Has anybody used or heard much about them for IP cover?
I have had quotes, but use AAMI, NRMA (goes against my grain, but need my IAG shares to stop plummeting
) usually. Terri Sheer appear to have thorough cover, but the premiums for property, landlord, and contents have been double the cost of the comapnie I mentioned.
Compare the features and excess, and see what you think.A recent post regarding this company, which I think says all you need to know:
https://www.propertyinvesting.com/forums/property-investing/help-needed/4323223?highlight=scheer#comment-166183
It says in part: "I actually work in insurance and have gone with Terri Scheer for my landlords rather than the company I work for (and get huge discounts from)."
Regards, Tracey in Brisbane
As with all insurances, shop around. Some may need to spread their risks more than others and are able to offer better prices in some areas whereas they may have too much exposure in other areas and their premiums are reflective of this scenario.
Hi,
Thanks guys for the feedback thus far,
Its a unit so only needed contents and rent cover
I got quotes from AAMI and RACV and from a few brokers eg. emi? and terri scheer
The ones from the brokers were all around $255 and the ones from AAMI and such were a little higher $ apox 300
The brokers had contents for 45-50K plus about the sane rent loss povisions, just need to check the excess on contents as no excess on rent cliams.
So far the brokers insurance have been more favourite, but will go over each one before I decide, thanks again
Hi,
Thanks guys for the feedback thus far,
Its a unit so only needed contents and rent cover
I got quotes from AAMI and RACV and from a few brokers eg. emi? and terri scheer
The ones from the brokers were all around $255 and the ones from AAMI and such were a little higher $ apox 300
The brokers had contents for 45-50K plus about the sane rent loss povisions, just need to check the excess on contents as no excess on rent cliams.
So far the brokers insurance have been more favourite, but will go over each one before I decide, thanks again
Hi,
I ve just called to Terri Scheer insurance in regards to damage of our rental unit. I have been with Terri Scheer for 3 years and never had a reason to claim anything. Now the tenants crashed the unit and it's not rentable.
I called to insurance and they basically brushed me off, saying that they gave nothing to do with that, suggesting to call a building insurance of body corporate.
What they call contents insurance includes just carpets, curtains and furniture. In our case the vanities was damaged and kitchen cabinets and the paint on the walls and doors. They are saying – that's not contents.
I've talked to couple of people there including a senior claim consultant – with the same results.
I signed out with Terri Scheer on advice from our property manager who probably got a commission for that.
I regret about so much and it turned out that I not only though away my money but got uninsured
I do not recommend anyone to sign with them – they are just a sham
Interesting. I have never had any dramas with the odd claim here and there but that's been with loss of rent. Best you look at your policy booklet to see what "Contens"means.
Oscar
Just made two separate $5k claims with Youi for one IP – they paid out on one without too much hassle, the other claim was a bit of a pain but they eventually paid out.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I have also found that Terri Scheer quotes are astronomical compared to other insurers.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hi all,
I use Property Insurance Plus and am very happy with their cover. Plus I get to speak to a person each time I call as the agent gave me his work number and told me, if I have a question or a problem to call him directly. The agent I deal with is Stephen Blair.
Their contact details are as follows:
Property Insurance Plus
Phone: 1300 307 072
Hope that helps
.Mikal
virgininvestor wrote:Hi,Thanks guys for the feedback thus far,
Its a unit so only needed contents and rent cover
I got quotes from AAMI and RACV and from a few brokers eg. emi? and terri scheer
The ones from the brokers were all around $255 and the ones from AAMI and such were a little higher $ apox 300
The brokers had contents for 45-50K plus about the sane rent loss povisions, just need to check the excess on contents as no excess on rent cliams.
So far the brokers insurance have been more favourite, but will go over each one before I decide, thanks again
hi there,
I with AAMI as well for my unit (rent protection and contents). Haven't made claim yet, by my premium is less than $200. I see that you have contents of 45-50K ( is the IP you have is furnished or something)….I called AAMI before i joined and they clarified what they meant by contents….meants less contents cover for me…..cause renter is responsible for their contents….
I suggest first you find out exactly how much contents you are after…..
Cheers
S0805
Be careful with Property Insurance Plus – when I last spoke to them the flood coverage wasn't great.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
That would/should be a consideration with any insurance policy from any company. Both of my properties are not in flood zones so Property Insurance Plus suits me perfectly and is a much better price than most I looked at. Just another company for peeps to compare against if nothing else.
I have properties that were damaged by the cyclone that hit Rockhampton area in February of 2015. It is now 7 months later, and Terri Scheer is still delaying payment. They have been rude, arrogant and do not reply to phone or email in reasonable times. The claims person is always not available. One trick was to call me after 5pm. I missed the call, but called back immediately on three occasions and got the Suncorp after hours message. Then not available the next day.
I have now entered into the FOS (ombudsman) system because I am so pissed off.
Their very first communication was to try and avoid being liable – they demanded 2 years of property inspection reports (which we had available), then took months to go the next step. The contractors in the Rockhampton area will now not even respond to requests for quotes if it is TSI.
They are fully owned by Suncorp – like many of the other insurance brands out there. I went with them because they were recommended by my property manager – who now says to AVOID Terri Scheer. Apparently even Suncorp is better.
If you have a problem with them use https://www.fos.org.au/ and maybe they will eventually improve. Don’t wait as long as I did.
They may be all right for chasing some lost rent (???) – but do not rely on them for property cover.
Just my opinion
I do think Terri Scheer gives commission to property management companies that push them, The reviews online about Terri Scheer are quite unappealing. But its known that people are quick to criticise and slow to compliment. However they are backed up by Suncorp.
End of the day any landlord insurance company will make it hard for us to make a claim. So we have to make sure we cover everything… these are businesses that wants to make profit…so dont expect empathy.
I am in the process of choosing between
Property Insurance Plus – They seem to specialise in Loss of rent.Aami Insurance – Because I am with Aami for my other insurance policies, and good customer service and they are accessible anytime.
RACV – Cheaper than Aami and usually has a good reputation.
Terri Scheer – Not too sure, after reading online horror stories, need to do more research.
Let me know if you have any recommendations? Thanks!
What about Tica Landlord Insurance cover – http://www.tica.com.au/insurance.php
I’ve had them for the past couple of years for 2 of my IPs but never had a reason to make a claim so far.Anyone else has had experience with Tica that you would like to share / make me & others aware?
) usually. Terri Sheer appear to have thorough cover, but the premiums for property, landlord, and contents have been double the cost of the comapnie I mentioned.
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