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Understanding Our
New Terri Scheer -
Landlord Preferred Policy Self Managed PDS

Introducing a new Terri Scheer Landlord Preferred Policy Self Managed Product Disclosure Statement and Policy Wording (PDS) for policies renewing on or after 29 March 2021. The PDS is an important legal document that contains details of the product you purchase so you need to read it carefully.

The purpose of this page is to advise you of some changes that we have made to our Terri Scheer Landlord Preferred Policy Self Managed PDS. We have updated some of the wording to make it clearer and we have added and changed some covers, conditions and exclusions.

Below are some of the sections parts in the PDS where we have made changes:

Below are some of parts in the PDS where we have made changes:

General Changes

Summary of Changes to Cover

Things we don’t Cover

Claims Sections

Download PDS


General Changes

Extra Support (new section in your PDS)
Sometimes your circumstances might mean you need additional support or assistance in dealing with us. This could be due to your physical or mental health, family or financial situation or cultural background. If you are comfortable, you can tell us about your situation, and we will work with you to arrange support.

When you need to contact us
Additional situations for when you must contact us have been included in the PDS. For example, you must tell us as soon as possible if:

  • You have been charged with or convicted of, a criminal act or offence;
  • You have had another insurer cancel or decline an insurance policy, impose specific conditions on a policy or refuse a claim;
  • You start farming, manufacturing or undertaking repair work at or from the insured address or you or your property manager becomes aware that tenant does farming, manufacturing or repair work at or from the insured address.

Cancellation by you or us
We will not give a refund if the refund due is less than $10.

Joint Policyholders
During the period of insurance, we might ask all joint policyholders first before we action a request or direction in relation to your policy (e.g. before we cancel your policy, reduce your cover or remove another policyholder). This way we can help protect the interests of all policyholders.

Conduct of others
When we consider a claim, we will have regard to prejudice suffered by you due to conduct of others and may meet the claim when we are not legally required to do so.

The information above is not a complete list of the changes to your insurance. For full details of what is and isn’t covered, please read the Terri Scheer – Landlord Preferred Policy Self Managed Product Disclosure Statement. Consider the Product Disclosure Statement before making a decision about this insurance.


Summary of Changes to Cover

Impact
Cover for loss or damage caused by impact at the insured address now includes power surge caused by impact.

Prevention of access
We have changed prevention of access cover to include the following scenarios which cause your tenant to not have access to the insured address:

  • Damage to a building (but not insured building), strata title property, or a road or street;
  • Burst water main;
  • Bomb threat or bomb damage;
  • Street riot;
  • Lift malfunction at the insured address (and the tenant has a medical certificate stating they must use a lift);
  • Emergency services refuse access to insured building or evacuate your tenant for safety reasons.

Fire (including bushfire) or explosion
New exclusions have been added to the fire (including bushfire) or explosion cover. We do not cover:

  • Arcing or melting;
  • Gradual exposure to fire, heat, ash, soot and smoke during recurring incidents of fire or bushfire over an extended period of time;
  • Pollution or vapour from the home heater or a cooking appliance unless a fire spreads from the initial source.

Electric Motor Burnout
No cover for motors more than 7 years old.

We may appoint a supplier to source a replacement item if repair cost exceeds replacement cost.

What we do not cover as your contents

We have added that we do not cover the following:

  • Personal transportation vehicles;
  • Drones;
  • Gift cards and vouchers;
  • Electrical items no longer able to be used for their intended purpose

We have included definitions for Personal transportation vehicles and Drones.

Escape of liquid
New exclusions have been added to escape of liquid cover. We do not cover:

  • Wear, tear or gradual deterioration, or loss or damage by the gradual process of liquid leaking, splashing, dripping or overflowing;
  • Loss or damage caused by the building not being in good condition (e.g. blocked gutters).

Riot, civil commotion or public disturbance
New exclusions have been added to the riot, civil commotion or public disturbance cover. We do not cover:

  • Loss or damage caused by you or your tenants or their guests;
  • Loss or damage caused by nuclear or biological devices.

Tax Audit
This cover has been removed.

The information above is not a complete list of the changes to your insurance. For full details of what is and isn’t covered, please read the Terri Scheer – Landlord Preferred Policy Self Managed Product Disclosure Statement. Consider the Product Disclosure Statement before making a decision about this insurance.


Things we don’t Cover

General exclusions are now called ‘Things we don’t cover’. ‘Things we don’t cover’ has been updated, with new items, as well as changes to existing things we don’t cover.

We do not cover loss or damage to, or caused by, connected with, or arising from, or liability caused by, connected with or arising from:

Biological, chemical, other pollutant or contaminant
Any actual or threatened use, existence or release of any biological, bacterial, viral, germ, chemical or poisonous substance, pollutant or contaminant; or any looting or rioting following the actual or threatened release of any biological, bacterial, viral, germ, chemical or poisonous substance, pollutant or contaminant; or any action taken by a public authority to prevent, limit or remedy the actual or threatened release of any biological, bacterial, viral, germ, chemical or poisonous substance, pollutant or contaminant.

Reservoirs or dams
Any deliberate or malicious acts causing damage to, or destruction of, a reservoir or dam, or any looting or rioting following such an incident.

Property or contents not in good condition

Any part of your property or contents not being in good condition. We have provided numerous examples to illustrate what would be considered not being in good condition.

Smoking
Smoking of cigarettes, pipes, cigars, vapes or by use or consumption of any drug.

Not complying with building laws or regulations
Any component of the building that was not built, constructed, renovated, altered or repaired in compliance with local council requirements or relevant building laws or regulations (non-complying building component), except those laws or regulations introduced after your building was originally built or when construction, repairs, renovations or alterations were undertaken.  Numerous examples of non-compliance have been provided to help illustrate this exclusion.

Water seeping or running

  • Through a wall or floor;
  • Through an opening made for the purpose of alterations, additions, renovations or repair;
  • Down the sides, against the sides or underneath swimming pools, spas or underground tanks;
  • Against or through retaining walls;
  • From agricultural or overflow pipes.

Acts or omissions
An act or omission, by you or someone acting with your given or implied consent that: is deliberate; is a deliberate lack of action; or demonstrates a reckless disregard for the consequences of that action or omission.

Illegal drugs
Any unintentional or intentional use, existence or contamination by, of or due to:  Illegal drugs including but not limited to the storage, use, possession, consumption or distribution of any illegal drugs (or illegal drug precursors); and any other chemical or poisonous substance.

Mould or mildew
Mould or mildew at the insured address unless it was directly caused by an incident covered by your policy and there is no evidence or pre-existing mould in your property.

Computer virus or computer hacking
Computer virus or computer hacking.

We do not cover:

Removing asbestos
The cost to remove asbestos or its derivatives from the insured address, unless the cost is incurred in order to undertake repairs or rebuilding in connection with loss or damage to your building that is covered under this policy, and then only to the extent removal is necessary in order to repair insured damage.

Loss of water
Loss, storage or replacement of water in any tank, container, pool, spa and any other water storage vessel.

Communicable diseases
Any loss, damage, claim, cost, expense, legal liability or other sum, directly or indirectly arising out of, or attributable to, a Communicable Disease or the fear or threat (whether actual or perceived) of a Communicable Disease.

A definition for Communicable Disease has been included.

The information above is not a complete list of the changes to your insurance. For full details of what is and isn’t covered, please read the Terri Scheer – Landlord Preferred Policy Self Managed Product Disclosure Statement. Consider the Product Disclosure Statement before making a decision about this insurance.


Claims Sections

Changes have been made to the Claims sections including introducing or changing:

How we settle building claims
We’ve made a range of changes to this section to better explain how we will settle your building claim, for example, that we will aim for you to use your own builder to repair or rebuild the damage, and that we may pay you an assessed quote amount if you choose to not use your own builder and a member of our supplier network is unable to repair or rebuild your building.

Our right to recover from those who are responsible

We have added examples of the assistance that may be required from you if we take action against a party for the recovery of your loss.

How we settle contents claims
We’ve made a range of changes to this section to better explain how we will settle your contents claim. We will no longer apply any allowance for depreciation due to age.


The information above is not a complete list of the changes to your Terri Scheer Landlord Preferred Self Managed Policy. For full details of what is and isn’t covered, please read the Terri Scheer – Landlord Preferred Policy Self Managed Product Disclosure Statement. Consider the Product Disclosure Statement before making a decision about this insurance. These changes apply to policies renewing on or after 29 March 2021.