Frequently Asked Questions (FAQs)

When should I get my investment property insured?

Cover can be started at any time (but cannot be backdated). If you have just purchased a property, the best time to start is straight away. As a landlord, you have a liability exposure from the moment you or your agent begins showing potential tenants through the property.

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Does landlord insurance cover loss or damage to the building?

Only for damage to the building caused by damage and theft by the tenants or people they invite into the property. The landlord should also consider having Building Insurance, which covers a broader range of damage to buildings, including flood and storm damage. Our Building Insurance policy combined with Landlord Insurance provides a more complete package of cover.

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What is the right sum insured for my home and contents?

Your building and contents sum insured should reflect what it would cost to rebuild your house or replace your contents at today’s prices.

To help you estimate the rebuild cost of your residential investment property you can use the Terri Scheer Building Calculator. Please note that the calculator is intended as a guide only. It is not intended to be relied on for the purpose of making a decision in relation to purchasing our products. Consider whether you need a professional valuation from an architect, builder or other valuation expert.

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If the landlord moves into the property does the policy have to be cancelled?

Yes, the cover is no longer valid when the landlord permanently resides at the insured property. The landlord or property manager should advise us if they permanently move into the insured property.

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How can I change or cancel my landlord insurance policy with Terri Scheer?

You can cancel or change most policies over the phone provided you are the insured policy holders. Instructions to change or cancel the policy sent to us from the landlord via email are also acceptable. Call Terri Scheer on 1800 804 016 or email customerservice@terrischeer.com.au.

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My tenant is on a periodic lease. Am I still covered?

Yes. Both fixed term and periodic leases are covered, including any continuation of a lease, if they have a written lease agreement.

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Is an excess payable on Terri Scheer’s insurance products?

Yes, an excess or excesses may be payable. Please refer to the relevant  Product Disclosure Statement  together with the  Additional Information Guides  for the policy you are considering.

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How can I make a complaint with Terri Scheer?

We’re sorry to hear you’ve had to ask this question. If you experience a problem, are not satisfied with our products or services or a decision we have made, please visit our Complaints page to access more information.

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What is an Emergency Service Levy (ESL)?

We (and other general insurers) collect an ESL to help pay for the NSW Emergency Services, including Fire and Rescue NSW, the NSW Rural Fire Services and the NSW State Emergency Services.

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How do I get confirmation of a change that I’ve made to my claim or policy?

You can get confirmation of this change by calling us on 1800 804 016.

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What’s the difference between Landlord Insurance and standard Home & Contents Insurance?

Home and Contents Insurance is designed for owner-occupied homes and typically covers the building and personal belongings. It does not cover many risks associated with renting out a property.

Landlord Insurance is designed for rental properties and can cover tenant-related risks such as loss of rent, tenant damage and legal liability. It helps protect both your rental property and the income it generates.

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When is the best time to start cover?

You can start your cover at any time, but it can’t be backdated. If you have just purchased your property, we recommend starting your policy straight away. This is particularly important if the property is being advertised for rent, as your liability begins as soon as inspections commence.

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Will I need to pay an excess if I make a claim?

Yes, an excess may apply when you make a claim. The amount and type of excess will depend on your policy and the nature of the claim. Refer to your Product Disclosure Statement and Additional Information Guide for full details.

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What is Holiday and Short-term Rental Insurance?

Holiday and Short-term Rental Insurance is a specialised type of cover designed for properties rented out to guests for short stays. Terri Scheer’s Holiday Rental Insurance can cover landlords against tenant-related risks, including loss of rental income and loss or damage to your building or contents caused by guests.

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How much is Short-term Rental Insurance?

The cost of Short-term Rental Insurance varies depending on factors like your property, location and level of cover. With Terri Scheer, Holiday Rental Insurance can cost from as little as $1.50 per day^, depending on your policy and circumstances.

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Does Home Insurance cover short term rentals?

Standard Home or Contents Insurance may not cover short-term rentals, or may have exclusions when the property is rented to paying guests. Short-stay rentals introduce different risks, such as frequent guest turnover and higher exposure to damage, so a specialist policy is typically required.

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Do I need insurance for an Airbnb or short-term rental?

If you rent out your property on platforms like Airbnb or Stayz, having the right insurance is important. Standard Home Insurance may not cover short-stay guests, so a specialist Short-term Rental Insurance cover helps protect your property and income from guest-related risks.

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Does Holiday Rental Insurance cover loss of rental income?

Yes, Holiday Rental Insurance can cover loss of rental income if your property becomes untenantable or inaccessible due to an insured event. This can help protect your income if bookings are cancelled or disrupted unexpectedly.

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What risks are associated with short term rental properties?

Short‑term rental properties can face higher risks due to frequent guest turnover, including damage, theft and liability issues. Insurance designed for holiday rentals, like Terri Scheer’s Holiday Rental Insurance, can help manage these risks and protect your investment.

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Does Strata cover Building Insurance?

If your property is part of a Strata scheme, the owners corporation usually arranges insurance on behalf of all owners. This cover typically includes the building structure, common property and original fixtures. However, it does not cover your personal belongings, and it may not cover upgrades or improvements you have made to your unit.

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Do I need Building Insurance if I have Landlord Insurance?

Landlord Insurance alone does not provide full building cover. It generally only covers tenant-related damage, so building insurance is needed for broader risks like storm or flood.

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Does Building Insurance cover apartments or units?

Building Insurance can cover apartments or units, but if the property is part of a strata scheme, the building may already be covered under Strata Insurance. Strata Insurance typically covers the structure and common property, while individual owners may need additional cover.

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Does Building Insurance cover vacancies?

Building Insurance policies may still cover your property while vacant, but cover can be subject to conditions or limitations. It’s important to check your policy wording.

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Is Combined Cover two policies or a single policy?

Combined Cover isn't a separate third type of insurance. It's two bundled Landlord Insurance and Building Insurance covers, providing protection for both tenant-related risks and insured building damage. Each policy is considered individual. We offer this bundle to enhance convenience for our customers.

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What is the best Landlord Insurance?

The best Landlord Insurance depends on your property, location and level of risk. A strong policy will typically offer cover for tenant damage, loss of rental income and a wide range of insured events, helping protect both your property and income. While we can’t say that Terri Scheer’s policies are the best, a few of our customers can. Feel free to read our customer reviews and see for yourself.

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Do I have to pay my excess when I make a claim?

Yes. Terri Scheer policies include an excess, which is the amount you contribute towards a claim. The specific excess that applies will depend on your policy and is outlined in your PDS and Additional Information Guide.

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How do I access emergency support?

If you need urgent assistance or need to discuss a claim (including serious or extensive damage), contact us on 1800 804 016.

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Does Terri Scheer cover loss of rental income?

Yes. Terri Scheer Landlord Insurance and Holiday Rental Insurance can cover loss of rental income for a range of insured scenarios, including tenant default, absconding tenants, hardship decisions, or where the property becomes untenantable due to an insured event. Loss of rent can also be covered under Terri Scheer Building Insurance, if the claim meets the policy requirements listed in the PDS. If your claim is accepted, payments are based on what you would be legally entitled to receive under the lease agreement.

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Can I do urgent repairs to my home before I make a claim?

Yes, but if you do, you must keep evidence of the damage (such as photos) before commencing repairs, so we can review the claim.

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What happens after I make a claim?

Once you submit a claim:

• You’ll receive a claim number.
• We may contact you for more information or to request supporting documents.
• In some cases, we may appoint a loss adjustor (e.g. for extensive damage).
• They will keep you updated on the progress of your claim until it’s resolved.

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