This far after the quakes, insurers seem (understandably) nervous about taking on new policies on TC3 land.
I have heard people mention offshore companies such as Lloyds to insure these sorts of properties, any other recommendations?
Also, if anyone has some rough ballpark estimates of the markup these sorts of organisations typically charge that would be extremely helpful (+50%, +75%, +200%?!)
Backround: I have recently inherited an as-is where-is in Richmond, Christchurch. I have contacts and quotes to perform the needed repairs but before we begin I would like to have at least SOME idea of the insurance situation. Every company I have talked to either won't offer new policies or won't give me any sort of indication as to cost until after repair work has been completed and signed off. I am totally new to the game, I have been trying to read up on PI but I haven't come across much in this area (I suppose the kinds of people who own as-is property already know all the ins and outs). It would also be good to find out if prospective buyers are likely to be put off by the insurance if it is a non-typical source.
I'm new to the forum so apologies if this is in the wrong place, admins feel free to move or remove as needed.
I have heard people mention offshore companies such as Lloyds to insure these sorts of properties, any other recommendations?
Also, if anyone has some rough ballpark estimates of the markup these sorts of organisations typically charge that would be extremely helpful (+50%, +75%, +200%?!)
Backround: I have recently inherited an as-is where-is in Richmond, Christchurch. I have contacts and quotes to perform the needed repairs but before we begin I would like to have at least SOME idea of the insurance situation. Every company I have talked to either won't offer new policies or won't give me any sort of indication as to cost until after repair work has been completed and signed off. I am totally new to the game, I have been trying to read up on PI but I haven't come across much in this area (I suppose the kinds of people who own as-is property already know all the ins and outs). It would also be good to find out if prospective buyers are likely to be put off by the insurance if it is a non-typical source.
I'm new to the forum so apologies if this is in the wrong place, admins feel free to move or remove as needed.
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