Terri Scheer Insurance is one of the major Landlord Insurance specific companies used in this industry. During this unpredictable time, many tenants have had unexpected changes to their income, leaving landlords unsure of where they stand with insurance coverage.
The biggest question for most landlords already holding policies prior to and during this time has been “Does the policy provide cover if my tenant loses their job because of the COVID-19 pandemic and breaks their lease before it’s due date and vacated the property with rent owing?”
The good news is there are now clear answers as Terri Scheer have just announced a COVID-19 update for all their customers.
Currently there is still an embargo on all new policies, however they have confirmed the following: The Terri Scheer Landlord Preferred Policy provides cover for loss of rent, damage caused by tenants and legal liability subject to the terms and limits in the policy. If your tenant loses their job, gets behind in their rent and vacates the property leaving rent unpaid, there is cover.
For more information on your policy questions click on the link below.
https://www.terrischeer.com.au/covid-19/