You have the right to cancel your insurance at any time. However, most insurance companies don’t advertise this fact, and sometimes they make it a bit difficult to leave them.  We believe insurance companies should allow you to cancel and receive a refund as fast as they insure you, which is why our customers can cancel with the click of a button.

Will I get my money back?

Your insurance company must refund you the unused part of your premium (unless they have some hidden clause about keeping a certain percentage of your premium).  So, if you cancel your annual house insurance policy halfway through the year, you should be refunded half the premium you paid.

You have paid a certain period of insurance, so if you don’t use all of that period (because you want to change insurers, you don’t want cover any more or you have sold your house for example) then you are entitled to receive back the cover you have not used

Will there be a cancellation fee?

It depends on the company. There may be a small fee for processing the cancellation, it should never be more than $30.
Initio does not charge cancellation fees.  With initio, you can come and go as you please, and you get a full pro-rata refund of your insurance costs back if cancel a policy.

What do I need to do to cancel?

All you need to do is contact your insurance company and tell them to cancel your policy. Here are the steps:

STEP 1: First make sure your new insurance policy is in place (e.g. with initio).  The initio platform allows you to place cover instantly on a day of your choosing up to a month in advance.

STEP 2: Call or email your insurance company telling them to cancel your policy from the date your new initio policy begins. We recommend providing:

• Full Name
• Policy Number(s)
• Address
• Cancellation Date (same date as start date of your new initio policy)
• Bank Account Number (for refund to be paid to)

STEP 3: Check your bank account to confirm the refund has been paid.

Having trouble contacting your insurer?

Get in touch with our support team who will be happy to help guide you through the cancellation process with your existing insurer.

Once you’ve completed the steps above and are ready to start your journey with initio, simply get a quote online, set your start date, and you’ll be covered in minutes. It’s fast, easy, and built for people who want insurance sorted without the faff.

Buy House Insurance

Related Articles:

• Make changes to your house and contents insurance
• How to renew your annual policy
• Navigating your dashboard
• Can I pre-purchase a new policy?

This guide answers common questions about landlord insurance, tenants, and property use — including how family arrangements or business activities can change your cover.

Do I need to notify you when my tenants change?

You don’t need to notify us every time a new tenant moves in. But to stay covered under your landlord insurance, you must meet the landlord obligations:

• Choose tenants carefully
• Keep records of pre-tenancy checks
• Complete inspections at least every 3 months, and at every change of tenants (with written records and photos kept on file)

You can review these in more detail on our landlord obligations guide.

“Tools like myRent can help with tenant checks, tenancy agreements, and ongoing property management — it’s a handy way to stay organised and meet your landlord obligations.”

If the change involves a different type of tenancy – for example, switching to short-term guests or another arrangement that could affect your cover – please let us know so we can check you’re on the right policy wording. You can also compare our options on the ‘help me choose’ page

My family member ‘rents’ the house – what kind of policy do I need? 

If a family member lives in the home and pays rent under a tenancy agreement, you’ll usually need landlord insurance. This gives you cover for things like loss of rent or intentional damage by tenants. Read more on our landlord insurance page.

If it’s a second dwelling on your property that a family member lives in permanently and you don’t want/need specific landlord benefits such as loss of rents , this usually requires a separate own home policy for each dwelling. More details are here: second dwelling – family lives in it.

Examples:

• Your brother pays rent and you want to cover that rent income → landlord insurance
• Your parents live in a granny flat rent-free → own home insurance

What if my tenant wants to run a business from my rental?

Your tenant is responsible for arranging their own commercial insurance to cover their business activities. This is separate from your landlord insurance and not something we provide. See our guide: When do I need commercial insurance? 

If the business changes the way the property is used (for example, a salon, office, or childcare), it could affect whether we can provide cover.  Get in touch with us if you’re unsure – we’ll be happy to review your situation with you. 

Ready to make the switch to initio? Start with a quote

Related articles

• When do you need commercial insurance?
• Landlord obligations
• Have a second dwelling that your family lives in?
• Help me choose the right insurance
• Landlord insurance for multiple rentals

Whether you’re adding house, landlord, or holiday home contents to your insurance policy, the process is straightforward. You can add contents cover when getting your insurance quote by simply toggling it on in the quick quote tool. Once you have your policy in place, you can log into your initio dashboard at any time and adjust your contents cover to suit your needs. This flexibility means you can update your cover as life changes, without needing to start a new policy.

The main differences between our contents cover options come down to what’s covered and how it’s covered.

Own home contents:

This is the broadest option, covering personal belongings kept at your home. It also extends to some items temporarily away from the house, such as personal items you might take with you around New Zealand. Cover also includes limited perils for contents in transit when you’re moving between homes.

Get house insurance

Landlord contents:

This is limited to items you’ve provided at the rental property, such as appliances, furniture, or curtains for the tenant’s use. It doesn’t cover tenants’ belongings, as they’ll need their own contents policy. Cover is restricted to the property address and excludes things like your personal items, linen, or leisure gear or items you’ve stored at the address.

Get landlord insurance

Holiday home contents:

Similar to landlord cover, this applies only to contents kept at the holiday home address. It typically includes furniture, whiteware, and general household fittings. Owner’s personal belongings, expensive hobby equipment, or anything stored off-site are not included.

Get holiday home insurance

Tip: If you’re unsure what your contents are worth, you can use the CoreLogic contents calculator to get a better idea before setting your cover level.

Can I get contents insurance by itself?

It’s worth noting that initio does not currently offer stand-alone contents insurance. To get contents cover, it must be added to an active insurance policy for the same property. If you only need to insure your contents, such as when you’re renting or not insuring the home itself, initio is not able to provide contents cover.

Related articles

• Understanding difference between contents cover options
• Are there limits to how much I can claim for my contents?
• What items are automatically covered under my house contents insurance?
• What items do I need to specify?
• Things we don’t cover
• How do I change my contents cover?
• Contents calculator

Is it beside or attached to where you live?

What kind of insurance do you need?

If you have two dwellings/units on your property and you rent one out long-term (90 days or more), there are some important things to consider when it comes to insurance.

What counts as a separate dwelling/unit?

If you’re renting out a second dwelling/unit – such as a separate or attached granny flat, a separate unit, or a converted space – it’s considered separate from your household. Even if the rental is on the same property title, the tenant is not part of your household. You might have a formal tenancy agreement in place, or a more casual flat-sharing or boarding arrangement, but the key point is that they’re living independently from you.

If this matches your situation:

• Your second dwelling/granny flat is rented out long-term (90 days +)
• The second dwelling/unit has it’s own facilities and the tenant lives independently there.
• You might have a tenancy agreement, flat-sharing or boarding arrangement in place

Then you’ll need:

Two separate insurance policies to make sure you’re properly covered:

1. House insurance (Own Home policy) – Covers the home you live in, protecting the structure itself. Also safeguard your personal belongings by adding contents insurance.
2. Landlord insurance (Rental policy) – Covers the rental home, including damage caused by tenants, additional loss of rent, and liability protection.

Why separate policies matter

Our standard home and landlord (rental) policies cover only one home or unit per policy — even if they are connected, share the same address, or are on the same property title. In addition, each home/unit has different insurance needs, and having separate policies ensures you’re covered correctly and for the right things.

Get cover today

With initio, you can get a quick quote for each and buy insurance online in minutes, making it easy to ensure both your home and rental property are fully protected.

Buy House Insurance     Buy Landlord Insurance

Need help? If you’re unsure about what policies are right for your situation, contact us to make sure you’re fully protected.

Get covered today with initio – Quick quotes, easy online cover.

Not quite what you’re looking for? Maybe some of these other scenarios suit you better:

• Renting out part of your home short-term
• Renting out a second dwelling solely for short-term stays
• Insurance for a non-rented second home on your property
• Second dwelling on your property that your family lives in
• Renting out two dwellings on your property

Running a business from home has become increasingly common, but knowing when your home insurance is enough – and when you need to look at commercial insurance – can be tricky. Here’s what you need to know.

Initio’s home products cover your residential home and any domestic outbuildings used for residential purposes, so long as they’re within your home’s residential boundaries.

Unless agreed otherwise, your policy will usually not cover any part of the home or any outbuilding used for business or commercial purposes, other than a home office.

Does house insurance cover your home office?

If you have a room in your home or an outbuilding that you use solely as a home office for clerical purposes then your policy will cover that part of the home. This is especially true if you’re simply using a space for paperwork, meetings, or computer-based work – something that doesn’t involve much physical activity or storage of stock.

If you have home contents insurance insured with initio, your own home contents cover is also extended to include office furniture and office equipment that is used for earning income. The furniture and equipment are covered for up to $10,000 whilst at the home and for up to $1500 whilst temporarily removed within New Zealand.

When you need Commercial Insurance;

For your Home

As soon as your home business goes beyond a simple home office or consultancy work, you’ll likely need a commercial insurance solution or special terms. If you’re storing stock, using specialised equipment, or running a business that involves physical labour (even if it’s within a garage or basement), it’s likely that standard home insurance won’t be enough. When you run any business from your residence (outside of a home office) we recommend getting in touch for specific advice. Depending upon the type and extent of the business, you may require commercial insurance. An example of such, would be a wood-working business run from the garage, whereas an occupation such as beauty therapy being run from one room can potentially be included in your home policy by agreement with the insurer.

For your contents

If you use tools or equipment from home to earn income, such as a builder’s or mechanic’s tools, it’s important to know that they are not covered under your standard home contents insurance policy. Even if you use these items for personal reasons, they require commercial insurance if they’re also used for work.

A common scenario is when tools are stolen from a car or home. You make a claim, but the insurer declines it because the tools are classified as income-earning equipment. Some may assume they can claim under their employer’s commercial policy, which often provides for ’employee tools.’ However, these claims are usually subject to a much higher theft excess, typically $2500.

To avoid this, it’s best to organise your own commercial insurance for tools and contents used for business purposes. Keep in mind, commercial policies come with higher excesses. Typically, these might look like:

• $500 standard excess
• $1,000 burglary excess (forced entry or exit)
• $2,500 theft excess (no forced entry or exit)

By getting the right cover in place, you can avoid surprises if something goes wrong.

Your liability

Our owner-occupied home policy covers your liability for activities you undertake as a homeowner and our landlord policy covers your liability for activities you undertake as a landlord or provider of short term holiday home accommodation . There is no cover provided for any liability arising from other business activities. If you own or run a business from home, you would need to arrange separate liability insurance cover through a commercial insurance provider or broker, which may include a public and products liability policy, and statutory liability policy.

Case-by-case

Ultimately, each business is different, and insurers will assess whether your business falls under home insurance or requires a commercial policy on a case-by-case basis. If you’re unsure, it’s always best to check with your insurance provider to make sure you’re properly covered.

In summary, once your business grows beyond a simple home office, it’s time to consider a commercial insurance solution to protect your assets and operations.

Useful links

• Things we don’t cover at initio
• What kind of insurance does initio cover?
• Help me choose my insurance
• How property use affects your cover

We can insure properties that are rented out to short term guests like Airbnb, but there are some requirements.

You need to purchase the correct policy, depending upon your specific situation.  We have an option for the residence where you live occasionally let on Airbnb and also an option for your family holiday home that is also occasionally let on Airbnb.

We can’t cover a house or unit that’s used strictly for short term guests, and not by yourself or family. This is because it’s considered more like a commercial operation similar to a motel, and a commercial insurance cover is more suited.

Alternatively, if you are handing your property over to a holiday home management company under a full management contract, where they effectively have control over your property, then for the purposes of insurance it is not considered your holiday home and we will not be able to provide cover. This is because with a full management contract you lose your entitlement to occupy the property whenever you wish, which means that there is no cover provided by the Natural Hazards Commission (NHC). We cannot provide cover if the NHC is not providing cover.

Examples of what we can cover

• Secondary house you use occasionally for yourself and your family (e.g. beach house rented on Airbnb when you’re not there).
• Second living unit at your house rented to short term guests, but used by yourself and family when it isn’t rented.

If you have a holiday home that you sometimes rent to guests, to qualify as a holiday home, the owner must;

• demonstrate use of the property, and;
• Have the right to occupy the property at will, and;
• Store personal belongings at the home.

Examples of what we can’t cover

• Holiday home you rent on Airbnb or similar guest site that you don’t use yourself.
• Extra living unit at your main house that you rent only to short terms guests, and don’t use yourself.
• House or Lodge with a Bed & Breakfast function for short term guests.
• Property managed by a commercial organisation that’s set up to rent the property to guests on your behalf.
• Properties where your tenant sub-lets to others, other than a long term flatmate arrangement

If you’re still unsure about your property, you can contact us.

Learn more

• Holiday homes, rented to short-term guests
• Home and paying guests
• Insuring your home with an attached flat
• Should you rely on the Airbnb host guarantee?

Your initio dashboard is your secure online space to manage your house and vehicle insurance in one place. From here you can make a claim, update your details, download important documents, renew or cancel your policy at any time. It is designed to give you full control of your cover, without needing to call or email.

When you purchase your first house or vehicle policy with initio, you will create an account as part of that process, giving you access to online management of your policies. At initio we refer to the area where you manage your covers as your ‘dashboard’.

Initio’s online dashboard is designed for you to manage your policies, make claims, update your details, or even cancel your policy, without needing to call or message us. This makes it easy to check on your covers, claim, download documents and make changes as required, all from one place and with instant confirmation.

Quick summary:

• Manage your house and vehicle insurance online, anytime.

• Make a claim, update details, renew or cancel in one place.

• Download your policy schedule and certificate of insurance instantly.

• Only the property owner can be the main account holder.

• Update payment card and contact details through your profile.

• Start new quotes and add policies from your dashboard.

• Get help via support articles or Chatbot Chad.

How to log in to your dashboard

Following your first policy purchase with initio, you will immediately receive a welcome email from us.

To log into your account, click the button at the top right-hand side of the initio website. Enter the email address used for your purchase and the password you used when you created your account.  This will give you access to your dashboard.

What you can do in your dashboard

Once logged into your initio dashboard, you’ll have full access from any device, at any time. 

Here’s what you’ll see:

View your account overview

If you hover over the account button in the top right corner you will see additional options of “dashboard”, “profile”, “credit card” and “sign out”. 

Update your profile

One of the first things you may want to do is update your password to something more secure or easier to remember. You can do this through the “Profile” section. From there, you can also update your email address, phone number, postal address and password. Whilst you can view the contact name details, if you need to make a change to those, please let us know via phone (0800 763 929) or email ([email protected]).

Don’t forget to click on the update button once you’ve made any changes.

Update your contact details

For security and legal reasons, we can only allow the property owner (you) to be recorded as the main account holder for your insurance.

This is because the main login has full authority to manage your policy, including signing legally binding documents, changing cover details, and updating or accessing your payment and banking information.

While we’re happy for your property manager to be added as an authorised contact to help with day-to-day matters, it’s important that full control of your insurance stays with you as the owner. This protects your interests and ensures any major changes are properly authorised.

Should you need to lodge a claim, you can include details of your property manager within the online claim form if you wish them to assist with the claim management.  The initial claim form, however, does need to be completed by you.

Update your payment card details

If you are paying for any of your policies monthly, the system will automatically process the transactions to your card used for the initial purchase.  If your credit or debit card expires, is lost, or replaced, or you wish to change the payments to a different card, you can quickly view and/or update the card details here.

You can also log out of your dashboard from this section.

Your dashboard

Use this button anytime to navigate back to the main dashboard screen.

Sign out

Use this option to sign out of your account on the browser/device you are using.

Lastly, you’ll find contact information and quick access to our support articles if you need further assistance.

Get a new quote or add a policy

You can easily obtain a new quote or add a new policy through your initio dashboard.

To the right of the property’s address, you’ll find two green buttons: “House Insurance +” and “Car Insurance +.” These will guide you through the process of first obtaining a quote and then if you wish to continue, starting a new policy, whether it’s for another house or vehicle.  The new policy will then also be stored on the same dashboard for easy management.

Don’t forget to ‘save your quote’ by emailing yourself a copy.  This can then be restored at anytime from your email inbox.

Claim, change, invoices & cancel

Below each property’s address/policy, you will see the above options to;

• “Claim”
• “Change” – update your policy, i.e. bank/mortgage details, amend your sum insured, excess, etc. 
• “Invoices” – view and/or download historical invoices, obtain copies for your accountant.  If you need an annual financial summary of your monthly payments for Tax Purposes, please contact the support team.
• “Cancel” – cancel your policy, any refunds will also be automatically calculated as part of this process.

Within 30 days of any policy’s annual anniversary, you will also see another button called “review & confirm”.  Use this button to view, customise and/or pay for the upcoming year’s insurance.

All of this can be done directly through your dashboard.

If you need further guidance on how to complete some of these tasks, check out our support articles:

• How do I make a claim

• How to make changes to your policy

• How to cancel your policy

Cover details +

Underneath your property’s address is a button with “Cover Details+”. If you click on this button, it will open up a section that allows you to perform quick changes as well as find the important documentation for downloading. 

Important documentation

As a digital insurance provider, all your key documents, such as the latest policy schedule, policy wording, and bank certificate, are issued as PDFs rather than paper copies. 

You’ll likely use this section when you need to provide a bank with confirmation of cover, ie. a certificate of insurance.  If you’re a landlord you will also find the tenant insurance certificate(s) in this section also.

These documents will be emailed to you when you first purchase your policy, but they are also stored on your dashboard, making them easy to access and download whenever needed.  If you do need a printed copy, you can download and print these from home at any time.  

If you need a document that is not available from your dashboard, such as an older policy schedule (for a previous insurance period), please get in touch with our support team and they will be more than happy to assist.

Getting help from the dashboard

Chatbot Chad

Along with our helpful staff we also have our AI chatbot Chad, he is always available if you have any questions or need some general help. Simply click the “Help” button at the bottom of the dashboard for assistance.  If there’s something he can’t help with, you can always escalate the query to our support team via the same chat option (during business hours).

Video overview

Not a fan of reading? We’ve got you. Check out our video overview here:

Useful links:

• How do I make a claim
• How to make changes to your policy
• How to cancel your policy

How do I get a quote with initio?

Getting a house insurance quote with initio is quick and simple. Just pop your property address into our quick quote tool and we’ll do the heavy lifting for you. You’ll see your premium instantly and can customise your cover to suit your needs.

When you’re ready, choose either annual or monthly payments and follow the prompts to buy online – no paperwork, no waiting.

For more details, check out our step-by-step guide to buying your first house insurance policy.

What information do I need to get a house insurance quote?

Most of the time, all you need is your property address, and our quick quote tool will pull in the important details. You might just need to answer a few simple questions, including:

• Approximate house size (no exact measurements needed)
• Estimated rebuild cost (your “sum insured”)
• Age of the home
• The date you want cover to start

Not sure about your rebuild cost? Our quote tool links to the Cordell SumSure Calculator, which helps you estimate it. You can also read our guide to choosing your sum insured for more details.

How fast can you really get a quote?

This short demo puts our quote tool through its paces to show how fast and easy it is to use.

How do I log in?

If you already have a policy with initio, you’ll have access to your dashboard to manage your insurance. Login details are emailed to you when you buy your policy. Login here

To log in:

1. Enter the email address you used when purchasing your policy.
2. Enter your password.
3. If you’ve forgotten your password, click Forgot my password and follow the steps.

If you’re not sure which email you used, contact our team, we can help.

Logins are only provided once you’ve purchased a home policy with initio.

Calculate your sum insured

Related articles

• What is initio and how does it work?
• Common queries
• Navigating your initio dashboard
• How to make changes to your policy
• Code of compliance
• Explore our video library

There can be unfortunate scenarios where you may have to pay your excess more than once when you make a single house insurance claim.

We try to make insurance transparent for everyone, but there are insurance conventions that we have to work with.  Applying an excess per incident can be particularly annoying if you’re not aware of it, so here’s some help to mitigate any future frustration.

Firstly, what does house insurance usually cover?

You might already be familiar with this. House insurance covers sudden and accidental events – something unexpected that results in physical damage. This will extend to intentional damage by tenants if you have landlord’s insurance.

Your house insurance won’t cover gradual damage over time such as rotting weatherboards. Like humans, houses need maintenance to stay in working order. There is no sudden (or unexpected) event that’s causing the rotting, so there’s no insurance claim.

If you have some unexpected damage, you’ll then need to pay your excess before your insurance kicks in. However, it’s not as straightforward as it sounds – because the excess applies to each insurance ‘incident’ and not just to each claim.

So, what’s considered an ‘event’?

The ‘incident’ is the time and place the damage or loss occurred.

For example, if something caused a hole in the wall on two different days, and in two different rooms of the house, then those would be seen as different ‘incidents’ – even if the landlord found all the damage on the same day and lodged a single claim.

Each separate incident could result in a separate excess being payable on each. Which can be a nasty surprise.

Why does this have to apply?

Trust us, this is something we want to avoid, but there is a reason it applies.

If a landlord could group all bits of damage over a tenancy into a single claim with a single excess charge, you could claim on any little dents and damage around the house. House insurance would begin to look like a property maintenance cover, and ultimately the premiums and volume of claims would become astronomical, and make insurance unaffordable for everyone.

What does a ‘multiple incident’ claim look like?

The most common example we see is when a tenant moves out, and the landlord discovers they’ve left behind a lot of unreported damage – holes in walls, stains in carpets, doors with broken hinges etc.

The landlord then files a single claim for recovery of all the damage. However, if it’s clear the damage was from multiple ‘incidents’ over the course of the tenancy, an excess is applied to each one.

This means the insurance payout is either much lower, or the claim will not proceed if all the excesses exceed the repair costs.

Stains in carpet – a sight all too familiar for landlords.

Exceptions to the rule

It isn’t always the case that an excess will apply to each piece of damage. This is where it can become a little technical, and on a case-by-case basis.

Multiple bits of damage at the same time

Sometimes multiple incidents are considered to be the result of a single source event, and only one excess will apply.

• For example, if a tenant is given eviction notice, and decides to take this out on walls in anger before they leave; or if a party gets out of control, with predictable damage to doors, windows and carpets.

In these examples there is a single source that caused the event in an approximate time period. The interpretation of the source can be subjective, and every claim has its unique circumstances and will be considered on its own merits.

One excess per room

Policies are designed to cover damage resulting from a single event. When a ‘single event’ cannot be confirmed, most insurers apply an excess to each incident, meaning each stain/dent etc. However, at initio we believe this approach can be unfair, so we endeavour to apply one excess per room, per item of damage (one excess for wall damage in a bedroom, one excess for carpet damage in a room).

What about those ‘one excess’ advertisements?

Paying an excess per incident is standard practice. When insurers advertise that they charge only ‘one excess’, they are usually referring to a single event that causes damage across several policies.

For example, if a flood soaks your garage, car and some loose contents, you might only have to pay one excess – usually the highest. It’s one of those ‘check the fine print for the asterisk’ sort of promises.

What you can do to manage this risk

The best way to avoid all of this is to keep on top of the condition of your property with regular inspections. This will help identify bits of damage before they become widespread. If you’re recording the house’s condition for each inspection, you’ll also have a better idea of when damage was caused.

The best form of risk management is being a proactive landlord. Most landlord policy wordings include requirements, called landlord obligations – that you should get yourself familiar with.

Meeting these are a great way to reduce your risk; like screening tenants, monitoring rents, doing regular inspections and collecting a bond at the beginning of a tenancy.

Insurance is a two way agreement. The more you do to manage your risks, the better chance you have of avoiding an ugly multiple excess claim.

Related topics:

• Demystifying insurance excess
• What is and what is not covered
• Is the cause of damage covered?
• Am I covered for pet damage with initio insurance?

This is a question we’re asked all the time.

To make it easy, we’ve built custom policy comparison tools so you can do a side-by-side comparison to other popular New Zealand insurance companies.

If your insurance company isn’t included or there’s something you want us to add, let us know.

Compare house insurance

House Insurance Comparison

What makes good house cover?

Policy benefit limits will be different between insurers. You should look out for benefits like Alternative Accommodation and Hidden Gradual Damage and see if they are enough for you.

Conditions between policies also vary, but are less obvious. For example, different conditions will apply to unoccupied houses.

Extra benefits like no-excess glass cover can add value to your policy. These are often optional benefits, so you should check they are included when comparing price and cover.

Price versus cover

Choosing the cheapest premium is not always the best option.

A bare-minimum policy may save you money now, but you might be disappointed by the cover when you need to make claim.

You should compare how much cover you are getting, with the premium you are paying.

Understanding your house insurance policy will ensure you are getting the right cover at the best price.

Compare landlord insurance

Landlord Insurance Comparison

Landlord protection

A landlord insurance policy will typically have additional cover that a standard house insurance policy does not include. These are often called a Landlords Extension or Landlords Protection.

This provides cover for loss of rent, accidental and intentional damage by tenants, meth contamination and landlord contents cover.

These are designed to minimise the risks of renting your property. For example if your property is smashed up by the tenants there is malicious damage cover. If your house is flood damaged and can no longer be rented there is further loss of rent cover.

The level of loss of rent, meth contamination and malicious damage cover is very important to consider when comparing landlord insurance policies.

The house itself

You should also consider the level of cover provided by a policy for the physical house itself.

Almost all policies will fully cover the big risks like natural disasters, floods and fires. The difference of a more comprehensive policy will be in the additional extensions on top of the basic cover.

Extension limits vary between policies. You should check that they are adequate for your requirements. Common extensions include Hidden Gradual Damage, Keys & Locks, Retaining Walls, and Pipe Blockage.

Comparing conditions of policies are also important. For example, you might need cover for pet damage at your rental.

Related Articles:

• How to switch from your current insurance provider to initio
• What are initio’s products?
• Technology you can trust
• What we don’t cover at initio

Does initio offer cover for loss of rent?

Yes – our landlord insurance includes loss of rent protection in these situations:

• Your rental becomes uninhabitable due to sudden, accidental damage covered by the policy (like fire or flooding) – We’ll pay up to 12 months’ rent, capped at your selected loss of rent limit.
• Your tenant is evicted for non-payment, or vacates the property without notice  – We’ll pay loss of rents following the eviction, or until you find a new tenant for up to 6 weeks (excludes overdue rents prior to the eviction).

Learn more about how loss of rent works

What does loss of rent cover?

Loss of rent cover helps protect your rental income. Here’s a breakdown of how it works under initio’s landlord insurance:

You’re covered for:

• Uninhabitable home: If the property can’t be lived in due to insured damage (e.g. fire, flood, meth contamination), we cover up to 12 months’ rent, up to the limit shown on your policy.
  
• Loss of rent following eviction of the tenant for non-payment of rent during the period of cover. We will pay for any event up to 6 weeks’ rent, less any amount recoverable by you from rent paid in advance
• Abandonment: Loss of rent following the tenant vacating the home without giving the required notice during the period of cover. We will pay for any event up to 6 weeks’ rent, less any amount recoverable by you from rent paid in advance.
  
• Access or utility issues: If your tenant can legally stop paying rent due to loss of access or failure of public utilities, you’re covered for up to 6 weeks’ rent.
  
• Meth contamination: If your property is contaminated during a tenancy and you’re covered under the meth benefit, we’ll also cover up to 12 months’ rent, based on estimated repair time.
  
• Tenant damage: If the home becomes uninhabitable due to intentional damage, theft or vandalism by a tenant, loss of rent may also apply under the standard 12-month cap.

If you’re still unsure, you can reach out to us directly – or even use an AI chat tool to quickly search your policy for specific details – just remember to always double-check the results!

Learn more about how loss of rent works, alternatively, read the full policy wordings.

Why does loss of rent cover matter?

If you rely on rent to cover mortgage payments or other bills, this protection is essential. It gives you breathing room while your property is repaired or re-tenanted.

Tip: To claim under most loss of rent scenarios, you’ll need to meet your landlord obligations, including regular inspections and proper tenant vetting.

What happens if my rental property becomes uninhabitable due to a natural disaster? 

If your rental property becomes uninhabitable due to a natural disaster, initio’s landlord insurance covers loss of rent. This means if your property is damaged and tenants have to move out, you can claim for the rental income you would have otherwise received while repairs are being made. The standard cover includes $20,000 loss of rent, with options to increase this amount. Payments continue until repairs are completed and the property is rentable again, up to the cover limit or 12 months, whichever comes first.

Learn more about loss of rent cover through initio.

Do I have to include loss of rent and landlord contents cover with initio? 

Yes. Loss of rent and landlord contents are standard features of initio’s landlord insurance, and they can’t be reduced or removed from the policy. Every policy includes at least $20,000 loss of rent cover (with the option to increase this limit) and $20,000 landlord contents cover.  These benefits are included to protect you against some of the most common risks landlords face. Read the policy wordings here.

Ready to protect your rental property? Get a quote in seconds and cover in minutes

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• What does landlord insurance cover?
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• Thinking about becoming a landlord and renting out your home?
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When you have had claims you may have to pay more premium on your insurance. Don’t be offended, insurance companies are just trying to automatically place a price on the risk of the driver. In insurance driving this is called ‘pricing risk’.

Car insurance is a bit different to house insurance in that when you claim on your house insurance the vast majority of the time it is something outside of your control, like a storm blowing your roof off or a burst water pipe.

However, the typical car insurance claim does have something to do with the driver of the car. While it’s not always the case, the driver (and policyholder) can be at fault if they lost control of the car and crashed.

Naturally, some drivers are more likely to have accidents. For example, young inexperienced drivers are more likely to crash than a middle aged driver in say their 40s. Insurance companies will price this difference into their base premium rate calculation.

Even within these groups (i.e. under 25 year old drivers) there are subgroups of drivers that are more prone to accidents.

In general insurance companies try to balance long term claims payment trends between good and bad drivers. If someone uses their policy more and is paid out 1 more insurance is it fair that they pay the same premium as someone that has never made a claim?

The way insurance companies try to gauge this is by assigning a Driver Grade to the person applying for the cover.

This is what they are trying to do when they ask you to disclose how many car insurance claims you have had in the last five years.

Why do we only care about claims in the last five years?

Don’t worry, we (and most insurance companies in general) know and expect that the average driver is going to have a car insurance claim in their lifetime.

People’s driving habits change over time so how you drove 20 years ago is not likely to be reflective of how you drive today. Insurance companies realise it’s unrealistic too look too far back into the past. Someone that had three accidents all over 10 years ago does not reflect their driving today.

Therefore you will only be asked about claims in the last five years. If someone has had 3 accidents or claims in the last five years there is a good chance the driver is more dangerous than the average.

Do I pay an excess when I am not at fault?

If you are at fault for an accident, or admit liability you will need to pay your policy excess on your insurance payout.

If you are not at fault, and you have the details of another party who caused the crash and who admits liability its unlikely you will have to pay an excess.

Some particular items of your policy may not have an excess that applies to the cover. Examples include theft, or windscreen damage. You should check your policy for these.

In all other cases it’s most likely that you will have to pay your excess even if you’re not at fault. If you have a crash with another driver, but you are unable to get their details there’s no definitive proof of who was at fault, and you will generally have to pay the excess on your policy.

How do Insurance companies apply the Driver Grade?

Some insurance companies will ask you to only disclose claims where you were ‘at fault’. We ask you to disclose any claims where you were either at fault, or paid the excess on the policy. We are not saying that every claim where you have paid the excess is one that is your fault, but we are trying to offset and balance premiums between those that have used their policy for payouts, and those that have not. It’s only fair.

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Related Articles:

• Am I still insured if I crash without a warrant?
• How do I buy my first vehicle policy with initio?
• What is driver grade?
• Is your windscreen damaged?

We currently offer Landlord insurance, Landlord insurance for multiple attached units, Own home and contents insurance, House flip insurance, Car insurance, Holiday home insurance and we also have an add-on for Short term paying guests insurance (e.g. Airbnb) for your home or holiday home.

All our 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. Learn more about financial strength rating.

We’re constantly working on new and exciting products and features that are designed to improve our customers experiences. We would love to hear your feedback.

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• How property use affects your cover
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Contents cover with initio protects the things you own inside your property, but what’s included (and how it’s covered) depends on the type of policy you have.

Whether it’s your own home, a rental, or a holiday home, the level of cover and the items it applies to are different.
This guide explains each type so you can choose the right cover and set an accurate contents sum insured.

Own home contents cover (Owner Occupied)

If you live in the home yourself, contents cover protects your personal belongings from sudden and accidental loss or damage – whether they’re inside the home, in transit, or temporarily away from home.

Key features:

• Repair or replacement – Most items are covered on a replacement basis, meaning we’ll repair or replace them with new (if it’s economical to do so). Items like clothing, books, and certain electronics are covered for their present value.
• Coverage away from home – Your contents are covered when temporarily removed, whether they’re in storage with prior approval, travelling anywhere in New Zealand, or on short overseas trips to Australia and the South Pacific (up to $5,000 per trip).
• Extra benefits – Includes cover for things like alternative accommodation, contents in transit, home office equipment, hidden gradual damage, keys and locks, frozen food, and stress payments after a total loss.
• Limits for certain items – Jewellery, watches, cash, and similar items have set limits unless specifically listed on your policy.
  See our guide on what’s a specified item and when you should list it for more details.

Landlord contents cover

If your property is rented out, landlord contents cover is for the household items you own that stay at the property for tenants to use – for example, curtains, whiteware, or furniture. Cover is limited to the insured property address.

Key differences:

• Cover type – Items less than 5 years old are replaced with new equivalents; older items are covered for their present value.
• Location-specific – Contents are covered while they’re at the insured rental property or in transit to it (with prior approval if in storage).
• Tenant-related risks – Includes extended protection under your landlord’s policy for intentional acts, theft, or vandalism by tenants (up to $25,000 combined for the home and contents, within which the contents sum insured applies).
  Learn more about landlord’s protection and intentional damage cover.
• Meth contamination – Covers loss to contents caused by contamination, within the overall limit for meth claims shown on your schedule.
  See our meth contamination cover guide for details.
• Natural disaster – Covered on the same terms as the home, up to your contents sum insured.

Common landlord contents examples:

• Curtains, blinds, and other window coverings
• Carpets, rugs, and floor coverings not permanently fixed
• Light fittings and lamps that aren’t part of the building structure
• Whiteware like fridges, freezers, washing machines, dryers, and dishwashers
• Freestanding stoves or microwaves
• Furniture such as couches, beds, tables, and chairs (if the rental is furnished)
• Heat pumps or portable heaters that aren’t fixed to the property
• Outdoor furniture and BBQs provided for tenant use
• Small appliances like kettles, toasters, and vacuum cleaners

Examples of what’s not covered: Owner’s personal belongings, vehicles, watercraft, pets, or items not kept at the insured address.

Holiday home contents cover

Holiday home contents cover works much like landlord contents cover – it applies to the items you keep at the holiday home for your own use or for guests. Cover is limited to the insured property address.

Key points:

• Similar cover to landlord contents – Replacement for items under 5 years old, present value for older items and certain categories.
• Guest or short-term rental protection – If your holiday home is rented out at times, tenant-related intentional acts or theft may also be covered under the same landlord’s protection and meth contamination benefits.
• Seasonal occupancy rules – To maintain cover while the home is unoccupied, the home must be inspected regularly and basic security and maintenance steps followed.
  See our holiday home insurance tips for keeping cover valid.
• Natural disaster – Covered up to your contents sum insured, with the same EQC top-up process as for landlord policies.

Common holiday home contents examples:

• Bedding, linen, and towels
• Kitchenware (pots, pans, utensils, cutlery, crockery, glassware)
• Whiteware (fridges, freezers, ovens, microwaves)
• Furniture for living areas, bedrooms, and dining rooms
• TVs, stereos, and entertainment equipment
• Outdoor furniture, umbrellas, and BBQs
• Hobby and leisure gear typically kept for guest use (e.g. board games, puzzles, books)
• Small appliances like coffee machines, blenders, and toasters
• Décor items like lamps, cushions, wall art

Examples of what’s not covered: Owner’s personal belongings, high-value sporting equipment not kept for guest use, vehicles, watercraft, pets, or items not kept at the insured address.

Tip: When setting your contents sum insured, think about what’s actually at the property. For your own home, this means everything you own. For a rental or holiday home, it’s just the items you provide for tenants or guests.

If you’re unsure where to start, use the CoreLogic contents calculator to help estimate the replacement value of your belongings.

If you’re still unsure, you can reach out to us directly – or even use an AI chat tool to quickly search your policy for specific details – just remember to always double-check the results!

Ready to begin your journey with initio?  Start with a quote

Can I get contents insurance by itself?

It’s worth noting that initio does not currently offer stand-alone contents insurance. To get contents cover, it must be added to an active insurance policy for the same property. If you only need to insure your contents, such as when you’re renting or not insuring the home itself, initio is not able to provide contents cover.

Related articles:

• What items are automatically covered under house contents insurance?
• Are there limits to how much I can claim for my contents?
• Guide to landlord insurance
• Do I have contents insurance?
• How do I add contents insurance to my policy?

If you’re lucky enough to own a holiday home, you’ll want to make sure you’ve got the best insurance protection, especially considering you’ll not always be there in person to look after it. Whether you keep it for personal use or decide to rent it out to short term guests – we’ve got you covered.

Standard house insurance requires someone to be living at the home for more than 60 consecutive days. If it’s vacant for longer than this, it’s considered a holiday home. Because a holiday home isn’t your primary residence there are more risks involved, for example; the property may be empty for long periods of time, increasing its chances of break-ins. 

What are my obligations?

We expect holiday houses to be empty more often, so our conditions are a little more lenient, but we do require:

• You or your family stay at the holiday house at least once a year
• The house is inspected (inside and outside) by you or a nominated person at least every 60 days 
• The home and its grounds are maintained 
• Mail is cleared regularly 
• Water supply is turned off 
• All doors and windows are secured when the home is vacant.

If you can’t meet these conditions, then a standard $5,000 excess will apply to your policy. Alternatively, if it’s fitted with a professional alarm* this will reduce to $1,000 when you claim for a break-in or burglary.

* Systems which include 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)

How do I get holiday home cover?

It’s as simple as selecting holiday home as the property type when you generate your instant quote. Alternatively, if you are changing your current home into a holiday home, all you need to do is change your cover in the property type drop down menu. The monthly costs will automatically update and will take effect as soon as you confirm the change online. 

Holiday home or rental insurance?

The main difference between holiday homes and year round short term rentals is how often they are rented out. We have multiple options available depending on how frequently you rent your house out – just select the right option in the dropdown menu and initio’s clever software will do the rest. If you’re not sure which is the best cover for you, get in touch anytime. We’re here to help.

At initio, we offer comprehensive protection for your bach or holiday home, with flexible cover if you also rent to guests. Learn more: https://initio.co.nz/holiday-home-insurance/

This guide is intended to be a quick reference to vacant houses. We recommend reading the full policy wording for the full details of your holiday home coverage.

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• Own home or holiday home insurance – which is the right option for you?
• Holiday Home insurance
• Should you reply on the Airbnb host guarantee?