Howdy Folks
I am looking at changing insurers for my investment property in Townsville. I have been using Terri Scheer for both landlords and building insurance. Can anyone help with suggestions of who else to approach?Many thanks
NRMA seems quite competitive… I hate AAMI (too expensive)
I heard from forumites Allianz and GIO are OK
Why do u want to opt out from Terri Scheer?
Am making a clean start with this IP. New property managers, new insurers and hopefully some better tenants. My new property manager said they recommend Terrri Scheer for Landlord insurance but not building insurance as they are not price competitive. Also I need to change the structure that owns the policy.
Cheers
I am with GOM i use NRMA on a fair amount of my properties.
Richard Taylor | Australia's leading private lender
GOM??
Oh sorry. GOM = God of money. I thought for a moment this was some special insurance group I had never heard of
Cheers
DO NOT go with CGU insurance!!
I am just trying make my first ever landlords claim with them for a property in Townsville and it is ridiculous.
Tenant vacated the property leaving $10k worth of damage /issues (filthy dirty – $1,000 cleaning fee, rubbish removal, broken fan blades, broken glass shower screen, 2 holes in the plasterboard, gutter pulled off, roof tiles damaged from kids walking on roof, holes in lino, security doors x 2 completely cracked thru, back door split, tenant took keys so had to replace locks, letterbox broken off stand, wheelie bin taken, full repaint needed inside as every wall is damaged, plus they owe $2,000 in rent).
I have just been advised that the ONLY thing from my claim they will cover is the broken shower screen!!! That's it! Nothing else!
My "Accidental Damage" policy with them is very specific and covers none of the above. They will cover the shower screen under a specific glass policy section…but nothing else.
The tenants broke the door stoppers (which were all new when tenancy commenced) and that was why the door knobs went thru the walls – so insurance says that is lack of maintenence! Floor coverings are specifically excluded (can't find anywhere in my policy documents where it says this!!); the bent fan blade is not "Malicious Damage" and is not covererd under accidental damage – same with the cracked doors, chipped bathtub,
They do not cover any cleaning or rubbish removal (I need to get a car removed from the back yard, and a broken trampoline, a pallet of bricks and a heap of broken furniture) as that is a "reletting fee".
And about the RENT – guess what – at CGU insurance – loss of rent covers basically nothing – it does not cover rent default, that is a specific extra (if I had known that when I took out the policy I would have got rent default but they didn't tell me), doesn't cover the property being unable to be tenanted for the 4 weeks that they have been messing me around "assessing" the damage.
AVOID AVOID AVOID
Anyone had an insurance company that did actually pay a claim? I need to change!
I use NRMA for all my insurance- they have been fair to me…..
soloinvestor wrote:DO NOT go with CGU insurance!!I am just trying make my first ever landlords claim with them for a property in Townsville and it is ridiculous.
Tenant vacated the property leaving $10k worth of damage /issues (filthy dirty – $1,000 cleaning fee, rubbish removal, broken fan blades, broken glass shower screen, 2 holes in the plasterboard, gutter pulled off, roof tiles damaged from kids walking on roof, holes in lino, security doors x 2 completely cracked thru, back door split, tenant took keys so had to replace locks, letterbox broken off stand, wheelie bin taken, full repaint needed inside as every wall is damaged, plus they owe $2,000 in rent).
I have just been advised that the ONLY thing from my claim they will cover is the broken shower screen!!! That's it! Nothing else!
My "Accidental Damage" policy with them is very specific and covers none of the above. They will cover the shower screen under a specific glass policy section…but nothing else.
The tenants broke the door stoppers (which were all new when tenancy commenced) and that was why the door knobs went thru the walls – so insurance says that is lack of maintenence! Floor coverings are specifically excluded (can't find anywhere in my policy documents where it says this!!); the bent fan blade is not "Malicious Damage" and is not covererd under accidental damage – same with the cracked doors, chipped bathtub,
They do not cover any cleaning or rubbish removal (I need to get a car removed from the back yard, and a broken trampoline, a pallet of bricks and a heap of broken furniture) as that is a "reletting fee".
And about the RENT – guess what – at CGU insurance – loss of rent covers basically nothing – it does not cover rent default, that is a specific extra (if I had known that when I took out the policy I would have got rent default but they didn't tell me), doesn't cover the property being unable to be tenanted for the 4 weeks that they have been messing me around "assessing" the damage.
AVOID AVOID AVOID
Anyone had an insurance company that did actually pay a claim? I need to change!
NRMA seems to be really good . I have been looking in Townsville for a while , what suburb do you have your Ip?
You must be logged in to reply to this topic. If you don't have an account, you can register here.
