• When do additional and multiple excesses apply?

    Additional excesses apply for the following claim types: - An earthquake - Tsunami - Vandalism or malicious acts by tenant or visitor - Deliberate or intentional acts by tenant or visitor - Theft by tenant - Rent default - Accidental damage by tenant. Multiple excesses will apply when there are a number of separate identifiable events. Where there are multiple areas of damage (e.g. malicious or deliberate) and CGU cannot clearly identify each as a separate event, a common sense approach needs to be adopted in the application of excesses.
  • What is the difference between Loss of Rent and Rent Default?

    Rent Default applies when a tenant fails to pay the agreed rent and is in breach of a written, rent agreement or periodic tenancy agreement. Loss of Rent applies when your building or sections of your building suffer loss or damage and are uninhabitable. As a result, you will be covered for any loss of rent equal to the weekly amount as stated on your rental agreement or periodical tenancy agreement for up to 12-months. The most that will be paid is up to the sum insured, as listed on your schedule. Note: Rent Default and Loss of Rent are noted as optional cover; when purchased they will be included on the most recent schedule.

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