Browse Forums General Discussion Re: Public Liability Insurance 6Sep 13, 2010 11:53 am batman Our contents insurance (suncorp) also covered our vacent block for public liability untill we started building, so you may already have it. cheers batman Sorry batman, am not clear about this. Is this a special deal you had with SunCorp ? other than that I cant se how a content's isurance will ocver a vacant blcok of land as therte is no house/contents on it in the first place. Cheers- Suburbia is where the developer bulldozes out the trees, then names the streets after them. Re: Public Liability Insurance 7Sep 13, 2010 5:59 pm I bought a 600m2 residential vacant land in inner Melb in June 2010, with the intent to build in a few months. The land has partial fencing only, so anyone can just walk in and take a shortcut thru an adjacent park. I paid $500 for a 12 month public liability insurance on it, which would cover me for $20M. If a vandal trespasses, burns the grass and the fire spreads thru the adjoining houses, then I'm covered. If a passersby takes a shortcut thru my property and a branch from my tree accidentally hits the passersby and subsequently sues me, then I'm covered. If a trespasser takes a shortcut thru my property and accidentally trips over and sues me, then I'm covered. People will sue you for anything these days. It's probably not compulsory (in Victoria) to take out a public liability insurance, but I got it for peace of mind, even if the probability of being sued is less than 1%. Re: Public Liability Insurance 8Sep 13, 2010 6:43 pm While I doubt its compulsory, its a good idea to have public liability insurance. I've just taken it out on my block, even though it won't settle for another month or so. There are too many litigation happy people around. H's Emperor Q1 on acreage Site cut 16/6/11 Slab 2/8 Frame 29/8 Tiles 9/9 Bricks 13/10 Plaster 2/11 Fittings 28/11 PCI 19/3 Re: Public Liability Insurance 9Sep 13, 2010 10:56 pm I doubt it is compulsory but I would recommend it for piece of mind, to cover all the events listed already by zeitgeber. Rary Girl - I am surprised your solicitor didn't recommend it!! I am an insurance broker and have never seen a claim on a client's vacant land but for the sake of $500, it's not much when you think about how much you are spending overall on your house/land! PM me if you would like a quote Re: Public Liability Insurance 10Sep 14, 2010 12:10 pm xanthrope batman Our contents insurance (suncorp) also covered our vacent block for public liability untill we started building, so you may already have it. cheers batman Sorry batman, am not clear about this. Is this a special deal you had with SunCorp ? other than that I cant se how a content's isurance will ocver a vacant blcok of land as therte is no house/contents on it in the first place. Cheers- Not a special deal. As part of the contents cover they give you legal liability up to 20 Mil. From their pds (http://www.suncorp.com.au/sites/default ... urance.pdf page 39) 17b. Legal liability when you have contents cover When you have contents cover under this policy We cover your legal liability to pay compensation for an incident causing death or bodily injury to other people, or loss or damage to their property which happens anywhere in Australia or New Zealand. Additional cover for a vacant block of residential land When we cover your contents we will also cover your legal liability resulting from an incident which happens on a vacant block of land that: – you own and– is zoned for residential housing and – is no more than 20 acres or 8 hectares and– is where you intend to build your future home. The longest we will provide this cover is for 24 months from the time you became the owner of the land. It stops when you insure a home on the land or sell the land. hope this helps Re: Public Liability Insurance 11Sep 14, 2010 12:18 pm Thanks for that Batman ... well it seems that I have PL insurance for my land after all as that is part of my contents policy with Suncorp as well. Hopefully others have this in their policies as well ... saves some $$. nat_bris ... as a insurance broker, is this a standard or are suncorp offering an extra in their policy? ~ trying to build our dream home by the sea ~ Re: Public Liability Insurance 12Sep 14, 2010 8:42 pm RaryGirl Thanks for that Batman ... well it seems that I have PL insurance for my land after all as that is part of my contents policy with Suncorp as well. Hopefully others have this in their policies as well ... saves some $$. nat_bris ... as a insurance broker, is this a standard or are suncorp offering an extra in their policy? This is definitely an extra, in fact I have never heard of another company offering this before! Good work Suncorp! Will save many families forking out on another policy. Cupcake.girl This really depends on your local council. Each one has different definitions and ways to calculate contributions. This is called a contribution… 1 3587 Hi there, long-time lurker but first time posting. I've bought a house 2 and a bit years ago and last year we had some major water damage on a converted pergola area… 0 7936 |