? I would only rely on insurance against malicious damages.

 

TS has taken their product off the table.
EBM has announced this morning their product off the table, except if acquired through a property manager who has an existing relationship with them.
PIP is still going i think.

None of the others are worth the paper they're printed on anyway.

 

Are they renewing landlord insurance for those who already have policies?

 

This is the first time that I've got landlord insurance. I got 10 policies with TS yesterday. I really hope it's a wasted $3500 or so!

 

I'd probably only buy well tenanted commercial IP with good lease structure and including
tenant paid rent default insurance policy. And giving me a tangible, albeit small, return from day 1.

 

Yes they are.

 

That alone wouldn't stop me buying an investment property. But it might make me even more extreme and selective in my tenant selection processes.

But I have never actually had to make a claim on landlords insurance yet, touch wood.

 

Who'd you go with? Who'd you find was competitive?

 

Can you get public liability without landlord insurance?

I had a tenant (I’m assuming drunk) walk through a glass door and hurt himself badly. Wanted me to cover all his medical expenses. I put it to LL insurance which I was very glad I had! I don’t think anything came of it because I didn’t have to pay any excess.

 

I just took a building insurance, atleast i'm protected against storm etc.

 

Terri Scheer.
Slightly more expensive than EBM, but given that I was a day too late to get policies with them, it was probably my best choice.