Current premium has gone up nearly 50% with budget direct
Other quotes are even more expensive with the main guys
Any companies left that haven’t increased their premiums as much as mine ?
Competitive Landlords Insurance - Help Me Find a Bargain
Gotchas on 15/08/2022 - 14:37
Comments
EBM has a deal where you get the first 60 days free. That made them the best deal for me when I was looking a month ago.
Quote from both of those are way more expensive then budget
Mine is through NRMA with minimal increase when last renewed, but that was almost 12 months ago. I'm expecting my renewal in the next few weeks but an on-line quote shows little change compared to last year (less than 10% increase). Of course, YMMV (or should that be YKMV).
My nrma renewal actually went down last month. Was weird.
Terry Scheer is just good advertising, they are pretty much AAMI. They both don't pay you, if tenets start cooking meth or grow any plants.
Mine is with CBA and just renewed one in June, minimal increase like 2-3%.
I use SGUA Landlord Cover Value Plus for a 4x2 standalone house. Paid $318.02 last year with a renewal due next month.
I have a claim underway after a pipe burst and flooded a couple of rooms and need to replace carpet & vinyl. No red flags with the process so far.
how did claim process go with this
Also interested to hear the outcome!
We recently made a claim and it was disheartening to say the least. The tenants trashed the place but the insurer classified much of the damage as "tenant neglect" which they do not cover. They covered the items which were "malicious damage", but they tack on additional excess of 4 week's rent for it, and they didn't cover rental loss because they obviously set a very low bar when they say the property was "habitable".
Not saying they are all like this, but read your cover and PDS and know what you're in for. We were with one of the bigger companies thinking it would cover us, so I can't imagine what the cheaper insurers would be like.
who was insurer
Was with EBM, then they got expensive. Terri was never competitive I found. Currently with PID - I have no claims experience with them so I can't vouch yet, but their pricing is ok.
Properties are in sydney, melb, logan
A bit more on EBM - one of my tenants destroyed my place in logan (haha logan). My initial claim was 35k, they nickeled and dimed me down to 18k payout. Shits. But they paid.
Also a few other footnotes - budgetdirect pays easily. Youi is a PITA but eventually pays, need to appeal / complain etc. Coles insurance has begun offering landlord cover (i.e. tenant default, damage etc) so I'm on that now too for one of my Sydney ones. No claim expeirence with them yet.
Hope that helps!
EBM or Terry Scheer.