In Australia, the first thing people often do when they buy a new house is to buy insurance. Because even in Australia, there have been natural disaster. Such as forest fires, floods Of course, yesterday's hailstones count as well! What, then, can be done to minimize the damage caused by disasters? And what kind of insurance is necessary to buy, and which insurance is bought according to the individual's will?
There are four more common types of house-related insurance in Australia: house insurance, house property insurance, public liability insurance and landlord insurance. House, which generally makes loans to banks, has mandatory house insurance, while house property insurance, landlords insurance and other voluntary purchases have different insurance schemes based on different insurance companies. The charges are not the same.
House Insurance Building Insurance
House insurance premium is mainly to protect the event of force majeure and cause damage to the house structure and purchase insurance. It mainly covers the parts related to the house structure, and house structural damage caused by non-owner factors can be covered by this insurance. Natural disaster, such as fire, flood disaster, wind disaster and so on, as well as the damage caused by traffic accident to house, can be paid through this insurance. So yesterday, Victoria's hailstorm fell under the category of natural disaster force majeure, and if your home house buys building insurance you can get insurance claims.
Different insurance companies have different insurance products and corresponding costs. Insurance premiums are paid annually. As a bank loan to the real estate, Bank mandatory purchase of house insurance. In most cases, the house insurance is $300 per year, and the house premium varies greatly depending on the structure and value of the real estate. For example, $350000 worth of brick-and-wood single-story villa houses, its annual house insurance at about $300 and 450.
In one case, a customer bought a piece of property with three house units, and house had to carry out repairs because of the age of the construction, at a time when the estimated maintenance cost was about A $ one hundred thousand per set. But before the reconstruction began, there was a fire and all burned down. Since the client had previously purchased construction insurance for the property, the insurance company paid A $ one hundred thousand for each house for a total of A $ three hundred thousand, so the fire did not cause any property damage. Instead, he made some more money from it. But the good luck is also due to the timely purchase of construction insurance.
It can be seen that the purchase of construction insurance is necessary, especially from home buyers to establish this awareness. If you want to further protect your own indoor property as a self-housing, it is recommended that you also purchase and house property insurance.
House property Insurance Home Content Insurance
House property insurance may be purchased at the sole discretion of the owner. Mainly according to the interior decoration and furnishings value calculation. The most basic house property insurance, if the amount of insurance is $35,000, the annual premium is about $300. If the home electrical damage, or house stolen, indoor property insurance will be able to protect your interests.
It is important to note that valuables, such as jewelry, can only be compensated if they are stated at the time of insurance. In fact, house property insurance is very easy for landlords and tenants, because the loss of benefits caused by non-tenants does not need to be borne by tenants. That is to say, rented rooms with insured real estate, can be more comfortable to live in. The general (Comprehensive) term commonly used in insurance contracts does not mean that all risks are borne. The simplest is the glass of doors and windows and the car in the garage is usually not covered by insurance.
Public liability insurance Public Liability Insurance
In the case of an investment house, in addition to construction insurance, the Public Liability Insurance, public liability insurance may be further purchased when the insured is engaged in production, business or other activities within the territory of the territory in which the insured is operated or owned, The economic liability of the insured shall be borne by the insured in accordance with the law, as a result of the accident causing personal injury and loss of property to others (third parties). For example, the tenant in the rented house accident after an accident to the prosecute landlord, if the landlord bought public liability insurance, then the landlord can rely on this insurance.
Landlord insurance, Landlord Insurance.
You can rely on this insurance if the tenant owes the rent, the tenant damages the property, the tenant breaks the contract, etc. Although these situations are rare in Australia's house rental process, if you want to protect yourself, you can still consider it.
For tenants, if house is subject to unusual changes by non-tenants, tenants are not liable at all. The loss of house due to abnormal changes will be borne by the insurance company.
During the house rental period, tenants' personal belongings, such as furniture, jewelry, clothing, etc., are usually not covered by the landlord's house insurance. But tenants can negotiate with the landlord for personal property insurance.
In addition to this, we should know about the non-settlement of claims by real estate insurance.
- Compensation for the loss of valuable jewellery is usually not covered by the house insurance, unless specifically stated in the contract. It is recommended that small supporting documents such as precious jewelry and securities be kept in the safe set up by the bank;
- The usual word "Comprehensive" in an insurance contract does not represent a risk-taking that covers everything. Most simply, the glass of doors and windows is not included, and the car in the garage is not covered by insurance;
- Certain risks, such as war, natural wear, and damage caused by intentional or improper use by insurers or family members, are not compensable. Therefore, remind you that you can go to the insurance company for these things that are not included in the house insurance coverage of the purchase of additional insurance, (single item insurance) so that it will be better protected;
- To prevent house theft, tenants can add an "anti-theft alarm" to the house, which reduces the likelihood of house theft. If house is stolen, the company that installs the "burglar alarm" will be responsible for paying you the appropriate compensation, but not all of the damages, which the company will only pay you. The compensation that you can get will be the project that you insure with the insurance company;
- If house itself is in the natural disaster-prone area, the insurance company may refuse to settle losses caused by, natural disaster, which depends largely on the terms of the insurance contract and the insurance company insured.
