Landlord insurance - new policies and renewals

Terri Scheer sent renewals - for building insurance its up 4.1% and landloard insurance 5%

Does that seem high to anyone else ?

 

I had a 16% increase overall but I did also make a huge claim so not really unexpected.

 

just got my renewal

$805 increase to $960
20% increase
Never done a claim on this property but I made a claim on another one same insurer different policy

 

Does anyone have an update on tenant rent default cover provided for new policies (not renewals)?

I had an insurance broker email me this late last week:
<An insurer that is again offering a landlords policy contract which covers Rent Default by tenants is Vero Insurance a Suncorp company.> PDS attached

If I'm not mistaken, Terri Scheer is also underwritten by Vero Insurance a Suncorp company. Does this mean they are back to offering cover for Rent Default again, I wonder?

 

EBM and Terri Scheer are offering rent default policies in NSW. Unsure of other states

 

As someone else pointed out in another post I read, TS policy now contains an exclusion for communicable disease. Unsure whether EBM has similar exclusion.

Using TS' new wording as an example, if tenant says they can't pay rent due to losing job due to COVID restrictions, does that mean the rent default claim is not covered?
However if tenant says he just can't pay (unrelated to COVID), then rent default is covered?

 

Im unsure, probably a question for the companies themselves however in the claims I've processed recently for EBM there is no specific question as to whether the tenant was covid effected or not.

 

Thanks Hayley

I was a multi-policy EBM policy holder for many many years and never lodged a claim. In recent years I transferred them all to a different provider which has since existed the market. Such a nuisance. Wish I stayed put. Wonder if they will consider taking us back.

 

Im sure they would!