EBM vs Terri Scheer

The other thing you are not taking into account is the bond. The way a claim is structured, as there is no excess on a loss of rent claim, is that you would first use your bond to cover things that are not claimable. If there is money remaining the balance can go towards the rent loss, the 6 weeks mentioned is over and above whatever you have covered through the bond. There are also a whole range of additional loss of rent features such as up to 52 weeks for "denial of access".

 

Yea thats pretty standard at the moment

 

Has anyone seen or done an item by item comparison of TS v EBM that they want to share?

 

thank you.

 

Yes, for bad tenant, they would not clean property after they vacate, their bond may not be enough to cover the clean fee , and some damage which is in the middle of accidental damage or malicious damage, may not be covered by landlord insurance as well...

 

three weeks is too long..

 

We would routinely wait up to three months for a hearing up here in QLD for an urgent application. Strangely... non-urgent applications seemed to be a little faster...

I've got one at the moment where the tenants vacated on the 20th of February and contested the bond, they haven't even scheduled the dispute reconciliation call yet and they only apply for tribunal once that's finished. God knows how long I'll be waiting for this one.

 

3 months wow. still at least if the property is vacant it can be relet? pain if tenants remain and pay no rent.

 

Hi - my name is Justin and I am the Distribution Manager for Terri Scheer Insurance. Terri Scheer do cover pet damage up to $2500 - as long as the pet is owned by the tenant, and you have collected a pet bond where permissible. Check out page 28 of our Landlord Preferred Policy PDS for full details on when and how this works for you.

We updated all of our products in December. Details can be found in Scheer Tips on our website, or in our PDS's for the relevant products.

If anyone ever has an issue they cant get resolved through the normal Terri Scheer channels, feel free to hit me up and I will assist where I can.

 

Do the pets still need to be listed as approved to cover the damage?

 

Please describe something that may be in the middle of accidental damage and malicious damage.
Thanks

 

I am not that professional to know that, maybe some PM in forum knows?

 

I have same question. A lot of tenants sneak in pets, can that be covered by TS?

 

As long as the pet is owned by the tenant the Terri Scheer policy provides cover, even if they sneak it in without your knowledge. This excludes reptiles. i.e. if your friend brought the dog to your house and damaged it - no cover.

On our new policy, there is also only one category of damage "tenant damage" - so no longer is there a grey area over accidental, deliberate, or malicious damage.

 

Its worth looking at SGUA.... many claim items are excess free and they not only have malicious damage and accidental damage, but also Deliberate damage.... something I have not seen on any other policiies

 

Sarah, Terri Scheer policies roll malicious, accidental, and deliberate damage into one category called "Tennant Damage" to keep it simple come claims time. We don't differentiate between the types you mentioned as it can be difficult to prove how the damage is caused.

 

Hi Justin
I'm considering taking Terri scheer building insurance for the period leading up to settlement (around June). The staff on the phone was initially a bit unsure whether Terri Scheer could do this but then said that you do. Could you confirm whether Terri Scheer can cover this period and if there is a claim (god forbid) it won't be problem that I'm not the legal owner yet ?

 

Hi Tattoo, our policy would respond if you have an insurable interest in the address, and if you have signed a contract for settlement, this would be considered as such. We would check that there was no co-insurance currently held by the present owner. If there is we would usually consider part payment by both policies as the first outcome to be pursued.

 

With the 60days free that EBM offer.. its much more tempting than Terri Scheer's policy though

 

Received qoutes for an IP from EBM and Terri Scheer.
EBM (platinum) qouted about $1,332.
Terri Scheer (with excess of $500, building and landlord) was $1,150

I'm going to compare the policies, but any ideas why such a price difference? If they are both much much the same, its no brainer to go with the cheaper one.