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If there are two self-contained rental units at one address, they can only be insured collectively under our multi-unit cover if they’re connected. The multi-unit cover is cost effective way of insuring two connected units under a single policy and payment.
If the two units or houses are separate or not attached, they will need to be insured under two separate policies. You can have two policies at the same address.
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AA Financial Strength Rating
We know that the most important thing for our customers is knowing that we have the financial strength to be able to pay their claims.
In accordance with the Insurance (Prudential Supervision) Act 2010, we provide you with updated information on our financial strength.
Initio Limited policies are underwritten by IAG New Zealand Limited (IAG). IAG has received a financial strength rating of AA from Standard & Poor’s (Australia) Pty Ltd, an approved rating agency.
A rating of AA means IAG has a ‘very strong’ claims-paying ability.
The rating scale for S&P Global Ratings is:
| AAA |
(Extremely Strong) |
| AA |
(Very Strong) |
| A |
(Strong) |
| BBB |
(Good) |
| BB |
(Marginal) |
| B |
(Poor) |
| CCC |
(Weak) |
| CC |
(Very Weak) |
| C |
(Extremely Weak) |
| D |
(Default) |
| R |
(Regulatory Supervision) |
| NR |
(Not Rated) |
Note:
The Ratings from “AA” to “CCC” may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major ratings categories.
The rating scale above is in summary form. A full description of this rating scale can be obtained from www.standardandpoors.com.
In its Annual Solvency Return filed with the Reserve Bank of New Zealand, IAG New Zealand Limited had a Solvency Margin as at 30 June 2023 as follows:
| |
$m |
| Actual Solvency Capital |
782.1 |
| Minimum Solvency Capital |
501.8 |
| Solvency Margin |
280.4 |
| Solvency Ratio |
155.8% |
Finding out your property is contaminated with meth can be scary. Here’s a quick few tips to helping you through making and managing a claim.
Step 1: Get a detailed composite test
If you’ve detected meth at your property it’s likely this was from a base-level composite test, or with a self-testing kit. After a positive preliminary test you’ll need to get a full detailed test. This is a room by room test that take sample wipes in accordance with the IANZ accredited NISOH testing method.
When you receive this test back check that any part of the house has a reading above the 1.5 μg MOH level. Usually this is the case, and means you can make a claim on your policy.
Step 2: Lodge a claim through your dashboard
If the detailed test shows levels over 1.5 μg then login to your dashboard to make a claim. We’ll also need the following documents which you can upload along with the claim:
- Composite test result and invoice
- Test report from the testing company that includes photos and details of samples
- Invoice for detailed test
- Tenancy agreement
- Tenancy reference checks
- Written inspection reports
Remember that you need to meet your landlord obligations to have cover for meth contamination.
Step 3: Get a cleaning quote
You will need to get a meth decontamination company to give you a quote for cleaning the property back below 1.5 μg. They’ll use your detailed test results to put this together.
When you receive this send us a copy to [email protected]. We will then advise you about going ahead with the cleaning.
If you need any assistance or support during the process please do not hesitate to contact us.
Protect your rental with initio’s landlord insurance
Get a quote in seconds
Related articles:
Is my rental property covered for meth?
Understanding the Gluckman meth report
How do meth claims work?
Protecting your rental from crime
As a NZPIF member, you’ll receive the following benefits:
- Competitive House Insurance Premium
- Inspections required only every four months (rather than three)
Key requirements for accessing the initio offer:
- You must be an active NZPIF member or have an active membership with an individual association to qualify.
Please contact your local NZPIF branch to learn more.
If you are unsure whether you have a NZPIF membership loaded to your initio account, please email [email protected].
No. Through our internet-first approach we aim to provide competitive premiums across our house, car and contents insurance products – regardless of quantity or type.
IAG, which backs Initio, has shared insights from their latest Wild Weather Tracker.
The May 2024 update provides:
- An in-depth analysis of significant weather events across New Zealand, highlighting climate impacts on housing, with 90% of New Zealanders seeking flood information when buying homes.
- A six-month weather snapshot: Nine major storms resulted in 6,712 claims, with Canterbury lodging the most.
- Weather-related claims percentages across NZ.
- Insights into understanding insurance premiums.
- The interplay between wild weather and the housing market: House claims made up 62% of weather-related claims.
- Natural hazard risk research.
- Preparation tips for extreme weather.
This report aims to keep you informed about current weather trends and their potential implications. Stay prepared and updated with comprehensive weather tracking.
For more details, visit IAG Weather Tracker.
initio launches its rental property insurance site on 01 November 2010. Be here for excellent cover and sharp premiums. initio – an online insurance revolution in New Zealand. The online site where you can manage your own insurances online. No phone calls… no paperwork
Rental properties not on non town water (bore water, trickle feed, tank water, all of the above) can now be insured online through initio.
If this is you just click ‘No’ to the town water question on the quote calculator. Initio insurance just keeps getting better. Providing you quick and easy quotes without the need for time consuming paperwork and questions.
Insure your non town water property online with initio rental property insurance.
Another well-earned award
Last night our friends and colleagues at Frank Risk were recognised with the Australia New Zealand Institute of Insurance and Finance (ANZIIF) Small-Medium Broking Company of the Year Award. This is the second year in a row they have won the award.
Frank Risk Management is very special to the team at initio, as the co-founder, Rene Swindley, is also the co-founder of initio. We are very proud of the achievements of Rene, Andrew Newman and the rest of the Frank team.
Also, congratulations to our partners, NZI, for taking out the Intermediated Insurance Company of the Year Award.
Your home insurance policy does not cover you for construction related damage while your are renovating your home.
For example, if a tradies skill saw catches on fire and burns part of your home your home insurance policy would not pay the claim. Or if you removed a window, and an unexpected storm passes through causing water damage to your wall linings and carpets, you wouldn’t be covered.
If you are making any structural additions or alterations to your home, including the removal of roofing and exterior cladding, it is likely you will require a seperate contract works policy.
Before you (or your builder) pick up a hammer, flick us an email with details of your project or complete the following Contract Works Fact Finder and we can advise you if additional cover is required.
There’s replacement cover for most medical assistance equipment you own and keep at your residence under our Own Home Contents cover (owner-occupied policy). This includes hearing aids, insulin pumps, spectacles, dentures, and mobility aids such as wheelchairs and walkers. These items are automatically covered under your main contents sum insured and don’t need to be listed separately. They’re insured for sudden and accidental loss or damage, subject to the policy’s standard terms and conditions. Please note that cover applies only within New Zealand, so we recommend arranging travel insurance if you’re heading overseas. Your chosen contents policy excess applies to any claim for these items.
To see a list of contents items that need to be listed, see here.
Releated support articles:
What content items do I need to specify?
Are there limits to how much I can claim for my contents?
How do I add contents to my insurance policy?
Our robust cover means it’s not the end of the world if you use your car for some business use. You’re still covered as long as it’s not being used for any of the below.
Business use that is NOT covered:
Your car will not be covered if used for the following:
- Ride-sharing, or carrying fare-paying passengers such as a Taxi, or Uber.
- Courier or delivery business (including food delivery such as UberEats).
- In connection with a trade or servicing business that does any installation, maintenance, cleaning or repair work on homes.
- To carry goods or samples for financial gain or reward, as part of any business (apart from Farming)
- As part of any motor (or automotive) trade profession (such as a mechanic)
- Formal driver training or education.
- Towing for reward (e.g. to a tow another car)
- Car being hired out (e.g. a peer to peer hire)
If your car is used for any of the activities listed above, our policy is not suitable. We would recommend purchasing commercial cover – typically available through an insurance broker or commercial insurer.
What if I don’t usually use it for the above activities but that changes later?
Your vehicle won’t be covered at any time it’s used for any of the excluded activities listed above. If you’re involved in an accident while using the vehicle for any of those purposes, your initio policy won’t respond – and the claim would be declined.
Will my cover include damage to or replacement of the car’s signwriting?
No, our policy does not include cover for any vehicle signwriting.
So, is all other business use covered?
Yes! For any business activity not listed under the exclusions above, your car can be covered – even while performing that business task.
Our policy acts as a hybrid between private and commercial cover, designed to accommodate most other business uses.
Examples of covered occupations (not exhaustive):
- Office professionals visiting clients.
- Property managers driving to properties for inspections or viewings.
- Property Owners carrying out work on their own rentals
- Farmers using a ute for on- and off-farm activities to run their operations.
- Real estate agents or salespeople traveling for work.
Still unsure?
If you’re uncertain whether your business use is covered, get in touch with us – we’re here to help clarify!
Other articles of interest
The main driver’s age and loss history is a major factor in calculating your car insurance premium.
When you get a quote from us we ask about the number of claims you’ve had in the last five years, where you or the owner paid the excess.
Each anniversary, when your policy renews, the initio system checks to see what additional initio claims the Main Driver has had during the year. The system also checks to see if historical claims have fallen outside of the five year period.
We call this ‘Driver Grade’. Other providers have a similar system referred to as “No Claims Bonus”.
How does Driver Grade work?
When the policy is first started we take the claims from the main driver’s previous 5 year period. This number determines the driver grade, and has a bearing on the car insurance premium.
When the policy anniversary comes around we re-calculate the driver grade by checking if some of those historical claims have fallen outside the 5 year period, and checking to see if the main driver has incurred any initio at fault claims during the past year.
The number of ‘at fault’ claims in the previous 5 year period determines the driver grade.
- Had no claims? Your driver grade is zero and you’ll be at our lowest driver grade premium without any loading.
- If you’ve had a claim, the grade increases to one which slightly increases the premium.
Each additional at fault claim increases the driver grade and premium. If you’ve had 3 at fault claims your driver grade is 3, and premium will be significantly higher than a vehicle that has a main driver with no claims.
We don’t count at fault accidents that are more than five years ago. A crash 10 years ago won’t affect the premium you pay today. We also don’t count claims where the main driver was not at fault. But know that the main driver can still be considered ‘at fault’ even if it wasn’t directly their fault (e.g the vehicle was vandalised).
What if I wasn’t at fault, but I paid an excess?
When starting cover with us we ask you to disclose claims where you paid the excess. This is the best way to determine what claims are not recoverable by your insurer (ie where another party cannot be made responsible).
We realise that you could have a claim go towards your driver grade that wasn’t really your fault (like your car being vandalised), but this is still considered at fault as we (or your insurer at the time) is not able to hold another party responsible for the damage.
Think of it as a user-pays system where those that claim more (with no ability to hold someone else responsible for the cost) pay a bit more into the claims pot.
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At Initio Insurance, we require an agent or a trusted representative physically present at the property for inspections. This ensures a thorough evaluation of the property’s condition and facilitates real-time reporting, serving as your on-the-ground resource.
Advantages of having an in-person representative include:
- Real-time condition verification and data reporting during the inspection process.
- Being your dedicated eyes and ears on the ground, diligently checking the property’s condition.
- Early identification of any potential issues, damages, or repairs that could potentially be missed in a purely remote inspection.
However, we understand there may be special circumstances such as illness or lockdowns where remote inspections become necessary. These should be exceptions rather than the norm. In such cases, a trusted representative or official agent’s physical presence during the inspection is critical to maintain the assessment’s accuracy and comprehensiveness.
Looking ahead, we’re mindful of emerging technologies that could potentially streamline remote inspections. However, as of now, the value of in-person inspections is paramount. Always remember that our advice serves as a guideline, not an inflexible rule. Each property and situation may require a different approach, and decisions should be tailored to your specific circumstances and needs.
Learn more about how often you need to inspect your property
Heading out for a holiday or needing to leave your home for a bit? There are some easy steps you can take to make sure your home doesn’t become a victim to unwanted attention without you.
Take holiday precautions
When you’re planning to leave your home for a holiday or any reason, there are practical steps you can take to keep it safe and secure. It’s not just about locking doors or turning off appliances. We’ve got straightforward advice to help you relax, knowing your home is looked after while you’re away. Here’s how to prepare your property for your absence, which also helps in maintaining your insurance cover.
Engage a Trusted Person
Ask a neighbour, friend, or family member to look after your property. They can collect mail, water plants, and make the property appear lived in. This is important for keeping your home safe and meets the requirement for regular check-ups, especially for holiday homes.
Utilise Smart Home Technology
Investing in smart home technology can offer peace of mind while you’re away. Smart lights can be programmed to turn on and off at set times, mimicking the presence of someone at home. Smart water sensors can alert you or a trusted contact to any potential leaks, reducing the risk of water damage.
Garden and Exterior Maintenance
Ensure your garden and the exterior of your property are well-maintained before leaving. Overgrown gardens can signal an unoccupied home, attracting unwanted attention. If you’re away for the long haul, maybe hire someone to look after your gardens to keep things looking loved.
Secure Valuables
If possible, secure valuables in a safe or take them with you. This reduces the risk of theft and ensures that your most precious items are not left unattended in an empty property.
Update Your Contact Information
Ensure your insurance provider has your current contact information, including an emergency contact number. This allows us to reach you promptly if any issues arise with your property while you’re away.
Review Your Policy
Before leaving, review your policy details to ensure you understand your cover and any actions you need to take to maintain this coverage. If you have any questions or need clarification, it’s a good idea to contact us for peace of mind.
By following these steps, your home will remain secure, ready for your return from any adventure.
Make sure your unoccupied property qualifies for cover
On the subject of taking holidays, perhaps you’re wondering about cover for your unoccupied property? If your property is left empty, vacant, or unoccupied, you don’t need to notify us. But there are some conditions.
- For rental and owner-occupied properties, your coverage remains unchanged for up to 60 consecutive days of being unoccupied. However, if unoccupied for over 60 days, a standard excess of $5,000 applies to all claims, reduced to $1,000 if there’s a break-in with a professionally installed (and monitored) alarm*.
- For owner-occupied homes, after 60 days, coverage is limited to major risks like fire, explosion, and natural disasters, excluding theft and vandalism.
- Holiday homes can be unoccupied for over 60 days, but require regular inspections, maintenance, mail clearance, water shut-off, and secure locking. Failure to meet these conditions results in a standard $5,000 excess, reduced to $1,000 for break-ins with a professional alarm system* that provides external alerts.
*Surveillance cameras only do not meet this criteria – the system needs the ability to provide an external alert (audible or direct to a monitoring company)
OTHER ARTICLES OF INTEREST
This article is only meant as a general guide. We recommend reading the full policy wording for the full details of the coverage.
Do you know what goes on in your property?
One of initio’s first ever claims was a large fire caused by a child playing with matches in a wardrobe. While this is rather cliche, it does happen, and the consequences can be very serious. Fortunately, working smoke alarms meant no one was injured, and initio picked up the tab for the damage to the house.
Please use this as a friendly reminder that all your properties should have working smoke alarms which are tested regularly.
It’s common for older houses to have un-consented garages. Usually this is because a garage was added to the house without a full code of compliance being approved. This doesn’t necessarily mean the garage isn’t up to standards and can’t be covered.
To cover an un-consented garage it will need to meet the below requirements:
- Garage is structurally sound, well maintained and has no known defects.
- Structure would have met building requirements at the time it was built.
- If code of compliance was requested, it would have been issued.
If you can meet the above then it’s likely we can provide cover on our standard terms. However, if there’s a loss that’s directly cause by the garage’s non-compliance or because it isn’t built to standards, it may not be covered.
You’ll also need to disclose the un-consented garage on your application.
For more information see our full guide on insuring un-consented houses here.
Other articles of interest
Do you need confirmation of cover?
What is initio and how does it work?
Initio’s policy wordings
What we do not cover at initio
Often when we talk to our customers, and they tell us how much they love initio; unfortunately that can be followed by a but…. The most common ‘but’ we hear is that they don’t want the same excess for their home and contents. We agreed that was a reasonable request and put our developers to work.
The benefit of having an in house development team is that we can make changes on the fly. So even though this wasn’t a schedule update; we found some time between two larger development projects and got it done. The best part about making a change like this is the validation. The very next day after rolling out the update, we had an exisiting customer log in to their dashboard and insure their own home and contents. They were able to choose a $2,000 excess on their home, and a $400 excess on their contents.
Initio loves satisfied customers, which is why when something isn’t quite right, we make the necessary changes to improve it. And on that note, it is back to our next project – monthly payments.
Do you know what goes on in your property?
One of our customers suffered a devastating house fire at their multi-unit rental property. Here are some basic proactive steps you can take to protect your property.
- Check power points for overloading and consider installing additional power points
- Install safe and efficient heating sources such as a heat pump
- Remove curtains from kitchen windows as these are excellent fuel sources for fires
- Have registered electrician check the condition of the electrical wiring if there are any concerns.
Please use this as a friendly reminder that all your property should have working smoke alarms which are tested regularly….. And never let your kids play with matches.
Initio is loving local real estate ‘disruptor’, Hermitty, the new website that helps people save time, stress and thousands of dollars by swapping homes permanently instead of selling them.
Swapping homes creates an even playing field. It doesn’t matter what each property is worth, it only matters what the value gap is. The difference between agreed house values may be addressed by a cash payment or you could decide to include chattels or even a boat. It’s up to you how you swap.
Thought about trading that inner-city apartment for a lifestyle block further South? Why not list your property and see what future home may be out there? It’s free to list and you pay a one-off fee of $98 to chat to as many home owners as you like. They’re like a dating agency for homeowners!
Hermitty is for everyone who owns a home and wants to swap. It’s all about the chat so no legal agreements happen on the site. Once you’ve found someone to swap with then all the contract negotiation happens directly between the two parties and their lawyers.
Find out more about Hermitty here.
Getting in touch with us
We are all about online insurance so we can better understand your query if you send us an email or chat with us online (see the green button at the bottom right of screen). But do feel free to give us a call.
Phone:
0800 763 929
From Overseas:
+64 7 929 4126
Email:
[email protected]
Claims
Claims can be lodged and you can follow progress on your Initio dashboard. But you can also get hold of us using the following:
Claims Assistance (monday-friday 8.30-5.00):
0800 763 929
Claims Emergency Only (IAG after hours)
0800 560 333
Post
By Mail:
PO Box 19497, Hamilton
In Person:
6 Garden Place, Hamilton
Identifying and eliminating risks in your holiday home is important for the ongoing enjoyment of your property.
In 2013 the biggest cause of loss in holiday homes for Initio was water damage. This occurred in a number of cases where leaking or burst pipes caused significant damage while properties where unattended. Unfortunately this is only discovered when the would-be holiday makers arrive at the property to start relaxing.
Risk management includes prevention of loss or damage as well as general up keep of your property, our top tips for counteracting loss include:
- Turn off the water at the mains whenever tenants and family leave the property for periods of more than a week
- Clear guttering yearly
- Unplug your television, oven and other appliances to protect them from power surges
- Respond immediately to any concerns that tenants or visitors may have about the property’s condition
- Visit the property at least every 6 months to check for any signs of damage or run down structures, and repair if applicable
Be sure to practice these tips throughout the 2014 insurance period so that you can look forward to your next break.
Choosing the right tenant for your property
Choosing who you have living in your property can be one of the most stressful parts of being a landlord. Your property may have lot of your own time, effort, and finance in to getting your property just right, and having a “bad tenant” can put this all at risk.
Having insured against deliberate or malicious damage by tenants, we have seen our fair share of claims. From tenants have been just a bit reckless with the property, to the extreme of taking a golf club to the walls.
While having insurance will help get your property back to where it should be, it’s better to avoid the headache altogether by getting the right tenants in place. To help with this, we have prepared 3 tips for selecting the right tenant:
1. Beware of negotiators
Some negotiation can be expected on items such as dates, rent, or lawns. When the tenant is trying to negotiate down a bond, it can raise questions as to their financial position and cash reserves. Similarly, if they start haggling on the credit check or overdue payments, this may be a sign of trouble to come.
2. Rental property is a business
It can be tempting to rent your property to a friend or relative. You know the tenant, and don’t have to hassle with time consuming background checks or other formalities. However if something goes does wrong, you may find yourself in the tough spot of having to take a dear friend or relative to the tenancy tribunal or losing out on income.
3. Watching for the signs
When it comes down to choosing whether or not to select a tenant, there may be some red flags (frequent movers, no professional references, urgency to secure the tenancy) which could be explained. Others – such as wanting to pay in cash, or providing incorrect information/fake references – are a clear sign that this is not the best tenant for the property. Being familiar with the red flags will help you make the best decisions in who you let your properties to.
These points are a general view from claims that Initio has seen over the years. If you have specific queries about a tenant or application, or for further advice on tenants and property management, your local Property Investors Association is a great starting point.
Accident loss claim – November 2017
Background
Simon took out a landlord’s insurance policy with Initio for his property in Palmerston North in September. Not having used Initio before and only having one policy, he was like many clients and a bit unsure how his policy would respond if he had a claim. Two months after his policy inception date he got his chance to find out. Simon received a call from his tenant advising his daughter when going into the shower had slipped and crashed through the shower door.
Claim Process
Simon phoned a repairer straight away and organised them to come out and provide a quotation for a replacement door. He took some photos of the damage and called initio. Initio advised Simon to lodge his claim online and send through copies of the photos and quotation he had obtained from the repairer. Simon’s policy protects him again sudden and accidental loss to his property. The damage to the shower door was consistent with a sudden and accidental loss and he knew the exact time of loss the damage happened.
Outcome
It really doesn’t get more straightforward then this. Simon provided all the information required when lodging his claim. From the photos he supplied his insurer were able to assess the damage. After his policy excess was deducted a payment was made into Simon’s nominated bank account for repairs and replacement of the shower door. This claim was lodged and settled within 24 hours for just under $1,000.
All claims are different, and they are assessed on their own merits and facts. The above profiles do not imply a guaranteed approached all such claims
Until the government changes the standard, contamination over the current 1.5mg/100cm2 limit will trigger a landlord insurance claim.
It is concerning that the Real Estate Agents Authority moved so quickly to only declaring limits over 15mg/100cm2. Continue to do your due diligence when purchasing property as contaminated homes (over 1.5mg/100cm) are untenantable and uninsurable.
Status quo remains at Tenancy Tribunal post-Gluckman report
The Tenancy Tribunal has published its first orders on methamphetamine since the Gluckman report sent shockwaves through New Zealand last month.
The orders have been eagerly anticipated after the Prime Minister’s former Chief Science Advisor published a report last month saying that there was no evidence third-hand exposure to methamphetamine caused adverse health effects.
As a result, Housing New Zealand and the Real Estate Agents Authority quickly established new contamination levels of 15 micrograms/100cm2 for their businesses.
But it appears the status quo will remain at the Tenancy Tribunal until the Government establishes new ‘official’ standards in this contentious area.
All six orders published since the Gluckman report was released on May 29 follow Standards New Zealand’s NZS 8510:2017, which has a contamination level of 1.5mg/100cm2.
Only one Tenancy Tribunal order, application number 4128761, referenced the Gluckman report.
“There is currently some debate about the health impact of methamphetamine however I agree that the use of premises for an unlawful purpose is something to be discouraged,” the adjudicator wrote.
So it appears it’s business as usual for landlords and property managers until any legislative changes are made in this space.
For more information, read the full tenancy.co.nz article here.
There needs to be an inspection done every three months and in between tenancies to meet our landlord obligations under our landlord insurance policy. This can be done yourself or by the person who manages your tenancy (e.g. property manager). The inspection will need to confirm the interior and exterior condition of the property and you need to keep a record of the results.
These landlord obligations and inspections only need to be met if you are making a tenancy-related claim. These include tenant damage, meth contamination and loss of rent after a tenant is evicted or leaves.
If you don’t fully complete your inspections it won’t void your policy. The cover for non-tenancy claims like floods and sudden water damage are still covered.
Full Landlord Obligations
Can I complete inspections remotely?
At initio, we require an agent or a trusted representative physically present at the property for inspections. This ensures a thorough evaluation of the property’s condition and facilitates real-time reporting, serving as your on-the-ground resource. Advantages of having an in-person representative include:
- Real-time condition verification and data reporting during the inspection process.
- Being your dedicated eyes and ears on the ground, diligently checking the property’s condition.
- Early identification of any potential issues, damages, or repairs that could potentially be missed in a purely remote inspection.
However, we understand there may be special circumstances such as illness or lockdowns where remote inspections become necessary. These should be exceptions rather than the norm. In such cases, a trusted representative or official agent’s physical presence during the inspection is critical to maintain the assessment’s accuracy and comprehensiveness.
Looking ahead, we’re mindful of emerging technologies that could potentially streamline remote inspections. However, as of now, the value of in-person inspections is paramount. Always remember that our advice serves as a guideline, not an inflexible rule. Each property and situation may require a different approach, and decisions should be tailored to your specific circumstances and needs.
What happens if I can’t inspect my property every three months due to illness?
Initio’s landlord guidance is that you, or someone on your behalf, should carry out an internal and external inspection at least every three months, and also between tenancies. These inspections are an important part of meeting landlord obligations for tenancy-related claims, such as tenant damage, meth contamination, or loss of rent after eviction.
That said, if inspections aren’t completed exactly on time, your policy is not automatically void. Claims that aren’t tenancy-related (like fire, flood, or sudden water damage) remain covered.
For tenancy-related claims, inspections generally need to be done in person by you, a property manager, or another trusted representative. We do recognise that there may be special circumstances, like illness, where remote inspections are the only option. These should be the exception rather than the norm, and having someone physically present is always preferred to keep records accurate.
If you’re in a situation where inspections are difficult, please reach out to our team. We’ll be happy to talk through your options and help make sure you’re covered.
Further information
Please refer to the New Zealand tenancy services site for specific information around property inspections, including;
- your rights
- your tenant’s rights
- a sample inspection form
Get a quote
Related articles
Want to pay monthly but prefer not to use a Credit Card? Our card option also works with Visa Debit Cards
Most standard accounts with New Zealand banks offer the option to link a Visa debit card to an ordinary bank account. Debit cards work like credit cards but use the money in your connected bank account, avoiding interest fees. They can be used for:
- Contactless payments in-store
- Online shopping
- Overseas purchases and ATM withdrawals
You can control your debit card options, such as enabling or disabling contactless payments. Debit cards are useful for paying policy premiums with Initio, either monthly or annually. Each bank has its own criteria, fees, and application processes.
Contact your bank for further information on how to set up a Visa debit card should you wish to use this option.
This information provides general guidance. For the latest details on fees and conditions, please check each bank’s website.
Useful links
How can I pay my premium?
How does monthly insurance work?
Switching payment frequency
Can I pay with direct debit?
