RentcoverShortTerm FAQ's

How is RentCoverShortTerm different to other policies?
What if I've already got insurance?
What about my legal expenses?
What if a guest injures themselves on my property and blames me?
What about fire and storm damage?
How long does it take to settle a claim?
What if I'm not satisfied with my claim settlement?
How do I arrange cover?
How much do I pay?
How do I pay?
Where do I send the application form?
Is it tax deductible?

How is RentCoverShortTerm different to other policies?

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.

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What if I've already got insurance?

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.

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What about my legal expenses?

We'll help out with up to $5,000 of legal expenses incurred while attempting to minimise a loss.

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What if a guest injures themselves on my property and blames me?

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.

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What about fire, storm and flood damage?

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.

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How long does it take to settle a claim?

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.

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What if I'm not satisfied with my claim settlement?

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 info@fos.org.au.

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How do I arrange cover?

You can apply online simply by clicking here. Alternatively you can request a brochure and application form to be forwarded to you.

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How much do I pay?

The price varies depending on where your property is located.

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How do I pay?

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.

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Where do I send the application form?

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 3122

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Is it tax deductible?

Generally yes, in most cases the premium is tax deductible however you should check this with your accountant.

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