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‘Staggering’: Sydney vacancies reach record highs

July 10, 2020Grace Ormsby

COVID-19 is continuing to wreak havoc on vacancy rates in Sydney, with vacancies up for the fourth consecutive month. ...

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top 10 agents

1

Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

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Have you experienced sexual harassment or bullying in the workplace?

Yes, I've been the victim of sexual harassment (15.8%)
Yes, I've been the victim of workplace bullying (21.1%)
No (63.2%)

Total votes: 19
The voting for this poll has ended on: April 30, 2020
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REBAWARDS Listready
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

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Streamline insurance claims this summer

09 December 2015 Sharon Fox-Slater

Most people think of summer as a sun-drenched, vacation-packed, carefree time of year, but it’s a busy time for insurance claims. So, the RentCover team has some tips to take the 'burn' out of making claims this summer.

Fire, storms and hail all hit Australia during summer, meaning insurance claims for damage and losses from severe weather events rise between December and February.

If your property, or one that you're managing, is hit by an unfortunate weather event, here are some easy steps to follow when you need to make an insurance claim:

Act to prevent further loss or damage

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Take 'reasonable' steps to prevent further loss or damage. This includes emergency repairs to windows, roofs and electrics or engaging someone to extract water and dry carpet. You may need to contact the appropriate emergency services, such as the SES, fire brigade or police, to secure your property, so keep those details in an accessible place for tenants.

Contact your insurer

It may be the last thing on your mind as you're boarding up windows or removing buckets of water, but it's worthwhile contacting your insurer as soon as possible to advise them of the situation and obtain guidance on the claims process.

Document loss or damage

It's the owner's – and sometimes agent's – duty to establish a loss has occurred when they submit an insurance claim. Take plenty of photos that clearly show the damage to the property. If you're unable to take photos, ask any repairers to take photos before they start work.

Get quotes

Most insurers require quotes for repairs before you go ahead. RentCover generally requires two quotes, but we understand that during catastrophic events this can be difficult. We may still require a second quote to quantify the claim, however, if this is required we advise you once the claim has been received.

Request a causation report

Most insurers require a causation report from the repairer that clearly identifies the cause of loss or damage. For example, if the cause of damage is storm/rainwater or hail, then the repairer needs to describe how and why the rain or hail has entered the premises.

Keep receipts

Keep receipts for any work you do yourself or materials you purchase as you may be able to claim those expenses. But be wary of 'helpful' tenants who undertake repairs, as insurance policies often do not cover repair work undertaken by tenants.

Submit your claim

Complete the required forms and attach your supporting documentation – all signed and dated.

Taking these steps will ensure your claims are assessed and processed efficiently, which minimises stress on you and any impact to your tenants.

Streamline insurance claims this summer
sharon RPM JULY
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Sharon Fox-Slater

Sharon Fox-Slater

Sharon Fox-Slater is the Managing Director of EBM RentCover, which protects more than 150,000 rental properties across Australia. She commenced a role with EBM back in 1993 and was part of the core team that helped launch one of Australia’s first landlord insurance policies into the market. She was also the first woman in Australia to complete the Advanced Diploma in Insurance Broking, and is well equipped to educate property investors and property professionals about the value of aligning with a specialist landlord insurance provider.

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