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Honan Real Estate Insurance

Honan Real Estate Insurance

2.7 from 7 reviews

See the Best Landlord Insurance in 2019 as rated by Australians on ProductReview.com.au.

Perfect Service

Been using for a number of years now and can say that Honan are nothing short of sensational at handling claims; efficient service and experienced staff to give you the best advice!

Insurance claim madeYes

Great Claims Service

I recently had a claim for rent default and damage to my investment property, which was settled quickly and efficiently by the team at Honan. I would highly recommend their landlord insurance product.

Insurance claim madeYes

Amazing personalized service each and every time

I have been dealing with the Honan's Team most days with new business through my agency. If I could rate them higher I would..if your investor, business owner looking for insurance or know anyone please contact them... Chris and Levlia in Brisbane Office AMAZING!!! Words don't describe them enough of thanks...

Insurance claim madeYes

Horrible landlord insurance company

I had a terrible experience with Honan group landlord insurance. Similar as another lady who wrote comments here, they pointed out the vanity broken in the unit belong to strata insurance. Once I call strata insurance they said vanity is not fixture and fixed to the building so its not part of strata building insurance.

I called them Honan another time and dealt with another claim officer who said that I could claim it back after all my explanation.. I prepared all paper works, claim form and send to another lovely claim officer who turned me down that these items could not be claimed. So, I asked her " what includes in the landlord insurance, what items I can claim. She responded " for example painting,. there are lots of things which I can not list out".

I got angry and disappointed for this kind of service and response due to
- the policy is not transparent and clear, mislead consumer
- the claim officers do not understand the policy well and consistently as two people told me to do different things

Overall, is not worth money to buy this insurance and their service. I cancelled the landlord insurance policy from here. such a rip off

Insurance claim madeYes

Do not go with Honan's Landlord Insurance

I made the mistake of listening to my previous property manager who recommended Honan's and took up the insurance. When my tenant left, there was some kitchen benchtop damage which comes under the landlord insurance, so I wrote to them, they insisted that it's only covered if the strata management insurer declines to cover, I wrote to strata and they dismissed this as not relevant at all (the bench is part of the kitchen revolution done a few years ago not strata's responsibility) so i went back and forth with Strata and Honan's insurance. Finally I managed to get a written statement from Strata Insurance to say they don't cover the benchtop, then Honan's send me their claims form, which states the claim must be made within 30 days of the property being affected, which is a really short timeline, and in my case was way past that time, due to Honan's insisting that the item doesn't come under their policy.

Do Not go with this Insurer for anything!

Insurance claim madeYes

Agree with disgruntled

Referring to "Disgruntled" review of Honan Real Estate Insurance.
They are in partnership with real estate agents who provided them with continuing clients
from which Honan, as broker and the real estate agent both derive ongoing fees from the many policies
taken out for property owners.
The quotes that Honan gives have been found consistently to be significantly higher than if one approaches insurance companies directly (preferably ones that Honan do not have an arrangement with).
If a claim is to be made and rejected by the insurer, it has been found that Honan (and the real estate agent) act only as a post office, forwarding communications with no advice or assistance.

In partnership with real estate agents to maximise profit for themselves.

1 comment
Its better to cut out the brokers and deal with insurer direct---both only have an interest in themselves.

Go elsewhere!

Last year (2012) I rented my recently renovated house to a young professional family, recommended to me by Ray White Rockdale. I took out Honan Landlords Insurance (underwritten by the Guild Insurance) and paid the premium outright, directly to Honan’s.

A couple of months later, the professional family suddenly became tenants from hell when the husband bashed his wife and she took an AVO against him. She then decided that this incident entitled her to stop paying me rent and leave her belongings in my house while she moved to a refuge. Paying rent there instead. To cut short a long and unpleasant story with the tenant and Ray White Rockdale, I managed to force the tenant out of my house 3 months into the lease. She left it 2 days after I exchanged Contracts of Sale on the house. Helping herself to some of my belongings that Ray White Rockdale property manager didn’t bother to list on the inspection report. The house sale was finalised 5 weeks later, during which time the house was empty and I was losing more rent needed for the mortgage payments.

I’ve informed Honan Landlords Insurance of the situation and was advised to put in a claim for the 5 weeks loss of rent and stolen items. I filled in their simple form, clearly stating what I was claiming. I also advised them that in the first instance, I was hoping to recover my losses from the tenant or Ray White Rockdale in CTTT hearings. No resolution was achieved in the conciliation hearings and the follow up ones were rescheduled to the new year, 4 months later.

During this extremely stressful time, I dealt with 7 various people at Honan’s. I provided them with information requested by the Guild Insurance, their underwriters. For some reason, these people could not/would not understand my simple claim, documented on their simple claim form. Apart from the many emailed explanations and supporting documents that I kept sending a number of times while they kept getting “lost”, I also had numerous telephone conversations with most of them. Explaining again and again what I was claiming.

The CTTT hearings were over in March this year (2013). I wasn’t able to recover my financial losses from the tenant or Ray White Rockdale. I informed Honan’s and pursued my claim through them. When the Guild Insurance’s claim specialist declared my claim invalid because I didn’t advertise the property for rent (for the five weeks while it was being sold!), a customer service officer from Honan’s undertook to assist me with the claim.

It took him another 4 months to document all my dealings with Honan and the Guild Insurance to persuade them to award me the 5 weeks lost rent. I had to resend some documents for the third time as the Guild Insurance claimed they weren’t received until July! Since my stolen belongings weren’t documented on the inspection report, I was not entitled to claim them.

As soon as I was informed of the Guild Insurance’s decision, I contracted a life threatening illness, no doubt exacerbated by the enormous stress I experienced during the past year. I spent a few weeks in ICU. When I returned home, I searched my accounts for the insurance refund. It was nowhere to be found. I informed Honan of this at least 3 times. They finally traced it to Ray White Rockdale account! Somebody in the Guild Insurance decided to transfer it there, 9 months after my house was sold. Not only without my knowledge and permission but also without any reference to me! For a month, my refund sat in Ray White Rockdale’s account earning them interest until I claimed it upon my return from hospital, again involving a number of people. An interesting fact to note was the Guild Insurance’s and Ray White Rockdale’s ability to sort out this problem within 24 hours! When to this day Ray White Rockdale refuses to take any responsibility for the problems they caused me with the tenant and all my subsequent financial losses. And when it took the Guild Insurance “only” 9 months to process my very simple claim!

I recently lodged a complaint with the Financial Ombudsman against the Guild Insurance and requested compensation suggested by my solicitor, for the way I wasa treated with respect to my claim. For my wasted time and the stress my dealings with them caused me. Unfortunately, the Financial Ombudsman’s compensation terms are limited to a maximum $3000 that would not cover my losses with regard to my claim. The Guild Insurance informed me they “don’t pay for pain and suffering” and will therefore not be responding further to my compensation claim. Not a word of apology from them either!

After a year of unpleasant dealings with exceptionally incompetent and unprofessional staff at Honan and the Guild Insurance, I have now severed all my association with them. Because of my experiences, I DO NOT recommend Honan Landlords Insurance (underwritten by the Guild Insurance) to anyone and will never deal with them again.

Very poor service, unwillingness to help

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Honan Real Estate Insurance
CategoryLandlord Insurance
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