Total Replacement vs Amount Insured

Discussion in 'Property Management' started by darrelj, 25th Apr, 2024.

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  1. darrelj

    darrelj Well-Known Member

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    8th Mar, 2016
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    Location:
    Tasmania
    When looking at an online landlord (building) insurance policy, the questionnaire starts with the option of selecting “Total Replacement or the Option to indicates a “sum” insured. Can someone explain what is meant by either of them and what I should be choosing. I believe the premium paid has a big difference depending on what I select in this question.
     
    darrelj, 25th Apr, 2024
    #1
  2. SatayKing

    SatayKing Well-Known Member

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    Extended Sabatical
    This basically. With a standard cover check what the situation would be if you are underinsured or building costs increase (is any allowance made for this aspect in the policy.)

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    SatayKing, 25th Apr, 2024
    #2
  3. darrelj

    darrelj Well-Known Member

    Joined:
    8th Mar, 2016
    Posts:
    135
    Location:
    Tasmania
    Thank you. I have been with AAMI for past 12 years but I never knew this until you showed me. Thank you. Thinking of moving to Budget Direct
     
    darrelj, 25th Apr, 2024
    #3
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