WA Insurance for Investment Property

Hi All,

Seeking some advice for my first investment property in regards to insurance (property will be managed by a property manager).

I'm reading specialised companies like 'EBM' and 'Terri Scheer' might be the way to go over ones offered by the Big4 Banks, NRMA etc.?

Would like to hear thoughts on this and whether it is worth to reach out to an insurance broker?

Also for an unfurnished house, would it be recommended to get building and landlord insurance from the one provider? Any other insurances to look into for an older house (1970s build).

Thanks

 

Congrats on your first purchase!
How much coverage do you want/ need?
Have you had a depreciation schedule?
What condition is the house in?
I would suggest by all means go to a broker,
have an interview with a Property Manager as well.
Ask lots of questions!

 

Those are LANDLORD policies and can include building and landlord contents (think of floor coverings, kitchen, appliances, window coverings, hot water, air con etc) as well as the landlord specific cover. It is better at claims events to have a single policy to avoid issues with multiple assessors and overlap issues

 

Building and landlord together is the way to go. it will mean you only pay once excess at claim time.

 

Thanks!
House was built 1978 and so the condition is typical for a property built then. Building and Pest confirms no major structural defects.
Depreciation Schedule to be completed upon settlement. Would this be ideal?
Open to recommendations for a insurance broker.