TICA Landlord Insurance

Has anyone used TICA Landlord Insurance? Any feedback?

 

Haven't sorry, I generally use EBM

Do they offer a building insurance portion as well? There's strong advantages in having the LL and building components at the same place. It often provides a discount, prevents them from blaming each other for claims and is simpler to pay.

 

Hi First IP
We use property insurance plus for our clients - no excess on rent default which is the number one claim through insurance companies.

Check the excess - it's important.

I'm also looking into EBM, have not processed a claim through that yet but in the process of checking it out.

can you post something here on TICA insurance? happy to make some comments for you once I have seen what it's about.

 

Thanks David. They offer building insurance but I\it's my understanding that I won't need it as it's a strata block. TICA is cheaper then EBM and TS, with lower excesses and greater cover.

 

Ah if its strata then perhaps give it a try and report back for the benefit of the group

 

Hi Xenia,

Thanks for your thoughts. The link is http://www.tica.com.au/Docs/TICA_Landlord_Insurance_Brochure_PDS.pdf.

I agree that the excesses are important and this policy seems to be better than TS and EBM.EBM seems to only cover 6 weeks loss of rent for a defaulting / absconding tenant whereas TICA is 15 weeks. I'll need to do some further investigating as I'm not sure if TICA covers failure to give vacant possession, prevention of access, re-letting expenses, tax audit and removal of goods.

 

They have their own online claims portal which is pretty handy... I'm the opposite way around - haven't used PIP so not sure what they're like.

EBM also no excess on rent related claims and cover between 6 and 52 weeks, depending on the type of incident.

 

Does TICA ore-screen the tenants to determine whether they should take on the risk and adjust the premium accordingly?

 

Not as far as I'm aware.