AVOID GIO Landlord Insurance AT ALL COSTS!!!
We have just evicted a terrible tenant who left our rental absolutely filthy and uninhabitable as well as leaving rent unpaid. We made two claims to GIO, one for loss of rent and one for damages to the property.
Unpaid rent first - give them their dues, they did agree to cough up some money - only after the first 4 weeks of lost rent. However my $500 XS was needed to cover a $530 loss of rent - why bother?? This one I could live with.
My damages claim was another matter. According to the assessor, all damage done to our rental was 'nor...mal wear and tear' and they wouldn't pay a cent towards cleaning or repairs. The unit was left full of filth and belongings, all cleared at my expense. 'Normal wear and tear' apparently covers ground up animal feces in the carpet throughout the entire house which required all floor coverings to be ripped up and replaced as well as all window furnishings. The entire rental required painting and after stumping up around 8 months worth of rent, we are ready to get new tenants. We are also ready to get new insurers. I'd like to see inside their assessors house if ground up animal poo is normal wear and tear......among other filth. Their customers service has been fine however and prompt. They have been very happy to ring me and tell me they aren't paying, however I have had to chase them up to have my $1600 worth of paid excesses returned to me.
I have just lodged a claim for tenant rent default for a total 30 days after tenant disappeared and left the property uninhabitable. Cockroach infestation, filthy and all belongings left behind. The Bond money will just cover cleaning costs, pest control and rubbish removal.
The claims department just got back to me to say they don't cover first 28 days of rent default and with the compulsory 500 dollar excess it was not worth proceeding with claim ! After voicing my disgust they said that is the policy. GIO do not even cover cleaning costs .
Needless to say I will not be renewing with GIO. I will now insure with Terri Scheer as the reviews seem to be very positive and property manager has recommended also.
Avoid Insuring With GIO
This is not the insurance company you want to be with if you make a claim. GIO will do everything they can to delay paying. I had to take GIO to VCAT in order to settle my claim and even there they dragged out the matter as much as possible. They fabricated the facts to reduce their payout. Nasty insurance company to be avoided at all costs. I have taken my policies elsewhere and will deal with them again. I believe AAMI is part of the same banner.
Landlord Insurance Melbourne
Scam, Bad Customer Service, the whole Book is just a SCAM, they do take your money but when is the time for a Claim , they do use their Assessor (even he came to the house and he missed one ROOM - which I had to call on many occasion and forward a photo for them to consider) to apply No Money for Return when you really needed, so the Bottom line I had the worst service ever, and now am looking to move on and go somewhere else and search for a better service, so I do not Recommend anyone to sing up with GIO, for sure you will be wasting your mon...ey and giving your money to GIO for them to be more richer... I need for everyone to consider this matter, and Do Not Sing UP with this Insurance Company as they Just a SCAM, MONEY Makers with No Service to Provide, even some of the Consultant are Rude, and in few occasions they do hang up on ya...
Unlike GIO car insurance, GIO home insurance is very difficult to deal with. Claims department is terrible. It took me about 6 months to return $450 i spent for the urgent repair GIO originally approved. When you talk to the front line you have got meaningfull answers, but when you made a claim, there is another story.
Verry messy and unprofessional when dealing with claims.
Questions & Answers
Is there anyone that is good for landlord insurance? I can't find any good reviews
am still with them,still they the cheapest, for me am not concern about anything else other than the building insurance just in case of the whole place go on fire or something similar , I heard the best are www.terrischeer.com.au/LandlordIns, however I haven't tried them and they not cheap, so you are right it is hard to find a decent investor Home & Contents Insurance, they all happy to take your money but then you need them , they will start count every penny before can give you anything back.,just they are money makers and none else, the best thing is to find the right Tenant (how am not sure , you got a be lucky), now I do have a tenant with sort close to some family member and does work alot better when you know somebody, strangers is a hardcore business since Real estate agent in Melbourne they are useless also.
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