Insurance recommendations

[Scallywag1]

Hi,

Does anyone have either an insurance company or broker they would recommend?
I've got a few properties so it tends to add up, especially lately. I'm sure many would be going through a similar experience.
In fact the properties are only land value now so if I had my way I wouldn't insure at all but the agent tells me it's necessary. Any thoughts?

Thanks

[hawkeye]

I’d avoid iag if you can. Although they have bought up almost everyone else now so might be hard.

They were plain evil when dealing with my friends earthquake repairs . First the repair job was awful and she had to take them to court to make them pay to remedy it which took years of her life and $100s of k for experts and lawyers, then they settled out of court with non disclosure clause saying “this was straight forward, should have been settled quickly.” They try and shake off 90% of claims in a large event by making people run out of money then settle the last 10%.

it might be ok if it’s a one off like a fire.

[Perry]

It is possible that using a broker could be better than going direct, considering such problems as Hawkeye mentions.

Crombie Lockwood are O.K.

Another thing. It costs, but getting a valuer to produce an insurance certificate is likely worth the money. Some of my (special) rentals increased 282% in replacement price in 3 years!

Hard to appreciate and the resultant premium increases were significant.

I'm now paying $1k per month on the overall rental portfolio.

Ouch!

(Includes LL protection)