Terri Scheer Insurance

Terri Scheer Insurance Review

This comprehensive review examines Terri Scheer Insurance, a leading provider of landlord insurance in Australia. We'll delve into the company's history, its range of insurance products and services, pricing structure, customer support, and overall value proposition. We'll also address common concerns and questions to help you decide if Terri Scheer is the right insurer for your needs.

Overview

Year of Establishment and Background Story

Established in 1990, Terri Scheer Insurance is a wholly owned subsidiary of the Suncorp Group, a major player in the Australian insurance market. Terri Scheer quickly established itself as a specialist in landlord insurance, recognizing the unique risks faced by property owners. This focus allowed them to develop tailored insurance policies specifically addressing those needs.

Key Milestones in the Company’s History and Growth

A pivotal moment in Terri Scheer's history was the creation of Australia's first landlord insurance policy. This innovative approach catered to the specific challenges of property management and tenant relations, addressing gaps in the broader insurance market. The company has experienced significant growth, boasting over 250,000 insured landlord properties and strong partnerships with more than 15,000 property management offices across Australia. This extensive network highlights their market leadership and wide acceptance within the industry.

Regulatory Compliance and Licenses

While specific details regarding licenses and certifications are not readily available on the company's public website, it is implied through their operational history and extensive client base that they hold the necessary licenses to operate as an insurance provider within Australia. Further information regarding specific certifications may be obtained through direct contact with Terri Scheer Insurance.

Insurance Products and Services

Main Insurance Products

Terri Scheer's core offering centers around landlord insurance, tailored to various property types. Their policies are designed to protect landlords against the financial burdens associated with tenant-related damage, liability, and loss of rental income. They offer specific coverage for:

• Residential Tenancies: Providing comprehensive protection for standard rental properties.
• Holiday Rentals: Offering specialized coverage to address the unique risks involved in short-term rentals, such as increased wear and tear and higher tenant turnover.

Their policies commonly cover:

• Tenant-Related Risks: This includes damage caused by tenants, malicious damage, and liability claims arising from tenant incidents.
• Building Insurance: Protection against structural damage, including perils such as fire, storm, and flood (depending on the policy and location). This often acts as an add-on to the primary landlord policy for enhanced comprehensive coverage.
• Loss of Rental Income: Compensation for lost rental income during periods when the property is uninhabitable due to insured events.

Additional Services

Beyond their core insurance offerings, Terri Scheer provides supportive services to streamline the landlord experience. They offer efficient claims processing through phone and email, aiming for quick resolution times. While not explicitly stated as financial advisory services, they provide knowledgeable and friendly customer support, assisting clients with understanding policy coverage and managing their insurance needs. This personalized approach differentiates them within a market often characterized by impersonal interactions.

Premiums and Pricing

Pricing Structure

While specific premium rates aren't publicly listed, Terri Scheer emphasizes that their policies offer flexibility, allowing landlords to begin coverage at any time. They suggest that starting cover immediately when a property is vacant and listed for rent is particularly advantageous. This highlights their proactive approach to ensuring continuous coverage and minimizing potential gaps in protection. For detailed pricing, a personalized quote is necessary based on the specific property, coverage requirements, and risk profile.

Discounts and Special Offers

Terri Scheer offers several opportunities to reduce premiums, demonstrating value for money. These discounts include:

• Multi-Policy Discount: A 10% discount is provided when combining Landlord Insurance with their Residential Building Insurance policy, encouraging comprehensive protection.
• Online Purchase Discount: A 5% discount is available for online applications and payment of the first year's premium, rewarding customers who utilize online services.

It's important to note that these discounts may be subject to terms and conditions. Checking the current offers directly on the Terri Scheer website is advised for the most accurate and up-to-date information.

Customer Service and Support

Contact Methods

Terri Scheer provides several avenues for customer contact:

• Phone: 1800 804 016 (within Australia) and +61 8 8205 5110 (overseas)
• Email: [email protected]

While a live chat facility isn't currently advertised, the availability of phone and email support ensures multiple options for reaching customer service. The lack of 24/7 support should be noted as a potential area for improvement. Multilingual support is not explicitly detailed on their website.

Pros and Cons of Terri Scheer Insurance

Pros

Terri Scheer offers compelling advantages:

• Comprehensive Coverage: Their policies offer extensive protection, covering various tenant-related risks, ensuring landlords are well-protected against potential financial losses.
• Specialized Expertise: The company emphasizes its expertise in landlord insurance, with team members often having relevant backgrounds in property management or firsthand landlord experience. This in-depth knowledge translates into tailored solutions for complex situations.

Cons

Potential drawbacks include:

• Limited Public Information on Licenses and Certifications: While the lack of readily available licensing details may not indicate any issues, transparency in this area could enhance customer confidence.
• No 24/7 Support: The absence of 24/7 customer support limits accessibility for urgent matters outside of business hours. While not a deal breaker for many, this could be a drawback for some customers.

Conclusion

Summary of the Main Points Covered in the Review

Terri Scheer Insurance stands out as a significant player in the Australian landlord insurance market. Their comprehensive policies, tailored to landlord-specific needs, provide robust protection against tenant-related risks. The company's expertise and industry standing are notable strengths. However, the lack of publicly available licensing information and the absence of 24/7 support represent areas where improvements could further enhance customer experience.

Recommendations on Who Would Benefit Most from the Company’s Insurance Offerings

Landlords in Australia who value comprehensive coverage and specialized expertise will find Terri Scheer Insurance a strong option. Their focus on the unique challenges faced by landlords translates to policies that address specific risks effectively. The company's reputation and market presence further bolster their credibility.

Frequently Asked Questions about Terri Scheer Insurance

For detailed answers to frequently asked questions on policy details, claims processes, and other aspects of their service, it's recommended to consult the Terri Scheer Insurance FAQ page directly. Their website provides a comprehensive resource covering common queries and providing clear explanations.

References

[1] https://www.terrischeer.com.au/our-story/

[2] https://www.terrischeer.com.au/faqs/

[3] https://www.terrischeer.com.au/contact-us/

[4] https://www.terrischeer.com.au/landlord-insurance/