building insurance 一定要买么 ？

cycwong21

I prefer AAMI.
You would better get building insurance and landlord insurance as well. Because you never know what tenants you get, they could burn down your house or damage the main structure of the house. If it did happen to you, then you could use insurance compensation to rebuild or repair the house. Also, sometimes tenants may not be able to pay out rental charges when they have financil dificulties, you may be able to get pay from landlord insurance. Or sometimes, the tenants may leave damages to your house, which is hardly covered by rental bond or no worthy to sue to VCAT, you can try to get compensation from landlord insurance. Anyway, it's tax deductable against your rental receipts.
I have heard a story long time ago, a student tenant always played gym upstair. One day, downstair ceiling was fallen down. The repairs eventually were paid out by building insurance.
From news I read long time ago, someone forgot to turn off iron, the house was caught by fire. The compensation was paid out by building insurance.
Also, I heard another story that one family purchased an old house. The old owner covered the downstair ceiling very well with new paint. After they moved in, the ceiling was collapsed because of bathroom leakage. Eventually, they got the compensation from building insurance to pay for restoration of ceiling & bathroom leakage repairments.

cycwong21

As per my knowledge, Landlord insurance was not the same as building insurance. Most of landlord insurance's compensation amount was less than $10k. You can't use this compensation to rebuild a house.

cycwong21

Everyone has a mouth under nose, don't be afraid of ringing up insurance company and asking for details of covers.

天行健

building insurance definite!
You don't have to buy the landlord insurance, coz if it is a rental property, surely it means you are ready for some wear and tear...the chances of your tenant trashing the place is minimal, and if you have a lease in place, the lost of rent issue is bullshit, coz the tenant will have to pay for the rent if they want to move out earlier until someone is willing to take up a new lease or the old lease.

patricb

原帖由 天行健 于 2012-2-23 16:19 发表
building insurance definite!
You don't have to buy the landlord insurance, coz if it is a rental property, surely it means you are ready for some wear and tear...the chances of your tenant trashing  ...
Landlord insurace not needed? Most of the case you might be right if you have good tenants. But I can give you an example:
The tenants accidentally left the stove unattended, and the kitchen was destroyed in fire. You make a claim to your building insurance company, guess what, might be declined as it's not covered in building insurance, but landlord insurance.:)

werwerhe

意思是说如果是出租房，就是building insurance和landlord insurance都要买？但是我怎么觉得landlord insurance里面包括了building的啊？

cycwong21

原帖由 天行健 于 2012-2-23 16:19 发表
building insurance definite!
You don't have to buy the landlord insurance, coz if it is a rental property, surely it means you are ready for some wear and tear...the chances of your tenant trashing  ...
If tenant suddenly lost job or go to bankruptcy, normally the VCAT would sympathy them. Then, the landlord may need to look for alternative way to get the compensation.

patricb

原帖由 werwerhe 于 2012-2-23 16:26 发表
意思是说如果是出租房，就是building insurance和landlord insurance都要买？但是我怎么觉得landlord insurance里面包括了building的啊？
Two different policy.

fengcoolzi

可以选那种combined landlord and building policy
一般业内人士推荐EBM和Terri Sheer的landlord insurance

billxin

原帖由 werwerhe 于 2012-2-23 16:26 发表
意思是说如果是出租房，就是building insurance和landlord insurance都要买？但是我怎么觉得landlord insurance里面包括了building的啊？
同问。。。
我感觉这个landlord insurance 里面包括了 building 的
请各位确认一下