Has anyone had any involvement with Allianz Landlord Insurance? Any thoughts on whether they are any good?
I have heard that Terri Scheer is by far the best but I would be keen to hear thoughts on others.
Cheers
K
Allianz have a very comprehensive policy, although there are cheaper. Our of 10 if 10 was the most expensive, Allianz would be a 3 – Terri Scheer would be a 9 or 10. They do have some extras, but in all fairness, you wonder how much of it you need. I may consider Allianz next time myself, but I will compare the features with my current stuff (use NRMA and AAMI at present)
Make sure you have building, contents included (ie blinds, carpet etc) and landlord policy all together.
Cheers.
Hi all
I am going to revamp this thread to ask about Terri Scheer LL insurance. As I am about to settle on an apartment and house (2 separate purchases) and reading many positive comments about TS insurance, I called TS who provided a competitive quote, however in talking further with them, they advised that loss of rent is only covered for 6 weeks.
This rang alarm bells for me as in 2010, a tenant had a dryer fire (always make sure they clean out the lint filter!
) and after 8 months of to-ing and fro-ing, the apartment was able to be re-let. After reading the TS PDS, if I was covered under their policy, I would have been eating bread and water for the 6 months that the loss of rent didn't cover! Those LLs who have Terri Scheer policies, have you made a claim that included loss of rent?? Am I reading the PDS incorrectly? 6 weeks seems very short, especially when dealing with insurance companies.My other question is that I have been reading when choosing an insurance policy for apartments, you should choose the company who insures the building (QBE in this case) so the company only has to argue whether the claim is paid for through the building or LL insurances, rather than 2 companies arguing between them who may pay……
Appreciate any comments here
Cheers,
ChrisA1
Persistence is 'to keep on keeping on, no matter how hard the going may be'
I am not a Terri Scheer insured person but 6 weeks is common for tenants absconding and not paying their rent.
There is often a separate section which provides more extensive coverage when the property is made inhabitable through damage such as a fire. I would have expected your fire would have been covered under this section rather than an absconding tenant.
Many thanks Derek
Possibly a longer look at the PDS and more detailed questions to Terri Scheer people.
I am wanting to confirm that others agree that 6 weeks is a little too short for expecting insurance companies to complete repairs (particularly if the property is made uninhabitable).
ChrisA1
Persistence is 'to keep on keeping on, no matter how hard the going may be'
I have gotten quotes from Terri Scheer a few times… they are really expensive.
I favour AAMI for normal properties (eg houses, individual units).
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I use onepath for units/apartments and real insurance for houses – no issues to report with either.
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 like EBM and YOUI, had claims with EBM go through a breeze so keep my rentals with them. All insurance companies are great until you have to do a claim, then you sort out which are good and which aren't pretty quick. If your not happy with how your claim was handled change.
Cheers
Sheree
) and after 8 months of to-ing and fro-ing, the apartment was able to be re-let. After reading the TS PDS, if I was covered under their policy, I would have been eating bread and water for the 6 months that the loss of rent didn't cover! Those LLs who have Terri Scheer policies, have you made a claim that included loss of rent?? Am I reading the PDS incorrectly? 6 weeks seems very short, especially when dealing with insurance companies.
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