There are a lot of policies out there that say they protect your investment property however do you really know what your covered for?
So often people just look at price and not at what they are buying. Take 5 minutes to look at the cover that you currently have then compare it to ours.
Like for like our CGU Landlords policy stacks up against our competitors and also offers extremely competitive pricing to ensure your getting value for money.
Below we have several questions that you may ask yourself about your current cover or about the cover we offer. We strongly urge you that to truly Protect Your Investment you should look at the questions below, and question your cover. We offer this service free of charge and should your cover not stack up or should you find your current insurer has not helped you select the right cover then obtaining a quote through us is easy.
In 2 minutes you’ll have a price, and if you like the price, within 2 minutes you’ll have the cover.
So run through the questions below and consider our Product disclosure statement and see how your cover stacks up or just go straight ahead and get a quote now.
Does your current policy cover loss of rent?
Loss of rent covers you if your buildings suffer loss or damage and are inhabitable as a result we will cover any loss of rent equal to the weekly amount as stated in your rental agreement for up to 12 months. The most they will pay is up to the sum insured, as listed on your schedule.
Does your current policy cover rent default by the tenant?
This covers rent default and theft by the tenant as well as the legal costs you incur as a result or rent default or theft by a tenant.
What’s the difference between loss of rent and rent default?
Loss of rent is a loss cover for the loss of rent as a result of damage to your buildings whereas rent default covers the loss of rent as a result of default by the tenant.
Is malicious damage by the tenant covered?
This is not automatically covered by all policies and is sometimes necessary to select this as a policy extra. If you require this cover ensure it is listed on your policy schedule.
Is your building sum insured adequate and how can you tell if it is?
Check out our building sum insured calculator to estimate the value of replacement of your building with near 90% of Australians underinsured it’s definitely a worthwhile exercise.
Are my fixtures and fittings covered, do I need contents cover?
Your fixtures and fittings are only covered if you have specified contents cover. **Tip for young players – Never specify less than $5,000 contents cover on our policy as up to $5,000 is always the same price.
Does my excess change with different types of claims, if yes, by how much?
Always consult your Product Disclosure statement or call us here to clarify your excess, some claims incur an additional excess. Ie in the event on an earthquake an additional $250 excess applies.
What can I do to reduce my premium?
A lot of people reduce their cover to save money. This is a very dangerous path to head down and will greatly effect the insurers ability to assist in the event of a claim. Increasing your excess and seeking alternative quotes (ensuring cover is similar) is the only safe way to reduce your premium.
If my policy is not adequate how can this affect me?
As many have learnt in the Queensland floods ensuring your cover is adequate is EXTREMELY IMPORTANT. At the end of the day the responsibility is yours to ensure that the cover is adequate for your needs. Those people who asked before the flood if flood was covered are in a much better than those who just shopped around for the cheapest premium and then only asked the question after the event.
Thank you for handling my claim quickly and simply and justifying the value of a broker :)
Thank you for you your prompt responses and service Michael!
Appreciate you taking to time to acknowledge my email! Your still so far the only person to do that since I've been really delving into business. That's why you'll always be my number one for insurance :)
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John has gone from strength to strength in the Perth insurance market with his difference making services like zippy.com.au and customer focus. John is industrious and personable, a great partner for any insurance transaction.