COvid-19 and landlord insurance

These insurances are a waste of money in times like this.

 

So the government has said that we cannot evict tenants for up to 6 months. So this landlord policy won't cover us if tenants decide to not pay rent for 6 months?

 

Only for a tiny 6 week period. Are there any companies out there who offer 3-6 months or more?

 

My insurer would only pay up to 6 weeks for tenant hardship.

 

Hi there, from an insurance point of view, you need to continue to follow all the correct procedures outlined in your state when it comes to issuing breach and termination notices. This is so when it comes to making a claim, we can see all necessary steps were taken to prevent further loss. In terms of how to submit a claim during times of pandemic, this is business as usual and you can use our online claims portal for a review of a claim. Thanks.

 

Hi Sharon, does this include lodging a xCAT application seeking termination order & warrant to evict even though Gov. has set moratorium on evictions and won't evict, or is simply issuing the standard breach notice then notice to leave and stopping there sufficient?

 

That is no good! You should definitely bring this up with them, going forward ensure they have better communication or change agents if you feel necessary

 

@Sharon Fox-Slater I currently have one policy with EBM and I had another property due for renewal and the person on the phone blatantly refused to take my details and offer me an insurance policy with your company! (She said it had to do with other companies not providing landlord insurance quotes). I even told her that I was an existing customer and she said that I could only apply for another policy by going through my pm (they had already closed for the day so I couldn't do that). Just a bit disappointed....


Anyway, onto a question that I have:
Lets say a tenant loses their job and can't pay the rent, or only part of it.
1. If they can pay part of the rent, can a claim be put in through EBM? or
2. If they cant pay any of the rent, can a claim be put through EBM?

Which one of these 2 scenarios will you be able to claim for a loss in rent?
(BTW, no one caught coranavirus in this example)

 

Hi there,

I am sorry to hear your experience with us what not what you expected. I would like to get one of our team leaders to give you a call to discuss the property that was up for renewal. Send me a private message with your contact details and I can arrange this.

With regard to your other points… if a tenant is unable to pay part or all of their rent due to financial disadvantages on the back of COVID-19, you may be able to claim for rent default under EBM RentCover policies. However, it all depends on a lot of circumstances, like whether the landlord and tenant came to a mutual agreement to reduce/postpone rent and what the state governments are doing to support landlords. Without more info, I can't say much more. If you have a claim, the best thing to do is submit it for review. We will take all personal circumstances into consideration.

Thanks.

 

Suncorp, upto 14 weeks/$5000 but check the full PDS