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Landlords set to Benefit from Enhanced Insurance Policies
By Mark Hamblyn, Terri Scheer Distribution Manager
As Australia’s leading landlord insurance specialist, Terri Scheer understands that a changing economic climate and increased cost of living are some of the main concerns our customers face when managing their rental investments.
This is why we are pleased to announce we are making a number of policy enhancements to improve landlords’ level and quality of cover.
In response to changing market conditions, we have increased the upper limit of default weekly rent cover to $1,500 on our standard premium specifically for all landlord and holiday rental insurance policies.
Contents coverage within these policies will also increase from $60,000 to $70,000, while cover for the removal and storage of goods left behind by tenants will increase to a maximum of $5,000.
Additionally, landlords will be covered for up to $5,000 worth of damage caused by tenants’ pets – provided the landlord has approved those pets being kept at the property.
Summary of updated benefits – Terri Scheer Landlord Preferred and Terri Scheer Short Stay:
Weekly rent cover
Upper limit of $1,500 on our standard premium
Included contents cover
Increased from $60,000 to $70,000
Removal & storage of goods
Increased to $5,000
Pet damage
Increased to $5,000
Rent reduction for building damage
Increased to 52 weeks
These increased benefits will apply to new policies commenced and existing policies renewed on or after 10 August 2024.
Terri Scheer’s enhanced landlord insurance coverage will be reflected through updated wording in policy documents. The updated Product Disclosure Statement (PDS), which outlines all policy enhancements and benefits, is now available here. Updated brochures and other materials will be available from 10 August 2024.
Property managers and landlords should always refer to the relevant PDS for further information regarding coverage for their specific circumstances.
For property managers and real estate agents, please ensure that updated brochures are in place and that all current stationery is removed from display on 10 August 2024. Terri Scheer encourages you to dispose of outdated materials thoughtfully by recycling printed items.
Why choose Terri Scheer for Landlord Insurance?
Terri Scheer is Australia’s Leading Landlord Insurance Specialist, offering dedicated policies to suit the specific risks associated with owning a rental property. Our expert teams are equipped to assist landlords at every stage of their claim.
More than 15,000 Property Management offices across Australia have landlords who have used Terri Scheer insurance as part of their all-inclusive service to landlords.
For further information, call 1800 804 016.
Disclaimer:
Insurance issued by AAI Limited ABN 48 005 297 807 AFSL 230859 trading as Terri Scheer. Read the Product Disclosure Statement before buying this insurance and consider whether it is right for you. Contact Terri Scheer on 1800 804 016 or visit our website at www.terrischeer.com.au for a copy. The Target Market Determination is also available.
The information is intended to be of a general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon it – please make your own enquiries. This article has been prepared without taking into account your particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it.
