Granny flat insurance

[ok180]

Seems I have been kicked to the curb by aami, apparently they dont insure investment properties that have a separately rented granny flat.

Who are you guys using in this situation?

 

[neK]

Terri Sheer insure my house and granny flat separately.

 

[devank]

NRMA does it separately for us too.
2 set of tenants & 2 set of dwellings = 2 set of insurances

 

[Coconutwheels]

NRMA does it separately for us too.
2 set of tenants & 2 set of dwellings = 2 set of insurances

I use CGU, same set up as devank.

 

[ok180]

So you have to pay 2x full insurance premiums?

Aami were insuring it up to now and it was only an addition to the policy for the house. About an extra $250 per year.

 

[neK]

yep, i think for me it $360 x2

 

[baby blue eyes]

Ken is that for building too? I use honan but my costs are around 1500 for both with building and they are separate policies

 

[ok180]

yep, i think for me it $360 x2

Sure? That must just be the landlord part, what about the building?

 

[neK]

Yea just landlord insurance.

Building insurance-wise its just a single policy. I was told I could insure them under the one policy as long as the value of the property covered both.

I didnt feel very confident with Terri Scheer on their building insurance part. I asked them about what happens in the event of under insurance and they didnt know what I meant.

 

[ok180]

So.... Who did you use for building insurance?

 

[brettc]

Seems I have been kicked to the curb by aami, apparently they dont insure investment properties that have a separately rented granny flat.

Who are you guys using in this situation?

With RentCover you can have one building policy to cover the defined risks, and 2 landlord policies to cover the two separate risks.

 

[MTR]

Brett
When I tried this with EBM they originally said they could cover the g/flat, I explained that it was not approved, they were fine. I decided to place it in writing via email, suddenly they changed their tune and declined to cover, not impressed.

I use GIO, 2 separate landlord insurance policies and they cover 2 buildings.

Cheers
MTR

 

[brettc]

Brett
When I tried this with EBM they originally said they could cover the g/flat, I explained that it was not approved, they were fine. I decided to place it in writing via email, suddenly they changed their tune and declined to cover, not impressed.
MTR

I have sent you my direct email address in a private message, could you please forward me the correspondence you are referring to as my undertsanding was (and am seeking clarification) that an unapproved granny flat is not an issue, so I would like to find out why this has occurred, or in fact if it is now an issue.

On the surface I am surprised so I woul dlike to double-check whether it is just an error, or whether there is more to it now.

Thanks.