3-Unit Block, Albury Region

An existing client contacted us about insuring another property in their growing investment portfolio. They owned a 3-unit block in the Albury-Wodonga region of NSW - a 1995 brick veneer building with Colourbond roofing, each unit featuring two bedrooms and one bathroom.

The client already held policies with us for properties in Western Australia and regional NSW. Their motivation was straightforward: they wanted all their investment properties under one broker for easier management. Dealing with multiple insurers and renewal dates was becoming administratively painful.

Their bank required an $880,000 building replacement value and needed to be listed as an interested party on the policy. The existing coverage was coming up for renewal, and the client wanted to transition to us before that date.

Portfolio clients present a different kind of opportunity. Rather than treating each property in isolation, we can consider the relationship as a whole. This client had already demonstrated they were a quality risk - claims-free across multiple properties, professionally managed tenancies, and well-maintained buildings.

Here are some of the outcomes from the submissions we made:

• Hutch - Declined to provide a quote
• Hollard - Referred for further underwriting review
• CGU - Quoted and bound

The client also wanted premium funding set up for monthly payments - a common request for investors managing cash flow across multiple properties. We arranged this through QPR to align payment dates with their other policies.

Hutch declined outright without providing reasoning. Hollard referred the risk, which in practical terms meant extended timelines and no guarantee of terms. With the existing policy approaching expiry, we needed a solution that could be bound quickly.

The client also had a specific requirement: aligning the policy commencement date with their existing coverage renewal. This meant adjusting the start date to avoid any gap or overlap - a detail that matters when you're managing multiple properties and want clean administration.

Regional NSW properties can sometimes attract higher scrutiny from underwriters, particularly when located outside major metropolitan areas. The Albury-Wodonga region, while economically stable, sits outside the core appetite of some insurers who prefer Sydney or Melbourne metro risks.

CGU provided terms that met all requirements. The policy included the correct building sum insured, the bank listed as interested party, and comprehensive landlords cover including building, contents, and liability protection.

This case illustrates an often-overlooked benefit of working with a broker: portfolio management. Beyond just placing individual policies, we can structure an investor's entire insurance program for efficiency. Same renewal periods. Same payment schedules. One relationship to manage.

For property investors building a portfolio, the administrative simplicity alone can justify the broker relationship - and that's before considering the market access and advocacy that comes with it.