We have landlord insurance with Terri Scheer.
Had an issue with tenants last year, phoned for advice and was surprised to learn that Terri Scheer does not cover any cleaning up costs.
Fortunately the tenants left the place far better than we had feared and the bond covered our outlays, but had it been left in a pigsty then we had no cover through our insurance for removal of rubbish (we are talking multiple car bodies here plus a mountain of assorted car parts) or cleaning.
Malicious damage IS covered, but the excess ($200 from memory) applies to EACH event. So if the carpets are damaged, there are holes in the wall, kitchen cupboards are kicked in, the pool filter is cactus and the fence has been trashed, then we are talking about FIVE events with $200 applicable to each - $1,000. We were told that they would PROBABLY link "holes in walls" to one event, but would not guarantee that.
If EACH case of malicious damage is treated as a separate event with a $200 excess, it is hard to see much of the claim being paid.
The above statements were made to us when I phoned to get advice in case we had to lodge a claim.
Needless to say, it has been a bit of a wake-up call.
Maybe all insurance products of this type are them same, but when our policy is up for renewal I will be phoning around and asking a few probing questions.
Marg
Had an issue with tenants last year, phoned for advice and was surprised to learn that Terri Scheer does not cover any cleaning up costs.
Fortunately the tenants left the place far better than we had feared and the bond covered our outlays, but had it been left in a pigsty then we had no cover through our insurance for removal of rubbish (we are talking multiple car bodies here plus a mountain of assorted car parts) or cleaning.
Malicious damage IS covered, but the excess ($200 from memory) applies to EACH event. So if the carpets are damaged, there are holes in the wall, kitchen cupboards are kicked in, the pool filter is cactus and the fence has been trashed, then we are talking about FIVE events with $200 applicable to each - $1,000. We were told that they would PROBABLY link "holes in walls" to one event, but would not guarantee that.
If EACH case of malicious damage is treated as a separate event with a $200 excess, it is hard to see much of the claim being paid.
The above statements were made to us when I phoned to get advice in case we had to lodge a claim.
Needless to say, it has been a bit of a wake-up call.
Maybe all insurance products of this type are them same, but when our policy is up for renewal I will be phoning around and asking a few probing questions.
Marg