Insurance for multi unit rental properties

Easily insure multiple rental units and blocks of flats on a single landlord insurance policy.  Get an instant quote and start cover online.

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Multi Unit Rental Insurance

Initio knows how to insure multi unit properties

In fact, this is the only place in New Zealand where you can insure your block of units online. Our multi-unit rental policy provides cover for the important events such as fire, earthquake, flood.  The policy also provides protection against landlord nasties including damage by your tenants, loss of rent, meth damage, landlords contents, and landlords liability.

Endorsed by the New Zealand Property Investors Federation

Initio is the insurance provider to members of the NZPIF.  We created our multi-unit insurance policy with professional property investors in mind.

Our premiums are lower because its online

We use technology to make insuring blocks of units easier than any other insurer in New Zealand, and because of this we pass premium savings onto you. We are all about the digital experience so that means you receive an instant certificate of insurance and the freedom to change your multi-unit policy anytime through your personalised dash. Most importantly, you can make and view claims directly from your dash.

Initio Multi-unit Insurance 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
(per unit)

Landlords Contents

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

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

Common questions about mutli-unit insurance

It’s a collection of residential units under the same roof.  These are sometimes referred to as a block of flats or a block of units.
Work out whether your property is a multi unit or not.

Its an insurance policy that provides protection for multiple rental property units in one go. Multi unit insurance provides cover for the entire block of units, based on your selected insured value, and also provides landlord insurance benefits including loss of rents, landlord contents, deliberate damage by tenant, meth and more.
Learn more about insuring multi unit property.

Yes, but only if they share wall or a roof.  For example the following are considered multi units:
a. two separate dwellings that are connected by a shared a carport
b. a two story house with one tenancy upstairs and another downstairs.

Both or these can be insured on a multi-unit policy.

If the houses are completely separate from one another then they will need to be insured individually as rental properties.

How likely are our customers to recommend initio?

By Brenda,
Easy online process but if you need help they are very quick to contact you and get everything sorted
By Alexandria,
Easy to use website.
By Brenda,
So simple after waiting, talking to and getting nowhere with a very popular company.    
By Craig & Robyn,
By Scarlett,
Website so easy to work through your on line quote!
By Gordon and Carol,
Easy to deal with
By Marston,
Easy online quotes, great customer service both online and by email, competitive pricing, NZPIF benefit an extra bonus!
easy to use, hassle-free, competitive discounted quotes for members of NZPIA.
By Caryn,
By kathy lee,
By Jody,
so easy
By Malcolm,
Its so easy to set up on the website and easy to understand.
By Shelley,
Love the ease of this, and think the policy is great.
By Barbara,
Easy to deal with, make changes, renewal etc. I was also impressed with Sam's fronting of recent Auckland Property Investors' webinar. Only issue is current refusal to insure properties in Wellington area. I would have thought that for long-standing clients some accommodation could be made.
By Mark,
By Rachel,
By Chad,
By Gregory & Gaylene,
Best price. Very simple online procedure for a 2 unit rental property. When I did have a query the service and response was excellent. Highly recommend.
By Roger,
By Lynnette,
So easy to renew / although we haven’t had to claim yet very impressed with ease to get quotes/ apply and obtain insurance!
By Shelley,
So so easy, and great policy.
By kathy lee,
Ease of use
By Tracey Leigh,
Easy and great pricing for the cover
By Kelly,
Easy to use, no hassle claims
By Tracey,
Great service - quick and easy over the internet - tailored for investors. Great support at helpdesk with any queries.
By Phillip,
Its quick easy, and best of all cheaper than most of your competitors
By Mark,
By Michelle,
By Vettivel,
By Thomas,
Quick Easy and reasonable pricing
By Anthony,
Initio have given me excellent service and I have referred a few people.
By Lynnette,
Very easy to use. Covered my property which other insurers wouldn't cover it because it is 5 units. However wanted to do monthly payments using AP but only Visa option so did annual.
By Mark,
Competitive rates, comprehensive cover and easy to arrange online.
By Gavin,
Good service at competitive prices. Policy for rental properties includes malicious tenant damage and gives good cover for residential property investments.
By Roger,
Everything about applying was very straightforward
By Mark,
Competitive premium
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,

Helpful links for multi-unit properties

Multi unit buildings in an earthquake

The Earthquake Commission has defined multi-unit buildings several ways. These are often a singular building with several dwellings within it (such as an apartment block), a mixed-usage building (such as a residential flat above a commercial warehouse), or two or more dwellings that are connected by party walls or a carport.
Learn more about how the EQC treats multi unit properties.

Landlord's fire safety checklist

As a landlord, you have obligations to ensure you’re maintaining your property to a suitable standard. This includes ensuring that it’s fire safe for renters. Learn more about fire protection at your rental property by Fire and Emergency NZ

Landlord’s fire safety checklist by Fire and Emergency NZ