Who's eligible for a Terri Scheer landlord insurance policy?

According to Terri Scheer's Target Market Determination (TMD) document, this product is suitable for: Some policies are suitable for landlords who have their properties professionally managed, and other policies for landlords who self manage their properties. Those who have a long term or permanent tenancy in place. Those who have a home that meets underwriting criteria like having a residential rental property situated on up to 5 acres of land, not primarily used for business, is occupied in an acceptable way, and that the property is maintained.

How do I make a claim?

In the event of a claim, you should contact Terri Scheer as soon as you are reasonably able. For certain claims, such as theft of property worth more than $10,000, you will need to have additional information, including a police reference number, before you can lodge a claim. You will generally need to provide evidence of loss, such as proof of how much rent a tenant pays, or evidence of damage.

Terri Scheer Landlord Insurance Review 2026

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Terri Scheer offers both landlord and building insurance, and you may be able to combine them on one policy.
Their policies provide coverage for tenant damage, loss of rent and legal liability.
Be aware: the online discount available may not be as high as some other insurers' offers.

Our Verdict

It's good if you want a trusted and comprehensive insurer. Terri Scheer has specialised in landlord insurance since 1995, and its policies are issued by AAI Limited trading as Terri Scheer, part of the Suncorp Group.
It's good if you want residential building insurance as well — you may be able to combine cover on one policy.
Its 5% online discount isn't market-leading — Budget Direct and St. George all offer more off.

_{Review by our insurance and innovations editor Gary Ross Hunter}

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Finder Score	Tenant Default and Damage	Accidental Damage
Not scored yet Terri Scheer Landlords Contents Insurance	Not scored yet	The reasonable rental amount for up to 6 weeks	30 days	View details Compare product selectionCompare	loading
8.3 Great Terri Scheer Landlord Insurance	8.3 Great	The reasonable rental amount for up to 52 weeks	30 days	View details Compare product selectionCompare	loading
Not scored yet Terri Scheer Landlord Building Insurance	Not scored yet	The reasonable rental amount for up to 52 weeks	30 days	View details Compare product selectionCompare	loading

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Finder Score for landlord insurance

Finder Score assesses more than 40 home and contents landlord insurance products for their price and features, assigning each product a score out of 10.

Read the full methodology

What cover options do I have?

The two cover types available are:

Landlord Insurance. General protection to cover furnishings, tenant default or unpaid rent for other reasons, and a range of miscellaneous events. Landlord cover also insures the building against damage caused by tenants.
Building Insurance: Insurance to cover damage to the structure and fixtures, as well as subsequent loss of rental income, resulting from weather events and other hazards.

You can take out just one or the other, or you can take out both covers together. Here's some more information about those categories of insurance, to help you decide what you need.

What does Terri Scheer's Landlord Insurance cover?

Terri Scheer's Landlord Insurance covers you for tenant-related risks like loss of rental income and damage to your property by tenants.

Terri Scheer offers two different types of landlord cover:

Long stay rental cover. Designed for properties being used as extended rentals. Available for self-managed properties, as well as landlords who use a property manager.
Short stay rental cover: Designed for short-stay properties such as holiday home rentals. Only available for landlords who use property managers.

Each type of Terri Scheer Landlord Insurance policy covers similar situations, but the payouts and insured events vary, with regard to:

Loss of rent
Building and contents
Legal liability and tax audit

Let’s briefly review each of these.

What's covered?

Loss of rent

This covers your lost earnings when a tenant doesn’t pay rent, whether it’s because they won’t or they can’t.
Insured events include:

Tenants not paying rent. Whether it’s because they absconded, were evicted with outstanding rent, got a court-ordered hardship exemption or passed away, Landlord Insurance can help cover loss of income from unpaid rent. For short-stays, this generally only covers lost rent in the event of tenant’s death.
Untenantable properties. If a property cannot be rented out following an insured event, cannot be accessed because of damage to a nearby property, or if a previous tenant refuses to vacate, you can get covered for lost earnings.

If you are managing your own property, Terri Scheer Landlord Insurance can also help cover approved legal expenses incurred while trying to claim rent owed.

Building and contents

This section of the policy can insure your building and contents against damage caused by tenants or their guests.

It also insures you against environmental damage, for example from fire and earthquake, but for contents only, not the building itself. You will still need to consider the separate Building Insurance policy for more complete cover.
Contents specifically refers to:

Portable household goods and appliances, like kitchenware or whitegoods
Furniture and furnishings
Curtains, blinds, carpets and floor rugs, except rugs that are permanent
Floating timber floorboards, that are not affixed to a sub-floor
Above ground pools
Manchester and linens (only if you are managing your own property)

If the insured contents are damaged by an insured event, landlord insurance can cover the cost of damage.

Legal liability and tax audit

You are covered for up to $20 million of legal liability costs if you, as either the landlord or property owner, are legally liable for someone’s death, injury or property damage. This includes legal expenses, or amounts recoverable from you.
A range of specific conditions apply, for example if you are held liable for a tenant’s illness as a result of asbestos on the property.
You can get covered for professional expenses incurred in responding to a tax audit of the insured property. This specifically refers to audits carried out in relation to the lodgement of a tax return.

Contents can be insured against events, including:
Accidental damage and pet damage
Deliberate damage or theft caused by tenants, their guests or unknown persons
Earthquake
Flood, rainwater, storm and lightning
Impacts
Fire, explosion or scorching
Electric motor burnout
Storm
Under the Landlord Insurance policy, the building itself is also insured against accidental damage, pet damage, theft and deliberate damage caused by tenants or their guests.
There is no cover under this policy for damage resulting from tidal wave or tsunami, and contents kept in the open air are not insured for damage caused by storm or rainwater.
Certain items cannot be covered under this policy, such as:
Manchester and linen - if you have a property manager
Cutlery and crockery
Computers
Cameras
Electronic data
Tools of trade or commercial stock
Pets or other animals
Most landscaping, such as lawns, gravel or any plants except potted plants
Clothing or jewellery
Antiques, except furniture
Sporting goods
Documents of any kind
Artworks valued at more than $1,000 each
Hand woven rugs or carpets
Vehicles of any kind, including watercraft or bicycles

What does Terri Scheer's Building Insurance cover?

Terri Scheer Building Insurance is a lot like standard home insurance, except it can also pay for the resulting loss of rent after insured events.
There are three parts to the Building Insurance:

Damage cover. Following an insured event, this pays out to cover the damage or loss, up to the sum insured.
Loss of rent: Following an insured event, pays out to help cover loss of earnings from the property being untenantable.
Legal liability: The same type of liability cover as you can get with the Landlord Insurance, with up to $20 million for your legal liability as the property owner or landlord.

What events am I covered for?

Insured events under your Building Insurance include:

Accidental loss or damage
Earthquake
Fire or explosion
Flood

Impact
Storm or lightning
Malicious damage, theft or vandalism
Escape of liquid

There is no cover for actions of the sea, tidal waves or tsunamis under Terri Scheer Building Insurance, and conditions may also apply to specific events.

How you’re covered for loss of rent

If a building is untenantable for a period of at least 7 days after one of the following events, you may claim for lost rent.

Malicious damage by unknown persons
Theft
Fire or explosion
Lightning
Earthquake
Riot or civil commotion

Water or oil leakage
Impact
Flood
Storm or rainwater
Accidental glass breakage or electric motor burnout

The conditions are slightly different depending on whether it’s a permanent tenancy or a holiday rental property.

Permanent tenancy. Up to 52 weeks worth of lost rent until the property becomes tenantable, a new tenancy commences, or the policy limit is reached, whichever comes first. The amount paid is determined by the lesser of either the current tenant’s weekly rent or the weekly rent sum insured, multiplied by the relevant number of weeks.
Holiday rental. Up to 52 weeks worth of lost rent, to a maximum of $50,000 per period of insurance, until the property becomes tenantable, a new booking commences or the limit is reached, whichever comes first. The amount paid is determined by the value of unpaid or returned rent or deposits, or the relevant shortfall compared to the previous year.

What kind of exclusions are there?

The exact conditions and exclusions vary between building and landlord insurance, between different types of rental property and for certain claims.
Generally:

You should take all appropriate steps to prevent further damage or loss, and to restore your property to a tenantable state as soon as possible.
You should keep Terri Scheer informed of any relevant situations, and let it examine or access insured property as needed.
Some types of cover are only available to you in your capacity as a landlord. For example, there is no cover for theft caused by non-paying guests and your policy may not be active if you are residing in the property, or it is vacant and you are not looking for tenants.
Waiting periods may apply. For example, you may not be able to claim for a tenant default if you took out the policy after that tenant was already in arrears.
You will need to use up the entirety of the bond, where applicable, before you can claim on insurance.

General exclusions also apply. Usually, there is no cover for:

Acts of war
Actions or movement of the sea
Erosion, subsidence, landslide or mudslide, except as the result of another insured event such as a storm or flood
Loss or damage resulting from your tenant’s poor housekeeping, except as explicitly covered by the policy

Rust, mold, mildew, wear and tear and similar deterioration unless it’s caused by an insured event
Damage resulting from tree roots
Reptiles, under pet damage cover
The tenant using the premises for trade, manufacturing or childcare with your knowledge, or you using the premises for any business, other than in your capacity as the landlord

What's the excess like?

The excess payable may vary depending on the claim, the type of policy, your location and the standard excess chosen by you.
Where you are able to choose your own excess, you may select a higher amount for lower premiums, or a lower amount for higher premiums.
Terri Scheer reserves the right to raise the excess in certain situations, such as based on your claims history, location or in other unusual circumstances.

Short stay and managed Landlord Insurance excess

Loss of rent, tax audit, lock replacement, removal of goods and representation costs: $0
Short stay and managed Landlord Insurance excess- Loss of rent: The amount shown on your certificate of insurance (some additional benefits may have no excess)
Earthquake: $200
All other claims: $100

Self-managed property Landlord Insurance excess

Loss of rent: 1 week’s worth of rent
Self-managed property Landlord Insurance excess- Loss of rent: The amount shown on your certificate of insurance
Earthquake: $200
Replacement of locks, bailiff/sheriff fees and removal of goods: $0 (as additional benefits)
All other claims: $100

Building Insurance

Malicious and accidental damage: Your choice of $250, $500 or $1,000
Building Insurance- Building damage: Your choice of $500 or $1,000
Loss of rent, liability and certain other benefits: $0
Other claims: $100 per claim

Terri Scheer landlord insurance FAQs

According to Terri Scheer's Target Market Determination (TMD) document, this product is suitable for:
- Some policies are suitable for landlords who have their properties professionally managed, and other policies for landlords who self manage their properties.
- Those who have a long term or permanent tenancy in place.
- Those who have a home that meets underwriting criteria like having a residential rental property situated on up to 5 acres of land, not primarily used for business, is occupied in an acceptable way, and that the property is maintained.
In the event of a claim, you should contact Terri Scheer as soon as you are reasonably able. For certain claims, such as theft of property worth more than $10,000, you will need to have additional information, including a police reference number, before you can lodge a claim.
You will generally need to provide evidence of loss, such as proof of how much rent a tenant pays, or evidence of damage.

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.

Thank you for your feedback!

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2 Responses

BradJanuary 30, 2018

Does TSI content insurance cover damaged fixed electrical appliances which do not have an electric motor i.e. electric oven (heating element), air conditioner (compressor/control circuit), hot water system (heating element)?

ArnoldFebruary 2, 2018

Hi Brad,

Thanks for your inquiry

To answer your question, Yes, Portable household goods and appliances like kitchenware or whitegoods such as electric oven and airconditioners are covered by Terri Scheer’s Landlord Insurance. Alternatively, if you are looking to compare other options you may check them on the landlord insurance homepage. https://www.finder.com.au/landlord-insurance

Hope this information helps

Cheers,
Arnold

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