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Create a Winning Strategy for your Investment Property

Imagine this scenario

You've worked hard to build your family's financial security and prosperity. You purchase an investment property with a view to capital growth and the benefit of steady rental income.

But then the unexpected occurs.

Your tenant runs into financial difficulty and stops paying the rent. A broken water pipe causes major flooding. Cooking is left unattended and your property burns to the ground. 

As a landlord you can be left out of pocket with no regular rental income and significant repair bills. 

This is where landlord insurance can help.

What can go wrong?

Financial reward is not without its risks. For landlords, the main risks associated with owning a rental property include:

  • Loss of rental income

Loss of rent is the most common issue landlords experience. This can occur if a tenant defaults on their rental payments. If a property has been damaged, loss of rent can occur while repairs are made.

  • Tenant damage

This can be accidental or malicious. Terri Scheer Insurance has seen instances of holes punched in walls, kicked-in doors and intentional damage to carpets and floors. However, even the most fastidious tenant can spill red wine on a carpet.

  • Legal liability

If a tenant suffers bodily injury on the property and the landlord is found responsible, there may be significant legal expenses and compensation payments.

With landlord insurance from Terri Scheer Insurance, investment property owners can seek protection from these risks to help secure their wealth.

Percentage of Terri Scheer insurance claims paid to landlords that include the following types of loss – Terri Scheer Insurance (Jan – Dec 2016, Landlord Preferred Policy)

Claims %
Loss of rent 32%
Tenant damage – includes accidental, malicious, deliberate and pet 30%
Reletting cost exceeds bond 12%
Water damage 8%
Theft 5%
Storm damage 3%
Other 10%

NOTE: Claims can include more than one type of loss

Who is Terri Scheer Insurance?

Terri Scheer Insurance is Australia's leading landlord insurance specialist and was established in 1990. Part of the Suncorp Group, Terri Scheer insures nearly 200,000 investment properties.

That's a major vote of confidence from Australia's rental property owners.

While most other insurers include landlord insurance as an add-on product, it is the Terri Scheer Insurance specialty. Our sole focus is to support landlords to protect their investments and safeguard their wealth. Visit www.terrischeer.com.au to learn more.

Why insure your property with Terri Scheer Insurance?

Some landlords believe that the cost of landlord insurance outweighs the peace of mind, protection and financial security benefits. This is not true.

Terri Scheer Insurance has paid single claims as high as hundreds of thousands of dollars or substantially more than the annual premium.

Landlords need to think how they would cope financially – such as making mortgage repayments – if their investment property stopped generating rental income.

Landlord insurance costs as little as one dollar per day to safeguard your investment property income from unruly tenants, unpaid rent and other costly risks. 

It can be a winning strategy.

How do you get landlord insurance?

More than 8000 property management offices across Australia offer Terri Scheer Insurance cover as part of their all-inclusive service to landlords. This makes us the most referred landlord insurer in the country. You can also purchase insurance directly from Terri Scheer at www.terrischeer.com.au 
 

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