landlord insurance - which companies are renewing/changing/still offering

Discussion in 'Property Management' started by abc_123, 3rd Apr, 2020.

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  1. abc_123

    abc_123 Well-Known Member

    Joined:
    22nd Feb, 2020
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    Location:
    ACT
    Heard elsewhere here that EBM and TS are still renewing, but not selling new policies. Not sure if they modified the policy for the renewals - would have expected them to at least remove rent default.

    Some examples I found:

    Suncorp not offering their combined landlord/building contents policy anymore and building contents alone not available to landlords either (may have always been the case though).

    AAMI appear to be still offering landlord cover but as you proceed with the quote it is just a building and contents cover available for landlords and they not selling the optional landlord cover at the moment.

    NRMA not offering landlord cover and actually state this is for the duration of the pandemic. So it may not be that they are all just putting this on hold pending a rewrite but will just stop offering them at all to new clients indefinitely.

    Whilst EBM and TS I guess landlord cover is a speciality, if they stopped renewing that is going to impact their business a lot, but for the other insurers that it is a small part of their business they might just stop offering renewals too. I was thinking also that since rent default claim only occurs when tenant actually leaves in rent arrears, the non renewal of policies may be an out for those claims (as you will no longer be covered at the time that event of them leaving occurred).

    So hoping others could share if they have had a renewal offered very recently and with whom... I have a renewal coming up and Suncorp are yet to respond to my questions...

    Will people be happy to lease a currently vacant property if they can't get any landlord insurance at all? So no malicious damage cover not just rent loss...
     
    Tfu likes this.
  2. Tony3008

    Tony3008 Well-Known Member

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    Docklands, Victoria
    I let one of my TS LL policies lapse in February (my bad: misplaced renewal docs then forgot) and got a reminder last Monday - renewal accepted with no query.
     
    Michael Mitchell likes this.
  3. Closet

    Closet Well-Known Member

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    23rd Oct, 2017
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    Location:
    Australia
    If you contact the insurance council of australia they will be able to tell you who is still underwriting