EBM RentCover vs Terry Scheer Landlord and Contents Insurance

Who provides a better all-round cover?

  • EBM Brokers

    Votes: 12 85.7%
  • Terry Scheer

    Votes: 2 14.3%

  • Total voters
    14
  • Poll closed .
EBM and TS seem to be the two most commonly recommended choices for landlord and contents insurance.

I've just done a quick online quote and EBM RentCover Ultra is $345/annum while Terry Scheer is $382/annum so there is very little difference in price.

Just wondering if anyone has had experience with the above and can recommend one over the other.

Cheers
 
EBM and TS seem to be the two most commonly recommended choices for landlord and contents insurance.

I've just done a quick online quote and EBM RentCover Ultra is $345/annum while Terry Scheer is $382/annum so there is very little difference in price.

Just wondering if anyone has had experience with the above and can recommend one over the other.

Cheers

EBM was ~ 800 for one policy for landlord and contents AND building insurance.
Terri was $1200 for 2 separate policies (landlord and contents ) + building

I went with EBM
 
I don't know who this was, or even if the same condition exists.

I was told about how somebody about ten years ago had their unit trashed, causing about $15k of damage.

They got back $7k, as it was deemed that the damage was caused by a lot of separate incidents, each one subject to an excess.
 
I don't know who this was, or even if the same condition exists.

I was told about how somebody about ten years ago had their unit trashed, causing about $15k of damage.

They got back $7k, as it was deemed that the damage was caused by a lot of separate incidents, each one subject to an excess.

I was with Terri Sheer 10 years ago and what geoff posted above happened to me.
 
Thanks for your help. EBM seems to be the way to go. I spoke to them today and my managing agent is some sort of partner with EBM so the first year will be $288 rather than $345 which seems quite cheap. I was happy with their initial service as well, so will probably go with them after reading the PDS.

Thanks again for the help.
 
I had never heard of EBM until I came to Somersoft so haven't ever compared their policies.
I've only ever had TerriScheer recommended by PMs - but have used other providers.
 
I was with Terri Sheer 10 years ago and what geoff posted above happened to me.

That is standard insurance procedure - an excess per incident/related incident, not an excess per claim. I thought that sucked too until I worked in insurance and looked at it from the other side.
 
I remember Terri Scheer covers flood in their building policy whereas EBM does not which may explain some difference in costs. Am I mistaken?
 
That is standard insurance procedure - an excess per incident/related incident, not an excess per claim. I thought that sucked too until I worked in insurance and looked at it from the other side.

I understand that there are companies which do not operate in this way. I'd be interested in knowing.
 
From my research thus far, EBM seems to be the favourite. Their service is great, my PM highly recommended them (and uses them for his own properties) and they ended up being significantly cheaper than TS. I'll be going through EBM.

Thanks for all the help.
 
That is standard insurance procedure - an excess per incident/related incident, not an excess per claim. I thought that sucked too until I worked in insurance and looked at it from the other side.

It is a bit of a shock though when the myriad of carpet burns can be seen as separate events with the excess per claim.

Also, as long as it is actually possible to claim for the insured event. With some things one doubts whether the insured event could ever be claimed at all given the exclusions, many hidden.

However the insurers and the owners are in the same boat most of the time, with both wondering about regulations, and restrictions on databases of rogue tenants, that seem to protect the problem tenants while disadvantaging ordinary responsible tenants, owners and insurers.

I am coming to prefer the system in Europe where the tenancy is for the building only and the tenant is responsible for the decor, electrical appliances, minor repairs and so on. That way the majority of tenants, owners and also insurers could manage their risks better and rents would be far cheaper.
 
I

I am coming to prefer the system in Europe where the tenancy is for the building only and the tenant is responsible for the decor, electrical appliances, minor repairs and so on. That way the majority of tenants, owners and also insurers could manage their risks better and rents would be far cheaper.

Yes, but many things are different in Europe in Rentals so a comparison here may seem sound but is not.

I was looking at investing in France and did some due diligence. Many complex rules such as:

CG tax which is paid by purchaser not vendor,

clear title is on the purchaser to establish costing $1000s for older properties.

Winter Rules, once winter hits and it is cold, a landlord cannot evict a tenant for lack of rent payment , regardless often for 6 months.

ON THE UP

Rent less than six months and you don't need to declare the rent as income for french tax. Suits English and German who have holiday home in France and lease it a furnished rental when not using.

hence Real Estate is very, very very cheap like this asking $1.2M AUS


Classic 19th century Maison de Maître in a glorious South facing location , with 17 acres grounds, swimming pool and equestrian facilities, nr Bordeaux, Gironde. This elegant country home offers
spacious and light accommodation with high ceilings, fireplaces and a beautiful stone staircase. Entrance hall, Salon with fireplace, light dining room, spacious study, country kitchen with stone tops, larder. Upstairs are 4 spacious double bedrooms and a very large family bath and shower room. The attached 2 car garage has a full second floor which would be easy to convert to a self contained apartment. Lawned gardens to the front with 12m swimming pool with panoramic views over the
countryside. Many mature trees and flowering shrubs. 3 purpose built loose boxes for horses and a fully drained, all year sand school. The 17 acres grounds are mostly down to pasture and there are several paddocks with a field shelter. A glorious area for horse riding. The property is within the Bordeaux appellation controlled, in a small rural hamlet, just a few minutes’ drive from villages with shops and restaurants. The lovely town of St Emilion is 35 mins away and Bordeaux with its international airport is just 35 mins.


This is ninth largest city in France with $1.2M people. Very stunning and very wealthy area being wine centre of the world. International Airport. VFT to Paris, Port to Atlantic. etc... Pleasant Ocean Climate.

Regards Peter 14.7
 
That is standard insurance procedure - an excess per incident/related incident, not an excess per claim. I thought that sucked too until I worked in insurance and looked at it from the other side.

There can be differences between companies. With RentCover Malicious Damage by the Tenant and Theft by the Tenant claims only have one excess per claim (not per event), whereas Accidental Damage claims have an excess per event or related event. Depending on the circumstances though these are often grouped together as "related", it's never cut and dried.
 
It is a bit of a shock though when the myriad of carpet burns can be seen as separate events with the excess per claim.

This can depend on the way the Insurer interprets it, as they can often be treated as related events so it limits the excesses that are applied. Unfortunately it does become one of those grey areas that can cause confusion, but there is no easy answer.
 
I'm 99.9% sure that EBM do not charge an excess for each repair.

One for Brett.

I know AAMI tried that one on me and we had WORDS. And whilst I won, I still moved to the good guys like Brett for peace of mind.

Personally, if I said one thing to anyone in investing it would be have the BEST INSURANCE. Dont think I can save $500 a year because if it burns down is trashed, etc, etc.. and you are not covered, it is game over in most cases.

Peter 14.7
 
Choosing the same insurer as the strata's insurer

I previously heard that when choosing an insurance company for stata- managed units, it is best to choose the same underwriter that the strata uses, then there is no argument between who's insurance will cover the damage.

Has anyone heard anything along these lines, or anything to the contrary??
 
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