Who's good for Insurance in 2018 Resi

EBM are selling a product called RentCover, but refusing to cover for rent losses...

 

Unfortunately with insurance there will always be cases where people don’t get what they would like, or possibly expect, it’s the nature of the beast as it can be a difficult area to understand for many. In saying that it is one of the most regulated industries in Australia with very well documented policy terms and complaints processes, so if an Insured doesn’t agree with a settlement, and believes the Insurer has not acted by the policy terms, there is a very clear process to follow, which ultimately includes an external independent review.

No doubt it would be great if an insurance policy could cover every event known to mankind however if that were the case it would be unaffordable and no-one would insure. Hence there are specifically set down risks and events that are covered.

There are, for the record, millions of dollars of claims paid for rent loss under the RentCover policies every year.