We're moving into a duplex soon (one side for us, and the other is already owned and occupied) but I honestly can't work out the situation with the home insurance. Hoping someone with some experience can help. I plan to also ring around insurance companies today and try to piece it together but figure first hand knowledge is also useful
- Do we need any strata/body corporate type arrangement? Since we share a common wall
- I punched the details into Compare the Meerkat yesterday, and it asks for the replacement value of the home. That is already a bit of a difficult one but am I supposed to allow for 2x my property value, i.e replace their place too? Or 1.5x since we have common wall
- Anything i should be aware of that isn't obvious?
The place is 2014 build, so from what i could gather >2011 means it needs a specific $$$ value nominated for replacement value