Specialist Cover for Multi Units

If you’re serious about property investing, it is likely that you have a block of units in your portfolio. We have an insurance policy designed to keep your premiums low.

Get Multi Unit Cover


Initio allows you to buy insurance online and enjoy some of the best policy coverage and claims management available to Landlords of multi units.

Initio provides an all-in-one cover for residential multi unit rental properties (up to six attached units) and the extra risks you take on as a landlord, such as one of the tenants deliberately damaging your property.

What if I live in one of my units?
The multi unit rental policy is designed for rental properties. If you own a block of units and personally reside in one unit, this will need to be insured individually as an owner occupied home. This way you can include cover for your contents and personal effects, and get premium savings on your own home. The remainder of the units in the block can be insured either together or individually.

What if it is a Body Corporate?
Sorry we are unable to insure properties which are part of a Body Corporate.

How do I note the ownership of each unit?
If each unit has a different owner the unit will need to be insured individually. To qualify for the multi-unit policy the units must all have the same ownership and be under the same roof.

How many units can I insure on one policy?
You can insure up to SIX attached residential units under a single initio multi unit policy.

Here are some of the great features of the Initio policy

Comprehensive House Insurance

Cover up to Sum Insured
Excess is your choice of $400 / $650 / $1,150 / $2,000

Loss of Rent - following property damage

Covered up to 52 weeks
Cover from $20,000 to $80,000 per unit

Loss of Rent - Other

Eviction for non payment - 6 weeks
Vacating without notice - 6 weeks
Prevention of access - 6 weeks

Landlords Contents

Items under 5 years of age
covered for replacement
Cover from $20,000 to $60,000

Major Malicious Damage

Fire & Explosion covered
up to the replacement value

Deliberate Damage by Tenant

Covered up to $25,000 per unit

Retaining Walls

Included up to $25,000

Methamphetamine Contamination

Covered up to $30,000 per unit
Excess $2,500

Natural Disaster

Cover up to Sum Insured
Excess $5,000

Recreational Features

Swimming Pools, Spa Pools and Tennis Courts
Included up to $45,000

Owners Legal Liability Cover

Limit of cover $2,000,000
Your chosen excess


How likely are our customers to recommend initio?

By Coral,
Easy to do online, great value as well and beneficial having a dashboard too.
By Graham,
Simple online process to insure or re-insure
By Michael,
By Roger,
Fast, easy cost efficient online insurance with simple to understand cover that provides a benchmark year after year for the minimum standard of policy coverage and service delivery all property investors should be able to expect from their insurer. Excellent product, service & concept. We recommend all our clients consider initio.
By Barbara,
Good pricing, easy to use website. Main downside for landlords is not being able to insure properties in the Wellington area.
By Shelley,
Love the ease of the online applications!
By Davina,
Excellent call center service. great product at a great price.
By Karen,
Easy to use, quick response thanks
By Shelley,
Have NEVER been able to buy insurance like this before. Super easy. Only thing is that there is nowhere to tell you that the 2 houses on this property were built in different decades. 1969 and 1990.
By William,
By Phillip,
Quick signup and simple
By Tracy,
By Stephen,
By Cathy,
it was so easy to insure a multi dwelling property
By Shane,
Ease of application.
By Raewyn,
Cheaper premium, nice and simple. Thanks!!
By Mark,
price is competitive, couldn't comment on claims,