LANDLORD INSURANCE INFORMATION
Selecting the right Landlord Insurance policy is just as important as selecting the right tenant. Landlord Insurance should not be the only form of risk management but a part of easing the possible financial burden placed on landlords not only by a defaulting tenant but other unforeseen events that may occur.
Three main things that most people look for before taking out an Insurance Policy cover are:
1. Cost
Cheapest is not always the worst and dearest is not always the best. TICA recommends reading the Product Disclosure Statement to make an informed decision when comparing policies.
2. Cover offered
Have a full understanding of what the policy covers and under what circumstances you can claim.
3. Excesses payable
Do you or your landlord’s know the excesses payable on various claims under their policy?
The excess payable quite often determines whether a landlord is willing to claim on their insurance policy. High excesses may diminish the value of having an insurance policy and does not sufficiently diminish the burden left to be carried by the landlord after the insurance has paid out.
We believe TICA offers one of the best Landlord Insurance policies to the industry underwritten by one of Australia’s largest Insurance companies Allianz Australia Insurance Ltd.
TICA’s Landlord Insurance policy, titled “Property Owners Extra Protection Insurance” (POEP) is the most competitively-priced policy offering what we believe is the best coverage and excesses. POEP Insurance offers your landlord an affordably-priced policy, wide coverage and low to nil excesses on all claims.
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