Got renewal for landlord insurance with EBM and the price has been increased by 15%.
Considering many companies are not offering any new insurance, is there a way to get better pricing or no negotiation power during current times?
Better Pricing on Landlord Insurance Policy?
Ash-Say on 03/07/2020 - 11:59
Last edited 03/07/2020 - 12:49 by 1 other user
Last edited 03/07/2020 - 12:49 by 1 other user
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Hi,
I noticed this on the EBM site https://www.rentcover.com.au/covid19-update
and this on the TSI site… https://www.terrischeer.com.au/
Please note, there is currently an embargo on all new Landlord Policies. This means we are unable to issue any new policies until further notice.So, don't let the cover lapse while you shop around and check very carefully the Terms and Conditions of Cover should you change.
This.
I'm keeping my LL policy from Allianz for this very reason.
I was in the process of making a claim with them (non payment of rent) but fortunately the tenants decided to pay up!
Yep. I got the same issue. The Landlords was raised by 200 for the year compared to last year.
I tried to go to other landlords insurance to compare and beat the price but all I found was that theyre not taking any new clients on atm.To be honest, if they jack it up to 100%, we'll just have to suck it up in this environment.
I've tried many times and they typically won't negotiate with lowering fees. I'm with EBM for some of my properties.
What I have done in the past though is get a new online quote for the exact same property details.
Even when I asked them to price match their own quote, they won't but did say I could re-sign under the new quote and end my current one.
I now do this every anniversary for my insurances.
Edit: The above is pre-covid situation though
Looks like QBE are still doing combined landlord/house insurance.
Never accept a renewal from your insurance provider. I’m with CGU for my rental property, and they sent me a renewal. Called up, reduced by $10 per month. Called up again, reduced by a further $15 per month