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It doesn't matter how good the tenants are, its not only about rent default. Liability is a bigger concern. The tenants or one of their visitos slips and hurts themselves and they can send you broke. All your life's savings and accomplishments could be spent paying for your tenant's...

I see...then maybe I was the lucky one. I tend to pick the tenants myself though. I go through the list of applicants and shortlist the ones I want to have checked out. I also look after my places so my rents are above average for a suburb

3 claims? Far out, you're either the ladlord king with 100 properties or you had bad luck. In 20 years I only made 1 claim

The CGU cheque with the additional amount came in yesterday so it's all good

This is a very important point and AAMI are not alone. I know NRMA are also taking the bond money so you are left with no bond to fix up the place. If I had no bond money I would have made a claim for malicious damage but trying to prove that a damage is malicious could be hard so unless...

Here is my recent experience on a claim with CGU They did not pay for damages but I was able to use the bond money for cleaning and repairs. CGU paid all unpaid rent up to 2 weeks after the tribunal order for repossession so if it takes longer than 2 weeks to get the tenant out and fix up the...

CGU are the same, I was reading through the fine print and here is what they say "Your excess and any additional excesses will apply for what we identify as each separate identifiable incident" Time to change to another insurer me thinks...... EDIT: on the other hand Terri Sheer has the...

Yes and they are not the only dodgy ones CGU have one excess for rent default and a separate excess for malicious damage. I'm about to make a claim for rent default with CGU so will report back with the results