Just arrived this morning my investment property insurance renewal with a price increase of 29% on last years cost.
You can try to obtain an alternative quote but most insurers have similar price increases. also they are requiring the completion of online cost estimate for complete damage to the property. These estimates are skyrocketing due to builder price increases which means your estimated replacement cost also massively increases your premium.
This is a major cost and the real estate is recommending no increase in rent for the next 12 months???
