What is an interested party?
An Interested Party is someone who has a financial interest in something you own. On an insurance policy, it’s usually a bank or finance company that have an interest in the property or vehicle you are insuring. Most likely, you have a loan or a mortgage on that item with them.
If you’re buying a house with a mortgage or a car on finance, the lender usually needs their name listed on the insurance certificate. If you’re the only person or entity with a financial interest you won’t need to list an interested party.
Need to change the Interested Party on your Policy?
You can change the interested party on your house insurance policy yourself at any time. Simply login to your initio dashboard and select the Make a Change option on the relevant policy. Then choose the option to change the Interested Party.
You can select the bank or finance company from our interested party dropdown list or choose “other” from that list, to nominate a party not shown. If you need to name more than one interested party, please choose the “other” option from the dropdownlist, then provide the name of both parties in the one field provided.
All changes are instant and a new certificate will be provided upon confirmation of the change. If you need to future date a change, please use the “other” field in the dropdown list, then provide the name of the new interested party along with the date of the change, eg. “BNZ Limited, with effect from the 1st March 2024”. This information will then be provided in the updated certificate.