Multiple Rooming Tenancy Landlord Insurance

I have an investment townhouse in QLD

It is managed and rented on a rooming basis (4 rooms rented separately) to overseas students usually on 12 week (1 semester) room leases.

I have had this place for 12 years. It was with Terri Scheer for a few years. I had 1 claim. Paid with no problem. I then saw that EBM was cheaper. I switched to EBM.

I had one claim and they knocked it back due to rooming tenancy. I complained that there was no exclusion in the policy. They paid up but told me they could not insure me any more.

So I went back to Terri Scheer.

The Terri Scheer Landlord Preferred policy does not say anything explicitly about exclusion of rooming occupancy.

But I have also heard that you need separate policies for each room. But if the policy document does not explicitly state anything about excluding room lets then what is the legal situation?

 

You're likely to need a specialist underwriter. Eg rooming house insurance Archives - Axis Underwriting (not a recommendation just an example)

This will cost more than the usual insurers, reflecting the higher risks you're taking.