Home inspection thefts inspire new insurance

Home inspection thefts inspire new insurance

A new type of insurance is created due to several cases of Home Inspection theft. If you are a Real Estate agent, please take a few moments to share this article to several of your clients. Also, let us know your thoughts do you think this is a good idea? Not?
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Home inspection thefts inspire new insurance
IMAGINE losing valuable items from your home during an open house, only to find later you are not insured for the loss.
Sydney buyer’s agent Peter Kelaher said often this was the case for both vendors and tenants.
“Once you’ve willingly invited people into your home, most insurance policies are void, and in the eyes of insurance companies that’s exactly what you’re deemed to have done when you open your home for inspection,” Mr Kelaher said.
This situation led Mr Kelaher to establish a new insurance and security service to cover vendors when they sell their home.
It’s called Open Home Insurance & Security.
One of the first to take up the new service was Channel 9’s TV show The Block 2011.
Mr Kelaher said the renovation-reality program was using the service for the show’s open for inspection days; the first of which was last Sunday when 30 security staff were on site.
“In essence, Open Home Insurance & Security is designed specifically to protect vendors, landlords and tenants during open home inspections by closing a loophole in the vast majority of standard home and contents insurance policies,” he said.
It offers two services - an insurance policy that provides cover for accidental and malicious damage, inclusive of theft, for up to $5000 when selling or leasing your property, and licensed on-site security personnel at open inspections who complete photo identification checks on every visitor entering a home.
Mr Kelaher said customers received a number of theft deterrent products, such as signs on internet advertisements advising people they may be asked for photo ID, or be under video surveillance at an open inspection plus an open home security sign displayed at the front of the property during an open inspection, advising people security personnel were on site.