Ensure that your quote provides complete cover
I received a quote for Landlord Insurance that was very competitive but after reading Budget Direct reviews rang them to double-check that I had cover if the tenant caused damage. Finding that I did not I asked for another quote to cover this aspect and discovered that it would be an extra $550. As a result it ended up not being much of a saving so I stayed with my old insurer. When I rang Budget Direct the assistant was very helpful but my advice would be to always double-check that you actually have the cover that you need.
Cannot understand the operator on new policy line and when transferred to claims they did not answer
rang them for a quote today and the male who answered had such a thick accent I could not understand him he said his name 3 times and each time I could not catch it, I asked what him about what excesses would be payable if a tenant run away without paying rent or done malicious damage to the property and he could not answer me even after putting me on hold for a long time, eventually, I said perhaps you should transfer me to your claim department where they deal with things like this daily and he did transfer me and I waited for about 15 minutes before hanging up in disgust as they did not want to answer the phone but the line to create a new policy had plenty of people answering but I could not understand the one I spoke with
This seems to be a good fit and cost for my limited budget
Policy looks to be good value and not too difficult to set up. I will know for sure after I make a claim, if I ever need to, and see how well that is processed.
The reviewer stated that an incentive was offered for this review
Great experience taking out insurance on the phone
Easy to deal with, Great value for equivalent product when compared with competitors, even had a laugh as we worked together to complete the application, the phone caller had an excellent telephone manner
Find a different insurer
A tennant renting my property caused 25 thousand dollars worth of damage. Budget direct called it malicious damage (which was not in the cover) and refused to pay out.
Budget direct covered very little insured events. Read the product disclosure statement very carefully before taking out insurance with them. Very disappointed with budget direct and also a little confused why so many people have given them a high rating as many other insurers give better cover for a lower cost.
Yes I when I enquired about a quote on line it was very easy, straight forward & a very competitive price so decided to go ahead & secure the house & contents insurance for our rental property with Budget Direct. We’re saving $30 per month from our previous insurer.
"System" wouldn't allow to change the date!
So.. I called budget direct to include Landlord cover on top of my existing prepaid home insurance. Mistakenly I mentioned the effective date one month in advance. However I realised it within the same call and asked the guy to change it and start one month earlier. He said he cannot change it be cause "System" would not allow him!
So the exact options he gave me were:
- Cancel my current policy and take up new one effective today. But the old policy will only get cancelled one month later as "System" would not allow him to make any changes since I requested change effective one month later. So essentially I will need to pay for same insurance with same company for same month twice!
- I do not get landlord cover for one month
or...- I pay $40 cancellation fee So basically customers are left in deadlock because of "System". I would recommend to stay away from them as this experience is when I am trying to buy the policy! Can't imagine their claims process determined by "System"! Since this I have cancelled my all insurances with them! Surely bit cheaper than others but you get what you pay for!
These Guys are Bad. Buyer Beware!
Purchased landlord insurance over the phone to cover property, loss of rent etc and all was well until I made a claim. I had a government tendency agreement in place with my tenants as is the law in WA and all was by the book. Tenants missed lots of rent and damaged the property. I had signed before and after photos for evidence.
As an excuse for not paying these crooks used a term “Excludes loss or damage caused by you, a household member or someone who entered the home with your consent”.
In other words tenants are invited guests.
Well drrr “landlord insurance” sure you are going to have tenants.
Going to contact the ACCC anyway.
Sales staff chap treated me like family and set up my needs.
Policy was the best value around and with the assistance from the easy phone conversation it was set up in no time. Would recommend budget to anyone
that's after a landlord policy. Thanks budget. Roymarshall
We are not charging you an excess but we will not pay you any money as it is less than the excess???
Having battled for almost three months now to make a claim on landlords insurance I was told malicious damage would be one claim and loss of rent another (all from the same situation) We had to pay $2900 excess as not only one months rent was excess but also the additional $500 excess from a standard policy??After arguing that writing on walls, paint thrown around the house and juice bottle smashed on floor to ruin floorboards was malicious and not general wear and tear, Budget agreed to pay out some of the malicious claim and said we would not...be charged an excess for loss of rent (over $5000) But as the 4 weeks bond (which was used to clean the house, change locks, repair other damage not considered malicious) is not included we were expecting at least something to help cover over 8 weeks lost rent - but budget say as the amount is not more than the excess they will not pay us anything -You said you weren't charging us an excess???? After going round in circles, the Budget representative said 'we are not charging you an excess, the claim is less than your excess so we will not pay, am I not making myself clear?' Yes, you are perfectly clear - you are charging me an excess again!! Absolute rubbish, will never recommend them to anyone and am making sure I tell everyone how ruthless through the whole traumatic ordeal
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Questions & Answers
I've had a very competitive quote from Budget Direct for Landlord Insurance and am considering switching from my current insurer. I note, however, that negative reviews on Product Review all seemed to be related to Landlord Insurance and one of them maintains that Budget Direct doesn't pay for repairs caused by a tenant's malicious damage on the basis that this is excluded because the cover doesn't include anyonet invited onto the premises, i.e. the tenant.
Is this correct?
Hello Peter, what you have stated is correct. There’s an option to cover items such as malicious damage by tenants, it costs a bit more but mandatory of course. Overall still competitive, albeit a bit sneaky of them to make this an option when that’s really the crux of landlord insurance.
Thanks for the confirmation Arnold. I've phoned them this morning and they have confirmed that, if you want the full Landlord cover, you need to pay extra. In my case the revised quote for full landlord insurance was $600 more than their initial quote.
They would save their potential customers and staff a lot of wasted time, not to mention their own reputation, if they made their initial quotes much clearer about the omissions.
Under landlord insurance, Is the home insurance same as building insurance?
Budget Direct mention only as home insurance in the website, I am confused now:(
Also, while getting an online quote, I didn't see the excess amount info.
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