REIV Insurance Services
To access insurance services provided in association with the REIV please contact:
REIV Insurance Services: 1300 559 126
Through REIV Insurance Services you will be able to access cover in following areas:
Professional Indemnity Insurance
The REIV has entered into a new arrangement for Members for professional indemnity insurance. The agreement is between REIV and Realcover Insurance Pty Ltd, an APRA approved insurer, created by the real estate industry exclusively for real estate agents.
Who is Realcover?
Realcover is not just another insurance company, it is a captive insurance company licensed in Australia and approved by APRA. Realcover was created to exclusively insure real estate agents for their professional indemnity risks.
Why was RealCover established?
Following the collapse of HIH, professional indemnity insurance premiums for real estate agents were consistently increasing. The REIV recognised the frustrations felt by real estate agents, nationally, and sought to implement a solution that would ensure stability of a sensible premium rating for the long term. The absolute commitment from Realcover is to provide real estate agents with professional indemnity insurance with broad coverage, linked to education, training and risk management, and reasonable, sustainable pricing for the long term.
Why is it different?
Realcover believes that risk management and compliance undertaken by an agent impacts greatly on their ability to defend claims that may arise. It is on the basis of ongoing improvement for risk management and compliance undertaken by both the agent and the REIV that Realcover could sustain sensible premiums into the long term. Realcover is prepared to provide the best coverage for their clients and has removed unreasonable exclusions, such as the bodily injury exclusion in relation to property management, from their policy, which previously was standard across the board.
What does this mean?
Realcover premiums are not, and will not, be impacted by adverse economic conditions, nor will they be affected by claims within other industries. There is a genuine commitment to provide sensible premium pricing for the long term.
What happens if I get a claim?
Realcover offers a legal hotline available to you 24 hours a day. Immediate assistance is provided by qualified practitioners who specialise in the real estate industry. Together, the best way to proceed is devised and the real estate agent is kept informed and involved in the claims process.
The Benefits to REIV Members
-
Competitive long term premiums
-
Interest-free instalment payments
-
Tailor-made policy coverage
-
24-hour legal hotline
-
A dedicated, enthusiastic team of skilled PI professionals who have worked in conjunction with the real estate industry for many years
Contact Realcover for all your PI insurance needs on 1800 988 396.
Travel Insurance
Chartis
No matter where you’re going, the signs of trouble aren’t always obvious.
REIV Members can obtain a very cost-efficient travel insurance through Chartis so you can protect yourself and your holiday quickly, easily and at a great price. To obtain more information and a quote please visit their website.
Chartis travel insurance covers you against unwelcome surprises including overseas medical and hospital costs, stolen and lost luggage, trip cancellations, flight delays and more. You’ll also get 24-hour access to Travel Guard™ emergency assistance, for expert help any time you need it.
So take advantage of Chartis travel insurance and avoid landing in trouble.
Click to find out more
.