If you’re serious about property investing, it is likely that you have a block of units in your portfolio. Now we have the insurance policy designed to keep premiums low and returns high.

Initio provides an all-in-one cover for your multi unit rental property and the extra risks you take on as a landlord, such as one of the tenants deliberately damaging your property.

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Here are some of the great features of the Initio policy:

Description of Cover Limit of Cover
(across all units)		 Excess
Full replacement Dwelling Cover up to Sum Insured Your Sum Insured Your Choice of $400 / $650 / $1,150 / $2,000
Major Malicious Damage by Tenant (Fire & Explosion) Your Sum Insured Greater of $500 or Your Chosen Excess
Deliberate Damage by Tenant $25,000 Greater of $500 or Your Chosen Excess
Loss of Rents Cover (following property damage) $20,000 – $80,000 Nil
Landlords Contents – present day value cover $20,000 – $40,000 Your Chosen Excess
Hidden Gradual Damage Cover $3,000 Your Chosen Excess
Owners Legal Liability Cover $2,000,000 Your Chosen Excess
Full Earthquake Cover Your sum insured $5,000

IMPORTANT This is a summary of the policy only. Please refer to the policy wording for full details of cover

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 Body Corporates.

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 share both the ownership and the roof.

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

Endorsed & recommended by New Zealand Property Investors' Federation

 

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(square meters)
  
(Living area & attached garaging in square meters)
 
(Decking & detached garaging in square meters)

 
This figure is automatically generated based on the size of your property – it is not intended to accurately reflect the rebuild cost. You need to establish your Sum Insured, you may wish to use a valuer or an online calculator such as Cordell.
 
 
Means a traditional residential rental property.
Mean a multiple residential units or flats under the same roof.
Means a holiday home or your own home that you intend on using personally but is also rented out to short term tenants. Your own possessions are kept at the home.
Means a traditional holiday home or bach that you use personally. You may also let the property to friends and family.
Means a property that has been setup purely as a commercial enterprise for short term tenancies. You do not intend on using this property personally. If you do intend on using this property personally select "holiday home that's also rented out"
Means your own personal property which you live in