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Insuring a duplex - Landlords and building - One title

Discussion in 'Real Estate' started by katz, 29th Oct, 2008.

  1. katz

    katz New Member

    Joined:
    20th Sep, 2007
    Posts:
    4
    Location:
    Brisbane
    I have duplex that is being built that I intend to rent out as an IP.

    As such I want to take out both building and landlords insurance.

    Both building are currently on the one title

    I have just spoken to AAMI who tells me that they won't insure multiple dwelling such as a duplex on the one title !!

    Does anyone know of anyone who will do this type of insurance ? If so do you have any recommendations of who is good to go with ?
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,619
    Location:
    Sydney, Australia
    Try CGU.

    I have a pair of 5BR townhouses (separate titles, but share a common firewall), each of which are set up as a 3BR + 2BR unit. I have building and landlords insurance on both - and I was sure to have it noted in the policy how the property was set up when the insurance was arranged.

    I did use an insurance broker to arrange it all - not sure if you can get insurance directly through CGU ?
     
  3. Sacko

    Sacko Well-Known Member

    Joined:
    20th Aug, 2007
    Posts:
    69
    Location:
    Central Coast, NSW
    From my experience with getting quotes from AAMI they appear to have very strict underwriting guidelines, which enables them to be very compititive on price but not on terms. The up shot of this is if you have a standard risk you get a good rate if not you look else where...
     
  4. rambada

    rambada Well-Known Member

    Joined:
    5th Sep, 2005
    Posts:
    58
    CGU definately do it as they have done mine. Also AON (who is underwritten by CGU anyway)