Most home and/or contents policies are not specifically designed for properties that are let for short terms, such as holiday letting and corporate leasing. The 'defined risks' they cover may be suitable for a property you live in, but as an owner of a short term letting property they may leave you exposed to a number of risks.Top
The problem is that many of the risks associated with short term letting properties are not covered under normal household insurance. These exclusions may include "loss of rent" and "damage by tenants".
Note: You may have "loss of rent" if your property burns to the ground for example, but not under circumstances such as where a guest or visitor has deliberately damaged your property.Top
We'll help out with up to $5,000 of legal expenses incurred while attempting to minimise a loss.Top
This is where you need Owner's Legal Liability Insurance which is automatically included in RentCoverShortTerm. There are any number of examples of these types of claims from someone tripping over loose carpet (where claims have exceeded $1,000,000) to balconies collapsing. RentCoverShortTerm includes $20,000,000 owner's liability.Top
RentCoverShortTerm includes cover for owners contents (such as carpets, curtains, blinds etc. as well as items left for the guests' use) against "defined risks" such as fire, storm and flood damage. For houses you should ensure you include the building option.Top
Most claims are settled within 5 working days from when our claims office receives the full information they require. Once the settlement has been calculated, the cheque is sent either to you or your agent via Australia Post. Some claims take longer, particularly major damage claims and those requiring an assessor. If we require more information to settle your claim we will generally contact you or your property manager within 48 hours.Top
Clients who are not fully satisfied with our service should contact our customer relations/complaints officer. Elkington Bishop Molineaux Insurance Brokers Pty Ltd also subscribe to the Financial Ombudsman Service (FOS), a free customer service, and the General Insurance Brokers Code of Practice. Further information is available by phoning 1800 661 662 or you may call the FOS on 1800 367 287 or by email to email@example.com.Top
You can apply online simply by clicking here. Alternatively you can request a brochure and application form to be forwarded to you.Top
The price varies depending on where your property is located.Top
When you receive your invoice you will be offered a number of ways to pay, including cheque, credit card and BPay. You can also pay by credit card by phoning 1800 661 662 during business hours. Should you wish to pay by cheque or money order, payments can be sent to PO Box 879 Hawthorn Vic 3122. You can pay online with Mastercard or Visa here.Top
You can apply online by clicking here however should you be mailing an application form it can be sent to PO Box 879 Hawthorn Vic 3122Top
Generally yes, in most cases the premium is tax deductible however you should check this with your accountant.
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