With Australia being prone to natural disasters, you’d think that most homeowners would be more proactive in building disaster resilience.

Unfortunately, according to a Climate Council report, the country is facing an ‘insurability’ crisis with one in 25 homes on track to be uninsurable by 2030. 83% of Australian properties are also underinsured. 

…And inflation and the rising costs of building and insurance aren’t making things any easier for property owners.

Marty Sadlier, director of MCG Quantity Surveyors, joins us today to talk about Australia’s underinsurance problem–what are the factors that are worsening the situation and what is your responsibility as a property owner?

If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au!

See you in the episode!



Episode Highlights:
Environmental factors that affect property insurance [02:09]
How much should you insure your property for? [11:13]
Ways you can be underinsured [15:01]
A solution to Australia’s widespread underinsurance issue [23:36]
Rising cost of building infrastructure [30:51]
Problems in the building industry [37:38]
Buyer’s borrowing capacity and responsible lending [41:16]
Australians’ short-term memory [44:10]
The real cost of mandatory inspections [45:52]
The responsibility of the property owner [53:57]
What are the things that people don’t realize are not covered by insurance? [56:56]
Marty’s Property Dumbo [01:00:22]



About our Guest:

Marty Sadlier has over 20 years experience in the building and construction industry, commencing his career as a shop fitter/carpenter. He is a RICS certified expert witness, a Certified Quantity Surveyor (CQS) and sits on the interviewing panel for Australian Institute of Quantity Surveyors (AIQS).



Links from the show:
Episode 164 | Australia’s underinsurance epidemic: 83% underinsured!?(https://www.theelephantintheroom.com.au/podcasts/164)



Connect with Us:
Looking for a Sydney Buyers Agent? www.gooddeeds.com.au
Work with Veronica: https://linktr.ee/veronicamorgan
Looking for a Mortgage Broker? www.wealthful.com.au
Work with Chris: hello@wealthful.com.au
Send in your questions to: questions@theelephantintheroom.com.au



Find this episode on our website:

https://www.theelephantintheroom.com.au/podcasts/251



If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!

With Australia being prone to natural disasters, you’d think that most homeowners would be more proactive in building disaster resilience.
Unfortunately, according to a Climate Council report, the country is facing an ‘insurability’ crisis with one in 25 homes on track to be uninsurable by 2030. 83% of Australian properties are also underinsured. 
…And inflation and the rising costs of building and insurance aren’t making things any easier for property owners.
Marty Sadlier, director of MCG Quantity Surveyors, joins us today to talk about Australia’s underinsurance problem–what are the factors that are worsening the situation and what is your responsibility as a property owner?
If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au!
See you in the episode!
 
Episode Highlights:
<ol>
<li aria-level="1">Environmental factors that affect property insurance [02:09]</li>
<li aria-level="1">How much should you insure your property for? [11:13]</li>
<li aria-level="1">Ways you can be underinsured [15:01]</li>
<li aria-level="1">A solution to Australia’s widespread underinsurance issue [23:36]</li>
<li aria-level="1">Rising cost of building infrastructure [30:51]</li>
<li aria-level="1">Problems in the building industry [37:38]</li>
<li aria-level="1">Buyer’s borrowing capacity and responsible lending [41:16]</li>
<li aria-level="1">Australians’ short-term memory [44:10]</li>
<li aria-level="1">The real cost of mandatory inspections [45:52]</li>
<li aria-level="1">The responsibility of the property owner [53:57]</li>
<li aria-level="1">What are the things that people don’t realize are not covered by insurance? [56:56]</li>
<li aria-level="1">Marty’s Property Dumbo [01:00:22]</li>
</ol>
 
About our Guest:
Marty Sadlier has over 20 years experience in the building and construction industry, commencing his career as a shop fitter/carpenter. He is a RICS certified expert witness, a Certified Quantity Surveyor (CQS) and sits on the interviewing panel for Australian Institute of Quantity Surveyors (AIQS).
 
Links from the show:
<ul>
<li aria-level="1">Episode 164 | Australia’s underinsurance epidemic: 83% underinsured!?(<a href="https://www.theelephantintheroom.com.au/podcasts/164">https://www.theelephantintheroom.com.au/podcasts/164</a>)</li>
</ul>
 
Connect with Us:
<ul>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="https://linktr.ee/veronicamorgan">https://linktr.ee/veronicamorgan</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="https://www.wealthful.com.au/">www.wealthful.com.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:hello@wealthful.com.au">hello@wealthful.com.au</a> </li>
<li aria-level="1">Send in your questions to: <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a> </li>
</ul>
 
Find this episode on our website:
<a href="https://www.theelephantintheroom.com.au/podcasts/251">https://www.theelephantintheroom.com.au/podcasts/251</a>
 
If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!

Who's really in control when you buy a property?

The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.  

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.

Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.

In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.

The plan? This property podcast has been created to help us all make better property decisions!

We talk about the things no one wants to talk about in the Property Market

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