Like Tree13Likes

Property insurance

Closed Thread
Page 2 of 3 FirstFirst 1 2 3 LastLast
  1. #11

    Join Date
    Dec 2009
    Posts
    6,714
    Quote Originally Posted by veganhk:
    I just can't find the insurance company to insure it.
    Surely you checked this detail before you purchased the building?

  2. #12

    Join Date
    Sep 2016
    Location
    Hong Kong
    Posts
    2

    Thanks Shri


  3. #13

    Join Date
    Feb 2005
    Location
    Manchester, UK
    Posts
    7,790
    Quote Originally Posted by chuckster007:
    land lease is 50 years, your building only has 4 years left then the govt will take it back
    My mistake, I thought it was 50 yrs then I remembered about the 99 yrs rule. anyways its was meant to be a joke, a shit joke at best LOL time to go home and brain wash myself on youtube.
    Coffeeblender likes this.

  4. #14

    Join Date
    Dec 2012
    Location
    Dubai
    Posts
    45

    Thanks guys ....I guess I could always throw a mortgage of the property and that would solve the problem.!...then invest funds elsewhere.


  5. #15

    Join Date
    Dec 2002
    Location
    θ–„ζ‰Άζž—
    Posts
    47,971

    By the way, have you asked the lawyer who did your conveyancing? They should have some practical experience with these issues? (Random thought..)

    Coffeeblender likes this.

  6. #16

    Join Date
    Aug 2008
    Posts
    706

    How about talking to someone like Frank Knight or JLL about it? They deal with buildings sales and management and must have dealt with this a lot of times before.


  7. #17

    Join Date
    Mar 2008
    Posts
    992

    I got insurance on a 40 year building via AXA. The excess for water damage was higher and they added a 25% old age loading, but it wasn't difficult to get the quote.

    shri and Kiz like this.

  8. #18

    Join Date
    Dec 2002
    Location
    Hong Kong
    Posts
    5,044

    I was looking at home contents insurance on a flat that is approaching 40 years. hong leong insurance quoted me $10,000 excess or 10% of loss (which ever is greater) for water damage/


  9. #19

    Join Date
    Dec 2012
    Location
    Dubai
    Posts
    45

    I already tried AXA and they said it is too old for them to cover. I think the insurance laws change frequently.
    Most of the big companies only insure newer buildings. Im onto a broker now as apparently a lot of the insurance companies don't sell direct now..you have to go through a broker. Maybe they are streamlining their business models and out sourcing to say costs etc.


  10. #20

    Join Date
    Dec 2012
    Location
    Dubai
    Posts
    45

    I have spent days on the phone/internet from Australia sorting all this out and it is really unbelievable for such a simple request to insure a flat that is 40yrs old. Hopefully a broker will sort it out soon.! Good thing is that it is always rented to tenants..thats the plus.!!!