Terri Scheer and CGU Comparison

The Terri Scheer Landlord Preferred Policy provides landlord insurance for investment properties that are professionally managed (either by a licensed real estate agent or property manager)

To help you understand what’s changing, we’ve prepared a side‑by‑side comparison of the key features, benefits and limits of each policy. Use the table below to see how your existing CGU landlord insurance compares with your new Terri Scheer cover, so you can feel confident about the protection on your investment property.

The key differences in Landlords cover between Terri Scheer and CGU are:

Policy Improvements	Expiring CGU Cover	Terri Scheer Building Cover	Terri Scheer Landlords Preferred Policy	Coverage Impact
Contents Sum Insured	Up to $50,000 with no option to increase further	Not Applicable	Up to $70,000 with options to increase up to $110,000	Higher limits provided
Loss of Rent	Up to $50,000 with no option to increase further	Nominate weekly rent required	Automatically provides up to $1,500 per week with options to increase higher	Higher limits provided subject to rent amount noted in lease agreement
Rent Default / Loss of Rent	Absconding Tenant up to 6 weeks	Not Applicable	Absconding Tenant up to 20 weeks	Higher limit provided
Rent Default / Loss of Rent	Defaulting Tenant up to 15 weeks or $12,000	Not Applicable	Defaulting Tenant up to 20 weeks	Higher limit provided
Rent Default / Loss of Rent	Defaulting Tenant by termination notice or court order up to 15 weeks or $12,000	Not Applicable	Defaulting Tenant by termination notice or court order up to 20 weeks	Higher limit provided
Rent Default / Loss of Rent	Failure to give vacant possession up to 15 weeks or $12,000	Not Applicable	Failure to give vacant possession up to 28 Weeks	Higher limit provided
Rent Default / Loss of Rent	No cover	Not Applicable	Death of Tenant – up to 15 Weeks	Cover not previously provided
Legal Expenses related to Rent Default	Legal costs up to $1,000	Not Applicable	Legal costs up to $5,000	Higher limit provided
Representation Costs	No cover	Not Applicable	Representation costs up to $500 + Engaging bailiff/sheriff $300	Cover not previously provided
Unoccupancy	Period 60 days	Period 90 days	Period 90 days	Higher limit provided

Further key differences between the expiring CGU policy and your new Terri Scheer offer include:

Section	Expiring CGU Cover	Terri Scheer Building Cover	Terri Scheer Landlords Preferred Policy	Coverage Impact
Electric Motor Burnout	Electrical motors to 15 Years old	Electrical motors to 7 Years old	Electrical motors to 7 Years old	Lower age provided
Escape of Liquid from Shower bases, floors or cubicle walls	Covered	Excluded if no waterproof membrane fitted	Excluded if no waterproof membrane fitted	Minor restriction in cover based on exclusion condition
Loss of Rent – start of indemnity	No minimum untenantable period	Minimum 7 days untenantable period before indemnity commences	Minimum 7 days untenantable period before indemnity commences	New policy requires minimum 7 days before cover provided, however once the 7 day minimum is met full cover is provided
Rent Default due to Hardship	Covered up to 6 weeks	Not applicable	Covered up to 4 weeks	Minor restriction in cover based on reduced weeks
Loss or Damage to Retaining Walls	No specific event exclusions	Excludes damage caused by Flood, Storm, Rainwater & Accidental Damage	Not Applicable	New policy more restrictive
Loss or Damage due to Cleaning	Excluded except if caused by domestic household chemicals	Total exclusion	Total exclusion	There is no cover for use of domestic household chemicals
Escape of Liquid	Covers cost to repair item that caused liquid to escape	Excludes cover for the cost to repair or replace the item that caused liquid to escape	Excludes cover for the cost to repair or replace the item that caused liquid to escape	No cover provided for repair or replacement of item that caused liquid to escape
Loss of Land Value following Building Damage	Covered within sum insured	No cover mentioned	Not Applicable	No apparent cover included
Loss or Damage or Liability from Squatters	No specific exclusion	Excludes Loss or Damage from squatters or trespassers that are using or staying at the insured address	Excludes Loss or Damage from squatters or trespassers that are using or staying at the insured address	More restrictive cover