Initio is pleased to announce that replacement contents insurance cover is available online.  This means NEW for OLD replacement of your property’s contents.   When you use our quote calculator to obtain a premium for your property you will also be given the choice of increasing your contents insurance cover [from $20,000 current value which comes for free] to either $60,000, $90,000 or $120,000.  This cover is especially important for those of you who own holiday homes.

For our existing clients, the option to increase your contents cover is available when you renew your policy.  Feel free to contact us if you would like to discuss your contents insurance.

All the same great benefits are extended to the contents cover as they are the home itself, including deliberate damage and theft by tenants / guests.  Especially for holiday homes that are rented out, this is real risk – and as a property owner and landlord it a risk that is not worth taking.

Major losses to dwellings caused by fire and flood are all to common – just ask us, we have seen and paid significant claims on quite a few.  Having been through this process with our clients it is imperative that you do not under-estimate the value of the contents in your property….  It adds up a lot quicker than you think.  Have a walk around your property and make a quick list of some of the more significant items, beds, lounge suites, TVs, electronics, bikes, tools.  Think about what it would cost to buy these new and to a tally on the cost; this is only the beginning – there are still all your clothes, and the pots and pans to include.

Feel free to call or email the initio team if you would like to discuss your contents insurance.  Have a look at the online pricing.  As always – with initio you can quote and start your cover online in a mater of minutes.

What claims cost the most, and what are the most common claims of 2024?

As we approach the end of 2024, we’ve taken a closer look at the trends in claims across the range of insurance policies we offer. The main ones being holiday homes, rental properties, owner-occupied homes and vehicles. Understanding these trends helps us, as your insurance provider, to stay on top of the risks that matter most to you – and also gives a bit of insight into what’s happening out there in the real world. Here’s a summary of what we’ve found.

Please note these figures only cover the most common categories. They are not an all-inclusive list and may not total 100%.

The most common claims this year

Across all policy types discussed in this article – Own Home, Holiday Home, Rental/Landlord, and Vehicle – two trends dominate: accidental damage and water damage.

Accidental damage is one of the most common types of insurance claims because it covers a wide range of unexpected scenarios. Accidents are often unavoidable, even with the best precautions, which is why having comprehensive insurance is so important. It ensures you’re protected from the financial impact of repairs or replacements, helping you get back to normal quickly without unnecessary stress.

Water damage, including hidden water damage, is another significant area of cover. Hidden water damage applies to gradual leaks from internal water pipes or tanks that aren’t visible. Coverage is subject to specific conditions and limits, so it’s worth understanding what’s included in your policy. Sudden water damage, such as from a burst pipe, is generally covered under most policies.

For more details about how we handle water damage, visit our water damage support page – it’s always good to know exactly what’s included.

For more information:

• Is my water damage sudden or hidden gradual damage?
• How to claim for accidental damage

The most expensive claims across all policy types

While frequency tells one side of the story, cost paints a different picture. Here’s a look at the claims that we’ve paid out the most amount of money for this year:

Some key insights stand out when it comes to the costliest claims. Thankfully, weather-related claims have dropped a few spots this year, providing some much-needed relief.

While accidental damage was the most frequent reason for our claims, it accounts for just 10% of the total payouts – indicating many smaller, less costly incidents.

When accidental fires occur, they’re among the most financially costly claims. These events often result in extensive damage, sometimes requiring a complete rebuild of the home.

Prevention is always the best defence against accidental fires. Simple steps like never leaving candles or cooking unattended, regularly testing smoke alarms, and ensuring your electrical systems are safe can greatly reduce the risk. While the financial cost of a fire can be substantial, the threat to human lives is immeasurable.

For more information:

• Is my house insured for fire?
• How to claim for accidental damage

General insights by property type

Own Home/Owner-Occupied

Weather has raised its ugly head again this year, but thankfully we’ve been spared the extreme damage experienced in 2023. Historically, summer is a season when storms and flooding can cause significant damage, so it’s a good time to take precautions to protect your property. If you’d like to learn more, check out our support articles for helpful tips and information:

• Understanding flood risk
• Insuring before a storm

Rental/Landlord

Similar to own home and holiday home insurance, water damage and accidental damage are the most common claims for rental properties. These issues often arise from the higher turnover of tenants or insufficient regular maintenance. What sets rental properties apart, however, is the added risk of loss of rent & malicious damage cover.

Learn more about these topics:

• Am I covered for loss of rent?
• Protecting your rental property from crime

Holiday Home

After the usual suspects of accidental damage & water damage, these properties see a higher risk of burglary and weather-related claims. Being unoccupied for long stretches makes them vulnerable, particularly during storm seasons. Burglary ranks as the third most common issue. Our Holiday Home insurance basics article offers helpful tips on mitigating these risks.

For more information:

• The differences between Holiday Home & Own Home cover
• Holiday Home basics
• Is my unoccupied home still covered?

Vehicle

One of the main standouts in 2024 is glass damage – it’s the most common claim by far. These claims, while annoying and inconvenient, usually don’t cost much to fix.

When we look at the vehicle claims we’ve paid out the most for, major accident damage tops the list. The good news? The Roadside Assist portal is now available for vehicle customers who’ve added the Roadside Assist feature to their policy. If you haven’t added it yet and want to know more, you can start here.

Another common (and costly) culprit is damage from static collisions – when your car meets an immovable object. 

For more information

Roadside Assist for initio vehicle customers

When we look at the vehicle claims we’ve paid out the most for, accident damage tops the list. The good news? Roadside Assist Online is now available for vehicle customers who’ve added the Roadside Assist feature to their policy. If you haven’t added it yet and want to know more, you can start here.

Another common (and costly) culprit is damage from static collisions – when your car meets an immovable object. And we hate to break it to you, but that pole you reversed into didn’t sneak up behind you. 

For more information

• Roadside Assist for initio vehicle customers

What does this mean for you?

These trends highlight the importance of staying proactive with maintenance, securing your property, and ensuring your insurance is comprehensive enough to cover frequent and high-cost risks. As your insurance provider, we’re here to help – whether it’s providing advice on minimising risks or ensuring your cover matches your needs.

Did you find this interesting? You might also enjoy our article on the weird and wonderful claims from this past year.

The statistics presented in this article are based on a comprehensive analysis of claims data from initio for the calendar year of 2024 (1 Dec 2023 – 27 Nov 2024), spanning our entire claims portfolio. Please note that all figures are approximate percentages, calculated to offer a representative overview of claim trends during this period. These figures only cover the most common categories. They are not an all-inclusive list and may not total 100%.

The requirement for 3 monthly property inspections forms part of most landlord insurance policies.

A rental property that is inspected regularly is less likely to be ill treated by its tenants, and if the property does suffer some damage it is easier to establish what and when it happened.

There is widespread debate among landlords, tenants, property managers and insurers as to whether 3 monthly inspections are too frequent and disruptive to tenants.

What is not well understood by landlords is that superior landlord insurance policies (like initio) provide insurance irrespective of whether property inspections are being completed or not.

So, here’s three things you need to know:

1.  You are still insured if you don’t do property inspections

From an insurer’s perspective the landlord obligations are NOT a requirement to make ANY claim acceptable. At claim time, property inspection information will only requested when the claim is for a tenant related loss such as meth or malicious damage.

So if you are making a claim for intentional damage caused by the tenant or meth contamination – your insurer may ask to see copies of your property inspections. However, if your claim is for damage not related to the tenancy such as a burst water pipe, a storm blowing the roof off, an earthquake, or total loss house fire (to name just a few) the insurer will not be interested in your property inspections as they are not relevant.

2.  6 monthly inspections used to be the norm, until …. Meth.

It is only recently that insurers have moved to 3 monthly inspections.  This is a direct consequence of the rising cost of methamphetamine contamination claims.

To put this in perspective, at its height Initio was receiving a new meth claim per day, and that cost a lot of money.  We noticed that a large number of meth claims could have been avoided or at least mitigated by better risk management, namely more regular property inspections.  So instead of pushing prices up further to offset this risk (or excluding meth cover all together) we decided that if landlords wanted ongoing meth cover they would need to take an active role in managing the risk through, among other things, property inspections.

Good insurers (like initio) will not use the landlord obligations as a way to avoid claims, but as a way to fast track claims for landlords with good risk management.

3.  New Zealand Property Investors Federation members – 4 monthly inspections periods.

We are proud to be the insurance partner to the New Zealand Property Investors Federation (NZPIF).  The NZPIF take an active role in professionalising property investing in New Zealand with knowledge, leadership and resources for members.

Our data shows that property investor members have approximately 50% lower incidence of meth and malicious damage claims, compared to non members.

Members of the NZPIF who insure with Initio receive the benefit of 4 monthly inspection periods.  Visit NZPIF to find out more about organisation, including how to become a member of a local property investors association.  Associate membership starts from just $25 per year.

Established in 2010, Initio is a digital insurance provider specialising in property insurance, including rental property insurance, landlord insurance, holiday homes, and home and contents.  Customers can quote, start cover, modify cover and make claims – all online.   Initio is underwritten by NZI (IAG New Zealand Ltd) 

There are a number of reasons why your premiums may have seen a recent rise. Some of those reasons are associated with passing on costs such as recent claims and securing reinsurance, but the most recent hike will be due to increases in government levies.

Levies are charges that are applied to insurance premiums and then paid to the government by insurers. They help cover the cost of services that benefit all New Zealanders, such as the Earthquake Commission and Fire and Emergency New Zealand. Sometimes these levies can make up half of the cost of house insurance .  Effective from 1 July 2019 the Government Earthquake Levy (EQC Levy) increased by between $69 and $115 per house.  Learn more about the EQC levy change here 

In addition to this, many insurers (including initio) have now changed to a risk-based pricing model, which has affected how they calculate premiums. Instead of being spread across different areas, if you buy a risky home or a property in an area prone to disaster, for example, this risk will be reflected in a higher premium specifically for you.

Due to the increasing prevalence of extreme weather events, reinsurers are also re-examining New Zealand’s risk exposure to natural disasters. As a result, may insurance companies have begun pricing for seismic risk, flood risk and the effects of climate change.

Initio recently featured in the New Zealand Property investor magazine.  Our policy and pricing was compared to all the mainstream insurance providers…. the result …. Initio provides some of the best landlord insurance cover in New Zealand.  The initio policy extensions provide our clients with robust landlord insurance cover.

As well as providing extensive cover, the NZ property investor magazine proved that our premiums are the most competitive (at time of publishing).

Landlord insurance for your rental property online with initio insurance.

As 2025 comes to a close, we want to take a moment to reflect on some of the ways we’ve helped our customers this year. It’s been a year of quick claims and responsive support at initio – all driven by our core values of customer satisfaction, speed, and making insurance easy. From fast claim resolutions to lightning-quick answers on our support lines, 2025 showed what our team and technology can do to take care of you when it matters most.

Ways we’ve helped our customers with their claims

When it comes to insurance claims, we know you want a swift, clear outcome. In 2025, our claims team made sure “waiting around” was rarely part of the experience. Many claims were sorted out within just a day of being lodged – yes, some were literally resolved overnight. A large number of others were wrapped up within the first week. Nearly half of all claims were resolved within 30 days, with many settled much sooner. Our approach is all about fast assessments and clear communication, so you’re never left hanging.

Speed doesn’t mean we cut corners, even on the tough cases. Big or small, every claim got the same careful attention. We handled hundreds of claims even during the busiest periods (think wild weather weeks and the holiday rush) without breaking stride. And while most claims were everyday-sized or moderate, we also helped customers through some major events – including a few very large claims like house fires and water damage. Those high-value claims were supported just as promptly and compassionately as a cracked window or a burst pipe. Whether it was a minor accident or a serious loss, we followed the same straightforward process and kept our customers informed at each step.

Several clear patterns stood out in our 2025 claims data.

Vehicle glass claims (like damaged windscreens) made up about 12% of all claims. These are the everyday mishaps many drivers run into, and they are usually simple to assess and settle quickly.

Water damage was another common claim type, at around 10% of total claims. While it was not the biggest category by volume, it had a much bigger impact on cost, making up roughly 27% of total payouts. Problems like hidden leaks and burst pipes can get worse fast, so acting early really helps.

At the more serious end, accidental fire claims were uncommon, at about 1% of claims in 2025. But when they happened, they were often significant, accounting for around 12% of total claim costs. It’s a strong reminder that the right cover, plus a responsive claims team, matters most when something major goes wrong.

We also saw how external events can cause short, sharp spikes in claims. 29 April was our busiest claims day of the year, lining up with a bout of severe weather that brought heavy rain and strong winds to parts of the country. As you’d expect, that drove an increase in weather-related claims, with customers reaching out for support when it mattered most.

This year, we saw claims for just about everything under the sun (and rain). The most common claims by number were the ones you might expect – accidental damage around the home, car-related mishaps, and weather events. Life happens, and sometimes that means a stray cricket ball through a window, a parking-lot fender bender, or a blustery storm knocking over a fence. These everyday issues kept us busy, but that’s exactly what we’re here for.

Support when you need it

Our commitment to speedy, helpful service wasn’t just on the claims side. The initio customer support team had a standout year in 2025 as well, making it easier than ever for you to get the answers or help you need. We handled over 22,000 customer enquiries throughout the year – and we did so with an emphasis on being both quick and effective. In fact, most customer questions or issues were resolved within about an hour. A huge portion (over 90%) were solved in a single interaction, meaning one call or message was all it took to sort things out. No endless email chains, no multiple phone transfers – just one conversation and you’re sorted. “No follow-ups needed” became a bit of an unofficial motto for us this year, and we’re proud of that.

We also made sure you could reach us in whatever way suits you best. The majority of our customers chose to contact us online – whether by email, live chat, or through their initio dashboard – and they got the same friendly, professional care as if they’d called us on the phone. Of course, whenever a phone call was preferred or needed, we were right there too. Real people, real help, every time. We know sometimes you just want to hear a reassuring voice on the other end of the line, and our phone support team was ready whenever those moments came.

Chatbot Chad played a big part in that easy, quick support experience too. In 2025, Chad handled nearly 3,000 conversations and sent over 7,000 messages, helping customers get answers fast when it suited them. Chad achieved a 95% answer rate, and the vast majority of customers rated their experience with Chad highly, showing that self-serve support can still feel genuinely helpful and human.

Despite handling thousands of enquiries, we didn’t let quality slip during busy seasons. Even in our peak months, response times stayed consistently quick and our service stayed personal. We like to say we’re “built for busy days” – and in 2025, we proved it, delivering the same care and speed no matter how high the volumes got.

Looking back at these highlights, what makes us happiest is knowing each number represents a customer who got the help they needed and could move forward with peace of mind. Thank you for trusting us with your insurance in 2025 – we’re truly honored to have helped you through everything from everyday hiccups to life’s big storms. We’re excited to keep that momentum going into 2026, with even more improvements on the way to make things faster, easier, and smarter for you. From everyone at initio, we wish you a safe and happy New Year. Here’s to a bright 2026 ahead!

Related articles

• The lighter side of insurance claims 2025
• The weird and wonderful world of insurance claims 2024

A closer look at property damage for New Zealand Landlords

Rental properties, for all their promise of steady income and long-term value can, if not managed correctly, become ground zero for an array of unforeseen problems and potential hazards. 

The reality is that damages, an often neglected aspect of rentals, pose a considerable risk to your investment. These risks are as varied as they are prevalent, raising a pertinent question in the minds of property owners: “What damage is most likely to occur at my rental property?” 

Safeguarding your investments and mitigating potential losses, and understanding these risks is essential to success as a landlord.  

A thorough examination of our 2022 loss data provides a detailed analysis of the challenges faced by New Zealand property owners.  Last year, claims related to rented properties — including traditional rental properties, own homes partially rented, and properties with multiple rentals, made up 35% of all the claims we received.  When focusing on these rental-specific claims, we identified a broad spectrum of loss types, which we’ve classified below in terms of number of claims:  

Water-related damage:  At 21.6%, this was the most common type of damage.  These losses typically involved scenarios including suddenly bursting pipes and rodent damage, while blocked pipes accounted for 6.4%.

Accidental damage: This category, representing 18.1% of the claims, includes an array of unexpected incidents, from minor mishaps to substantial accidents, illustrating the diverse risks property owners encounter.  The losses range from outdoor misadventures, such as balls shattering windows or trees falling onto the property (while being pruned), to indoor accidents like stains on carpets and damaged rugs, often due to spills or pet-related incidents.  There were also multiple kitchen bench damage incidents – caused by hot pots.  

Weather-related damage: Severe weather events substantially contributed to the claims we received, with flood-related incidents constituting 11.2% and wind-induced damage representing 9.9% of the total claims. These statistics do not include the severe flooding and storms experienced earlier this year.  Weather damage events are hard for property owners to  mitigate.   

Other incidents: Some more specific types of damages also occurred, albeit less frequently. These included

• Malicious damage by tenants (4.6%),
• Fire – accidental or unknown reasons (1.1%), 
• Meth contamination (1.5%), 
• Issues with keys and locks (3.5%), 
• Impact damage, typically involving a vehicle (5.5%) eg car versus house

Loss of rent: There were several circumstances that led to a loss of rental income, resulting in insurance claims. Property damage rendering the property uninhabitable was one such factor and is the most common.  

However, issues such as tenant abandonment, non-payment of rent, and eviction also significantly contributed. These loss-of-rent-only situations accounted for 3.3% of the total claims made.  

Frequency of claim vs. cost

The above numbers are based on frequency (i.e number of claims made).  We also analysed the payout values for rental property claims.  The graph below shows the top five losses by value.  This data is presented alongside the frequency of each of these claims.  It illustrates that losses like fire are uncommon but are high in value.  

Fire-related claims constituted a mere 1.1% of the overall number of rental property claims, but made up 25% of the total value of claims paid.  This underscores the potential devastation that fires can cause to rental properties. The significance of this cannot be overlooked, highlighting the importance of equipping your rental properties with smoke alarms, and fire extinguishers.  By taking these simple proactive measures, you can significantly reduce the risks associated with fires and safeguard your valuable assets and your tenants.

Final word 

Understanding the potential risks involved in rental property ownership can help landlords to better prepare for and protect their investments.  

Proactive and pragmatic management of landlord risk is a form of insurance in its own right.  In our experience, with the losses we see on a daily basis, a landlord that focuses on tenant selection, tenant vetting, regular property inspections, fire extinguishers in kitchens, regular maintenance including plumbing and electrical checks will outperform and not contribute to the statistics in this article.  

Choosing an insurance provider that knows landlord insurance and who provides an insurance policy that is dedicated to the diverse needs of rental property owners is the icing on the cake for a well-rounded risk mitigation approach to landlording.  

Learn more about initio’s Landlord insurance cover

The statistics presented in this article are based on a comprehensive analysis of claims data from initio for the calendar year of 2022, spanning our entire claims portfolio. Please note that all figures are approximate and have been calculated to provide a representative view of the claim trends during this period.

As we wrap up another year, it’s time to reflect on the fascinating, bizarre, and occasionally head-scratching world of insurance claims. While we see plenty of the usual suspects – cars driving into garage doors, kids toppling TVs, and the inevitable shattered dentures – this year’s claims have had their fair share of unexpected surprises. Let’s dive into some of the more unusual and recurring themes that stood out in 2024.

Up in flames

Fire claims are nothing new, but some of the culprits this year were particularly creative. Among the singed and scorched items:

• Electric scooters: Handy mode of transport, but not so handy when left charging unattended.
• Homebrew heating pads: A DIY fermentation item that ended in flames rather than fizz.
• Phone chargers: Reminder that dodgy chargers can do more than just overheat your phone.
• Electronic toys: A child’s aeroplane toy that transformed into an unexpected firestarter during charging.

While these incidents thankfully ended safely, they serve as a good reminder to keep an eye on electronics – especially when they’re charging.

Robots on the rampage

This year, robotic helpers had their share of mishaps, including a memorable case involving a Hydro Robotic Pool Cleaner. While the cleaner was hard at work, the family’s puppy, with a love for chewing, got to the power/control cable, gnawing it clean in half – a reminder that even tech isn’t safe from a curious dog’s teeth!

Another memorable incident involved a robotic mower and a bonfire. While the mower was navigating the lawn, a nearby bonfire burned behind a barricade. Once the fire died down, heat weakened part of the barricade, allowing the mower to wander onto the hot coals. An alert from the mower app came too late – the damage was already done. 

We’ve also had our fair share of claims involving robotic mowers being run over by vehicles. Whether these mowers have simply given up on life or were just in the wrong place at the wrong time, it’s a good reminder to check under your vehicle before driving off!

Lost gems and broken dreams

Losing jewellery is heart-wrenching, and this year saw a steady stream of claims for lost or damaged treasures. These included rings, bracelets, and other cherished pieces that were either misplaced, damaged, or, in one case, fell victim to a rogue drainpipe.

PSA: If your jewellery has seen better days, now might be a good time to have it checked for maintenance or repairs. Keeping them in good nick can prevent heartbreak later. 

For more details, check out our article on which items need to be specifically listed in your insurance policy.

Wild is the wind

Some claims highlight the unpredictable ways life can get messy – literally. This year, wind played a starring role in several liability claims, showing just how easily the elements can cause chaos. A few standouts include:

• Airbnb fire damage: Strong winds carried hot ashes from an outdoor fireplace through open sliding doors, burning the timber floors inside the accommodation. (We’re betting that bond didn’t cover it!)
• Marquee mishap: While being packed away, a marquee at an event was caught by a gust of wind and struck a parked vehicle.
• Flying debris: In another incident, a gust of wind sent wood from someone’s yard soaring over a fence, denting a parked car.
• Flying trampolines: Unsecured trampolines and strong winds are a recipe for disaster, as we’ve seen in multiple claims this year. In one case, even a properly secured trampoline was no match for particularly strong winds, showing just how unpredictable Mother Nature can be. If yours isn’t secured, now’s the time to make sure it is.

These moments remind us how easily accidents can happen – and why insurance is the best way to protect yourself against life’s unexpected mishaps.

Some of the more unusual…

Some claims stood out for their unique and unexpected nature this year, with these two being particularly memorable:

• The Broken Turtle Tank: A shattered aquarium caused water damage that made a big splash – literally.
• Fireworks inside a holiday rental: Yes, you read that right. Guests decided it was a good idea to let off fireworks indoors. (We can’t imagine the host’s reaction when they walked in to assess the damage.)

Here’s to 2025

While some of the above gave us a chuckle (and occasionally a gasp), they’re also a reminder of the diverse risks we all face. Fires, gadgets with minds of their own, and jewellery mishaps are just the tip of the iceberg.

As we move into the new year, we’ll keep an eye out for trends, helping to ensure we’re always ready to protect the unexpected. 

Here’s to another year of keeping you covered – whether it’s for the weird, the wonderful, or the downright bizarre. It’s our privilege to provide the protection and peace of mind you need, no matter what life throws your way. Here’s to a safe, secure, and hopefully less eventful 2025 – though if it isn’t, we’ll be here to help every step of the way.

For more information:

• What items do I need to specify?
• What types of claims are covered – and which aren’t?
• How to claim for accidental damage

Double whammy on levies

Did you know that a large portion of your house insurance premium goes to the government in levies? For the average initio house insurance policy sold through our site www.initio.co.nz, over a THIRD of the cost to the home owner is levies…… and unfortunately that proportion is about to jump significantly with fire service levies increasing by 40% from 1 July 2017 and earthquake commission levies increasing by 33% from 1 November 2017, which will mean total levies will then make up almost HALF of the cost of an average initio house insurance policy.

While levies are perceived as a bad thing, because they hit each of us in the pocket, it is important to take account of the fact that the fund essential community necessities such as the New Zealand Fire Service, many of which are volunteer fire brigades in smaller communities.  These brigades require specialized trucks and machinery to attend fires and accidents of all types. So as the running costs increase, so too do the levies.

Crack the champagne – a toast to our focus on insurance claims!

We are incredibly proud to be recognised for our hard work and innovation with the 2024 Canstar Innovation Excellence Award, which honors our efforts in setting new insurance claims standards for convenience and efficiency in the insurance industry.

Initio stands out not just for its technology, but for its practical, impactful applications that significantly improve the customer experience. Let’s explore the technological innovations at the core of our submission, which we call Smart Claims:

A fully digital, seamless claims process

Initio is one of the few insurance providers offering customers a 100% online claims process from start to finish, setting a new standard for convenience and efficiency in the insurance industry. Our Smart Claims platform eliminates the need for traditional phone calls to confirm details, handling everything online with ease and precision. This approach not only simplifies the claims process but also significantly speeds it up, allowing customers to focus on recovery and rebuilding without unnecessary stress.

Key features of our Smart Claims process:

• Streamlined submission: Customers can submit claims quickly and effortlessly, without the traditional hassles of paperwork and long waiting times.
• Efficient claims management: Our system ensures claims are managed efficiently, significantly reducing wait times and allowing our staff to focus on expediting claim processing rather than making follow-up calls.
• Reduced need for customer calls: Our online dashboard’s transparency and instant access mean fewer calls are needed, making us more available to pick up when you do call. This enhancement significantly improves your experience while allowing our support team to assist you more efficiently..

Proactive customer support and real-time updates

During Cyclone Gabrielle, Initio leveraged its advanced mapping tool, Locatio, to proactively identify and contact customers likely affected by the disaster. This not only ensured timely assistance but also demonstrated our proactive approach to customer care.

Enhancements in customer support:

• Claim support and updates: Our efficient system freed up our claims consultants to provide personalized support, focusing on those in critically affected areas.
• Continuous availability: Despite the digital focus, our claims consultants remained available via phone for those needing personal interaction, further supported by continuous online chat and easy claim access.
• Transparency and real-time updates: Customers could monitor the status of their claims through their dashboards, which included detailed updates such as site visits by builders and a comprehensive communication history.

Initio’s offerings are not only innovative but also distinctly superior to what is currently available in the market, both domestically and internationally.

What makes smart claims different?

• Complete online management: Our website allows customers to fully manage their policies independently, from purchase to claims, providing unparalleled control and flexibility.
• Advanced risk assessment: Utilising data from Regional and Government Councils and updates from the LINZ database, we provide precise risk assessments, enhancing our underwriting process.
• Synergy of smart claims and Locatio: The integration of these technologies not only reduces administrative burdens but also accelerates claims resolution, improving overall customer satisfaction.

What the Canstar judges said about initio’s online insurance experience

The awards panel recognised that initio is the pioneering insurance provider in New Zealand. We enable customers to secure quotes, arrange cover, and file claims swiftly via a digital platform. They praised initio for its effective service that simplifies insurance management for homeowners, utilising technology to evaluate risks promptly and precisely.

The judges were most impressed by the ease and efficiency of receiving a quote with Initio. There was consensus around the judging table that this could be disruptive as other insurers look to adopt a similar approach.

Our ongoing promise

Initio will continue to refine and enhance our platform, committed to providing the finest digital experience available in New Zealand, ensuring our customers receive outstanding service tailored to their needs.

• Read the full Canstar article here
• Ways we’ve upgraded our systems lately
• Moneyhub Editors Choice award 2023
• How to make a claim with initio

The current situation – Duty of full disclosure

Duty is on you to disclose anything that may affect the insurance company’s decision to cover you.  

When you apply for insurance you are asked declaration questions by the insurance company. You are expected to answer these to the best of your knowledge.

With current legislation, a final question is then asked to “disclose any information that may be relevant to the insurer’s decision to insure you”. This is a catch all question which does not relate to any specific question asked by the insurer. 

Relevant information is deemed as anything that can affect the decision to insure the risk, and for what premium and excess.

The current full disclosure approach has drawn criticism for expecting too much from you. It’s very difficult for you to know everything that might change the premium or excess of your insurance policy.

The future – Duty to take reasonable care

Duty is on the insurance company to ask questions that help their decision to cover you.  Your duty is simply to take reasonable care and not misrepresent this information when answering them.  

There is currently an Insurance Contract Law Review taking place in New Zealand. Proposals for the government’s Options Paper want to change the requirements around disclosure. More responsibility is being placed on insurers to get information, instead of asking you to declare anything they might think is relevant.

You will likely see a shift from a ‘Duty of Full Disclosure’, to a ‘Duty to Take Reasonable Care’, and to not make a misrepresentation. 

What this means for you

When you apply for cover the insurance company will ask more specific questions. You will no longer be asked the catch-all question to declare any other information that might be relevant.

For example, the insurer might specifically ask if your house is in a flood zone, rather than expecting you to declare this yourself without being asked directly.

We support the proposed changes and look forward to seeing what improvements are put forward. Removing the general declaration question will be an important step towards more equal expectations between you and the insurer.

For the full issues paper on the Insurance Contract Law Review click here 

Learn more from leading law firm Minter Ellison, with a useful summary of the review.

3 News Article
http://www.3news.co.nz/Increase-in-insurance-claims-for-P-Lab-dwellings/tabid/309/articleID/198177/Default.aspx

Initio Comments:
These are certainly some alarming statistics. I agree that it is good to be proactive in identifying when your rental property may become the victim of drug manufacture; MethMinder certainly seems to be the best approach. It is important to note that not all dwelling insurance policies provide cover for drug related / illegal activities (ie P Labs). In light of this it is crucial that the landlord understands the extent of their existing insurance cover. Initio Rental Property Insurance provides comprehensive cover for this risk and it can all be done (and managed) online. Have a look for yourself.

2016 in review:

With 2016 gone and everyone returning from the beach, it is a good opportunity to reflect on the events of the past 12 months and provide an update on changes to the insurance market for 2017.

2016 saw a large rise in the prevalence of meth contamination claims and costs. This has had impacts across the entire market, and seen a lot of media attention.

The Kaikoura earthquake of 14 November also had an impact on the insurance market. Repairs are expected to cost hundreds of millions in repairs, says the Insurance Council’s Tim Grafton (read more here).

This means that insurance premiums across the board are likely to increase further as more costs to the Kaikoura earthquake are realised. Areas affected by the quake are also seeing stricter rules for cover, especially properties in the Wellington/Nelson area.

Positive changes:

While there have been some challenges, there are some positive results as well.

An agreement was reached between EQC and many private insurers (including Initio) that claims for damage caused by the Kaikoura earthquake can now be handled directly. This means that claims no longer need to go through EQC, and makes the process quicker and easier.

Further good news is that the old guidelines for meth contamination and remediation have been reviewed. The government has indicated that they will be adopting the new guidelines which have higher limits in place (MoH Summary). Ultimately, this should reduce the cost and exposure to property owners.

The government is also considering ways to deal with the Holler v Osaki issue, which saw tenants exonerated from accidental damage caused to properties. Housing Minister Nick Smith announced plans to change the law so that tenants would be liable to some extent, which should provide some relief to property owners.

With continuing changes in the property market, 2017 promises to be an interesting year.