Forums / Property Investing / Help Needed! / Anyone use Terri Scheer Insurance?

Viewing 17 posts - 1 through 17 (of 17 total)
  • Profile photo of virgininvestorvirgininvestor
    Member
    @virgininvestor
    Join Date: 2007
    Post Count: 37

    Has anybody used or heard much about them for IP cover?

    Profile photo of v8ghiav8ghia
    Member
    @v8ghia
    Join Date: 2005
    Post Count: 871

    I have had quotes, but use AAMI, NRMA (goes against my grain, but need my IAG shares to stop plummeting :-(  ) usually.  Terri Sheer appear to have thorough cover, but the premiums for property, landlord, and contents have been double the cost of the comapnie I mentioned.
    Compare the features and excess, and see what you think.

    Profile photo of trakkatrakka
    Member
    @trakka
    Join Date: 2004
    Post Count: 257

    A recent post regarding this company, which I think says all you need to know:

    https://www.propertyinvesting.com/forums/property-investing/help-needed/4323223?highlight=scheer#comment-166183

    It says in part: "I actually work in insurance and have gone with Terri Scheer  for my landlords rather than the company I work for (and get huge discounts from)."

    Regards, Tracey in Brisbane

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,840

    As with all insurances, shop around. Some may need to spread their risks more than others and are able to offer better prices in some areas whereas they may have too much exposure in other areas and their premiums are reflective of this scenario.

    Profile photo of virgininvestorvirgininvestor
    Member
    @virgininvestor
    Join Date: 2007
    Post Count: 37

    Hi,

    Thanks guys for the feedback thus far,

    Its a unit so only needed contents and rent cover

    I got quotes from AAMI and RACV and from a few brokers eg. emi? and terri scheer

    The ones from the brokers were all around $255 and the ones from AAMI and such were a little higher $ apox 300

    The brokers had contents for 45-50K plus about the sane rent loss povisions, just need to check the excess on contents as no excess on rent cliams.

    So far the brokers insurance have been more favourite, but will go over each one before I decide, thanks again :)

    Profile photo of virgininvestorvirgininvestor
    Member
    @virgininvestor
    Join Date: 2007
    Post Count: 37

    Hi,

    Thanks guys for the feedback thus far,

    Its a unit so only needed contents and rent cover

    I got quotes from AAMI and RACV and from a few brokers eg. emi? and terri scheer

    The ones from the brokers were all around $255 and the ones from AAMI and such were a little higher $ apox 300

    The brokers had contents for 45-50K plus about the sane rent loss povisions, just need to check the excess on contents as no excess on rent cliams.

    So far the brokers insurance have been more favourite, but will go over each one before I decide, thanks again :)

    Profile photo of ginatginat
    Member
    @ginat
    Join Date: 2013
    Post Count: 1

    Hi,

    I ve just called to Terri Scheer insurance in regards to damage of our rental unit. I have been with Terri Scheer for 3 years and never had a reason to claim anything. Now the tenants crashed the unit and it's not rentable. 

    I called to insurance and they basically brushed me off, saying that they gave nothing to do with that, suggesting to call a building insurance of body corporate.

    What they call contents insurance includes just carpets, curtains and furniture. In our case the vanities was damaged and kitchen cabinets and the paint on the walls and doors. They are saying – that's not contents.

    I've talked to couple of people there including a senior claim consultant – with the same results.

    I signed out with Terri Scheer on advice from our property manager who probably got a commission for that. 

    I regret about so much and it turned out that I not only though away my money but got uninsured 

    I do not recommend anyone to sign with them – they are just a sham

    Profile photo of oc1oc1
    Participant
    @oc1
    Join Date: 2012
    Post Count: 148

    Interesting. I have never had any dramas with the odd claim here and there but that's been with loss of rent. Best you look at your policy booklet to see what "Contens"means.

    Oscar

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,042

    Just made two separate $5k claims with Youi for one IP – they paid out on one without too much hassle, the other claim was a bit of a pain but they eventually paid out.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: info@passgo.com.au

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    I have also found that Terri Scheer quotes are astronomical compared to other insurers. 

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of MikalHowardMikalHoward
    Participant
    @mikalhoward
    Join Date: 2013
    Post Count: 48

    Hi all,

    I use Property Insurance Plus and am very happy with their cover. Plus I get to speak to a person each time I call as the agent gave me his work number and told me, if I have a question or a problem to call him directly. The agent I deal with is Stephen Blair.

    Their contact details are as follows:

    Property Insurance Plus

    admin@pi-plus.com.au

    Phone: 1300 307 072

    http://www.pi-plus.com.au

    Hope that helps :).

    Mikal

    Profile photo of s0805s0805
    Participant
    @s0805
    Join Date: 2006
    Post Count: 85
    virgininvestor wrote:
    Hi,

    Thanks guys for the feedback thus far,

    Its a unit so only needed contents and rent cover

    I got quotes from AAMI and RACV and from a few brokers eg. emi? and terri scheer

    The ones from the brokers were all around $255 and the ones from AAMI and such were a little higher $ apox 300

    The brokers had contents for 45-50K plus about the sane rent loss povisions, just need to check the excess on contents as no excess on rent cliams.

    So far the brokers insurance have been more favourite, but will go over each one before I decide, thanks again :)

    hi there,

    I with AAMI as well for my unit (rent protection and contents). Haven't made claim yet, by my premium is less than $200. I see that you have contents of 45-50K ( is the IP you have is furnished or something)….I called AAMI before i joined and they clarified what they meant by contents….meants less contents cover for me…..cause renter is responsible for their contents….

    I suggest first you find out exactly how much contents you are after…..

    Cheers

    S0805 

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Be careful with Property Insurance Plus – when I last spoke to them the flood coverage wasn't great.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of MikalHowardMikalHoward
    Participant
    @mikalhoward
    Join Date: 2013
    Post Count: 48

    That would/should be a consideration with any insurance policy from any company. Both of my properties are not in flood zones so Property Insurance Plus suits me perfectly and is a much better price than most I looked at. Just another company for peeps to compare against if nothing else.

    Profile photo of InstepInstep
    Participant
    @propertyinvestorqld
    Join Date: 2015
    Post Count: 3

    I have properties that were damaged by the cyclone that hit Rockhampton area in February of 2015. It is now 7 months later, and Terri Scheer is still delaying payment. They have been rude, arrogant and do not reply to phone or email in reasonable times. The claims person is always not available. One trick was to call me after 5pm. I missed the call, but called back immediately on three occasions and got the Suncorp after hours message. Then not available the next day.

    I have now entered into the FOS (ombudsman) system because I am so pissed off.

    Their very first communication was to try and avoid being liable – they demanded 2 years of property inspection reports (which we had available), then took months to go the next step. The contractors in the Rockhampton area will now not even respond to requests for quotes if it is TSI.

    They are fully owned by Suncorp – like many of the other insurance brands out there. I went with them because they were recommended by my property manager – who now says to AVOID Terri Scheer. Apparently even Suncorp is better.

    If you have a problem with them use https://www.fos.org.au/ and maybe they will eventually improve. Don’t wait as long as I did.

    They may be all right for chasing some lost rent (???) – but do not rely on them for property cover.

    Profile photo of Landlord deAlwisLandlord deAlwis
    Participant
    @sanoj54
    Join Date: 2017
    Post Count: 1

    Just my opinion

    I do think Terri Scheer gives commission to property management companies that push them, The reviews online about Terri Scheer are quite unappealing. But its known that people are quick to criticise and slow to compliment. However they are backed up by Suncorp.

    End of the day any landlord insurance company will make it hard for us to make a claim. So we have to make sure we cover everything… these are businesses that wants to make profit…so dont expect empathy.

    I am in the process of choosing between
    Property Insurance Plus – They seem to specialise in Loss of rent.

    Aami Insurance – Because I am with Aami for my other insurance policies, and good customer service and they are accessible anytime.

    RACV – Cheaper than Aami and usually has a good reputation.

    Terri Scheer – Not too sure, after reading online horror stories, need to do more research.

    Let me know if you have any recommendations? Thanks!

    Profile photo of NM7NM7
    Participant
    @nm7
    Join Date: 2010
    Post Count: 39

    What about Tica Landlord Insurance cover – http://www.tica.com.au/insurance.php
    I’ve had them for the past couple of years for 2 of my IPs but never had a reason to make a claim so far.

    Anyone else has had experience with Tica that you would like to share / make me & others aware?

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