Terri Scheer building insurance: what each policy covers, and who underwrites it
3 building policies from Terri Scheer. For each: how the building is valued, whether flood and accidental damage are covered, and what happens once the building is left empty, with the sentence from its own documents. Underwritten by AAI Limited.
- Website
- terrischeer.com.au/
- What it is
- Brand
- Listed on
- Houses and rental properties
- Underwriter
- AAI Limited
- APRA
- Authorised by APRA to write new general insurance (listed as AAI Limited)
Building policies
Terri Scheer Landlord Preferred Policy (landlord and contents; building cover limited to tenant events)
- Type
- Landlord · Residential
- Sold
- Direct or through a broker
- Building valued as
- Not stated
- Flood
- Not covered
- Accidental damage
- Not stated
- Left empty
- No cover after 90 days. You must tell the insurer. Applies to loss of rent, contents and tenant-damage cover. Unless agreed beforehand (then a higher excess). No cover at all if vacant with no effort to re-let.
- Who it is for
- Landlords of professionally managed residential rental property with a long-term tenancy; not for self-managed, short-term/holiday or owner-occupied properties (a separate Self Managed policy exists).
- Documents
- Landlord Preferred Policy PDS (policies commenced or renewed on or after 10 August 2024) (10 August 2024) · Landlord Preferred Policy TMD (updated 27/06/2025) (27 June 2025) · Policy documents index
- Building cover is limited to tenant-related events (pet damage, scorching, tenant damage); fire, storm, flood and escape of liquid damage to the building are NOT covered by this product and need a separate building policy.
- Contents cover includes flood, but no bushfire, storm, flood or tsunami cover applies in the first 72 hours of the policy.
The policy
“Covers your rental income and investment by insuring for selected tenant-related risks, including loss of rent and tenant damage to your property and contents.”
Source: terrischeer.com.au/ · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“distribution of this Product must be conducted through our policy administration system through the following distribution channels: – websites; – contact centres; – approved Real Estate Agents and Property Managers; – approved Mortgage Brokers, Financial Planners, Developers and Buyer’s Agents;”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-tmd-landlord-preferred-policy-270625a-lr.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“building cover for loss or damage to the rental property during the period of insurance as a result of insured events specific to tenants occupying the rental property, limited to pet damage, scorching and tenant damage;”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-tmd-landlord-preferred-policy-270625a-lr.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Unoccupied means that the property was vacant for the period of 90 consecutive days or more immediately before loss or damage occurred.”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-landlord-preferred-policy-product-disclosure-statement-110724.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“Are landlords of professionally managed (either by a licensed real estate agent or property manager) residential rental property who wish to insure against risks associated with renting out their property.”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-tmd-landlord-preferred-policy-270625a-lr.pdf · Confirmed on the insurer's page on 13 November 2026.
Terri Scheer Landlord Residential Building Insurance Policy
- Type
- Landlord · Residential
- Sold
- Direct
- Building valued as
- Sum insured
- Flood
- Included
- Accidental damage
- Included
- Left empty
- No cover after 90 days. You must tell the insurer. Applies to building and loss of rent cover. Unless agreed beforehand (then a higher excess). No cover at all if vacant with no effort to re-let.
- Who it is for
- Owners of a self-managed or agent-managed residential rental house or holiday let; not strata title (unless owned by the same owner), not owner-occupied, not buildings with shared grounds or common areas.
- Documents
- Landlord Residential Building Insurance PDS (prepared 10 February 2025) (10 February 2025) · Landlord Residential Building TMD (28 June 2025) · Policy documents index
- No bushfire, storm, flood or tsunami cover in the first 72 hours of the policy (very limited exceptions).
The policy
“Cover for loss or damage to your building caused by insured events such as fire (including bushfire), storm or rainwater, flood, impact, escape of liquid, lightning, earthquake or tsunami”
Source: terrischeer.com.au/building-insurance · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“distribution of this Product must be conducted through our policy administration system through the following distribution channels: – websites; – contact centres;”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-tmd-landlord-residential-building280625b-lr.pdf · Confirmed on the insurer's page on 13 November 2026.
How the building is valued
“We won’t pay more than the sum insured for your building”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-pds-landlord-residential-ts00012-28-06-25-a.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“loss or damage to the customer’s building during the period of insurance caused by a range of insured events including flood, storm or rainwater, fire (including bushfire) or explosion, escape of liquid, and tenant damage;”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-tmd-landlord-residential-building280625b-lr.pdf · Confirmed on the insurer's page on 13 November 2026.
Accidental damage
“We cover the building for accidental loss or damage (for example, breaking or damaging a component of the building) at the insured address during the period of insurance, which is caused by you, your family, or your non-paying guests.”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-pds-landlord-residential-ts00012-28-06-25-a.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Unoccupied means that the property was vacant for a period of 90 consecutive days or more immediately before loss or damage occurred.”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-pds-landlord-residential-ts00012-28-06-25-a.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“strata title, unless owned by the same owner;”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-tmd-landlord-residential-building280625b-lr.pdf · Confirmed on the insurer's page on 13 November 2026.
Terri Scheer Scheer Short Stay Policy (Holiday Rental Insurance)
- Type
- Landlord · Residential
- Sold
- Direct or through a broker
- Building valued as
- Not stated
- Flood
- Not stated
- Accidental damage
- Not stated
- Left empty
- No cover after 90 days. You must tell the insurer. Applies to loss of rent, contents and tenant-damage cover. Unless agreed beforehand (then a higher excess). No cover at all if vacant with no effort to re-let.
- Who it is for
- Short-stay and holiday rental properties.
- Documents
- Short Stay Policy PDS (effective 10 August 2024) (10 August 2024) · Short Stay Policy TMD (27 June 2025)
- Building cover under the holiday policy is limited to tenant damage, pet damage and scorching.
The policy
“Terri Scheer’s Holiday Rental Insurance can cover landlords against tenant-related risks, including loss of rental income and loss or damage to your building or contents caused by guests.”
Source: terrischeer.com.au/holiday-rental-insurance · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“distribution of this Product must be conducted through our policy administration system through the following distribution channels: – websites; – contact centres; – approved Real Estate Agents and Property Managers; – approved Mortgage Brokers, Financial Planners, Developers and Buyer’s Agents;”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-tmd-scheer-short-stay-policy-270625.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Unoccupied means that the property was vacant for the period of 90 consecutive days or more immediately before loss or damage occurred.”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-scheer-short-stay-policy-product-disclosure-statement-110724.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“Are landlords of professionally managed holiday and shortterm rental properties who wish to insure against risks associated with renting out their property.”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-tmd-scheer-short-stay-policy-270625.pdf · Confirmed on the insurer's page on 13 November 2026.
Who underwrites and sells it
Underwriter
“AAI Limited ABN 48 005 297 807, AFS Licence No. 230859 trading as Terri Scheer is the insurer and issuer of this insurance policy and PDS.”
Source: terrischeer.com.au/assets/documents/terrischeer/terri-scheer-landlord-preferred-policy-product-disclosure-statement-110724.pdf · Confirmed on the insurer's page on 13 November 2026.
AAI Limited: licence
- AFS licence
- 230859 · AAI LIMITED
- ABN
- 48005297807
- Licensed since
- 8 November 2003
- Principal business
- Brisbane QLD 4000
- General insurance
- Licensed to deal in general insurance products
From ASIC's AFS Licensee dataset, release of 11 November 2026, Creative Commons Attribution 3.0 Australia.
Deep Almanac is a secondary source and this page is provided for general information and reference. It is not financial, investment, legal, valuation, educational or other professional advice, and it is not a substitute for checking the original source. What each policy covers and who underwrites it are read from each insurer's own documents by hand and re-checked daily, so a change can take a day to appear, and the policy wording you are issued is what applies to you. You are responsible for any decision you or your software makes in reliance on this page. See our terms of use.