How SPEEDHOME + Allianz Protects You

Oh no, your tenant has run off! Worse is there are outstanding bills because your tenant did not pay! Does the deposit even cover it all? Where can I report this? Can leasing get any worse?

We say no worries.

No worries about disappearing tenants and no worries about the morbid amount of bills. That is a problem of the past that we acknowledge and address!

Financial security and property security are always top concerns, which is how the traditional 3-month rental deposit before renting a house came into practice. It serves as a way to hold tenants accountable for the damage done to the house.

But, can that 3-months’ rental deposit safeguard you enough? What happens if the tenant leaves with your house damaged, and your deposit is not enough to cover it?

A Full Protection Better Than Traditional Deposits

To ease your concerns, we at SPEEDHOME have partnered up with Allianz to offer greater financial and property security. For landlords who successfully lease with us, they can get secured with Allianz up to RM42,000 for home rental (not kidding!)

We cover everything from loss of rental, inconvenience benefits, theft and more!

Note: Home insurance is only available for those who successfully transact through SPEEDHOME with rental ranging from RM500 to RM5000.

SPEEDHOME and Allianz ease your worries with our comprehensive protection plans. What are those plans? Check out below:

The Insurance Packages Offered

There are 3 different insurance protection packages offered to landlords at SPEEDHOME. Namely, Basic, Extended and Extended+. If you’re looking for complete protection of up to RM42,000 then Extended+ is your best choice.

You get rental on-time (OTR) even if your tenant pays late and you also get rental payment even if your tenant overstays in the property (OCD). To enjoy these benefits through the Extended and Basic plans, you can have them as add ons at additional costs. Refer below for the insurance packages available:

SPEEDHOME Insurance

Note 1: On-Time Rental is a feature that allows landlords to receive their rental payment on time or earlier for the entire tenancy period. 

Note 2: Overstay Cash Defender is a feature where SPEEDHOME will protect the landlord from tenants that overstay without paying rent. SPEEDHOME will pay the rent to the landlord until we successfully evict the tenant.

Note 3: The insurance cost for Extended and Extended + will be spread over the first two months.

60 Days Free Cancellation Policy

Have a change of mind? Don’t worry because you can cancel for absolutely free if you submit the cancellation request within 60 days of purchasing our insurance plan.

We will refund the full amount to your bank account within 3 – 5 working days after the cancellation request is submitted. You can submit your cancellation request through the following methods:

Remember that even without the insurance, your unit will still need to be rented out with Zero Deposit. With the cancellation, your property will continue to get rented to the tenant however your property will no longer be protected against risks such as unpaid bills, loss of rental, accidental damages, theft and many more.

Easy and Fast Claim Processes

Not only that, but we do the claiming process on your behalf. We get down and dirty so you may lease in peace.

Just do not forget to first file a police report of the incident as soon as possible and notify us within 2 WEEKS of the incident! Once done, we will then proceed with the claim process.

Think insurance claims take long? Not at all! Allianz strives to process all claims within the following timeline:

claims time period

It’s super easy to get your claims! All you have to do is follow these steps:

claims process

How Much Does The Insurance Cost?

For landlords that have tenants that are renting below 12 months, there are surcharges implemented on their total payment that can lead to you paying less for the insurance. The surcharges are as below:

Insurance Cost Landlord Has To Pay For Short Term Rental

Please note that:

  • *6%SST and RM10 insurance stamping fee will be deducted from the 2nd month’s rental.
  • **6%SST and RM10 insurance stamping fee will be deducted from the 1st month’s rental.

So what are you waiting for? Click the button below and Post your Property!

16 thoughts on “How SPEEDHOME + Allianz Protects You

  • October 19, 2020 at 4:43 am
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    WHAT ABOUT OVERDUED UNPAID UTILITY BILLS NOT PAID BY TENANT WHICH THE LANDLORD HAS TO BE RESPONSIBLE

    Reply
    • October 19, 2020 at 6:09 am
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      It is covered under insurance for up to RM2000 claimable amount.

      Reply
  • December 6, 2020 at 7:39 am
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    The insurance is pay every month or per year basis?

    Reply
    • December 7, 2020 at 1:37 am
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      It’s yearly basis ya. Let’s say if the tenant stays for only 6 months, the insurance will still be eligible for the next tenant for 6 months.

      Reply
  • January 3, 2021 at 9:50 am
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    What if there is no tenant for the next 2 months? Will the insurance be “paused” for the 2 months and resumed back once the new tenant moves in?

    Reply
    • January 4, 2021 at 6:03 am
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      Nope. However, we will help to replace a tenant for you under your consent within the 2 months period

      Reply
  • February 5, 2021 at 1:35 am
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    What if there is a break in and the tenant’s property is stolen. Will this insurance cover the tenant’s loss?

    Reply
    • February 5, 2021 at 3:19 am
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      The insurance covers accidental damage or theft coverage for the landlord.

      Reply
  • February 15, 2021 at 1:26 pm
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    How the OTR can ensure landlord can get rental earlier or on time?
    The rental is tenant paid to landlord directly or thru speedhome?

    Reply
    • February 19, 2021 at 4:02 am
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      Hello, OTR is SPEEDHOME will bank in the rental to the tenant first.

      Reply
  • March 28, 2021 at 10:01 am
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    What if Landlord have three issue regards of tenant run away, damages to my furniture and furniture stolen. Do Landlord get the three coverage or only one of the coverage of the loss of rental, inconvenience benefit/minor property damage & Accidental Damage or Theft Coverage?

    Reply
    • April 21, 2021 at 4:45 pm
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      Hey there, thank you for reaching out to us, to answer your question, yes you will be able to claim for the three coverages. If your furniture is movable you can claim under theft coverage, any damages tied structurally fall under minor damages and in the case that your tenant runs away you can claim under loss of rental. Apart from that, if there are any unpaid bills you can also claim under inconvenience benefits. However please take note that if the claims surpasses RM15,000 Allianz will appoint an adjuster. We advise you to report this problem on SPEEDHOME’s chat to get faster responses.

      Reply
  • June 6, 2021 at 9:26 pm
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    Greetings !
    The Allianz insurance services provided, is it Shariah compliant?
    Thank you !

    Reply
    • June 13, 2021 at 7:22 pm
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      Unfortunately, we currently do not offer an insurance package that is Shariah-compliant. However, we may have one soon in the future! Stay tuned.

      Reply
  • July 7, 2021 at 7:22 pm
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    1) Hi. In the event of tenant missing in action but the belongings are still in the house, how soon can I lodge the police report and ask for permission to break in and start the claiming process?
    2) What is the difference between “Lost of rental” vs “OTR” protection? For example after 3 months tenure, my tenant runaway and I still have 9 month contract..
    Under the OTR protection term, does it mean that I can still receive 9 month rental from Speedhome without renting my unit out?

    Thanks

    Reply
    • July 14, 2021 at 8:52 pm
      Permalink

      Sorry to hear that, here is how we will handle the case
      1. if a tenant goes MIA, then we will first try to contact the tenant in various ways:
      a) contact an alternate number
      b) check if they are still working with the company and reach out for a discussion
      c) send our HRN to see if the tenant is still occupying the house
      d) check with the management

      If all of the above fails, then yes we will ask the landlord to make a police report on the MIA tenant with permission to enter the house. We will follow a proper process that abides by the law.

      2) OTR is On-Time Rental. If your tenant makes a late payment due to whatever reason OTR ensures that SPEEDHOME still pays you on time every month.
      OTR is only transferred to a landlord up until two months of unpaid rental from the tenant. Example:
      If given a scenario where a tenant runs away after 3 months, we will soon away proceed with the claim so that you get your up to two months’ loss of rental covered via the insurance policy.
      The next question might be “What will happen to the Insurance Policy that I bought for a year?”
      To this we advise the landlord to continue the insurance with the following tenant and then to cover up the remaining month, the landlord can just proceed with an extension of the old insurance.

      Reply

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