澳洲Australia property Insurance guidelines | Sydney
在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo
I just bought a property for $300,000 in qld. I am looking at insurance (building/contents/landlord) and its asking how much do I want to insure it for.
Does anyone have a guideline? I assume land is a large portion of the value, so do I factor this into my thinking?
Say the valuation of the property itself is $130,000. Do I subtract this amount from the 300 K value of the property and then add a little more to factor in rise in costs, removal etc etc?
How much would you insure the property?
Some insurance websites assist with calculating the approximate value of a property if you don't have a figure yourself. (I am pretty sure RACQ is one website where you can).
Consider how much it would cost to rebuild. Not sure if this is a good approach, but you could look in the local paper to work out approximate building costs to rebuild a replacement house. You probably should also include additional costs for removal of the property if it is destroyed completely.
I recently had a property valued and the valuer had estimated the replacement cost of the building - very handy for this purpose.
Also, since you are in QLD get a quote from NRMA for landlord insurance. They seem to be very reasonably priced and I have used them to claim when my car was written off and they were very good. Must admit I have never made a claim on my landlord insurance though. I would be interested to hear from anyone that has.