The only 'You' in CGU is 'You Sucker' (Insurance by Deceit)
I took out Landlord Insurance with CGU several years ago and of course the 'customer service' person gave me a glowing list of what 'Landlord Insurance' covered; however, because 'Rent Default' and 'Loss of Rent' was not separately defined by the 'spiel', I of course believed, as I was told that I was covered for loss of rent for the time it may take to carry out repairs damage caused by tenants. Of Course it wasn't, was it! 'Loss of Rent' was an 'option' that I had to 'choose' in the cover at the time I took it out! Of course it was! How stupi...d am I? After several years and thousands of dollars in premiums, I eventually had to make a claim, and guess what - CGU said I didn't have 'Loss of Rent' cover. Mind you, I was covered for the repairs to the 'damage', but alas, they didn't want to pay for the time the repairs were being carried out, hence thousands of dollars in lost rent was totally my liability, because I didn't 'choose' their 'option' of 'Loss of Rent' (a minimal additional cost). Well, what do you think of that? How ludicrous that an 'option' such as that would not be 'chosen' by a well informed Landlord in their cover for 'Landlord Insurance'. Really, what does 'Landlord Insurance' mean anyway? It means every event that would occur should tenants trash your property and leave you with the prospect of months to repair the place! THAT'S WHAT IT MEANS - CGU! That's why you make it so easy for 'Rent Default' and 'Loss of Rent' to be confused with each other - isn't that the truth? Never again!
Absolutely Impossible to Deal With
Our investment property's hot water service was damaged after someone tried to steal it in February. We made a claim with CGU and it is May now, still haven't got a replacement yet.
They have first requested for a quote, then came back about a month later, saying quote was not detailed enough, need an itemised quote.
When we provided that, they never got back to us. I have to physically call them up asking for the progress. Asked some stupid question which I haven't got the answer for, had to contact the plumber to get the information, when...
We have an investment property in Goodna QLD, which as most would know, was badly hit by floods recently. Thankfully, our property wasn't touched, so no claim was necessary. However that doesn't seem to matter to CGU. Our Insurance premium went from $900.00 to $4000.00. I have no time for a company that takes to red-lining through laziness and greed.
Now most customers would simply walk away, as we did - but this shameless bunch is hoping to catch a few dopes (usually vulnerable) in this 4K sting.
Greedy and Lazy
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Terrible and then some!
Leak in unit bathroom - damage to floors, whole bathroom - carpet in bedrooms and structure..... CGU advised in Oct - assesers visited 2 weeks later (finally). Early Dec still no word from CGU as to what will be covered. Each phone is met with rude and agressive response... Because of the hold up no work is permitted by body corp during the peak season which in turns means cancelling a fully booked unit for 2 months - along with the 6 weeks it has already been out of action! Totally unhelpful - do not return calls.
Nothing except how clever they are to take your money.
Where do we start - - - Everything!
We are currently fighting a claim were tenant stopped paying rent and left house damaged and unlivable, requiring new carpet, painting and cleaning. CGU are refusing to pay loss of rent as state that we could have re rented house minus main bedroom not carpeted and in filthy state. They have also denied claim for malicious damage of carpets/walls. Also extremely slow and unhelpful claim started 3 months ago and we have to call each week to chase up.
Questions & Answers
I would like to go ahead with Landlord insuranc.
I have read the CGU product disclosure statement and would like to clarify the following:
1. I have an large room under the rented house which will be Locked with a secure padlock. The tenants will not have access to this room. The room contains two small leather couches, several pieces of furniture, corded and battery operated power tools (domestic use only), assorted lamp shades, pictures and wall hangings ect.
Will these things be covered for damage by fire, theft, damage by tenants or other any unknown people?
2. The rest of the house is rented as fully furnished.
Does Accidental Damage Cover accidental damage to furniture by the tenant?
We have a dining table that converts to a pool table. If the tenant damages this as a result of an accident and it is not deliberate or malicious will it be coved under this policy.
3. If a tenant accidentally puts a large hole in a plaster wall will the repair be covered under the policy?
4. If several things are damaged accidentally by the tenant, is a seperate excess payable for each claim or would only one excess be payable for multiple claims made at the same time.
I appreciate you help in this regard to these questions and am hoping to insure my assets with CGU
My suggestion is that you should go direct to CGU or your broker and ask them. Best to do it in writing. No one else can give you advice on this, and if they did you could not rely on it in court in any event. Always a good test. They should let you know pretty quickly.
Hi Adam, as Sara has mentioned - it's not that we can't give advice but your questions are specific to our product that unfortunately is the one product we aren't trained in through this team. I do suggest contacting us on 132-481 and have the team that are trained go through the cover with you. Alternatively you can have a read of our PDS by heading to https://www.cgu.com.au/sites/default/files/media/personal/pds/cgu_landlords_residential_insurance_policy_0319.PDF. ~Natalie
Don't consider CGU, or any broker that would willingly set you up for a fall with CGU or IAG they will find an excuse to deny your claim & you will find your not covered for anything!
Why does this site request your policy number when you make a review. Will that be revealed to the company. Where is the respect for peoples privacy!!
Hi Ms Anonymous,
Georgia from ProductReview here! We request that number to authenticate your review. This is not given to anyone and is used for our records only. It will not be displayed to the public to see nor will it be revealed to the company. We take our users privacy very seriously and will not provide your personal details to anyone!
I no longer have insurance with CGU because of their deception. I'll have to search through archived documentation to get the policy number. Send me another email in about a week to give me time to find the policy document. Regards,
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