One of worlds largest insurers has a nice ad on TV which I reckon is misleading. The default Allianz cover does not include accidental damage. The ad depicts:
- Girl knock over paint damaging carpets etc
- Water flooding after leaving tap on
- Fish tank knocked over while vacuum cleaning (by a man)...Fact : No man does this. And its accidential.
These events are normally uninsured unless optional cover is taken...
VERY misleading Allianz to depict an ad of uninsured events when offering general insurance.
Re: the vacuuming - do you mean men never vacuum or men never knock over fish tanks?
I have seen MANY men vacuum - flatmates, family members, tradies
Thank you BrettC.
At this stage I am leaning towards Suncorp, if they really do cover accidental.
If Suncorp doesn't cover accidental either, then I might switch to NRMA or just stay with QBE.
NRMA - I've heard good things. So, even if they don't cover accidental, they may be a better bet than QBE.
QBE - only bonus is my strata is insured with them as well (CHU, which is underwritten by QBE). I've heard on this forum that it's good to have both strata and LL insurance with the same company. I don't get a choice about the strata insurance, of course.
I have heard QBE is in financial difficulties, which worries me. That's another point off QBE.
The thing about alot of insurers is tenants MUST be on a lease for rental loss to be covered. I'm not sure if tenants not being on a lease will void any other aspects of the cover eg Let's say a tenant destroys the hot water boiler and I get a new one within a week. In the meantime, tenant lives without hot water. So not much/NIL rental loss there apart from possibly a week's free rent but not sure if the insurance will still cover the cost of the hot water boiler.
I hope I don't scare away my tenants by asking them to sign leases every 6-12 months. Some tenants may be looking to buy, and hence hesitant about being locked into another 6-month lease.
I could promise them that if they want to vacate at any time (apart from, say early December to mid-Jan), I am happy to let them go as soon as I can find a new tenant - say, max 3-4 weeks.
I agree the ads are misleading and deceptive, if Allianz really does not cover all of these events.