Whatever you do, DO NOT take out Racv Lanlord Insurance, its the biggest rort and waste of money!! I called up several times to enquire and obtain quotes on this insurance and NEVER ONCE, was the excess mentioned. I take full responsibility that I did not read the PDS, however, all other insurance policies, for e.g car, boat, home & contents etc, including those from RACV, clearly states on the Certificate of Insurance, what your level of excess is, in the case of a claim, why is this not listed on a Lanlord Policy? We can only assume, it's bec...ause they would not like to bring it to your attention how astronomical it is!! So, if you want to claim malicious damage by a tenant, it's one months's rent, plus $500, then if you want to claim loss of rent, its another 4 weeks rent, plus $300. So if you need to claim for both, in my case, that amounts to over $4000 in excess!!! Really RACV?? Thinking this may be an industry standard, I have since contacted other insurance companies and it's clear that RACV are the biggest rip off!! I have also since been told by several real estate agents, to stay clear of RACV as they have the worst reputation when it comes to claims and have recommended two other more reputable companies. Please do your research and ask the questions regarding excess.
Questions & Answers
Sorry, there are no questions yet.
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.