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Insurance

Discussion in 'Real Estate' started by Tropo, 7th Sep, 2006.

  1. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,394
    Location:
    NSW
    I have just received a letter from AAMI with a news regarding an upgrade to my landlord insurance policy.

    " From 30 Aug. 06 and at no additional cost to you we are insuring your landlord building for the total cost of rebuilding it, rather than the limit imposed by the fixed amount currently shown on your policy schedule or renewal notice.
    New Complete Replacement Cover guarantees your landlord building will never be underinsured. Your landlord building is now covered up to its total new rebuilding cost including all fees and related costs covered by your policy."

    My question is. Why they give me something for nothing? This does not happen too often these days! Is there a catch ?? :confused:
     
  2. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Ah, the old cynic in you, Tropo, expecting a catch :)

    Are demolition costs included as part of your insurance policy?
     
  3. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,394
    Location:
    NSW
    "Ah, the old cynic in you, Tropo, expecting a catch"

    Heheheheheheh - I would not say that I am a cynic (hmmmm maybe sometimes), but I am always ready for nasty surprises.
    I just do not believe in generosity of the big insurance company.
    And I do not believe in Santa Claus either...:rolleyes:

    "Are demolition costs included as part of your insurance policy?"

    Yes. Reasonable cost included.
    Thanks for pointing this one out !!!!! :D :D
    PS = " Reasonable " - what may it mean in practice ??:eek: :eek: