Landlord Insurance

As managing agent, it is our duty of care to not only advise you on potential risks, but also provide information and help you reduce risks wherever possible.

Whilst most tenants will look after your investment property and pay their rent on time, circumstance can change within an instant, resulting in your excellent tenant breaching their agreement.

For example: if your tenant losses their job, they can no longer afford to pay their rent, or if a tenant accidentally damages the property and can’t afford to pay for the repairs. Landlord insurance provides cover for these instances.

There are 3 main areas of cover for landlord insurance:

  • Building – Protects your building against loss or damage caused by your tenants, their family or their invited guests.
  • Contents – Protects furnishings such as curtains/blinds, carpets, light fittings, stoves & appliances.
  • Loss of Rent – Protection from loss of rental income

HOWEVER, not all insurance policies are the same.

A majority of the time, insurance providers have small print and exclusions that result in a majority of common tenancy issues not being covered in the policy. An example of this: pet damage is generally not covered, as well as the difference between ‘flash flooding’ and ‘rapid flooding’. Several home owners and tenants who were affected by the 2019 Townsville Flood Event fell victim to this fine print in their insurance policy.

Terri Scheer – the Landlord Insurance Specialists

In all of the years that we have worked with Owners and their Insurance Agencies, there is only one that stands out above the rest – Terri Scheer. We have found them to be the fastest to act on a claim, most reasonable in relation to excess costs and have a high payout approval.

The Terri Scheer Landlord Preferred Policy provides cover for permanently tenanted properties, including:

  • Loss of rent
  • Loss or damage – Contents (including floating floorboards)
  • Loss or damage – Building (tenant damage)
  • Tax Audit
  • Legal Liability

 

Queensland Policy Premium: $349*

Landlord Insurance

* price subject to change

When looking for a landlord insurance policy, important considerations should be the cover offered and the amount of excess you are required to pay should you ever have to make a claim. Price alone shouldn’t be the only deciding factor – the old adage of getting what you pay for can apply to insurance as much as any other product. Peace of mind comes with knowing that the things most important to you will be covered in the event of a claim – along with knowing that your payment won’t be eroded by high excesses.

Many Real Estate Agents have been appointed as Distributors for Terri Scheer Insurance products and are able to arrange insurance on our behalf. Disclaimer: although Terri Scheer is our preferred Landlord Insurer, Meraki Property Management are in no way affiliated with Terri Scheer or sister companies.

Alternatively, cover can be placed online at terrischeer.com.au or by phoning Terri Scheer Insurance on 1800 804 016.

Save 10% of costs with Terri Scheer’s Combined Coverage

Download: Terri Scheer – Landlord Preferred Policy Application

Download: Terri Scheer – Landlord Residential Building Insurance

The information provided on this page is from Terri Scheer‘s website and is used for educational/information purposes only.
For more information, please visit https://www.terrischeer.com.au/

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