Trade Property Insurance

Month to month property insurance for a property purchased with the intention of selling. Trade property insurance is exclusive to existing initio customers


Trade Property Insurance

Trade Property Insurance in an instant

Its online and its easy.  Login to your dashboard, get a quote and start cover online in minutes. A month to month insurance policy means that you don’t need to fork out a full year’s insurance upfront.  When you sell your property simply login and stop the cover.

The right insurance cover

Trade Property insurance provides protection for all the important events including fire, earthquake, flood, burglary.  It also provides cover while the property is being spruced up, and being staged with contents.

The best in the business use initio for Trade Property Insurance

Initio is proud to support members of My Properties.  A community of property investors providing knowledge and support for trade property endeavors.

Exclusive:  Insure your rental property, own home, or holiday home

We don’t give trade property insurance to everyone.  Its for existing initio customers only and is accessed through the personalised dashboard.  Insure your own home, rental property, or holiday with initio to get an initio dashboard

initio landlord insurance policy

Trade Property Insurance Features

Comprehensive House Insurance

Cover up to your chosen Replacement Sum Insured.
All the important things like Fire, Earthquake, Flood

Contents

Staged furniture and other contents items
Cover from $20,000 - $60,000

Major Malicious Damage

Fire & Explosion covered up to
the Replacement Sum Insured

Burglary

Cover for break-in losses.
$5,000 excess reducing to $1,000 if monitored alarm installed

Owners Legal Liability

$2 million of cover
Includes Bodily Injury and Defence Costs

Natural Disaster

Includes EQC Cover
Plus top up to the replacement value

Retaining Walls

Included up to $25,000

Accidental Damage

Exactly what this policy is designed for.
Cover up to your Chosen Replacement Sum Insured


Common questions about Trade Property Insurance

No.  Thats why initio is so good. You can insure the property on a Month-to-Month insurance policy.  When the property sells you can simply turn the cover off through your online dashboard.

Trade properties are not the flashest risk from an insurance point of view, and on average we would only receive 3 months premium.  Trade properties are vacant for long periods and the renovations also increase the likelihood of damage to the property.   So that said we want you to insure other properties with us, eg your own home, rental property, holiday home – once you insure another non-trade property with us you can access the trade property insurance through your initio dashboard

Login to your initio dashboard, use the button  ‘Add another property’.  Enter the brief details about the property, choose an insured value, and choose ‘Trade Property’ from the property type drop down list.  You’ll have a quote in seconds and you can then be insured in minutes.

If you don’t have an initio dashboard you will need to add another property that is not a trade property, eg own home, rental property, holiday home.  Trade Property insurance is exclusive to existing customers.

Insure your trade property for the amount it would cost to replace it with a new one. You also need to include extra things like fences, driveways, and swimming pools. And you will want to add in a provision for the inflation in the cost of materials and the cost to demolish and clean up the site. It is recommended that you use an online tool such as Cordell or obtain a valuation from a quantity surveyor such as CCC. See here for more information about a rebuild valuation.

Learn more about calculation the insured value of your home.

The only payment method for monthly payments is by Credit Card.  We will charge your credit card every month and will email you when we do this.
This payment methods keeps things digital and means premiums stay down

Simply login to your initio dashboard and select the button ‘Make Claim’.  Answer some simple questions about the loss or damage and you are good to go.  In all cases of loss, its important to act as you would normally if you were not actually insured – then let us know as soon as you can and we will pick up the pieces.
Everytime there is an update on your claim the status on your dashboard will update also.  You will also receive an email notifications as the claim progresses.   We are dedicated to making the claims process as quick and easy and possible

The standard excess for claims for Trade Properties is $5,000.  For burglary, break-in or attempted break-in claims this excess will reduce to $1,000 if at the time of the incident you have a monitored, audible alarm operating the property.

If the construction involves removing the roof, an external wall/cladding, or is structural in nature the initio insurance policy will NOT cover the loss if it was caused by that work.  For example if you are re-roofing the property and part way through the work a major storm hits the region and the property sustains water damage there is no cover for this damage.

If you are doing major works like re-roofing and adding onto the property you will need to contact us to get a additional ‘Contract Works Insurance Policy’.

If the work is not major eg renovations, like carpet, kitchen replacement, bathroom upgrade – then the initio policy provides automatic cover.   The general rule is that if it is schedule 1 work then its insured.

Yes, the general rule of thumb is that if it is renovation work such as kitchen refit, carpet, painting, new bathrooms then accidental damage to the work and any loss the work causes is insured by the initio policy.
If you are doing major alterations, structural work, removing exterior cladding, removing windows/joinery or doing roofing work the initio policy will not provide cover for damage related to this work.

Yes, you automatically receive $20,000 of contents cover.  You can choose to increase this amount.

From our customers

Initio is so easy to use, even for someone as un-tech savvy as me. Its great to be in control of my landlord insurance… I can manage the lot and I love it.