VIC Getting new policy by EBM / Terri Scheer

Discussion in 'Property Management' started by FirstTimeLandlord, 27th Aug, 2020.

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  1. FirstTimeLandlord

    FirstTimeLandlord Member

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    Hey Guys

    Are there any distributors here for above companies to get a landlord insurance quote from them? I understand EBM / RentCover are still allowing distributors to give it.

    Or can you recommend any companies we can still directly go to and recommend for new policy? Any particular things in policy we should get / look for?
     
    FirstTimeLandlord, 27th Aug, 2020
    #1
  2. craigc

    craigc Well-Known Member

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    Latest I found was no new policies for Terri Scheer full stop, EBM & PIP are doing new policies but nobody is covering rental default on new policies, only available on renewals of existing policies.
    It will change at some point, when - who knows?
     
    craigc, 28th Aug, 2020
    #2
  3. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    I'm a distributor for EBM in NSW and they have a RentCover Prime policy available (without rent default cover), however I know TS won't allow a distributor to purchase insurance unless they are actually the property manager, so I think EBM may be the same.
     
    Mel Morgan, 28th Aug, 2020
    #3
  4. FirstTimeLandlord

    FirstTimeLandlord Member

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    oh ok.. so basically no TS, EBM then perhaps as my PM is not a distributor.. any recommendations from the general available insurances? And anything to look / look out for ?
     
    FirstTimeLandlord, 28th Aug, 2020
    #4
  5. Hosko

    Hosko Well-Known Member

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    Make sure you have some! There's currently limited bells and whistles available with any landlord insurance.
     
    Hosko, 28th Aug, 2020
    #5
  6. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Do you currently have any policies with EBM? I was able to go to them directly a few weeks ago and get rental default HOWEVER they had to assess it and there may have been a few things which swayed it my way - multiple policies, no claims, being in Perth etc
     
    Westminster, 28th Aug, 2020
    #6
  7. FirstTimeLandlord

    FirstTimeLandlord Member

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    Yeah ofcourse :)

    No unfortunately ...
     
    FirstTimeLandlord, 29th Aug, 2020
    #7
  8. Martin Fliedner

    Martin Fliedner Member

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    Have you tried CoverWise?

    Also i noticed a few questions above about Rent Default, this is a tricky one some companies offer loss of rent but not rent default.

    Be careful when going through the PDS.

    Also look at excess as some may charge upwards of 1k when some only charge $200.

    I have mine with CoverWise and would recommend them.

    If you have any questions on Landlord Protection I have just done a Podcast on it for Investors it may help.
     
    Martin Fliedner, 2nd Sep, 2020
    #8
  9. FirstTimeLandlord

    FirstTimeLandlord Member

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    Had not heard of them. will check them out

    So for VIC its $205 / year as per their flyer? or am I reading that wrong?
     
    FirstTimeLandlord, 2nd Sep, 2020
    #9
  10. KateSydney

    KateSydney Well-Known Member

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    ShareCover now have a Landlord policy for long term tenants (they used to specialise in Airbnb types only)
    They offer Loss of Rent but not Rent Default
     
    KateSydney, 3rd Sep, 2020
    #10
  11. FirstTimeLandlord

    FirstTimeLandlord Member

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    Thanks will check them out too..
     
    FirstTimeLandlord, 5th Sep, 2020
    #11
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